Mr. Darrell Messersmith reports
CARESPAN HEALTH, INC. ANNOUNCES SOFTWARE-AS-A-SERVICE AGREEMENT WITH GOLDEN CARE SOLUTIONS, A NATIONAL MEDICAL PRACTICE
Carespan Health Inc. has signed a new software-as-a-service (SaaS) agreement for the use of its digital care platform.
Golden Care Solutions (GCS) is a national medical practice that collaborates with other practices and providers nationwide to provide comprehensive preventive services built on annual wellness visits, remote patient monitoring and chronic care management.
Damon Kenton, GCS chief executive officer, comments: "We help improve outcomes for patients nationwide by identifying and addressing gaps in care. GCS clinicians improve patient outcomes and increase engagement while helping families reduce their cost of care. We selected Carespan because it is easy to learn and utilize while meeting all our requirements, it accepts standardized data sets from our clients' existing EHRs, and it will reduce our internal development expenditure."
Carespan's platform will be used to support GCS's clinicians as they launch services with client practices in the next month.
According to Darrell Messersmith, Carespan chief operating officer: "As we collaborate with Golden Care Solutions, our team at Carespan is eager to be able to work with GCS to implement our digital care platform with their providers. We firmly believe in our platform's capability to reshape health care delivery, and this partnership is another testament to that vision. The SaaS nature of the agreement also allows us to diversify and expand revenue sources that support margin growth."
Further to its news release dated Feb. 22, 2023, the company has reduced the exercise price of certain common share purchase warrants issued on Sept. 14, 2022, pursuant to the closing of a non-brokered private placement of units of the company (for further details on such private placement see the company's news release dated Sept. 14, 2022). The exercise price of the warrants from 40 cents to 17 cents per common share, in accordance with the policies of the TSX Venture Exchange.
Certain individuals who were/are each considered a related party (as such term is defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions) hold the class of warrants which were subject to the warrant repricing.
The warrant repricing constitutes a related party transaction as defined under MI 61-101. Such transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the warrants held by the interested party, nor the consideration for the warrants paid by such interested party, exceeds 25 per cent of the company's market capitalization.
Pursuant to the policies of the TSX-V, because Mr. de Villa, Holger Micheel-Sprenger and Mr. Becker beneficially own, in the aggregate, more than 10 per cent of the warrants subject to the warrant repricing, the aggregate number of their warrants that could be repriced was limited to 10 per cent of the total number of repriced warrants.
About Carespan Health Inc.
Carespan is a health care technology and services company incorporated in British Columbia. Carespan's proprietary Clinic-in-the Cloud is a clinical workflow-driven platform designed by doctors that integrates remote patient monitoring, diagnostic tools, the patient's electronic health record, care collaboration capabilities, patient engagement, and e-prescribing and lab ordering. Carespan's platform seamlessly supports both in-person and virtual/telehealth care. Carespan is using this platform combined with essential business services to build provider networks across the United States that deliver primary and chronic care, and urgent care as well as behavioural health care.
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