TORONTO, ONTARIO, April 20, 2021 – NeuPath Health Inc. (TSXV:NPTH) (“NeuPath” or the “Company”), owner and operator of a network of 13 clinics across Canada that deliver category-leading treatment for chronic pain, as well as spinal injuries, sports-related injuries, and concussions, is pleased to provide the following updates:
- NeuPath is expanding its current service offering in Ontario to add fluoroscopic imaging in clinics in Ottawa and the Greater Toronto Area. These services are already offered at the NeuPath’s HealthPointe Medical (“HealthPointe”) clinic in Edmonton.
- The fluoroscopy suites are also being built to meet non-hospital surgical facility standards and guidelines.
- The Company’s revenues for the first quarter of 2021 are anticipated to be in the range of $13.8 to $14.3 million, an increase of approximately 20% over the comparable period in 2020. Revenue for the first quarter includes the acquisition of HealthPointe for the period from February 8th to March 31st.
“Adding fluoroscopic imaging allows us to offer additional treatment options for patients, particularly patients suffering from back pain. In addition, we have already seen the benefits of adding fluoroscopic imaging from a physician recruitment perspective,” stated NeuPath CEO, Grant Connelly. “Hospitals were overburdened prior to the COVID-19 pandemic, which has made the situation worse. We believe that building non-hospital surgical facilities positions NeuPath to be part of the solution and help ease the burden on the health care system.”
NeuPath will provide full details of its financial results when it releases its first quarter financial results on Thursday, May 20th, before the markets open.
NeuPath is a vertically integrated health care provider utilizing research, data-driven insights, technology, and interdisciplinary care to help restore function for patients impacted by chronic pain, spinal injuries, sport-related injuries, and concussions. With equity ownership in fifteen clinics in Ontario and Alberta, NeuPath is building out a national network to better serve patients across Canada. NeuPath is focused on transforming the hope of a better life into the reality of a life more fully lived.
This news release contains forward-looking statements. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, the building of fluoroscopy suites at certain of the Company’s clinics, the anticipated revenues for the three months ended March 31, 2021 and the anticipated release date of the Company’s first quarter financial results for 2021 are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations included in this news release include, among other things, the severity, duration and spread of the COVID-19 outbreak, as well as its direct and indirect impacts that the pandemic may have on the Company’s operations, adverse market conditions, risks associated with obtaining and maintaining the necessary governmental permits and licences related to the business of the Company, increasing competition in the market and other risks generally inherent in the chronic pain, sports medicine, concussion and workplace health services markets. A comprehensive discussion of these and other risks and uncertainties can be found in the Company’s annual information form dated March 25, 2021 filed on SEDAR under the Company’s profile at www.sedar.com.
Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions underlying the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to their inherent uncertainty.
This news release contains future oriented financial information and financial outlook information (collectively, “FOFI”) (including, without limitation, statements regarding anticipated revenues for the first quarter of 2021), and are subject to the same assumptions, risk factors, limitations and qualifications as set forth in the above paragraph. The FOFI has been prepared by management to provide an outlook of the Company’s activities and results, and such information may not be appropriate for other purposes. The Company and management believe that the FOFI has been prepared on a reasonable basis, reflecting management’s reasonable estimates and judgments, however, actual results of operations of the Company and the resulting financial results may vary from the amounts set forth herein. Any FOFI speaks only as of the date on which it is made and the Company disclaims any intent or obligation to update any FOFI, whether as a result of new information, future events or results or otherwise, unless required by applicable laws.
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