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Enter Symbol
or Name

MCI Onehealth Technologies Inc
Symbol DRDR
Shares Issued 50,075,202
Close 2022-12-12 C$ 0.60
Market Cap C$ 30,045,121
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MCI Onehealth to consolidate five Ontario clinics

2022-12-13 11:17 ET - News Release

Dr. Alexander Dobranowski reports


MCI Onehealth Technologies Inc. is consolidating certain Ontario clinics within its high-performance health care network. The consolidation is expected to enable extended hours at remaining clinics, enable intensification of services and significantly reduce overhead costs.

Consolidated MCI clinics will cease operations under MCI management in the company's fourth quarter of 2022, with the majority of physicians, nurses and staff expected to be redeployed at remaining MCI clinics. Ontario and Alberta clinics that operate as MCI The Doctor's Office will continue to provide top-quality, accessible walk-in, family practice and specialist care to MCI's clientele of more than one million patients. The five MCI The Doctor's Office clinics in Alberta are not participating in the consolidation.

"MCI has made the strategic decision to consolidate five undercapacity clinics into its remaining 15 Ontario clinics where possible. We fully expect that this action will have a positive impact on the financial performance of the company and enable the company to remain focused on sustained growth in its higher-margin, data-driven and clinical research initiatives," said Scott Nirenberski, MCI Onehealth chief financial officer.

"MCI The Doctor's Office clinics and their 30 years of care provision have been an integral part of achieving MCI's vision of improving the access to and the quality of care for patients -- this will continue to be the case," said Dr. Alexander Dobranowski, MCI Onehealth chief executive officer. "Patients can continue to trust that they'll receive top-quality, in-person care within the MCI network. Consolidating these clinics will enable us to provide greater, more convenient access to our patients, with extended hours and more varied specialty services. This strategic consolidation brings us closer to our vision of having every MCI clinic be a one-stop centre of excellence in personalized and preventive technology-enabled care."

The intensification of services available at a given clinic is expected to bolster MCI's steadily increasing revenue-per-patient metric and MCI's ability to involve patients in research and data-driven initiatives.

"The vast majority of our patients are already being seen by physicians and specialists at the clinics to which our physicians, nurses and staff will be redeployed. Communication to patients should encourage their ongoing choice of MCI as their health care provider, and we believe they will benefit from the more concentrated services. Our comprehensive virtual care platform, MCI Connect, remains available for many of our patients, while the consolidated network of MCI clinics will still be conveniently accessible for top-quality, in-person care," said Jennifer Foster, MCI chief operating officer.

"We believe this strategic move will improve overall financial performance and improve the patient experience, making it good for the business, our patients and physicians, and for the MCI brand," added Dr. Dobranowski.

About MCI Onehealth Technologies Inc.

MCI is a health care technology company focused on empowering patients and doctors with advanced technologies to increase access, improve quality and reduce health care costs. As part of the health care community for over 30 years, MCI operates one of Canada's leading primary care networks with more than 280 physicians and specialists, serves more than one million patients annually and had nearly 300,000 telehealth visits last year, including on-line visits via MCI Connect. MCI additionally offers an expanding suite of occupational health service offerings that support a growing list of nearly 600 corporate customers. MCI provides data insights as a service in six categories: rare disease; complex major medical/chronic; patient cohort building; clinical trial recruitment; synthetic health data; and bespoke insights. Led by a proven management team of doctors and experienced executives, MCI remains focused on executing a strategy centred around acquiring technology and health services that complement the company's current road map.

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