Mr. Darrell Messersmith reports

CARESPAN HEALTH PROVIDES STRATEGIC BUSINESS UPDATES AND ANNOUNCES LEADERSHIP TRANSITION

Carespan Health Inc. has provided an update on recent strategic initiatives and has made a leadership transition.

Strategic business shifts and updates

U.S. Military contract expansion

Carespan continues to focus on expanding its network of providers performing medical examinations for U.S. military veterans and reservists -- a business segment with improved margins. Despite continued growth in its provider network and a decline in referral volumes possibly due to federal budget adjustments and contract management strategies, the company remains optimistic about the potential impact of the PACT Act (1), which the company expects to drive increased demand for V.A. medical exams and boost the volume of disability assessments as backlogged claims are processed.

Golden Care Solutions partnership

The company has deepened its collaboration with Golden Care Solutions, leveraging Carespan's clinic-in-the-cloud platform to support comprehensive preventive services such as annual wellness visits, remote patient monitoring and chronic care management. Carespan has signed a new agreement with Golden Care Solutions to expand RPM and CCM services to members of the American-APN network. This partnership aims to empower practices nationwide to deliver value-based care and drive better health outcomes.

Update on ChopraX LLC transaction

Further to its press releases dated Nov. 7, 2023, and July 8, 2024, the parties have terminated the definitive agreement entered into between the company and ChopraX LLC, dated Sept. 12, 2023. Notwithstanding the termination, the company and the team at Chopra intend to collaborate with respect to utilizing the Chopra whole person care brand in the company's digital care platform and will continue working with Dr. Sheila Patel as medical director.

Leadership transition

Carespan announces that its chief financial officer, Leslie Markow, has resigned from her position as chief financial officer of the company, effective Sept. 3, 2024. Ms. Markow is remaining with the company on an interim basis as a contractor to facilitate a smooth transition of responsibilities to her successor (once identified). Ms. Markow's contributions have been invaluable, and her continued involvement will ensure a seamless handover as Carespan advances its strategic initiatives.

Outlook and future initiatives

Carespan continues to focus on scaling its digital health solutions and expanding its provider networks to capture opportunities in underserved U.S. markets. The strategic talks with a potential artificial intelligence partner are continuing, with the goal of aligning Carespan with AI capabilities that enhance clinical decision making and operational efficiencies.

About Carespan Health Inc.

Carespan is a health care technology and service company. Carespan, with its office in British Columbia, is the parent company of the Carespan group, which holds a 100-per-cent interest in its operating subsidiary, Carespan Holdings Inc., a Delaware incorporated company. Carespan is a health care technology and service company that operates a digital platform integrating remote patient monitoring, diagnostic tools, patient electronic health records and telehealth services. Carespan's clinic-in-the-cloud platform supports both in-person and virtual care, aiming to improve health care access and outcomes globally.

(1) "The Sergeant First Class Heath Robinson Honoring our Promise to Address Comprehensive Toxics Act of 2022."

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