DIGITAL HEALTHCARE

Swift Medical Launches the World’s First All-in-One Hyperspectral Imaging Device to Make Healthcare More Accessible

Swift Medical | March 03, 2022

Swift Medical, the global leader in digital wound care technology, unveiled the Swift Ray 1, a groundbreaking hardware device that wirelessly attaches to a smartphone camera and captures comprehensive clinical data to better support assessment, treatment and monitoring of skin and wound conditions. The Swift Ray 1 fits in the palm of a clinician or patient’s hand, making powerful medical imaging accessible anywhere, from the hospital to the home. Further, this advanced imaging enables the capture of accurate clinical data for every patient, regardless of skin tone, making wound care more equitable for everyone.

“The future of wound care goes beyond what the naked eye can perceive and beyond the walls of the clinic, which is why our dream has always been to equalize and improve healthcare access for humanity through intelligent diagnostics. The Swift Ray 1 gets us one step closer by helping clinicians and patients see below the surface of the skin, to heal wounds faster or prevent them from ever even developing.”

Carlo Perez, co-founder and CEO of Swift Medical

The Swift Ray 1 captures and analyzes important physiological characteristics of wounds that can indicate causes for concern and/or improper healing, such as signs of infection, bacterial colonization, tissue compromise, perfusion, inflammation and blood oxygen levels. The new device illuminates these invisible, beneath-the-skin characteristics through long-wave infrared, near infrared, ultraviolet and enhanced RGB imaging technology - enabling powerful clinical workflows.

The Swift Ray 1 works seamlessly with Swift Medical’s proprietary wound management software application and provides clinicians with unparalleled insights into a patient’s wound healing, informing clinical and operational decision-making. It also integrates directly into many of the leading EHRs to help clinicians both improve clinical efficiency and ensure that all relevant medical information is recorded in the patient’s chart.

“The technology can fit in your pocket. That means it can go anywhere a doctor or nurse goes. It means it’s on them, whenever they need it, wherever their patients are,” said Mike Comer, Founder and CEO at Wound Care Advantage. “There’s no forgetting it on the shelf or fumbling around with wires and clunky imaging devices. You just take it from your pocket and snap a photo. It really does make wound care accessible anywhere.”

Chronic wounds are one of the biggest public health challenges worldwide, and are often associated with other prevalent chronic conditions, such as diabetes and hypertension. More than 8.2 million patients are currently suffering from chronic wounds in North America. As rates of obesity, diabetes and other chronic conditions continue to skyrocket, the number of patients at risk of developing wounds will continue to rise.

The challenges of providing wound care are exacerbated by the reality that high quality care traditionally requires highly trained clinicians using multiple pieces of bulky, expensive equipment in an institutional setting. Conversely, the Swift Ray 1 allows any clinician to capture and share images at any bedside, enabling healthcare organizations to provide more accessible, efficient and preventive care.

The Swift Ray 1 supports a variety of use cases, including early detection of deep tissue injuries and prevention of pressure injuries; identification of wound infections and inhibited wound healing; and remote physiological monitoring of chronic wound patients in the home. The Swift Ray 1 is also ideal for pharmaceutical companies and clinical research organizations engaged in clinical trials.

About Swift Medical
Swift Medical is the global leader in digital wound care. Our mission is to make empathy driven wound care ubiquitous through AI-powered diagnostic technology. We are the trusted wound technology partner of more than 4,100 healthcare facilities in North America across the continuum of care. Our solutions empower healthcare providers to deliver standardized, accessible and equitable wound care for every patient - with advanced, high-precision imaging, compliant documentation, clinical analytics and remote care. 

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As one of the area’s only locally-owned, nonprofit health systems, Springfield, Mo.-based CoxHealth plays a major role in both the physical and economic health of southern Missouri.


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HEALTH TECHNOLOGY

Bright Health Group Expands Executive Team as It Drives Performance in Scaled Businesses

