VANCOUVER, British Columbia,
Feb. 14, 2019 /CNW/ -- Premier Health
Group (CSE: PHGI) (OTCQB: PHGRF) (Frankfurt: 6PH) (the "Company" or "Premier
Health"), a Company focused on developing innovative approaches
that combine human skill-based expertise with emerging technologies
for the healthcare industry, is pleased to provide a corporate
update.
Key Highlights:
- Strategic Acquisitions: Cloud Practice, Pharmacies – with the
conclusion of these transactions Premier Health will have a run
rate exceeding CAD $10 million
- Strategic Partnership: 360 Health
- Expansion Plans: Medical Cannabis
- Technology Development: Telemedicine App under development
Strategic Acquisitions
Premier Health has successfully acquired Cloud Practice Inc., a
healthcare technology company that provides cloud-based electronic
medical records software applications for physicians throughout
Canada. Cloud Practice's suite of
products include: Juno EMR, a cloud based EMR solution; ClinicAid,
a medical billing software; and MyHealthAccess, an online patient
portal. With this acquisition, Premier now has a collective
ecosystem of over 3,000,000 active patients and 287 primary care
clinics. Additionally, Cloud Practice has seen revenue growth in
excess of 30% year over year for the past 3 years. Not only does
this acquisition expand the Company's footprint across Canada, it also provides an opportunity to
plug in its services to Cloud Practice's current client base.
Premier Health is also in the process of closing on two
operating pharmacies in Metro Vancouver, with a combined revenue of
approximately $6 million (FY 2018).
Pharmacy is a critical component in providing patients with best in
class primary care that is accessible and efficient in its
delivery. The Pharmacist plays an important role within the
patient's healthcare team and through our platform they will be
able to securely communicate with other practitioners in the circle
of care. Premier Health has engaged with patients, pharmacies and
technology providers to not only introduce pharmacy services as a
component of the comprehensive app, but also to explore and
implement efficiencies in fill and fulfillment.
Strategic Partnerships
To facilitate Premier Health's growth overseas, the Company
recently announced a partnership with a major online healthcare
company in China, 360 Health. The
parent company, 360 Security Technology, is a leading online
service company in China with a
market capitalization of over $20 billion
USD as of February 14, 2019.
China represents the largest
market for Telemedicine and has begun adopting a family primary
care practice model. This provides an opportunity for our team of
health care providers to play an essential role in providing
general practitioner training virtually and on site through medical
seminars. This partnership will also enable the Company's
healthcare team to connect with patients virtually in China to provide second opinion services.
Expansion Plans
Further to their expansion plans, Premier Health will enter the
Cannabis clinic space. The role of Cannabis in treating medical
conditions is continuously expanding to help patients with acute
& chronic symptoms. Currently, there is a critical gap between
the patient's need for medical cannabis, and the physician's
comfort and knowledge to prescribe it. We are looking to fill that
gap through partnering with subject matter experts to help educate
our patients and healthcare workers. In addition, Premier Health is
currently working on a partnership model to hard code a
decision-making process into Juno EMR. Through the use of a
software tool, the doctor will just need to identify patients with
conditions that could warrant medical cannabis consideration and
the integrated technology will analyze the patient's data and
output a comprehensive recommendation on medical cannabis
qualification, dosing and prescriptions.
The Company is actively engaging in business development within
the global healthcare market to find additional growth catalysts,
with a focus on patient acquisition and cashflow positive
verticals.
Technology Development
Premier Health's management team is working closely with the
development team at Cloud Practice to build an integrated patient
portal that will include a telemedicine component – a beta version
of the app will be available by end of Q2. According to a recent
study by Mass General, with a telehealth visit, 95% of the time
spent by the patient is face-to-face with the doctor, compared to
less than 20% of a traditional visit, in which most time is spent
traveling and waiting. With the app, Premier Health is aiming to
remove the accessibility bottlenecks that exist within healthcare
systems. The patient will have the ability to see their physician,
access their charts & lab results, chat securely with clinical
staff, reorder prescriptions and share remote health monitoring
data with their doctor – all at their fingertips. In addition,
Premier Health plans to deploy AI to assist in triaging patients.
Using the app, the patient will answer a series of questions which
will be relayed to the physician, along with a differential on
possible diagnoses. This information will be prepopulated to the
physicians charting system and will provide key patient information
prior to the scheduled virtual visit, saving them a considerable
amount of time and allowing more time for patient interaction.
Eventually, the app will give the patient instant access to a team
of healthcare practitioners with specializations including, but not
limited to, Family Medicine, Mental Health Counselling, and Diet
& Nutrition.
ON BEHALF OF THE BOARD OF DIRECTORS
'Dr. Essam Hamza, MD'
Chief Executive Officer
About Premier Health
Premier Health is a Canadian company that is strategically
poised to take advantage of business opportunities in the global
health care industry. We are developing innovative health care
approaches that combine human skill-based expertise with emerging
technologies, with the goal of setting the gold standard for
services in locations of interest worldwide. Premier Health's
subsidiary, HealthVue is focused on developing proprietary
technology to deliver quality healthcare through the combination of
connected primary care clinics with telemedicine and artificial
intelligence (AI). We currently have an ecosystem of over 100,000
active patients and have plans to rapidly increase that number both
domestically and internationally. The Premier Health team has a
strong track record of successfully creating value in healthcare
and technology enterprises. The Management team has deep clinical,
financial and operational expertise and a passion for improving
healthcare for all patients.
The Canadian Securities Exchange does not accept
responsibility for the adequacy or accuracy of this
release.
FOR ADDITIONAL INFORMATION CONTACT:
Premier Health Group Inc.
Email: investors@mypremierhealth.com
+1-604-617-7221
www.mypremierhealth.com
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SOURCE Premier Health Group Inc.