Diagnostic imaging represents the cornerstone of modern healthcare, with availability and accuracy playing important roles in improving patient outcomes. However, access to cutting edge equipment, as well as a shortage of radiologists in small urban and rural hospitals across Canada, has led to a delay in the medical imaging process for patients that need it most.
By 2027, the global medical imaging market is expected to reach US$43.33 billion. One of the major movements within the Canadian healthcare industry involves establishing and maintaining a standard of consistent and efficient care across small, large, rural and urban hospitals. On average, nearly 30,000 patients require a CT scan every month in Ontario, suggesting an urgent need for teleradiology services that may decrease the delay for emergency room patients seeking immediate medical attention.
Leveljump Healthcare (TSXV:JUMP) (OTCQB: JMPHF), or JUMP, is a healthcare company that offers teleradiology solutions through its wholly owned subsidiary Canadian Teleradiology Services (CTS), which specializes in off-site readings of radiology scans on-demand, 24 hours a day and seven days a week. CTS has been active in the Canadian medical imaging sector since 2004 and provides reading services for a diverse range of medical imaging tests, including MRIs, CT scans, ultrasounds, X-rays and more.
Remote radiology was designed to overcome a shortage of radiologists and decrease wait times for emergency room patients. With this system, once a hospital conducts a radiology scan, scan results are immediately forwarded to CTS and analyzed by a team of qualified radiologists. All analyses are completed remotely using a secure server. Findings are then reported within 60 minutes in emergency cases and within 24 hours for elective work. On-site medical staff then rely on the findings to form an accurate diagnosis, informing subsequent treatment.
JUMP powers its remote teleradiology services by relying on multi-year contracts that offer automatic renewals, ensuring long-term partnerships with recurring revenue streams. By 2023, the company plans to increase CTS partnerships to a total of 112 Canadian hospitals, expanding across provinces and offering valuable services for private clinics that are severely understaffed. Over its 16 years of operation, CTS has demonstrated a strong financial performance, with existing positive cash flow coupled with 12-18 percent growth per year over each of the last three years.
The growing digital health market is transforming the delivery of healthcare to Canadian patients. JUMP is continually focused on new opportunities within the diagnostic imaging industry by investing in innovative, patented technology as well as securing the distribution rights for up-and-coming diagnostic imaging hardware. Similar teleradiology and telemedicine companies within the sector include HCA Healthcare (NYSE:HCA), MEDNAX (NYSE:MD) and Teladoc Health (NYSE:TDOC).
Healthcare is one of the few industries that is considered “recession-proof,” and diagnostic imaging represents one its core pillars. JUMP is now focused on targeting its remote radiology services toward independent health facilities (IHFs) with long-term plans of building a national chain of diagnostic imaging clinics. The company’s imaging center acquisition strategy is focused on consolidating a segmented industry that currently operates without a large regional presence. The company plans to establish a brand that referring physicians can depend on and that represents the very best of patient care.
Leveljump Healthcare’s Company Highlights
- LevelJump Healthcare is a healthcare company that offers teleradiology solutions through its wholly owned subsidiary Canadian Teleradiology Services (CTS).
- CTS provides 24/7 remote radiology services that offer a significant benefit toward severely understaffed hospitals and private clinics across the country.
- The company has shown organic growth from existing contracts.
- JUMP is focused on the acquisitions of private clinics (IHFs) with the long-term goal of establishing a dominant national provider of imaging services.
- LevelJump has closed its acquisition of 23.8 percent of the issued and outstanding shares of each of Shaw Vision Inc. and Shaw Lens Inc.
Canadian Teleradiology Services (CTS)
Diagnostic imaging represents a core pillar of Canada’s healthcare system, especially when faced with the country’s aging population. However, the demand for radiologists is increasing at a faster pace than the workforce is growing. Remote radiology represents one of the easiest ways for hospitals to keep their emergency departments well-prepared at all times.
JUMP owns and operates CTS, which specializes in offering 24/7 on-call remote radiology services. Over the past 16 years, CTS has established itself as a leader in emergency room radiology services.
CTS relies on a secure server and specialized software to transmit diagnostic images to a team of board-certified radiologists. The platform relies on technologies such as advanced graphics processing, voice recognition and image compression to support a prompt and accurate analysis.
CTS relies on dozens of skilled, board-certified radiologists and supporting staff to support immediate patient care. All CTS doctors, staff and workflows follow PIPEDA, HIPAA, local regulations and other patient and technology privacy requirements. CTS radiologists specialize in MRI, CT, PET, US, NM, MAMMO, X-ray and BMD modalities and offer expertise in emergency room care.
Leveljump Healthcare’s Management Team
Mitch Geisler – CEO, Chairman
Mitch has been the CEO of CTS since 2010 and has overseen its operations and growth to one of the leaders in the Canadian teleradiology space. Mitch is a seasoned entrepreneur in multiple sectors including healthcare, mining and hospitality. Mitch has built companies from the ground up and has extensive experience in operations management and oversight. He has experience implementing policies and procedures, directing marketing and growth strategies, and providing initiatives for long term corporate success. Mitch is a graduate of York University where he earned a Bachelor of Art degree in History.
Rob Landau – CFO, Director
Rob has been working as a consultant to CTS since 2009 and became its CFO in 2019. He has advised on its operational growth and accounting matters. Rob has many years of experience with corporate finance and structuring, corporate accounting and auditing as well as working with start-up companies. Rob has a great ability to think outside the box to assist in problem solving, securing funding and creating structured corporate vision and focus. Rob has a Bachelor of Commerce degree from the University of Toronto specializing in Actuarial Science and Corporate Finance.
Sandra J. Hall – Director
Sandra Hall has provided financial, administrative and executive services to numerous publicly traded companies independently since 1996 ranging from President of EnerNorth Industries Inc., an American Stock Exchange listed company, to secretary and director of TSXV Canadian Capital Pool companies Good2Go Corp and Good2Go2 Corp. As such, Hall has extensive practice in corporate secretarial, financial administration and regulatory and investor communications for public and private companies. Throughout her career, Hall has also held various directorships and executive positions in reporting issuers including: Corporate Secretary and Comptroller of Novicius Corp.; President of EnerNorth Industries Inc; Secretary, Comptroller and Director of API Technologies Corp.; Director of TNK Resources; Special Committee Member and a Director of Quarry Oil & Gas Ltd; and a director of Rally Energy Corp. Hall has a comprehensive understanding of financial statements, accounting practices, audit committee responsibilities and reporting requirements in Canada and the United States.
Jeff Stevens – Director
Jeff is the CEO of Psyched Wellness, a Canada-based health supplement company trading on the CSE that is focused on the distribution of functional mushroom and associated consumer packaged goods. He is a seasoned capital markets and deal structuring professional who has taken several companies public, including Datametrex AI Limited, Graph Blockchain, New Wave Esports and Psyched Wellness via reverse takeovers on various Canadian stock exchanges. He has also advised on numerous M&A opportunities. Jeff has held both senior officer and director roles with public companies including: Co-Founder, President and COO of Datametrex AI Limited; Interim CEO of Graph Blockchain; Director of New Wave Esports; and Director of Global UAV Technologies.