Bright Health Group | May 18, 2022

Bright Health Group, Inc. the first technology-enabled, Fully Aligned System of Care built for healthcare's consumer retail market,announced the expansion of its leadership team with the addition of Michael Carson as Bright HealthCare Chief Executive Officer and Jeff Cook as NeueHealth Chief Executive Officer. These proven leaders, reporting directly to Bright Health Group CEO Mike Mikan, will focus on leading the Company’s two complementary businesses, as Bright HealthCare has gained scale, and NeueHealth emerges as a differentiated market player. Carson will lead the Bright HealthCare business, which has reached scale, and will focus on driving core operational excellence, innovative consumer product and network solutions and profitable, sustainable growth. Carson brings deep experience across the payer and provider space, along with a passion for integrated and transformative healthcare innovation that drives better healthcare outcomes, experiences, and value. Most recently, Carson served as Chief Executive Officer of CareAbout, a multi-market, value-based primary and multi-specialty care start-up, and as President and Chief Executive Officer of Harvard Pilgrim Health Care, a leading not-for-profit health services company. Previously, Carson held leadership positions at Anthem, AmeriGroup, Blue Cross Blue Shield plans, and ConcertoHealth. Cook will lead NeueHealth, Bright Health Group’s personalized care delivery business, which has emerged as a differentiated market player. He will continue to grow and develop our Integrated Systems of Care. Throughout his career, Cook has consistently led initiatives that are at the forefront of value-based care and consumer-driven healthcare. Previously, Cook served as national Vice President of CVS Health HUBs, CVS’ suite of HUB clinical services. Prior to that, Cook served as the South Central Regional President of CVS Health/Aetna and held various leadership positions at Ascension Health and UnitedHealthcare. “Michael and Jeff both bring strong expertise in their respective domains, and most importantly, have a passion for and expertise in fully aligned, value-based care. As we embark on this next phase of Bright Health Group’s journey, we are excited to have these two phenomenal leaders join our already deep bench of talent within Bright HealthCare and NeueHealth.” Mike Mikan, President and CEO, Bright Health Group Sam Srivastava, current CEO of NeueHealth, will serve as a strategic advisor through the end of May to ensure a smooth transition. Jay Matushak, current Interim CEO of Bright HealthCare, will be returning to his previous role as CFO of Bright HealthCare, while taking on an expanded set of responsibilities. Said Mikan, “We want to thank Sam for his many contributions to Bright Health Group and Jay for stepping up to lead Bright HealthCare in the interim. Jay has done a terrific job progressing Bright HealthCare and we look forward to him partnering with Michael as they continue the build on our platform for change in healthcare.” About Bright Health Group Bright Health Group is the first technology-enabled, Fully Aligned System of Care built for healthcare's consumer retail market. Our differentiated approach aligns care delivery with the financing of care to drive better outcomes, lower costs, and enhance the consumer experience. We have two market-facing businesses: NeueHealth and Bright HealthCare. NeueHealth provides care delivery and value-based enablement services to over 500,000 value-based patients through our owned and affiliated clinics. Bright HealthCare offers Commercial and Medicare health plan products to over 1.1 million consumers across the nation. We believe everyone should have access to personal, affordable, and high-quality healthcare. Our mission is to Make healthcare right. Together.

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HEALTH TECHNOLOGY

Mednow Enters Into Agreement to Acquire Mednow East Inc in Ontario

Mednow Inc. | March 08, 2022

Mednow Inc. Canada’s on-demand virtual pharmacy, is pleased to announce that the Company has entered into a share purchase agreement on March 4, 2021 with Mednow East Inc.and the shareholders of Mednow East, pursuant to which the Company shall acquire all of the issued and outstanding shares of Mednow East, in consideration for an aggregate cash payment of approximately C$65,578 and the Company’s agreement to convert approximately C$1,374,422 owed by Mednow East to the Company pursuant to a pharmacy agreement dated September 15, 2020, as amended October 30, 2020 into a non-interest bearing on-demand convertible promissory note. Mednow East is an Ontario company that operates an online pharmacy, delivering prescriptions in the Province of Ontario. Mednow East has its business headquarters in Toronto and employs Mednow’s marketing and technology platform for lead generation, prescription fulfillment and customer services pursuant to the Pharmacy Agreement. Strategically, Mednow is focused on building out a national pharmacy footprint and the acquisition of Mednow East, with their presence in Ontario, helps to accelerate these goals. Prior to this acquisition, Mednow entered into the Pharmacy Agreement with Mednow East, but post-acquisition, Mednow will own 100% of a pharmacy located in Ontario, which will allow Mednow to provide free same-day pharmaceutical delivery services in the GTA and surrounding areas, and free next-day delivery in the rest of Ontario. Upon closing of the Share Purchase Agreement, Mednow East’s revenue and expenses will be consolidated with those of Mednow and the Pharmacy Agreement between the two parties will be terminated. The debt of approximately C$1,374,422 extended to Mednow East by the Company was used to fund Mednow East’s working capital and provide support for its operations. As Amir Ali Reyhany-Bozorg and Felipe Campusano are directors of the Company and Karim Nassar is the Chief Executive Officer of the Company, and each are also shareholders of Mednow East, the transaction contemplated under the Share Purchase Agreement is a related party transaction under Multilateral Instrument 61-101 –Protection of Minority Securityholders in Special Transactions. The Company is exempt from the formal valuation and minority shareholder approval requirements imposed by MI 61-101 pursuant to the exemptions in section 5.5(a) and 5.7(a) of MI 61-101, as neither the fair market value of the Shares, nor the consideration paid therefor, exceeds 25% of the Company's market capitalization. The Transaction is subject to corporate and regulatory approvals, including TSX Venture Exchange approval. About Mednow Inc. Mednow is a healthcare technology company offering virtual access with a high-standard of care. Designed with accessibility and quality of care in mind, Mednow.ca provides virtual pharmacy and telemedicine services as well as doctor home visits through an interdisciplinary approach to healthcare that is focused on the patient experience. Mednow’s services include free at-home delivery of medications, a user-friendly interface for easy upload, transfer, and refill of prescriptions, access to healthcare professionals through an intuitive chat experience, a specialized PillSmart™ system that packages prescriptions and vitamins by date and time, and doctor consultations.

