TORONTO, March 23, 2021 (GLOBE NEWSWIRE) -- MCI Onehealth Technologies Inc. (“MCI Onehealth” or the “Company”) (TSX: DRDR) is pleased to announce preliminary financial results for the fiscal year ended December 31, 2020. The Company’s revenues are anticipated to be in the range of $10.5 to $11 million for the fourth quarter of 2020 and $38.0 to $38.5 million for the fiscal year ended December 31, 2020.
Based on preliminary financial information, the Company’s fourth quarter revenues are expected to be stronger than previously anticipated due to several factors, including:
- Continued increase in telehealth adoption, representing over 50% of visits in the fourth quarter of 2020 despite the offering only beginning in the second quarter of 2020
- Continued recovery in government insured primary care in MCI Onehealth’s clinics
- Record quarterly and annual revenue from the Company’s corporate health service offerings, which grew by approximately 140% during 2020 and 730% in the fourth quarter, representing an annualized run rate of $5 million
MCI Onehealth will provide full details of its financial results and an update on its progress towards achieving its key strategic initiatives when it releases its fourth quarter and annual financial results for the interim period and year ended December 31, 2020 on Tuesday, March 30, 2021, after market close. The Company expects to hold a conference call to discuss the results on the same day at 4:45 p.m. EDT. The call will be hosted by Alexander Dobranowski, Chief Executive Officer; Scott Nirenberski, Chief Financial Officer and Fernando Massalin, Investor Relations. Attendees are encouraged to dial in at least 10 minutes prior to the start of the call.
| Conference Call Details | |
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| Date: | Tuesday March 30, 2021 |
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| Time: | 4:45 p.m. Eastern Standard Time |
| Duration: | 60 minutes |
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| Dial-in Canada/US: | (833) 540-1153 (Toll-free) |
| | (918) 922-6528 (International) |
| Conference Call ID: | 2629139 |
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| Webcast link: | https://edge.media-server.com/mmc/p/tpqozawb |
About MCI Onehealth Technologies Inc.
MCI Onehealth is focused on empowering patients and doctors with advanced technologies to increase access, improve quality, and reduce the cost of healthcare. As one of Canada’s leading primary care networks with 25 technology enabled clinics, MCI Onehealth serves over 850,000 patients annually and has been a part of the healthcare community for over 30 years. Since the deployment of MCI/Connect, the company’s proprietary digital platform, MCI Onehealth continues to develop an ecosystem of digital applications, which will target modernizing and personalizing the primary care experience. MCI Onehealth additionally offers an expanding suite of occupational health service offerings that support a growing list of over 250 corporate customers. Driven by a proven management team of doctors and experienced executives, MCI Onehealth is executing a strategy focused on acquiring technology and health services that complement its technology and datafocused roadmap. Additional information can be found at www.mcionehealth.com.
For more information, please contact:
Fernando Massalin
Ir@mcionehealth.com
(416) 440-4040