Welcome to our dedicated page for Kindly MD news (Ticker: KDLY), a resource for investors and traders seeking the latest updates and insights on Kindly MD stock.
Kindly MD, Inc. (NASDAQ: KDLY) is a pioneering, patient-first healthcare and data company dedicated to holistic pain management. The company integrates traditional primary care with behavioral health services and alternative therapies to address chronic pain and reduce opioid dependency. Kindly MD offers a range of specialty outpatient clinical services on a subscription and fee-for-service basis, including chronic pain management, functional medicine, cognitive behavioral therapy, recovery support, overdose education, peer support, limited urgent care, preventative medicine, travel services, and hormone therapy.
Recent Achievements: On May 31, 2024, Kindly MD successfully priced its initial public offering, raising approximately $6.8 million in gross proceeds. The company issued 1,240,910 units at $5.50 per unit, each comprising one share of common stock and tradeable and non-tradeable warrants. These securities began trading on the Nasdaq Capital Market under the symbols KDLY and KDLYW, respectively.
Current Projects and Partnerships: Kindly MD has recently announced a strategic collaboration with Curaleaf Holdings, Inc., aimed at enhancing holistic pain management and medical cannabis education in Utah. This partnership will facilitate community care events and provide patients with access to comprehensive treatment plans, including medical cannabis, where appropriate.
Financial Condition: The funds raised from the IPO will strengthen Kindly MD's financial position, enabling further expansion of its services and enhancing its capability to offer innovative pain management solutions. The company continues to focus on sustainable growth and improving patient health outcomes.
Products and Services: Kindly MD's services include evaluation and management of chronic pain, functional medicine, cognitive behavioral therapy, and comprehensive recovery support. The company also provides medical cannabis education and recommendations as part of its holistic approach to pain management. As Utah's largest alternative pain treatment facility, Kindly MD emphasizes safe opioid use, appropriate dosing, and extensive behavioral health support to mitigate addiction risks.
Significance: Kindly MD is making significant strides in the healthcare industry by providing integrated pain management solutions and reducing opioid use. Its innovative approach and strategic partnerships position it as a leader in holistic healthcare, offering patients sustainable and safer treatment alternatives.
KindlyMD (NASDAQ: KDLY) reported Q3 2024 financial results with insurance reimbursements of $106,567, up 16.4% sequentially. Revenue decreased 25.5% to $647,867, primarily due to shifting from cash-pay to insurance billing. The company achieved over 90% insurance coverage in Utah and introduced a $500,000 share repurchase program. Operating expenses increased 22.9% to $1,697,685, leading to a net loss of $1,014,147 ($0.17 per share). The company generated first-time service affiliate agreement earnings of $22,432 and maintained $3.6M in cash reserves.
KindlyMD (NASDAQ: KDLY) announced a new partnership with Cigna Healthcare, expanding its insurance coverage to over 90% of Utah's population. The company has secured contracts with major providers including Select Health, Medicare, Medicaid, Blue Cross Blue Shield, and United Healthcare. As Utah's largest alternative pain treatment provider, KindlyMD has treated over 65,000 patient visits, focusing on integrating traditional primary care with behavioral and alternative therapies. The company aims to address the opioid crisis by providing alternative pain treatments, including medical cannabis evaluations, while ensuring safe opioid use when necessary through comprehensive care plans.
KindlyMD (NASDAQ:KDLY), a patient-first healthcare and healthcare data company, has announced a $500,000 share repurchase program. The program, authorized by the Board of Directors, allows the company to repurchase its common shares from time to time, based on market conditions. CEO Tim Pickett stated that this move demonstrates confidence in KindlyMD's current valuation and future growth opportunity, as well as a commitment to enhancing shareholder value.
The repurchases may be made in the open market, through private negotiations, or other means in compliance with securities laws. The program has no time limit and does not obligate the company to repurchase any specific amount of shares. The timing and amount of repurchases will be determined by management based on various factors, including market conditions and regulatory requirements.
KindlyMD (NASDAQ:KDLY) has announced a contract with UnitedHealthcare Insurance Company, the largest health insurer in the United States. This agreement, effective November 1, 2024, will allow KindlyMD to serve UnitedHealthcare-insured patients and receive reimbursement for services. The contract expands KindlyMD's coverage and enables access to referrals from additional major hospitals and medical systems in Utah.
Tim Pickett, KindlyMD's founder and CEO, described this as a critical milestone for the company. With agreements now in place with Blue Cross Blue Shield, Medicare, Select Health, Medicaid, and UnitedHealthcare, KindlyMD can treat a larger patient population more frequently. The expanded insurance coverage is expected to lower patients' out-of-pocket expenses and drive revenue growth in core service lines.
