The current healthcare system in the United States is a disaster. That may be kind; it’s a catastrophe. Insurance providers are driving a significant change in their reimbursement models to improve health and reduce costs. This shift starts at the source of healthcare: with primary care doctors. Insurance providers are rewarding primary care providers that can transition their business model from the “old model” of fee-for-service (think: high traffic, over-billing, low quality of care) to the “new model” of managed care (think: preventative healthcare on a capitation base). Further exposing how broken the healthcare system is, primary doctors are overloaded. On average, these doctors can work 51 hours a week and see 20 patients a day. That’s why major primary care providers, such as Skylight Health Group Inc. (TSXV:SHG) (OTCQX:SHGFF), Oak Street Health Inc. (NYSE:OSH), 1Life Healthcare Inc. (NASDAQ:ONEM), Teladoc Health Inc. (NYSE:TDOC), and Jack Nathan Medical Corp. (TSXV:JNH) are helping.
Look at Skylight Health Group Inc. (TSXV:SHG)(OTCQX:SHGFF) for example
Skylight Health Group Inc. (TSXV:SHG; OTCQX: SHGFF), a multi-state primary care management group in the United States, is pleased to announce that it has entered into an agreement with Raymond James Ltd., as sole bookrunner and co-lead underwriter and Stifel GMP as co-lead underwriter on behalf of a syndicate of underwriters (collectively the “Underwriters”) pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 8,572,000 common shares of the Company at a price of $1.40 per Common Share for gross proceeds of approximately $12 million.
The Company has granted the Underwriters an Over-Allotment Option, exercisable in whole or in part, at any time, and from time to time, for a period of 30 days following the closing of the Offering, to purchase at the Issue Price up to such number of an additional Common Shares as is equal to 15% of the number of Common Shares sold pursuant to the Offering.
The Company intends to use the net proceeds of the Offering to fund growth initiatives, including executing its M&A strategy, and for general corporate purposes. The Common Shares will be offered by way of prospectus supplement filed in Alberta, British Columbia, Manitoba and Ontario to supplement the Company’s short form base shelf prospectus dated May 6, 2021.
The Offering is expected to close on or about May 26, 2021 and is subject to market and other customary conditions, including approval of the TSX Venture Exchange, and the entering into of an underwriting agreement between the Company and the Underwriters.
Other related developments from around the markets include:
Oak Street Health Inc. , a network of value-based primary care centers for adults on Medicare, \
announced its plans to enter Oklahoma, Missouri and New Mexico , bringing its innovative model of care to thousands of new older adults across the country. The Company will open centers in Oklahoma City, Tulsa, St. Louis and Albuquerque this fall, increasing the number of states with Oak Street Health centers to 19.
1Life Healthcare Inc. announced financial results for the first quarter ended March 31, 2021. “Through our human-centered and technology-powered model, we continue to perform, innovate, and grow to delight more members with better health, better care, and lower costs,” said Amir Dan Rubin, Chair & CEO of One Medical. “In Q1 we continued demonstrating significant impacts by delivering record membership additions, showcasing reductions in total cost of care, and developing new markets and health network partnerships. Today, we are pleased to announce new plans to enter Dallas-Fort Worth, Texas with Baylor Scott & White as a health network partner. In addition to our nationwide telehealth services, we will soon deliver combined telehealth plus in-person care across 22 markets, extending the reach of our model to markets covering nearly 40% of the U.S. commercially-insured population. As we continue to expand across the nation, our results demonstrate how One Medical can transform healthcare at scale.”
Teladoc Health Inc., the global leader in whole-person virtual care, today announced a new partnership with Vivo , part of the Telefónica Group, that will provide Brazilians with increased access to healthcare, specifically through the use of telemedicine. The service, named Vida V Powered by Teladoc , is scheduled to launch next month and will be made available to any consumer in Brazil, including those who are not yet Vivo customers. Vida V is a digital health and wellness marketplace that will offer, among other solutions, telemedicine services to end customers and SMB companies in Brazil.
Jack Nathan Medical Corp. announced its unaudited financial results for the third quarter ended October 31, 2020. Jack Nathan Health’s financial statements are prepared in accordance with International Financial Reporting Standards. “We went public at the end of Q3. This represents an important milestone for our long-term growth plans in supporting patients and how they access high-quality health care within their communities, through our relationship with Walmart. We are at an inflection point with a profitable, strong, and sustainable foundation. As a result, we are poised and well financed to materially scale and drive top and bottom-line growth,” said George Barakat CEO of Jack Nathan Health. “Over the coming year we plan to execute on our five key objectives to allocate funds strategically and drive shareholder value.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Skylight Health Group Inc. by Skylight Health Group Inc. We own ZERO shares of Skylight Health Group Inc. Please click here for full disclaimer.
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