Global Care's HealthView starts generating revenue
Global Care's HealthView starts generating revenue
2021-03-04 20:11 ET - News Release
Mr. Alex Somjen reports
GLOBAL CARE CAPITAL PORTFOLIO COMPANY, HEALTHVIEW ACHIEVES SECOND AND FINAL EARN-OUT MILESTONE
Global Care Capital Inc.'s 100-per-cent-owned portfolio company, HealthView Technologies Inc., has begun to generate revenue and has achieved its second of two earn-out milestones in accordance with the terms of the definitive agreement that was entered in connection with the acquisition of HealthView by the company.
As of Feb. 28, 2021, HealthView achieved its second and final of two earn-out milestones by generating revenue. As a result, the company will issue 10 million common shares to certain former HealthView shareholders at a deemed price of nine cents per earn-out share. The earn-out shares will not be subject to any hold period under applicable securities laws.
In the COVID-19 era, mental health has become a huge focus. Individuals are struggling to find options to cope, and organizations are searching for ways to support their employees. Long wait times and access have always been an issue. As the pandemic continues, people are feeling the weight of isolation on their mental health, and instances of substance abuse are increasing. The work-from-home situation is also taking a toll on Canadians, creating the "loneliness pandemic (1)."
Pre-COVID-19, 80 per cent of Canadians were relying on their family doctors to support their mental health needs. But access to care requires private financing for outpatient services, which nearly one-third of Canadians cannot afford (2).
The HealthView platform provides access to mental health support 24 hours a day, seven days a week at affordable rates. Counsellors can be accessed on-line from a mobile device, computer or tablet as long as there is an Internet connection. With the HealthView platform, you can get help in the comfort and privacy of your home or office.
"We haven't even begun to scratch the surface. There are millions of Canadians who can benefit from HealthView's service. Our goal is to democratize access to mental health care in the most efficient way possible. Our counsellors cover the gamut of specialty areas, including addiction, trauma, abuse, anxiety and life transitions," said Trumbull Fisher, HealthView Technologies chief executive officer.
HealthView's vision is for happier, healthier and more productive employees, which in turn creates more profitable businesses, and better social and economic outcomes for all. Nearly four out of 10 (39 per cent) employers believe promoting or sponsoring digital health solutions will help with staff retention (3). Eighty-nine per cent of workers at companies that support well-being initiatives are more likely to recommend their company as a good place to work (4). Supporting the health and performance of your employees is not only good for business, it's vital for growth.
About HealthView Technologies Inc.
HealthView aims to be a global disruptor in the mental health and wellness space. HealthView provides wellness support and mental health solutions and services to both employer firms and employees. As the population continues to work remotely and from home, mental health and workplace wellness are becoming increasingly in more demand and more important than ever before. HealthView is an on-line solution and tool that employees and employment firms will be able to use to support wellness for their teams.
About Global Care Capital Inc.
Global Care Capital is a global investment company which specializes in providing early-stage financing to private and public companies. The Company engages in new, early-stage investment opportunities in previously underdeveloped assets and obtaining positions in early-stage investment opportunities that adequately reflect the risk profile.
We seek Safe Harbor.
(1) Global News