Life Science News

LevelJump Healthcare Corp. a Canadian leader in B2B telehealth solutions, is pleased to announce today it has reported financial results for the third fiscal quarter ended September 30th, 2021. All amounts are expressed in Canadian dollars.Financial and Operational HighlightsRevenues from Canadian Teleradiology Services, Inc. operations hit record level with $1,739,465 in revenues in the third quarter.Gross profit ...

LevelJump Healthcare Corp. (TSXV: JUMP) (OTCQB: JMPHF) (FSE: 75J) ("Leveljump" or the "Company"), a Canadian leader in B2B telehealth solutions, is pleased to announce today it has reported financial results for the third fiscal quarter ended September 30th, 2021. All amounts are expressed in Canadian dollars.

Financial and Operational Highlights

  • Revenues from Canadian Teleradiology Services, Inc. ("CTS") operations hit record level with $1,739,465 in revenues in the third quarter.

  • Gross profit from CTS operations was $356,245 for the quarter, a 20.9% margin.

  • Year over Year Q3 revenue increase of $221,090, an increase of 14.6%.

  • Q3 revenue increase compared to Q2 of 6%.

  • Clean balance sheet with no long-term debt.

2021 Q3 Financial Results for Leveljump

  • Revenues of $1,739,465 in Q3 and $4,924,559 for the nine months ended September 30, 2021.

  • CTS net operating profit of $158,344 in Q3. $356,245 for the nine months ended September 30, 2021.

  • Adjusted EBITDA of $(277,000) for Q3 and $(623,357) for the nine months ended September 30, 2021.

Management Comments

"Our operating subsidiary CTS had a strong third quarter and demonstrated a net profit position. Our negative EBITDA is primarily due to administrative costs for the parent company legal expenses and advertising and marketing, we expect that those costs will be greatly reduced in 2022 and with the revenue stream from acquisitions and the growth of CTS, profits from the operating businesses will overshadow the costs of maintaining the public company," said Rob Landau, CFO.

"Our telehealth services had a fantastic quarter of revenue growth and have set us on a path for our best year on record," said Mitch Geisler, CEO. "With the current operations rapidly growing, and our recent signed acquisitions, we have a positioned the company well for 2022."

Non-IFRS Financial Measures

This news release contains financial terms (such as adjusted EBITDA) that are not considered in IFRS. Such financial measures, together with measures prepared in accordance with IFRS, provide useful information to investors and shareholders, as management uses them to evaluate the operating performance of the Company. The Company's determination of these non-IFRS measures may differ from other reporting issuers, and therefore are unlikely to be comparable to similar measures presented by other companies. Further, these non-IFRS measures should not be considered in isolation or as a substitute for measures of performance or cash flows prepared in accordance with IFRS. These financial measures are included because management uses this information to analyze operating performance and liquidity.

Adjusted EBITDA & Annual Revenue Run Rate

Management believes adjusted EBITDA is a useful supplemental measure to determine the Company's ability to generate cash available for working capital, capital expenditures, debt repayments, interest expense and income taxes.

EBITDA refers to net income (loss) determined in accordance with IFRS, before depreciation and amortization, net interest expense (income) and income tax expense (recovery). The Company defines adjusted EBITDA as EBITDA, plus stock-based compensation expense, restructuring, fair value adjustments, listing expense and transaction costs, impairment and finance income.

A reconciliation of adjusted EBITDA to net income (loss) is as follows:



Table 1

To view an enhanced version of this table, please visit:
https://orders.newsfilecorp.com/files/7249/105520_leveljumptable1.jpg

For further details on the results, please refer to Leveljump's Interim Management, Discussion and Analysis and Unaudited Condensed Interim Consolidated Financial Statements for the quarter ended September 30, 2021, which are available on the Company's website (www.leveljumphealthcare.com) and under the Company's profile on SEDAR (www.sedar.com).

About Leveljump Healthcare

LevelJump Healthcare Corp., (TSXV: JUMP) (OTCQB: JMPHF) (FSE: 75J) is building a national medical diagnostic imaging company and brand, primarily by providing teleradiology (remote radiology) services to its client hospitals and imaging centers. Additionally, JUMP plans to expand through the acquisition of independent healthcare facilities focused on diagnostic imaging as well as acquiring new disruptive imaging technologies.

ON BEHALF OF THE BOARD OF DIRECTORS OF
LevelJump Healthcare Corp.

Mitchell Geisler, Chief Executive Officer
info@leveljumphealthcare.com
(833) 840-2020

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the Company's business plans and the outlook of the Company's industry. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws. The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, Canadian Teleradiology Services, Inc., their securities, or their respective financial or operating results (as applicable).

Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/105520

News Provided by Newsfile via QuoteMedia

Medtronic announces results showing meaningful pain relief using DTM Spinal Cord Stimulation endurance therapy

DTM™ SCS endurance therapy enables long-lasting recharge-free performance on Vanta™ and 5-minute recharge on Intellis™ neurostimulators

- Medtronic plc (NYSE: MDT), a global leader in healthcare technology, today announced three-month results from an on-label, prospective, multi-center study 1 showing meaningful pain relief using DTM™ SCS endurance therapy, a modified, lower-energy variation of the company's Differential Target Multiplexed™ (DTM) Spinal Cord Stimulation (SCS) therapy for chronic overall, back or leg pain. At 3 months, patients treated with DTM SCS endurance therapy reported meaningful pain relief as measured by a 3.9 cm reduction in overall pain on the 10 cm Visual Analog Scale (VAS) 2 . Patients also reported an average 4.3 cm decrease in back pain, and an average 5.0 cm decrease in leg pain.