KindlyMD (NASDAQ: KDLY), a healthcare company integrating traditional primary care with pain management and alternative therapies, has announced its participation in two upcoming investor conferences in October 2024. CEO Tim Pickett will represent the company at both events:
1. Benzinga Cannabis Capital Conference (October 8-9, Chicago):
- Panel: The Medical Cannabis Experience: Best Practices For Patient Access, Care And Loyalty
- Date/Time: October 9th at 12:50 p.m. MT
2. LD Micro Main Event XVII (October 28-30, Los Angeles):
- Presentation: October 29th at 12:30 p.m. MT, Track 4
Webcasts for both events will be available on the KindlyMD investor relations website. Investors interested in one-on-one meetings with Mr. Pickett can contact Benzinga, LD Micro representatives, or email KCSA Strategic Communications.
KindlyMD (NASDAQ:KDLY), a patient-first healthcare and healthcare data company, has been recognized with the Healthcare AI Impact Award 2024. The award highlights companies driving improvements in patient care and operational efficiency through AI. KindlyMD was selected from over 400 submissions for its innovative work in leveraging patient data for diagnostics, particularly in exploring the effective use of cannabis in medical treatment.
The company is utilizing machine learning to trace patterns and create models that enhance their care model and improve patient outcomes. Tim Pickett, KindlyMD's founder and CEO, emphasized their commitment to pushing AI boundaries in healthcare to personalize alternative treatments to opioids and help patients make more informed therapeutic decisions.
KindlyMD (NASDAQ:KDLY) has appointed Dr. Jeremy Joyal as Medical Director. Dr. Joyal, a licensed physician with board certifications in Anesthesiology, Pain Medicine, and Addiction Medicine, will oversee the company's clinical practices and develop program protocols for pain management. His responsibilities include ensuring adherence to current standards, implementing advanced pain management programs, and collaborating with healthcare providers to ensure comprehensive patient care across KindlyMD's platform.
Dr. Joyal's expertise is expected to enhance KindlyMD's clinical operations and patient care. He graduated from Brigham Young University with a degree in Neuroscience and earned his MD from the Medical College of Wisconsin. Dr. Joyal specialized in Anesthesiology at Washington University in St. Louis and completed a Pain Medicine fellowship at the University of Utah in 2014.
KindlyMD (NASDAQ: KDLY), a healthcare company integrating traditional primary care with pain management and alternative therapies, announces CEO Tim Pickett's participation in H.C. Wainwright's 26th Annual Global Investment Conference. The event will take place from September 9-11, 2024, at the Lotte New York Palace Hotel.
Key points:
- Pickett will present virtually and engage in one-on-one investor meetings
- The presentation will be available on-demand from 7:00 a.m. ET
- Investors can schedule meetings through H.C. Wainwright representatives or KCSA Strategic Communications
- A replay of the presentation will be accessible for at least 90 days on KindlyMD's investor website
This conference provides KindlyMD an opportunity to showcase its unique approach to healthcare and connect with potential investors.
KindlyMD (NASDAQ:KDLY) has appointed Nancy Pratt as Behavioral Health Program Director to enhance its Complete Care and Therapy services. Pratt, a clinical mental health counselor (CMHC) with over 10 years of experience, specializes in suicide assessment and treatment for anxiety, depression, and trauma. She holds a Master of Science in Clinical Mental Health Counseling from Westminster College and has a background in creating programs for at-risk youth.
CEO Tim Pickett emphasized that Pratt's expertise will be instrumental in designing and implementing the Complete Care program, which is central to KindlyMD's mission of delivering targeted, holistic healthcare. This appointment aligns with the company's strategy to integrate traditional primary care and pain management with behavioral and alternative therapies.
KindlyMD (NASDAQ:KDLY) announced its Q2 2024 financial results and provided a shareholder update. Key highlights include:
1. Nearly 80% statewide comprehensive insurance coverage in Utah under contract with providers like Medicare, Select Health, Medicaid, and Blue Cross Blue Shield.
2. 163.7% sequential increase in reimbursement from insurance payors, totaling $126,325 in H1 2024 compared to $0 in H1 2023.
3. Completed IPO in June 2024 for net proceeds of $6.02 million.
4. Q2 2024 revenues decreased by 34.8% to $639,057, primarily due to a shift towards insurance billing.
5. Operating expenses increased by 6.0% to $1,676,250 in Q2 2024.
6. Net loss per share increased to $(0.26) in Q2 2024 from $(0.13) in Q2 2023.
7. As of June 30, 2024, cash and cash equivalents stood at $4.74 million with total working capital of $4.11 million.
FAQ
What is the current stock price of Kindly MD (KDLY)?
What is the market cap of Kindly MD (KDLY)?
What does Kindly MD, Inc. do?
What services does Kindly MD offer?
When did Kindly MD go public?
What is the stock symbol for Kindly MD?
What recent partnerships has Kindly MD announced?
How does Kindly MD integrate alternative therapies?
What are the financial benefits of the recent IPO?
Where can I find more information about Kindly MD's offerings?
What is Kindly MD's approach to opioid use?
Who is Kindly MD's partner in the recent collaboration?
