Novo Integrated Sciences’ Subsidiary, Clinical Consultants International, Signs Consulting Services Agreement with Information Technology Company, Softhread

Rhea-AI Summary

Novo Integrated Sciences (NASDAQ: NVOS) has entered a Consulting Services Agreement with Softhread, Inc., aimed at enhancing healthcare delivery through advanced IT solutions in the emerging Health Care 4.0 ecosystem. The agreement, which includes revenue-sharing potential, leverages Softhread's blockchain and AI-enabled platform to improve operational efficiency and security while addressing cybersecurity challenges in healthcare. Novo's CEO praised the collaboration, highlighting its significance in managing sensitive health information. This partnership aims to integrate innovative technologies into Novo's offerings, enhancing patient care and outcomes.

Positive

• Partnership with Softhread could lead to enhanced operational efficiency and security in healthcare delivery.
• Agreement includes revenue-sharing potential, indicating possible future revenue streams.
• Integration of advanced technologies into Novo's services may improve patient care and outcomes.

Negative

• None.

Through the agreement, CCI will support Softhread’s entrance into the rapidly evolving Health Care 4.0 ecosystem for health care delivery

BELLEVUE, Wash.--(BUSINESS WIRE)-- Novo Integrated Sciences, Inc. (NASDAQ: NVOS) (the “Company” or “Novo”), and Clinical Consultants International (‘CCI’), a Novo wholly-owned subsidiary, today announced the signing of a Consulting Services Agreement (the “Agreement”), which includes revenue-sharing potential, with Softhread, Inc., an information technology company which offers a proprietary, patent-pending blockchain and AI-enabled platform that preserves confidentiality and optimizes network security, while enhancing operational efficiency. The Agreement relates to Softhread’s product and service offering applicable to the global medical communities rapidly evolving change into the new era of smart and connected health care delivery, referred to as Health Care 4.0.

Robert Mattacchione, Novo’s CEO and Board Chairman, commented, “Dr. Chalil and the CCI team continue to provide Novo with invaluable medical community relationships in the U.S. and globally. As the healthcare industry adopts the foundational change of smart and connected health care delivery, cybersecurity, artificial intelligence, and blockchain architecture are all critical components of radically improving the privacy, security, and speed of data management in networks. This Agreement offers CCI’s team of highly respected, proven leaders in the medical community, led by Dr. Chalil, and Softhread’s award-winning, renowned technologists and business executives, to work together introducing the Softhread platform to the medical community worldwide.”

Dr. Joseph M. Chalil, MD, MBA, FACHE, Chief Medical Officer of Novo, stated, “We are pleased to partner with Softhread as it rapidly evolves into the Health Care 4.0 ecosystem. Softhread’s proven cybersecurity, AI and blockchain engineering powers zero-trust solutions, enhancing any existing cyber-defense systems. Together, we are also exploring the integration of Softhread’s technology into Novo Connect, Novo’s proprietary mobile application, to further enhance a secure and reliable consumer experience.”

Softhread brings a new level of security to the rapidly evolving Health Care 4.0 ecosystem, that includes virtual, remote, mobile, and smart health delivery systems. Today’s healthcare environment demands increasing levels of multi-party, multi-site, and multi-device cooperation to diagnose, treat, and monitor healthcare delivery at all stages, from prevention, to treatment, to management and monitoring. However, the exponential growth of interconnected IT, the Internet of Things, such as medical devices, sensors and wearables designed to improve patient care and outcomes also increases cyber-vulnerabilities. This mandates a novel zero-trust architecture to prevent and mitigate cyberattacks on all the connected devices in a typical hospital ecosystem across nursing stations, patient rooms, operating rooms, laboratories and pharmacies, imaging centers, etc., most of which manage sensitive personal health information (PHI).

Softhread brings a modular blockchain architecture for the veracity and security of information exchanges among all IoT-connected Health Care 4.0 stakeholders. It leverages encryption and agreement among multiple servers to ensure the validity and access for devices and users across distributed data sets, on premise and/or in the cloud, with speed and verifiable audit transparency. Softhread supports the integration of smart contracting to regularize and ensure that process workflows are not only complete but adhere simultaneously to a wide variety of policy constraints.

