/NOT FOR DISSEMINATION IN THE UNITED STATES/
VANCOUVER, BC, Oct. 19, 2022 /CNW/ - Global Health Clinics Ltd. ("Global Health" or the "Company") (CSE: MJRX) (Frankfurt: L00) will look to expand its telemedicine service beyond cannabis and into everyday health concerns. The Company has begun investigating potential targets for acquisition in Canada and the United States. Following the COVID-19 outbreak there has been a rapid adoption of telemedicine services for physicians and patients.
The idea of telemedicine with centralized hub with synchronous and asynchronous telehealth services will be able to provide rural and tribal communities with adequate and improved healthcare in combination with clinics, hospitals and pharmacies.
Specifically, the Company is exploring avenues in the lucrative niche telemedicine markets including dermatology, behavioral health, and correctional healthcare. Teledermatology is a growing area because it uses a "store and forward" system where images are transmitted to dermatologists, who may be in another state or province. They send their diagnosis to the referring physician or the patient. But dermatologists can also interact with patients in video exchanges. Behavioral health telemedicine lends itself to psychology in some ways because it focuses on a conversation between a therapist or physician and a patient. Correctional healthcare is for privately managed prisons looking to cut costs by looking at telemedicine. These are a few of the potential services the company will be looking to potentially expand into.
"Telehealth technologies provide clinicians with the tools necessary to bridge the gap in healthcare access and offer quality healthcare to all patients," states CEO Jatinder Dhaliwal. "Services will specifically via telehealth are more efficient and will allow companies like our to generate greater revenues moving forward."
A new report released this week from Bloomberg Intelligence predicted that the telehealth sector could bring in $20 billion in U.S. revenue by 2027. The Digital Reshaping the Health Care Ecosystem publication said that virtual care is set to "become a staple" of healthcare delivery. With more major healthcare providers embracing telehealth services, our analysis finds annual revenue growth for top telehealth providers at 30%.
Global Health Clinics Ltd.
On behalf of the Board of Directors of Global Health Clinics Ltd.
Forward Looking Statements
Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes information about the Transaction, including with respect to the closing thereof and the Company's ability to provide accessible resources for mental health and access to a community of professionals for patients across Canada upon completion of the Transaction, as well as the intentions, plans and future actions of the Company. The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company, including with respect to assumptions about the Company's ability to obtain the required approvals for the Transaction. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.The Company provides forward looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company's public filings under the Company's SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
SOURCE Global Health Clinics Ltd.
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