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Novo Integrated Sciences, Inc. (Symbol: NVOS) is a key player in the primary healthcare services sector, offering a comprehensive range of services designed to cater to diverse patient needs. The company, along with its subsidiaries, has built a robust portfolio that includes physiotherapy, chiropractic care, manual/manipulative therapy, occupational therapy, eldercare, massage therapy, acupuncture, and functional dry needling.
Additional services offered by Novo Integrated Sciences encompass chiropody, stroke and traumatic brain injury/neurological rehabilitation, kinesiology, vestibular therapy, concussion management and baseline testing, trauma-sensitive yoga and meditation for concussion-acquired brain injury and occupational stress-PTSD, women's pelvic health programs, and sports medicine therapy. Moreover, the company provides assistive devices, dietitian and holistic nutrition services, fall prevention education, sports team conditioning programs, and private personal training services.
The company is also involved in the assessment, diagnosis, treatment, pain management, rehabilitation, education, and prevention of various orthopedic, musculoskeletal, sports injury, and neurological conditions. This positions Novo Integrated Sciences as a holistic healthcare provider, dedicated to improving patient outcomes through a variety of therapeutic and rehabilitative services.
Among its recent achievements, Novo Integrated Sciences has been recognized for its commitment to patient care and the integration of advanced therapeutic techniques. The company's two primary segments—healthcare services and product sales—reflect its diversified approach, with healthcare services generating the majority of its revenue.
As an evolving entity, Novo Integrated Sciences continues to explore new partnerships and innovative treatment programs aimed at enhancing its service offerings. This forward-thinking approach ensures that the company remains at the forefront of the healthcare industry, providing valuable and effective solutions for a wide range of medical conditions.
Novo Integrated Sciences, Inc. (NASDAQ: NVOS) reported a 26% revenue increase for the fiscal year ended August 31, 2022, totaling $11.74 million, up from $9.31 million in 2021. The rise in revenue was attributed to higher product sales, despite a $9.4 million adjustment in the third quarter due to the inconsistent nature of outsourced product sales. However, the company faced a significant net loss of $32.85 million, a 636% increase from the previous year, driven by higher impairment and overhead costs. To enhance cash flow, Novo aims to raise capital through non-dilutive methods. Key operational milestones included acquisitions and advancements in telehealth services.
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