Jack Nathan’s Long Term Care Technology, Writi, Signs up 15 New LTCs With Over 1650 Resident Beds

Rhea-AI Summary

Jack Nathan Medical Corp. (TSXV: JNH, OTCQB: JNHMF) announced that its subsidiary, Writi Inc., secured software installations for 15 new Long-Term Care (LTC) homes, covering over 1,650 beds. This expansion will double Writi's LTC footprint to 30 homes and over 3,200 beds in Ontario, increasing recurring revenue. The update includes enhancements in communication and documentation, reducing administrative burden by improving operational efficiency by 20% and 43%, respectively. This initiative addresses the pressing demand in Canada’s healthcare system, as the senior population is projected to grow significantly.

Positive

• Secured software installations for 15 new LTC homes, increasing total to 30 homes and 3,200 beds.
• Enhancements in Writi v2.0 improve operational efficiency: 20% reduction in prescribing time, 43% in nursing order-processing time.
• Expansion of Writi platform increases recurring revenue potential.

Negative

• None.

Jack Nathan Medical Corp. (TSXV: JNH, OTCQB: JNHMF) (“Jack Nathan Health” “JNH'' or the “Company”) announced that its wholly-owned subsidiary, Writi Inc. (“Writi”), has secured the software installation for 15 new Long-Term Care (LTC) homes, representing over 1650 beds. This integration, when complete, will double the number of LTCs using the Writi platform and increase its recurring revenue install base to a total of 30 LTCs and over 3200 beds in Ontario.

These new integrations will be driven by Writi v2.0 which delivers enhancements to speed and efficiency, across all modules, secure group conferencing video calling between Healthcare entities and a new and improved mobile app.

“These new integrations and expanding footprint are a reflection of the value that Writi’s Virtual Healthcare platform brings to LTCs in terms of improved communication and documentation,” said Chief Executive Officer of Jack Nathan Health, George Barakat. “With Writi, we will continue to leverage JNH’s clinical expertise and parlay our technology roadmap with Writi’s superior LTC solutions to drive new opportunities and create recurring and sustainable revenue growth.”

Writi’s SaaS-based Virtual Healthcare platform facilitates secure communication and documentation of resident care for LTCs and is available on both desktop and mobile devices. The cloud-based medication management software platform supports the secure digital communication, record maintenance and workflow of resident-related orders and documentation. The platform includes telehealth, e-prescribe, e-billing, electronic order-processing, patient charting and integrates with Electronic Medical Records (“EMRs”). Writi’s Virtual Healthcare platform is integrated with PointClickCare, Telus Health (Kroll™ Pharmacy Management Solution) and MED e-care.

With Writi’s Virtual Healthcare platform, information flows seamlessly into a patient’s health record and is securely accessible by local and remote healthcare partners; it reduces prescribing time by 20% and nursing order-processing time by 43%, drastically reducing the administrative burden on practitioners and allowing more patient care time.

Canada’s LTC system is strained by overcrowding and limited resources. Today, people over 65 make up 17% of the Canadian population and 44% of healthcare costs. There are over 700 LTC homes and over 1,000 senior care homes in Ontario alone. By 2036 a quarter of Canadians will be over 65 putting additional pressure on the entire Canadian healthcare system.⁽¹⁾

To learn more about Writi, please visit writi.ca or watch a short video on the Writi Solution.

⁽¹⁾ https://www150.statcan.gc.ca/n1/pub/11-402-x/2012000/chap/seniors-aines/seniors-aines-eng.htm

About Jack Nathan Medical Corp.

Jack Nathan Medical Corp., operating as Jack Nathan Health^®, is one of Canada’s largest healthcare networks. Jack Nathan Health® is an innovative healthcare company that is improving access for millions of patients by co-locating physician and ancillary medical services conveniently located inside Walmart^® stores.

Jack Nathan Health® provides an exceptional level of patient care, made possible through patient-centric physicians, a variety of medical services, technology, and programs, designed to put patients first. Our mission is to provide everyone access to the finest quality retail medical centres, with both in-clinic physicians and digital telemedicine, so you and your loved ones can “Live Your Best Life”.

Jack Nathan Health® was established in 2006 and continues to expand its international footprint, delivering exceptional, state-of-the-art, turn-key medical centres in 76 Walmart locations across Canada including British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, and Quebec, as well as 18 locations operating in Mexico and 50 new locations opening in 2021.

For more information, visit www.jacknathanhealth.com or www.sedar.com.

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

Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions as they relate to Jack Nathan are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information. Such statements reflect the Company's current views and intentions with respect to future events, and current information available to them, and are subject to certain risks, uncertainties, and assumptions Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. Such factors include but are not limited to: changes in economic conditions or financial markets; increases in costs; litigation; legislative and other judicial, regulatory, political and competitive developments; the economic and business impact of COVID-19 and operational difficulties. This list is not exhaustive of the factors that may affect forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking information. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.

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FAQ

What is the recent announcement by Jack Nathan Medical Corp. regarding Writi?

Jack Nathan Medical Corp. announced that its subsidiary, Writi Inc., has secured software installations in 15 new Long-Term Care homes, doubling its footprint to 30 homes.

How many beds does Writi now serve after the latest expansion?

With the recent expansion, Writi now serves over 3,200 beds across Long-Term Care homes in Ontario.

What are the efficiency improvements reported by Writi's new platform?

Writi v2.0 enhances efficiency by reducing prescribing time by 20% and nursing order-processing time by 43%.

How does the recent integration affect Jack Nathan Medical Corp.'s revenue?

The integration of additional LTC homes is expected to increase the recurring revenue base for Jack Nathan Medical Corp.

What is the market context for Jack Nathan Medical Corp.'s recent announcement?

The announcement addresses the growing pressure on Canada's healthcare system as the senior population is projected to significantly increase in the coming years.