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FUTURE OF HEALTHCARE

Peloton Announces Growth Recapitalization of Grenova

Peloton Equity | March 22, 2022

Peloton Equity, LLC a Connecticut-based private equity firm that seeks to invest growth capital in innovative healthcare companies, announced that it has closed a growth and recapitalization investment in Grenova, Inc. a fast-growing manufacturer of green technology for the life sciences industry. Peloton, along with Hamilton Lane Impact Fund II and Morgan Stanley AIP Private Markets, invested growth capital and partnered with management and other investors to acquire a majority stake in Richmond, Virginia-based Grenova. The transaction is anticipated to enable Grenova to accelerate its sales and marketing efforts, launch additional products, and build out its presence globally. Ali Safavi, founder, president and CEO of Grenova, along with other management and certain existing shareholders will retain a significant ownership stake in the Company. Financial terms of the transaction were not disclosed. Founded in 2014 by Ali Safavi, Grenova designs, manufactures, and distributes instruments and associated consumables to the lab industry. The Company’s technology enables its customers – clinical labs, pharmaceutical/biotech companies, research institutions, agricultural companies, and others – to wash, dry and re-use single-use plastics. Grenova’s products aim to advance healthcare toward a more sustainable future by lowering costs in the laboratory industry, reducing biohazard waste in the environment, and mitigating supply chain risk for plastic consumables. “I am thrilled to be partnering with Peloton to help Grenova capitalize on the massive and unmet need for sustainability solutions in laboratories around the world,” said CEO Ali Safavi. “Peloton’s expertise and network will bring additional resources and business development opportunities to Grenova, and this growth-oriented transaction will help us accelerate the industry’s adoption of our innovative products and technologies.” “Peloton seeks to partner with high-growth companies like Grenova that deliver tangible and enduring value to the healthcare industry. The utilization of disposable plastics in the lab setting is rapidly growing and we are excited to support Grenova’s mission to address this unsustainable trend.” Michael O’Rourke, partner at Peloton, added, “We believe Grenova’s combination of differentiated product technology, sustainability value proposition and high-quality customer service is unique in the massive and growing life sciences tools industry. We are very excited to work with Ali and his team in supporting Grenova’s next phase of growth.” Ted Lundberg, partner and co-founder of Peloton Equity Crosstree served as the exclusive financial advisor to Grenova with respect to this transaction. Goodwin Procter LLP acted as legal advisor to Peloton and Williams Mullen acted as legal advisor to the Company. About Grenova Founded in 2014, Grenova™ is an innovative company that is revolutionizing lab consumables through high-quality waste reduction solutions. Grenova’s mission is to lower costs in the laboratory industry and reduce biohazard waste in the environment by delivering groundbreaking approaches in dealing with plastic consumables. Grenova’s existing products include the TipNovusTM family of pipette tip-washing solutions for labs such as the Automated TipNovus (ATN) Package, a fully integrated tip-washing solution; the TipLumisTM family of HEPA-filtered, temperature-controlled, UV-sanitized tip storage solutions; GrenoClean, a proprietary and scientifically validated cleaning solution; and Purus by Grenova™, a novel microwell plate cleaner launching in 2022. For more information, visit Grenova. About Peloton Equity Peloton Equity, LLC is a private equity firm focused exclusively on growth capital investments in the healthcare industry. Peloton was formed in 2014 as the successor firm to Ferrer Freeman & Company and invests in companies with between $10 million and $200 million of revenue that have the management team, market opportunity and business model to grow revenues significantly over the life of its investment. Peloton seeks to be a significant investor in companies with high-growth potential, driven by a clear value proposition to the healthcare industry. Peloton’s investment team has invested in over 35 unique healthcare companies and has deployed over $800 million in capital. Recent investments include AeroSafe Global, ClearSky Health, Friday Health Plans, and Journey Health & Lifestyle. About Hamilton Lane Hamilton Lane is a leading private markets investment management firm providing innovative solutions to sophisticated investors around the world. Dedicated exclusively to private markets investing for 30 years, the firm currently employs more than 520 professionals operating in offices throughout North America, Europe, Asia Pacific and the Middle East. Hamilton Lane has $851 billion in assets under management and supervision, composed of over $98 billion in discretionary assets and nearly $753 billion in advisory assets, as of December 31, 2021. Hamilton Lane specializes in building flexible investment programs that provide clients access to the full spectrum of private markets strategies, sectors and geographies. About Morgan Stanley AIP Private Markets AIP Private Markets, an investment team within Morgan Stanley Investment Management, seeks to deliver innovative private markets solutions to a global client base. It’s built-for-purpose team of ~60 dedicated professionals draws.