About Clinical Consultants International LLC

Established in 2006 in Michigan as a hospital consulting firm, today Clinical Consultations International is a global consulting firm specializing in providing value-added services for the pharmaceutical, biotech, healthcare management, hospital management, medical marketing and strategic planning, health policy, and medical device sectors. Headquartered in Boca Raton, Florida, we leverage 30+ years of industry experience and our expert consultants worldwide to support our clients. For more information on CCI, please visit www.ccimia.com.

About Softhread, Inc.

Softhread is an information technology company that is proud to introduce Chios™ - a blockchain and AI-enabled platform that preserves confidentiality and optimizes network security, while enhancing operational efficiency. Through its decentralized system that empowers state-of-the-art interoperability, Softhread builds scalable enterprise solutions that are highly customizable, industry-agnostic and optimize the ROI of data management. For more information please visit www.softhread.com.

About Novo Integrated Sciences, Inc.

Novo Integrated Sciences, Inc. is pioneering a holistic approach to patient-first health and wellness through a multidisciplinary healthcare ecosystem of multiple patient and consumer touchpoints for services and product innovation. Novo offers an essential and differentiated solution to deliver, or intend to deliver, these services and products through the integration of medical technology, diagnostic and therapeutic solutions, and rehabilitative science.

We believe that “decentralizing” healthcare, through the integration of medical technology and interconnectivity, is an essential solution to the rapidly evolving fundamental transformation of how non-catastrophic healthcare is delivered both now and in the future. Specific to non-critical care, ongoing advancements in both medical technology and inter-connectivity are allowing for a shift of the patient/practitioner relationship to the patient’s home and away from on-site visits to primary medical centers with mass-services. This acceleration of “ease-of-access” in the patient/practitioner interaction for non-critical care diagnosis and subsequent treatment minimizes the degradation of non-critical health conditions to critical conditions as well as allowing for more cost-effective healthcare distribution.

The Company’s decentralized healthcare business model is centered on three primary pillars to best support the transformation of non-catastrophic healthcare delivery to patients and consumers:

• First Pillar: Service Networks. Deliver multidisciplinary primary care services through (i) an affiliate network of clinic facilities, (ii) small and micro footprint sized clinic facilities primarily located within the footprint of box-store commercial enterprises, (iii) clinic facilities operated through a franchise relationship with the Company, and (iv) corporate operated clinic facilities.
• Second Pillar: Technology. Develop, deploy, and integrate sophisticated interconnected technology, interfacing the patient to the healthcare practitioner thus expanding the reach and availability of the Company’s services, beyond the traditional clinic location, to geographic areas not readily providing advanced, peripheral based healthcare services, including the patient’s home.
• Third Pillar: Products. Develop and distribute effective, personalized health and wellness product solutions allowing for the customization of patient preventative care remedies and ultimately a healthier population. The Company’s science-first approach to product innovation further emphasizes our mandate to create and provide over-the-counter preventative and maintenance care solutions.

Innovation through science combined with the integration of sophisticated, secure technology assures Novo Integrated Sciences of continued cutting-edge advancement in patient first platforms.

For more information concerning Novo Integrated Sciences, please visit www.novointegrated.com . For more information on Novo Healthnet Limited, Novo’s wholly owned subsidiary, please visit www.novohealthnet.com

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Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as "believe," “intend,” "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors, risks, and uncertainties are discussed in Novo’s filings with the Securities and Exchange Commission. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond Novo’s control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects Novo’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Novo assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The contents of any website referenced in this press release are not incorporated by reference herein.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221012005316/en/

Chris David, COO & President

Novo Integrated Sciences, Inc.

chris.david@novointegrated.com

(888) 512-1195

Source: Novo Integrated Sciences, Inc.

FAQ

What is the recent agreement between Novo Integrated Sciences and Softhread?

Novo Integrated Sciences signed a Consulting Services Agreement with Softhread to enhance healthcare delivery through advanced IT solutions.

How does the agreement with Softhread impact NVOS's business?

The agreement may lead to revenue-sharing and improved operational efficiency, potentially enhancing patient care.

What technologies are being integrated into Novo's services through the Softhread partnership?

The partnership focuses on incorporating blockchain and AI technologies to improve security and efficiency in healthcare.

What is Health Care 4.0?

Health Care 4.0 refers to the evolving ecosystem of smart and connected healthcare delivery systems.

What are the benefits of the consulting services agreement for NVOS?

The benefits include potential revenue growth and the enhancement of patient care through innovative technology integration.