Healthlynked - HLYK STOCK NEWS

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).

HealthLynked Corp. (HLYK) reported a 3% revenue increase to $1.65 million in Q2 2022 compared to Q1 2022, but a 67% decrease in net losses for the first half of 2022 ($2.76 million) compared to the same period in 2021 ($8.33 million). Q2 2022 revenues fell slightly from $1.71 million YoY, attributed to physician turnover. The company acquired Aesthetics Enhancements Unlimited, leading to a 15% patient revenue increase in Functional Medicine. Shareholders' equity stood at $4.80 million as of June 30, 2022.

HealthLynked Corp. (OTCQB: HLYK) has welcomed Paul J. Norman to its advisory board. Norman, a former CEO and founder of NU Holdings Inc., brings extensive experience from the insurance sector, having been instrumental in establishing a network of over 3,000 independent agents. His induction into the Insurance Hall of Fame underscores his industry credibility. HealthLynked aims to enhance healthcare management through a cloud-based platform, connecting patients and providers efficiently. This addition to the advisory board is expected to bolster the company’s strategic direction in healthcare technology.

HealthLynked Corp. (OTCQB:HLYK) reported a 98% increase in Q3 2021 revenue, reaching $4.0 million compared to $2.0 million in Q3 2020. Patient appointments rose 24% to 4,181, while Time of Service collections grew 33% to $1.0 million. The company also received $2.4 million in Medicare Shared Savings revenue, a 213% increase year-over-year. Year-to-date revenue increased 66% to $7.5 million. Executives expressed optimism about ongoing growth and improvements in the financial performance.

HealthLynked Corp. (OTCQB:HLYK) announced that its subsidiary, ACO Health Partners LLC, will receive $2.4 million in Medicare Shared Savings from the Centers for Medicare & Medicaid Services (CMS). This amount marks a 213% increase from the $768,000 received last year. Since acquiring ACO Health Partners in May 2020, HealthLynked has reported substantial growth in shared savings and the number of attributed Medicare lives.

HealthLynked Corp. (OTCQB: HLYK) announced the launch of its new podcast channel across iTunes, Google, and Spotify on September 17, 2020. The initiative aims to enhance online medical education for patients and healthcare providers, responding to the surging popularity of podcasts. CEO Dr. Michael Dent emphasized the commitment to provide valuable audio content alongside existing video resources. The podcast will feature healthcare topics to engage a wide audience, contributing to HealthLynked's mission of improving healthcare through better information exchange.

HealthLynked Corp. (OTCQB: HLYK) has announced the completion of its data integration with athenahealth, enabling patients to easily access their medical records. This integration utilizes athenahealth's API, allowing patients to request their health data and verify their identity through HealthLynked's practice portal. With access to critical health information such as medications and lab results, this partnership aims to improve patient care and reduce delays in treatment. Patients will incur a small fee for each record request, while practices can onboard swiftly through athenahealth's marketplace.