originated in Wuhan, China, and the risks to the international community as the virus spread globally beyond its point of origin. In March 2020, the WHO declared the COVID-19 outbreak a pandemic and recommended containment and mitigation measures worldwide. On March 13, 2020, President Trump declared a National Emergency relating to the disease. The widespread infection in
the U.S. and abroad has caused significant volatility and uncertainty in U.S. and international markets, which could result in a prolonged economic downturn that has disrupted and is expected to continue to disrupt our business.
National, state and local authorities have recommended social distancing and imposed or are considering quarantine, shelter-in-place, curfew and similar isolation measures, including government orders and other restrictions on the conduct of business operations. Such measures have had
adverse impacts on the U.S. and foreign economies of uncertain severity and duration and have and may continue to negatively impact our ongoing operations, including our revenue and supply chain. For example, a portion of our business is tied to
overall volumes of activity in the healthcare system, and as a result of the significant reduction, or in some cases elimination, of elective medical procedures and healthcare visits, without a corresponding increase in COVID-19 related transactions, we have seen a significant temporary decline in transactions across our medical and dental networks. In addition, for a portion of our technology-enabled services business we get paid
on a contingency basis based on collections, which has also been impacted by a delay in elective procedures.
As a result of the ongoing COVID-19 outbreak, we and several of our business partners have transitioned the majority of our workforce to a temporary remote working model, which may result in us experiencing lower work efficiency and
productivity, which in turn may adversely affect our business. As our employees and our business partners employees work from home and access our system remotely, we may be subject to heightened security and privacy risks, including the risks
of cyber attacks and privacy incidents. Additionally, we have a limited number of employees who continue to work in our facilities or perform services at our customers facilities who may be subject to heightened risks for COVID-19 exposure thus potentially impacting their health and future worker compensation claims against us. We may also be subject to lawsuits from employees and others exposed to
COVID-19 at our facilities, which could involve large demands and substantial defense costs. Our professional and general liability insurance may not cover all claims against us. Furthermore, if any of our
employees are unable to perform his or her duties for a period of time, including as the result of illness, our results of operations or financial condition could be adversely affected. Finally, the widespread pandemic has caused and is
expected to continue to cause significant disruption of global financial markets, which may reduce or impair our ability to access capital (or access capital on terms that would be consistent with our expectations) temporarily during this period.
While the COVID-19 outbreak may provide us with new business opportunities, including supporting
customers offering novel telemedicine, telehealth, and data and analytics products and solutions, we may experience compliance and related business development risks associated with these new business opportunities if customers request, and we
attempt to offer, these products and solutions on an expedited basis in support of COVID-19 efforts.
We cannot reasonably estimate the length or severity of the COVID-19 pandemic or the related response,
including the length of time it may take for normal economic and operating conditions to resume or the extent to which the disruption may materially impact our business, consolidated financial position, consolidated results of operations or
consolidated cash flows. To the extent the COVID-19 pandemic adversely affects our business, operations, financial position or consolidated cash flows, it may also have the effect of heightening many of the
other risks described in the other disclosures, including the risk factors, contained in its other filings with the Securities and Exchange Commission, including its reports filed under Section 13(a) of the Securities Exchange Act of 1934, as
amended, and its Registration Statement on Form S-4 (No. 333-236234), such as those relating to our level of indebtedness, our need to generate sufficient cash flows to
service our indebtedness and our ability to comply with the covenants contained in the agreements that govern our indebtedness.
Forward-Looking
Statements
This current report contains forward-looking statements within the meaning of federal securities laws. Any
statements made in this current report that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements include information concerning the Companys
business operations in light of the COVID-19 pandemic. These statements often include words such as anticipate, expect, suggest, plan, believe,
intend, estimate, target, project, should, could, would, may, will, forecast, outlook, potential,
continues, seeks, predicts, and the negatives of these words and other similar expressions. Forward-looking statements involve known and unknown risks, uncertainties, including factors disclosed in the
Registration Statement on Form S-4 (No. 333-236234) in the section entitled Risk Factors, and other factors that may cause our actual
results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Given these uncertainties, you should not place undue reliance on any
forward-looking statements in this current report. All forward-looking statements are based on information currently