HealthLynked Reports 98% Year-Over-Year
Revenue Growth for Third Quarter 2021, 66% Growth
Year-to-Date
Company continues to execute its growth
strategy and expects to up-list to NASDAQ Capital Market in early
2022
Naples, FL. -- November 16, 2021 -- InvestorsHub NewsWire
-- HealthLynked Corp. (OTCQB:
HLYK), a global healthcare network focused on care management
of its members and a provider of healthcare technologies that
connects doctors, patients, and medical data, reported its
financial results for the third quarter and year-to-date for fiscal
year 2021, ended September 30, 2021.
Recent Highlights:
- Revenue increased by 98% to $4.0 million in third quarter 2021,
compared to $2.0 million in third quarter 2020
- Patient appointments increased 24% to 4,181 in third quarter
2021, compared to 3,377 in third quarter 2020.
- Time of Service collections increased 33% to $1.0 million in
third quarter 2021, compared to $0.8 million in third quarter
2020
- Subsidiary ACO Health Partners LLC received $2.4 million in
Medicare Shared Savings revenue from the Centers for Medicare &
Medicaid Services in third quarter 2021, an increase of 213%,
compared to $0.8 million in third quarter 2020
- Foundational patient services revenue for Health Services
Division increased by 32%, compared to a decrease of 10% in third
quarter 2020
- QwikCheck V2.0 launched to streamline check-in process and
maintain social distancing
- Jeffrey Cohen hired as Vice President of Sales to increase
revenue from larger markets
Year-to-Date 2021 Highlights:
- YTD'21 revenue increased by 66% to $7.5 million, compared to
$4.5 million in revenue YTD'20
- Patient appointments for the Company's Health Service division
increased by 17% to 13,067, compared to YTD'20 patient appointments
of 11,139
- Time of Service collections increased by 28% to $3.4 million,
compared to YTD'20 Time of Service collections of $2.6 million
Dr. Michael Dent, Chairman and Chief Executive Officer
commented, "We are very pleased with the significant progress we
made during the quarter including robust revenue growth and strong
growth in patient volume and time of service collections in our
Health Services division. We also grew Medicare Shared
Savings from our ACO division by 213% compared to the year ago
period. The outstanding performance of the ACO's participating
physicians contributed to reducing patient costs while improving
outcomes."
George O'Leary, Chief Financial Officer stated, "The Company's
recent strength in our financial performance, coupled with
improvements in our balance sheet, drove net equity to $8.8 million
in the third quarter, a significant increase from $1.4 million at
the end of 2020. We are excited about the growth that we are
experiencing, and we look forward to continuing to provide value to
our patients and shareholders as the Company executes on its
business strategy."
About HealthLynked Corp.
HealthLynked Corp. provides a solution for both patient
members and providers to improve healthcare through the
efficient exchange of medical information. The HealthLynked Network
is a cloud-based platform that allows members to connect with their healthcare providers and take more control of their
healthcare. Members enter their medical information,
including medications, allergies, past surgeries, and personal
health records, in one convenient online and secure location, free
of charge. Participating healthcare providers can connect with their current and
future patients through the system. Benefits to
in-network providers include the ability to utilize the
HealthLynked patent-pending patient access
hub "PAH" for patient analytics. Other benefits for
preferred providers include HLYK marketing tools to connect with
their active and inactive patients to improve patient retention,
access more accurate and current patient information, provide more
efficient online
scheduling, and to fill last-minute cancelations using the
Company's "real-time appointment scheduling" all within its mobile
application. Preferred
providers pay a monthly fee to access these HealthLynked
services. For additional information about HealthLynked Corp.,
please visit www.healthlynked.com and connect with
HealthLynked on Twitter, Facebook, Instagram,
and LinkedIn.
Forward-Looking Statements
Forward-Looking Statements in this press release, which are not
historical facts, are forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Our actual
results, including as a result of any acquisitions, performance, or
achievements may differ materially from those expressed or implied
by these forward-looking statements. In some cases, you can
identify forward-looking statements by the use of words such as
"may," "could," "expect," "intend," "plan," "seek," "anticipate,"
"believe," "estimate," "predict," "potential," "continue,"
"likely," "will," "would" and variations of these terms and similar
expressions, or the negative of these terms or similar expressions.
Such forward-looking statements are necessarily based upon
estimates and assumptions that, while considered reasonable by our
management, and us are inherently uncertain. We caution you not to
place undue reliance on any forward-looking statements, which are
made as of the date of this press release. We undertake no
obligation to update publicly any of these forward-looking
statements to reflect actual results, new information or future
events, changes in assumptions or changes in other factors
affecting forward-looking statements, except to the extent required
by applicable laws. If we update one or more forward-looking
statements, no inference should be drawn that we will make
additional updates with respect to those or other forward-looking
statements. Certain risks and uncertainties applicable to our
operations and us are described in the "Risk Factors" section of
our most recent Annual Report on Form 10-K and in other filings we
have made with the U.S. Securities and Exchange Commission. These
reports are publicly available at www.sec.gov.
Investor Contacts:
Lisa Fortuna or Josh Carroll
HLYK@alpha-ir.com
Other Contacts:
George O'Leary
Chief Financial Officer
goleary@healthlynked.com
(800)-928-7144, ext. 103
William Hayde
Capital Markets Strategist
bhayde@healthlynked.com
(631)-403-4337
HealthLynked Corp.
Selected Consolidated
Financial Data
Three and Nine Months Ended
September 30, 2021 and 2020
|
Three
Months Ended
September
30,
|
|
Nine
Months Ended
September
30,
|
|
|
2021
|
|
|
2020
|
|
|
2021
|
|
|
2020
|
Statement of
Operations Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total revenue
|
$
|
4,044,719
|
|
$
|
2,040,155
|
|
$
|
7,540,033
|
|
$
|
4,538,605
|
Net loss
|
$
|
(368,017)
|
|
$
|
(1,734,295)
|
|
$
|
(8,697,234)
|
|
$
|
(3,832,359)
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per share to
common stockholders, basic and diluted
|
$
|
(0.00)
|
|
$
|
(0.01)
|
|
$
|
(0.04)
|
|
$
|
(0.03)
|
Weighted average number
of common shares, basic and diluted
|
|
232,203,244
|
|
|
147,366,619
|
|
|
224,658,709
|
|
|
129,234,540
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance Sheet
Data
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30,
2021
|
|
December 31,
2020
|
|
|
|
|
|
|
Total Assets
|
$
|
12,962,112
|
|
$
|
8,026,548
|
|
|
|
|
|
|
Total
Liabilities
|
$
|
4,191,652
|
|
$
|
6,676,540
|
|
|
|
|
|
|
Total Shareholders'
Equity
|
$
|
8,770,460
|
|
$
|
1,350,008
|
|
|
|
|
|
|