Mednow Launches Mednow Virtual Care
- Proprietary digital telemedicine service now available in Ontario and British Columbia
- Allows for the optimization of the patient experience between a patient’s pharmacy and medical needs
- New revenue streams will include physician consultation fees
September 15, 2021 07:00 AM Eastern Daylight Time
TORONTO–(BUSINESS WIRE)–Mednow Inc. (“Mednow” or the “Company”) (TSXV:MNOW), Canada’s on-demand virtual pharmacy, is pleased to announce the Company has launched Mednow Virtual Care, a proprietary platform to provide telemedicine services to Mednow clients. Mednow Virtual Care can be accessed online through the following link: Mednow Virtual Care. The Mednow app now offers both pharmacy services and virtual physician consultations, and is available for Apple and Android users.
Mednow Virtual Care joins other services such as pharmacy services and over the counter products under the Mednow banner to provide seamless care. This multimodal approach to healthcare facilitates the patient experience from diagnosis to prescription delivery and adds to the Company’s recurring care model. The expanded offering also provides a larger platform to leverage the Company’s recent acquisition of Medvisit, Canada’s longest standing doctor home visit service, and to leverage future acquisitions.
Mednow Virtual Care is expected to add a new revenue stream for Mednow through overhead fees for physician services, in addition to pharmacy and over-the-counter product revenue. By implementing an omni-channel model of patient care, Mednow is also well positioned to attract additional institutional accounts that are focused on enhancing service for its beneficiaries and reducing healthcare costs.
Mednow is currently providing same-day delivery of pharmacy products in the Greater Toronto Area, the Greater Vancouver Area and Halifax. The Company also services the entire provinces of Ontario, British Columbia and Nova Scotia. Mednow plans is continuing its national roll-out and plans to enter new provinces in the near-term.
“The formula to win in the Canadian pharmacy sector is to provide the highest level of service to patients. Our approach is to develop an integrated and seamless digital pharmacy and physician platform, and the launch of Mednow Virtual Care is a major milestone in that direction. We will continue to expand our national pharmacy presence and as we roll out Mednow Virtual Care we will be optimally positioned to service both individuals and institutions,” said Karim Nassar, CEO of Mednow.
About Mednow Inc.
Mednow is a healthcare technology company offering virtual access with exceptional care. Designed with access and quality care in mind, Mednow.ca provides virtual pharmacy and telemedicine services, as well as doctor home visits, with convenience and 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements:
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, are forward-looking statements and contain forward-looking information, including statements relating to: anticipated results and benefits arising from Mednow Virtual Care, and the growth of the Mednow platform. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including that the Company will be able to complete the launch of Mednow Virtual Care in the anticipated timeframe and the Company’s expectations regarding the results and benefits arising from Mednow Virtual Care. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation, that the Company will not be able to complete the transactions contemplated in this news release or in the anticipated time frames, that actual results and benefits arising from Mednow Virtual Care may not be as anticipated by management, and other risk factors set out in the Company’s final long form prospectus dated February 26, 2021 available for review on the Company’s profile at www.sedar.com. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
Investor Relations Contact:
Benjamin Ferdinand, Chief Financial Officer
Marc Charbin, Investor Relations