VANCOUVER, BC, Aug. 30,
2023 /CNW/ - CareSpan Health, Inc. (TSXV: CSPN) (the
"Company" or "CareSpan"), a company addressing the
shortage in primary care and mental health through its provider
networks, American-APN and American-Med Psych, and its leading
"Clinic-in-the-Cloud" integrated digital care platform, is pleased
to announce 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 CEO 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 datasets 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 healthcare 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."
Warrant Repricing
Further to its news release dated February 22, 2023, the Company has reduced the
exercise price of certain common share purchase warrants (the
"Warrants") issued on September 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 on
September 14, 2022). The exercise
price of the Warrants from $0.40 to
$0.17 per common share (the
"Warrant Repricing"), in accordance with the policies of the
TSX Venture Exchange (the "TSXV").
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 ("MI 61-101")) hold the class of Warrants
which were subject to the Warrant Repricing:
Related
Party
|
Warrants
Held
|
Rembert de Villa (Chief
Executive Officer)
|
260,700
|
William Bradford
White
|
1,200,000
|
ICME International
AG*
|
263,157
|
James Becker
|
208,560
|
* ICME International AG
is a healthcare consulting organization based in Germany and
Switzerland,
which Holger Micheel-Sprenger (a director of the Company) is CEO
and has an ownership stake in
|
.
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, exceed 25% of the
Company's market capitalization.
Pursuant to the policies of the TSXV, because Rembert de Villa, Holger
Micheel-Sprenger, and James
Becker beneficially own, in the aggregate, more than 10% of
the Warrants subject to the Warrant Repricing, the aggregate number
of their Warrants that could be repriced was limited to 10% of the
total number of repriced Warrants.
About CareSpan Health,
Inc.
CareSpan is a healthcare 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 U.S. that deliver primary and
chronic care, and urgent care as well as behavioral health
care.
About Golden Care
Solutions
Golden Care Solutions (GCS) is a national medical practice that
collaborates with other practices and providers nationwide to
provide comprehensive preventive services built upon the basics of
Annual Wellness Visits, Remote Patient Monitoring, and Chronic Care
Management. GCS has been proven to increase provider revenue,
reduce care expenses and increase patient engagement in their
ongoing care. Doctors make more revenue, insurance carriers and
patients spend less, and patients get better care.
For further information please visit:
http://www.carespanhealth.com, http://www.americanapn.com and
http://www.americanmedpsych.com
Forward-Looking
Statements
This news contains "forward-looking statements" within the
meaning of applicable Canadian securities laws (collectively,
"forward-looking statements") which reflect the current
expectations of management of the company's future growth, results
of operations, performance, and business prospects and
opportunities, Forward-looking statements are frequently, but not
always, identified by words such as "may", "would", "could",
"will", "should", "expect", "plan", "anticipate", "believe",
"estimate", "predict", "potential for", "intend" and similar
expressions or the negative of these terms or other comparable
terminology, although these words may not be present in all
forward-looking statements.
Forward-looking statements are based on management's assumptions
as at the date of the forward-looking statements are provided.
Though management believes that its assumptions are reasonable in
the circumstances, forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause the
Company's actual results, performance or achievements to differ
materially from all or any of the future results, performance or
achievements expressed or implied by forward-looking statements.
These factors should be considered carefully, and prospective
investors should not place undue reliance on the forward-looking
statements.
Although the forward-looking statements contained in the news
release are based upon what management currently believes to be
reasonable assumptions, the Company cannot assure prospective
investors that actual results, performance or achievements will be
consistent with these forward-looking statements. Except as
required by law, the Company expressly disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or
otherwise.
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE CareSpan Health, Inc.