Viemed Healthcare, Inc. (the “Company” or “Viemed”) (NASDAQ:VMD and
TSX:VMD.TO), a national leader in respiratory care and
technology-enabled home medical equipment services, announced that
it has made a strategic investment in ModoHealth, a value-based
care and patient management platform connecting payors, patients,
and post-acute providers. ModoHealth expects to utilize the
proceeds of the investment to fund the expansion of its proprietary
patient management network, which combines clinical tools, remote
patient monitoring, data analysis, and patient-centric engagement.
“We are incredibly excited to partner with the
team at ModoHealth to grow the innovative population health
platform,” said Viemed Chief Executive Officer Casey Hoyt.
“Data-driven care coordination solutions available in the home are
critical to the evolution of value-based healthcare delivery
models. In addition to supporting ModoHealth patients as a
technology enabled post-acute provider on its platform, we look
forward to expanding Viemed’s collaboration with ModoHealth as a
strategic investor.”
ModoHealth’s technology enables partners across
the care continuum to collaborate through a secure platform in
order to treat numerous disease states, supporting joint care
coordination, evidence-based planning, tracking of patient
engagement, and reporting of outcomes. Payors seeking to develop,
implement, and manage value-based arrangements are able to utilize
the platform to measure and improve costs by reducing
hospitalizations and overall utilization. Providers benefit from
the platform’s connectivity and data integration, improving the
efficiency of workflows and facilitating effective care planning
and delivery. Patients are able to utilize connected devices to
access daily well-being check-ins, medication tracking and alerts,
learning lessons and activities, and telehealth, ultimately
strengthening the relationship with the care team and improving
outcomes. Viemed expects to leverage its connected healthcare
expertise to treat patients in the ModoHealth network suffering
from COPD, sleep apnea, and other respiratory conditions.
In exchange for its $2,000,000 cash investment,
Viemed received an 18-month secured convertible promissory note and
Viemed will participate in the ModoHealth provider network,
utilizing the ModoHealth software platform to improve patient
outcomes through enhanced patient engagement.
ABOUT VIEMED HEALTHCARE, INC.
Viemed is a provider of in-home medical
equipment and post-acute respiratory healthcare services in the
United States. Viemed’s service offerings are focused on effective
in-home treatment with clinical practitioners providing therapy and
counseling to patients in their homes using cutting edge
technology. Visit our website at www.viemed.com.
For further information, please contact:
Glen AkselrodBristol
Capital905-326-1888glen@bristolir.com
Todd ZehnderChief Operating OfficerViemed
Healthcare, Inc.337-504-3802investorinfo@viemed.com
Forward-Looking Statements
Certain statements contained in this press
release may constitute “forward-looking statements” within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995 or “forward-looking information” as such term is defined in
applicable Canadian securities legislation (collectively,
“forward-looking statements”). Often, but not always,
forward-looking statements can be identified by the use of words
such as “plans”, “expects”, “is expected”, “budget”, “potential”,
“scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”,
“believes”, or “projects”, or the negatives thereof or variations
of such words and phrases or statements that certain actions,
events or results “will”, “should”, “may”, “could”, “would”,
“might” or “will be taken”, “occur” or “be achieved” or the
negative of these terms or comparable terminology. All statements
other than statements of historical fact, including those that
express, or involve discussions as to, expectations, beliefs,
plans, objectives, assumptions or future events or performance,
including the Company’s expectations about its investments in and
collaboration with ModoHealth and the company’s use of the
ModoHealth software platform to treat patients in the ModoHealth
network suffering from COPD, sleep apnea, and other respiratory
conditions and improve patient outcomes, are not historical facts
and may be forward-looking statements and may involve estimates,
assumptions and uncertainties that could cause actual results or
outcomes to differ materially from those expressed in the
forward-looking statements. Such statements reflect the Company's
current views and intentions with respect to future events, and
current information available to the Company, and are subject to
certain risks, uncertainties and assumptions. Many factors could
cause the actual results, performance or achievements that may be
expressed or implied by such forward-looking statements to vary
from those described herein should one or more of these risks or
uncertainties materialize. These factors include, without
limitation: the general business, market and economic conditions in
the regions in which the Company operates; the impact of the
COVID-19 pandemic and the actions taken by governmental
authorities, individuals and companies in response to the pandemic
on our business, financial condition and results of operations,
including on the Company's patient base, revenues, employees, and
equipment and supplies; significant capital requirements and
operating risks that the Company may be subject to; the ability of
the Company to implement business strategies and pursue business
opportunities; volatility in the market price of the Company's
common shares; the Company’s novel business model; the risk that
the clinical application of treatments that demonstrate positive
results in a study may not be positively replicated or that such
test results may not be predictive of actual treatment results or
may not result in the adoption of such treatments by providers; the
state of the capital markets; the availability of funds and
resources to pursue operations; reductions in reimbursement rates
and audits of reimbursement claims by various governmental and
private payor entities; dependence on few payors; possible new drug
discoveries; dependence on key suppliers and the recall of certain
Royal Philips BiPAP and CPAP devices and ventilators that we
distribute and sell; granting of permits and licenses in a highly
regulated business; competition; low profit market segments;
disruptions in or attacks (including cyber-attacks) on the
Company's information technology, internet, network access or other
voice or data communications systems or services; the evolution of
various types of fraud or other criminal behavior to which the
Company is exposed; the failure of third parties to comply with
their obligations; difficulty integrating newly acquired
businesses; the impact of new and changes to, or application of,
current laws and regulations; the overall difficult litigation and
regulatory environment; increased competition; changes in foreign
currency rates; increased funding costs and market volatility due
to market illiquidity and competition for funding; critical
accounting estimates and changes to accounting standards, policies,
and methods used by the Company; the Company’s status as an
emerging growth company and a smaller reporting company; and the
occurrence of natural and unnatural catastrophic events or health
epidemics or concerns, such as the COVID-19 pandemic, and claims
resulting from such events or concerns; as well as those risk
factors discussed or referred to in the Company’s disclosure
documents filed with the U.S. Securities and Exchange Commission
(the “SEC”) available on the SEC’s website at www.sec.gov,
including the Company’s most recent Annual Report on Form 10-K and
Quarterly Report on Form 10-Q, and with the securities regulatory
authorities in certain provinces of Canada available at
www.sedar.com. Should any factor affect the Company in an
unexpected manner, or should assumptions underlying the
forward-looking statements prove incorrect, the actual results or
events may differ materially from the results or events predicted.
Any such forward-looking statements are expressly qualified in
their entirety by this cautionary statement. Moreover, the Company
does not assume responsibility for the accuracy or completeness of
such forward-looking statements. The forward-looking statements
included in this press release are made as of the date of this
press release and the Company undertakes no obligation to publicly
update or revise any forward-looking statements, other than as
required by applicable law.
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