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.
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View original content: https://www.newswire.ca/en/releases/archive/April2021/16/c4911.html 