Carebook's CoreHealth Unit Receives Largest Single Contract
Multi-Year Contract Brings Total New Orders Received by Carebook Over Last Seven Months to $6.4 Million
MONTREAL, June 15, 2022 /CNW Telbec/ - Carebook Technologies Inc. ("Carebook" or the "Company") (TSXV: CRBK) (OTCPK: CRBKF) (XFRA: PMM1) a leading Canadian provider of innovative digital health solutions confirmed today that CoreHealth, its wholly owned subsidiary received its largest single contract ever from a U.S. based global leader in employee benefits. The $2.9 million multi-year contract, signed on May 27th 2022, brings total new orders received by Carebook over the last seven months to $6.4 million. These contracts, from a diverse base of clients located in the U.S and Canada, provide confirmation of the success of Carebook's strategy and renewed focus on the fast-growing employer vertical.
CoreHealth offers employers, group benefits providers, and corporate wellness providers industry leading platform-as-a-service technology that powers the delivery of employee health and wellness programs; engaging employees with various interventions like coaching, self-directed programs, group challenges, and habit trackers. The platform offers over 30 distinct services in the form of APIs including scheduling, teleconferencing, questionnaires, content feeds, messaging and more.
"This contract represents a distinct win for Carebook," commented Michael Peters, Carebook CEO. "Our new client is a leader in employee benefits and offers services to more than one million plan participants. The contract contemplates the migration of all plan participants to the CoreHealth platform over the next 36 months. CoreHealth's solution was selected after a competitive process because of the phenomenal capabilities of its technology to offer flexible, configurable, and scalable solutions that are above all easy to integrate. This new contract, CoreHealth's largest single contract ever, is a clear endorsement of our unmatched ability to seamlessly connect employees to a host of comprehensive health and wellness solutions.
Carebook's digital health platform empowers its clients and more than 3.5 million members to take control of their health journey. During 2021, the Company completed the acquisitions of InfoTech Inc., a global leader in health and productivity risk management, and CoreHealth Technologies Inc., owner of an industry-leading wellness platform. In combination, these companies create a comprehensive digital health platform that includes both assessment tools and the technology to deliver complementary solutions. Carebook's shares trade on the TSXV under the symbol "CRBK," on the OTC Markets under the symbol "CRBKF," and are listed on the Open Market of the Frankfurt Stock Exchange under the symbol "PMM1."
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release includes forward-looking information and forward-looking statements within the meaning of Canadian securities laws regarding Carebook, its subsidiaries and their business. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this release include statements with respect to the migration of plan participants to CoreHealth's platforms. Such statements are based on the current expectations of the management of Carebook and are based on assumptions and subject to risks and uncertainties. Although the management of Carebook believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and undue reliance should not be placed on such forward-looking statements. The forward-looking statements reflect the Company's current views with respect to future events based on currently available information and are inherently subject to risks and uncertainties. The forward-looking events and circumstances discussed in this release may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, including economic factors, management's ability to manage and to operate the business of Carebook, management's ability to successfully integrate the Company's completed acquisitions and to realize the synergies of such acquisitions, management's ability to successfully complete product studies, the equity markets generally and risks associated with growth and competition, as well as the risk factors identified in the Company's management's discussion and analysis for the year ended December 31, 2021 and described under the heading "Item 21 – Risk Factors" in the Listing Application of the Company dated September 28, 2020, each of which can be found on SEDAR under the Company's profile at www.sedar.com. Although Carebook has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Carebook does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. In addition, the current situation and future developments with respect to the COVID-19 pandemic could cause certain of the assumptions and information set forth herein or the fact that on which such assumptions are based to differ materially from previous expectations including in respect of demand for our products, access to debt and equity capital and other factors.
SOURCE Carebook Technologies Inc.
Carebook Investor Relations Contact: Olivier Giner, CFO, Email : [email protected], Telephone: (450) 977-0709
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