• Achieved record quarterly revenue and adjusted EBITDA
• Total medical services revenue increased by 22% to $14.2 million in the quarter
• Adjusted EBITDA margin improved to 7.3% vs. 4.5% in the comparable prior year quarter
• Building on strong quarterly results by working to expand network and service offerings
TORONTO, ONTARIO, May 20, 2021 – NeuPath Health Inc. (TSXV:NPTH), (“NeuPath” or the “Company”), owner and operator of a network of clinics that deliver category-leading treatment for chronic pain, as well as spinal injuries, sports-related injuries, and concussions, today announced its financial and operating results for the three months ended March 31, 2021. All figures are in Canadian dollars, unless otherwise noted.
Financial and Operational Highlights
• Total medical services revenue increased by 22% to $14.2 million for the three months ended March 31, 2021 compared to $11.6 million in Q1 2020;
• Adjusted EBITDA(1) improved to $1.0 million or 7.3% of revenue for the three months ended March 31, 2021 compared to $0.5 million or 4.5% of revenue in Q1 2020; and
• On February 8, 2021, the Company announced the acquisition of HealthPointe Medical Centres Ltd. (“HealthPointe”), a leading pain, spine and sport medicine clinic located in Edmonton, Alberta. HealthPointe provides a strong platform to build out the Company’s network and operations in Western Canada. The Company is currently working on opportunities to build out its network in Alberta and the rest of Canada.