Medivolve Signs Agreement to Acquire Industry-Leading Electronic Health Platform as Next Step in Transforming Human Health Management Across the United States

Rhea-AI Summary

Medivolve Inc. (OTC:COPRF) announced the acquisition of a 100% interest in an Electronic Health Record application from Myosin for 20 million common shares. This platform aims to enhance patient care and streamline clinical processes through a cloud-based system, allowing for improved collaboration among healthcare providers. CEO David Preiner highlighted the transition from being primarily a COVID-19 testing company to a broader health technology firm. The acquisition is subject to customary closing conditions and does not involve finder fees or a change of control.

Positive

• Acquisition enhances Medivolve's health technology capabilities.
• Improves patient care and clinical collaboration through a cloud-based system.
• Streamlines current testing services, potentially reducing operating costs.

Negative

• None.

New platform supports Medivolve’s position as a growing health technology and services company

TORONTO, May 06, 2021 (GLOBE NEWSWIRE) -- Medivolve Inc. (“Medivolve”) (NEO:MEDV; OTC:COPRF; FRA:4NC) a healthcare company that seeks out disruptive technologies, ground-breaking innovations and exclusive partnerships to transform human health management, today announced that it has signed an agreement to acquire a 100% interest in the Electronic Health Record application and all associated intellectual property and technology (the “App”) from Myosin.  

The electronic health record platform is designed to improve patient care and increase collaboration with clinicians through an efficient, cloud-based system. The app streamlines patient intake forms and delivers medical reports through personalized patient portals. Clinical staff members are empowered with a platform to consolidate provider and staff responsibilities to organize patient information before, during, and after interactions. The cloud-based infrastructure eliminates the need for software downloads and specialized hardware, making it easily deployable. Clinical workflows are streamlined in the company’s system to minimize the time required to submit orders, share results, and access reports.

“The integration of this incredible platform is a major step forward in Medivolve’s evolution from a COVID-19 testing company to a health technology and services company that aims to disrupt the American healthcare system for the long-term,” said David Preiner, CEO, Medivolve. “We intend on utilizing this platform to streamline our current testing services, offering an improved customer experience while reducing our operating costs. The implications of this platform extend far beyond COVID-19, and we will work to learn from, and expand on its benefits to provide personalized and effective health services to patients across a variety of use-cases.”

About the Transaction

Medivolve will acquire a 100% interest in the App from Myosin for consideration of twenty (20) million common shares of Medivolve. The completion of the transaction to acquire the App is subject to customary closing conditions, including due diligence to the satisfaction of Medivolve and the entering into of definitive agreements. No finder fees are payable in connection with, and no change of control of Medivolve will result from, the transaction.  

About Medivolve Inc.
Medivolve Inc. (NEO:MEDV; OTC:COPRF; FRA:4NC) focuses on commercializing technologies to help combat the COVID-19 pandemic. This includes providing convenient and accessible medical services for testing, prevention and treatment. Medivolve is comprised of a team of renowned global medical and business advisors who are committed to helping fulfill Medivolve’s mission of searching for and investing in breakthrough sciences, technologies, research or resolutions to empower the betterment of mankind. This panel includes prominent Stanford neurologist and immunologist Dr. Lawrence Steinman as well as Dr. Glenn Copeland, one of North America’s most prominent orthopedic treatment and sports medicine specialists. Through its braintrust of industry specialists, thought leaders, influencers, and opinion makers, Medivolve has also developed a proprietary strategy to capitalize on high-margin opportunities across three areas: the prevention, detection, and treatment of COVID-19.

For investing inquiries, please contact: 
info@medivolve.ca  
  
For U.S. media inquiries, please contact: 
Sophia Powe 
sophia@therelentlesscollective.com 

Cautionary Note Regarding Forward-looking Information
  
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the acquisition of the health platform app; the benefits and opportunities related to the health platform app; the pursuit by Medivolve of opportunities; and the merits or potential returns of any such opportunities. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or 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 is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
  
NEITHER THE NEO EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. 

FAQ

What does Medivolve's acquisition of the Electronic Health Record application entail?

Medivolve is acquiring a 100% interest in the Electronic Health Record application from Myosin for 20 million common shares, aimed at enhancing patient care and streamlining clinical processes.

When was the acquisition of the Electronic Health Record application announced?

The acquisition was announced on May 6, 2021.

How will the new app impact Medivolve's business?

The app is expected to facilitate the transition from a COVID-19 testing firm to a broader health technology company, improving services and reducing operational costs.

What are the conditions for the completion of the acquisition?

The acquisition is subject to customary closing conditions, including due diligence and the entering into of definitive agreements.

What is the significance of this acquisition for Medivolve's future?

This acquisition positions Medivolve to disrupt the American healthcare system by offering personalized and effective health services beyond COVID-19.