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HEALTH TECHNOLOGY

Reliq Health Technologies, Inc. Signs Agreement with Cognizant to Expand Care Management Capabilities to Large Scale Clients

Reliq Health Technologies | January 06, 2022

Reliq Health Technologies Inc., a rapidly growing global healthcare technology company that develops innovative Virtual Care solutions for the multi-billion dollar Healthcare market, today announced an agreement with Cognizant to leverage Cognizant’s Care Management resources for future deployments of Reliq’s iUGO Care software to large scale clients. Cognizant provides services to 300+ health systems and over 347,000 care providers who together provide care to over 200 million lives globally. “We are excited to be expanding our Care Management capabilities by leveraging Cognizant’s extensive resources, network, and experience in healthcare. Cognizant will be able to rapidly deploy a full suite of Care Management services to our largest new iUGO Care customers going forward. Reliq will continue to achieve the same or better profit margins on the Care Management component of our revenue as a result of this partnership but will be able to deploy our full-service solution (iUGO Care software plus Care Management services) to very large clients much faster. Our agreement with Cognizant will allow us to scale to new levels and provide even the largest healthcare organizations with confidence that we can meet the needs of their patient populations, no matter the size. This agreement will allow Reliq to access new opportunities to provide virtual care to much larger patient populations both within the US and globally.” Dr. Lisa Crossley, CEO of Reliq Health Technologies, Inc. Reliq’s iUGO Care solutions improve health outcomes, allow clinicians to provide high quality care to patients anytime, anywhere, and reduce the cost to the healthcare system, benefiting patients, clinicians and payers. Reliq’s iUGO Care and iUGO Home products are a critical component of a fully connected healthcare system. Reliq’s remote patient monitoring platform, iUGO Care, is currently used by a diverse array of healthcare organizations in the US. These include primary care practices, specialist practices, home care agencies, skilled nursing facilities, HIV clinics and hospice care agencies. The agreement with Cognizant will expand Reliq’s capabilities and extend its reach, allowing Reliq to provide its iUGO Care solution to managed care organizations, large health systems and health insurance providers. About Cognizant Cognizantengineers modern businesses. We help our clients modernize technology, reimagine processes and transform experiences so they can stay ahead in our fast-changing world. Together, we're improving everyday life. About Reliq Health Reliq Health Technologies is a rapidly growing global healthcare technology that specializes in developing innovative Virtual Care solutions for the multi-billion dollar Healthcare market. Reliq’s powerful iUGO Care platform supports care coordination and community-based virtual healthcare. iUGO Care allows complex patients to receive high quality care at home, improving health outcomes, enhancing quality of life for patients and families and reducing the cost of care delivery. iUGO Care provides real-time access to remote patient monitoring data, allowing for timely interventions by the care team to prevent costly hospital readmissions and ER visits. Reliq Health Technologies trades on the TSX Venture under the symbol RHT, on the OTC as RQHTF and on the WKN as A2AJTB.

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Spotlight

As one of the area’s only locally-owned, nonprofit health systems, Springfield, Mo.-based CoxHealth plays a major role in both the physical and economic health of southern Missouri.

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