Keep reading... Show less

Bausch + Lomb Corporation Files Registration Statement and Preliminary Prospectus for Proposed Initial Public Offering

- Bausch Health Companies Inc. (NYSETSX: BHC) ("Bausch Health") announced today that, in connection with its previously announced intention to separate its eye health business, its wholly owned subsidiary, Bausch + Lomb Corporation ("Bausch + Lomb"), has publicly filed a Registration Statement on Form S-1 with the U.S. Securities and Exchange Commission ("SEC") and a preliminary base post-receipt pricing procedure ("PREP") prospectus with the securities regulatory authorities in each of the provinces and territories of Canada (other than Quebec ) ("Canadian Regulators") relating to a proposed initial public offering ("IPO") of Bausch + Lomb's common shares concurrently in the United States and Canada . All of the shares being offered will be sold by a wholly owned subsidiary of Bausch Health. The number of common shares to be offered and the price range for the IPO have not yet been determined.

Morgan Stanley and Goldman Sachs & Co. LLC are acting as joint lead book-running managers for the IPO. J.P. Morgan, Citigroup, Barclays, BofA Securities, Guggenheim Securities, Jefferies, Evercore ISI, Wells Fargo Securities and Deustche Bank Securities are acting as joint book-running managers for the IPO, and DNB Markets, HSBC and Truist Securities are acting as co-managers for the IPO.

Keep reading... Show less

Medtronic announces schedule for presentations at the 2022 North American Neuromodulation Society Meeting

Sessions will include DTM™ SCS endurance therapy 3-month outcomes for patients with chronic back and leg pain

Medtronic plc (NYSE:MDT), a global leader in healthcare technology, today announced its schedule for presentations at the 25th Annual North American Neuromodulation Society meeting, taking place January 13-15, 2022 in Orlando, Florida . Medtronic therapies and technologies will be represented as part of 23 podium and poster presentations. The company will also welcome guests to booth #404 featuring an innovation suite and opportunities to learn from Medtronic scientists and engineers about the new Vanta™ recharge-free neurostimulator, as well as a new modified energy variation of Differential Target Multiplexed™ (DTM) Spinal Cord Stimulation known as DTM™ SCS endurance therapy. Medtronic will also showcase its targeted drug delivery options for patients with chronic pain.

Keep reading... Show less

Abbott Receives U.S. FDA Clearance for New Cardiac Mapping System to Improve How Doctors Treat Abnormal Heart Rhythms

- Abbott (NYSE: ABT) today announced it has received clearance from the U.S. Food and Drug Administration for the EnSite™ X EP System with EnSite Omnipolar Technology (OT), a new cardiac mapping platform available in the U.S. and across Europe that is designed to help physicians better treat abnormal heart rhythms, also known as cardiac arrhythmias. Designed with input from electrophysiologists from around the world, the system creates highly detailed three-dimensional maps of the heart to help physicians identify and then treat areas of the heart where abnormal rhythms originate.

"More patients than ever before are benefitting from ablation to treat abnormal heart rhythms, and Abbott's new EnSite X System with EnSite OT, utilizing Advisor HD Grid catheter, embodies the latest innovation available to support the treatment of complex and challenging cardiac arrhythmias," said Amin Al-Ahmad , M.D., a clinical cardiac electrophysiologist with Texas Cardiac Arrhythmia at St. David's Medical Center in Austin, Texas . "To continue improving outcomes for our patients, we need a system with speed, stability and accuracy. Abbott has provided us with a system that not only supports safe and effective treatment, but enhances the accuracy of maps, allowing for a clearer understanding of what is going on in the heart and what areas need to be targeted with ablation to treat arrythmias."

Keep reading... Show less

Pall Corporation's new Supralon Filter Element Advances Equipment Protection and Reduces Energy Costs

- Pall Corporation, a leader in filtration, separation and purification technology and a Danaher operating company, launched the new Supralon TM hydraulic and lube oil filter element range, a direct upgrade for Pall's Coralon ® Ultipor ® and Red1000 series filters. Supralon filter elements incorporate a new pack construction with filter media utilizing stress-resistant technology (SRT) and showcasing anti-static properties, which ultimately help protect and prolong the life of equipment in hydraulic and lube oil applications.

Keep reading... Show less

ACELYRIN Appoints Melanie Gloria as Chief Operating Officer

- ACELYRIN, INC., a biopharma company focused on providing patients life-changing new treatment options by identifying, acquiring, and accelerating development and commercialization of promising drug candidates, today announced the appointment of Melanie Gloria BSN, as the company's chief operating officer (COO). In this role, Ms. Gloria will oversee business operations across the company.

Keep reading... Show less

Latest Press Releases

Related News

×