HEALTHLYNKED CORP - HLYK STOCK NEWS

HealthLynked Corp. (OTCQB: HLYK) reported its financial results for the year and fourth quarter ending December 31, 2022. Revenue fell by 10% to $5.86 million compared to $6.50 million in 2021, primarily due to decreased patient service revenues. An impairment charge of $2.75 million was taken for intangible assets linked to MedOfficeDirect, which has faced declining revenues. However, the company anticipates revenue growth in 2023 from recent initiatives and acquired practices. Net losses decreased to $8.82 million in 2022 from $10.41 million in 2021. The company sold its ACO/MSO business in January 2023 and expects additional payments from this transaction by July 2023.

HealthLynked Corp. announced the granting of Patent No. 11,600,395 by the USPTO for its innovative technology enabling secure patient access via healthcare service provider-specific wireless access points. This patent allows secure communication between patients, providers, and third-party services, enhancing data security and streamlining interactions. CEO Michael Dent emphasized the significance of this milestone in advancing patient-centric solutions in healthcare. The patent positions HealthLynked favorably in the digital healthcare market, offering a competitive edge and facilitating the development of more efficient healthcare services.

HealthLynked (OTCQB: HLYK) announced the appointment of Paul J. Hobaica, MD, to its Board of Directors, succeeding Robert P. Mino, JD, MBA, MS. Dr. Hobaica brings over 25 years of medical experience and serves as Corporate Medical Director at Arthrex Medical Center. His expertise in internal and occupational medicine is expected to enhance HealthLynked's strategic direction, particularly in developing partnerships and services aimed at improving healthcare outcomes. CEO Michael Dent expressed confidence that Dr. Hobaica's leadership will support the company's mission to leverage technology for better healthcare.

HealthLynked, a prominent digital healthcare solutions provider, has unveiled its new Online Concierge service, enhancing the patient experience for booking physician appointments. This service allows patients to schedule appointments with over 880,000 healthcare providers nationwide through the HealthLynked Network. Patients can select specific times for their appointments, with support from HealthLynked's concierge team for unclaimed listings. A free 30-day trial is available, after which membership plans start at $10/month. The service prioritizes patient privacy, ensuring no healthcare information is shared with third parties.

HealthLynked (HLYK) announced a definitive agreement to sell its ACO Health Partners subsidiary to PBACO Holding, LLC. The deal includes an initial cash payment of $750,000 and potential incremental cash up to $2.25 million based on patient transfers. HealthLynked may receive up to $7 million in IPO shares if PBACO completes an IPO by August 1, 2024. The transfer of operations to PBACO began on January 17, 2023, with the expectation of total consideration tied to AHP's performance metrics. If PBACO does not go public by the specified date, total compensation is capped at $3 million. The strategic move aims to enhance patient care efficiency.

Medofficedirect, a subsidiary of HealthLynked Corp. (OTC: HLYK), has partnered with Synchrony (NYSE: SYF) to offer the CareCredit credit card, allowing customers to finance their purchases of discounted home medical equipment and supplies. This partnership enables Medofficedirect to provide flexible financing options, enhancing accessibility for individual and medical practice customers. With the online medical supplies market growing at 14.9% annually, this move positions Medofficedirect favorably in a $17.9 billion industry.

HealthLynked Corp. (HLYK) launched a Concierge membership program for Functional Medicine, expecting to generate over $1 million annually. Despite strong patient adoption, the company reported a third-quarter revenue of $1.45 million, down from $4.00 million in Q3 2021, mainly due to losses in its ACO division's Medicare program and service disruptions from Hurricane Ian. Net losses increased to ($1.78 million) compared to ($0.37 million) last year. Year-to-date revenues also declined to $4.70 million from $7.54 million in 2021, with net losses of ($4.54 million).