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Revitalist Provides Summary of 2021, Reporting Patient Visits of 5,000, a 128% Increase From 2020
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
Revitalist Lifestyle and Wellness Ltd. (CSE: CALM, OTC: RVLWF) significantly expanded its operations in 2021, increasing patient treatments by 128% to approximately 5,000. The company reported sales of around $2.2 million, a 110% rise from the previous year. By year-end, it grew to seven clinics across four states, planning further expansions. Notably, it secured Medicare coverage and raised over $11 million in capital. Revitalist also ventured into the metaverse with a 60% stake in Revitaland Meta Tech Inc. CEO Kathryn Walker celebrated the company's achievements, including her recognition as Entrepreneur of the Year.
Positive
Patient treatments increased by 128% year over year to approximately 5,000.
Sales reached around $2.2 million, marking a 110% increase from 2020.
Expanded from 1 to 7 clinics across 4 states, with plans for further expansion.
Successfully raised over $11 million in capital during the year.
Secured patient coverage with Medicare and other insurance providers.
Negative
None.
VANCOUVER, British Columbia--(BUSINESS WIRE)--
REVITALIST LIFESTYLE AND WELLNESS LTD. (“Revitalist” or the “Company”) (CSE: CALM) (OTC: RVLWF) (FSE: 4DO) is pleased to recap the milestones the Company reached in the calendar year 2021. The Company has significantly scaled its operations during 2021, ending the year with seven clinics and providing approximately 5,000 patient treatments which represented a 128% increase year over year.
(Graphic: Business Wire)
Noteworthy events for Revitalist in 2021 are summarized below under the respective headings. Please note that as a summary, this is not a comprehensive listing of the Company’s material events during each stated period. Complete disclosures of material events can be found on the Company’s SEDAR profile.
Patient Visits and Sales
Patient visits grew extensively in 2021, totaling approximately 5,000, up 128% from 2020. Sales for the year ended December 31, 2021, totaled approximately $2,200,000 (unaudited), representing a 110% increase year over year. Monthly visits are listed in the chart above.
Expansion
Revitalist commenced the year with one clinic under operation and ended with seven clinics across four states in the USA. January 2022 announcements included the opening of an additional clinic in Washington, D.C and the acquisition of clinic assets in Jacksonville, FL bringing the current total to nine clinics in 6 states. In addition, the Company executed agreements during 2021 securing options to open nine additional clinics in the USA for a period of three years. The Company also proudly announced patient coverage with Medicare and other insurance providers during the year as well as multiple strategic collaborations including US Veterans Affairs and clinical study partners.
Revitaland
Revitalist acquired a 60% interest in Revitaland Meta Tech Inc. to expand virtual clinics in the metaverse (“Revitaland”). Revitaland virtual clinics will allow patients to work with clinicians who aren’t in the same physical space in real time.
The Metaverse is an expansive network of 3D worlds and simulations that support continuity of identity, objects, history, payments, and entitlements, and can be experienced synchronously by an effectively unlimited number of users, each with an individual sense of presence.
Awards & Publications
Revitalist CEO Kathryn Walker received Microdose’s “Entrepreneur of the Year” award in November 2021 at Wonderland: Miami, the largest psychedelic medicine business event.
Clarus securities published coverage on the Company on October 25, 2021, with a speculative buy rating and a target of $1.50 per share. Revitalist was also featured by Forbes in an article highlighting the Company’s holistic approach to ketamine treatments and the vision of its founder, Kathryn Walker.
Equity Financing
Revitalist successfully raised over $11,000,000 in 2021, with it’s last $3,000,000 financing closing in November 2021 whereby H.C. Wainwright & Co. acted as the exclusive placement agent.
Capital Markets
On August 24, 2021, the Company commenced trading on the Canadian Securities Exchange under the symbol CALM. Shortly thereafter, Revitalist listed on the Frankfurt Stock Exchange and the OTCQB.
Revitalist CEO, Kathryn Walker states, “We are thrilled with the year we had in 2021 as we continued to form relationships with clinicians in the USA, provided 5,000 patient visits, and further optimized our operations to facilitate long-term growth. We ended the year with seven clinics and announced another two recently, bringing the total clinic count to nine. During the calendar year 2021, Revitalist also made several notable accomplishments in the capital markets, including our public listing on the Canadian Securities Exchange and raising over $11,000,000. On behalf of the Revitalist team, I express my utmost gratitude to everybody who contributed to our success over the past year as we continue to deliver exceptional patient care and corporate growth.”
ABOUT REVITALIST LIFESTYLE AND WELLNESS LTD.
Revitalist Lifestyle and Wellness Ltd. (CSE: CALM) (OTC: RVLWF) (FSE: 4DO) is a publicly traded company, headquartered in Knoxville, Tennessee, with clinics operating across the United States and expanding. Revitalist is dedicated to empowering individuals toward an improved quality of well-being through a combination of comprehensive care and future-centric treatments provided by medical professionals, mental health experts, and chronic pain specialists. Since opening their first clinic in 2018, Revitalist has provided thousands of infusions for patients suffering from treatment-resistant conditions. Additionally, Revitalist offers a number of lifestyle optimization services and vitamin infusions that can bring anyone closer to total wellness. For additional information and to be added to the Company’s mailing list, please click here.
On Behalf of the Board
Kathryn Walker Chief Executive Officer
Forward Looking Statements
This news release contains forward-looking statements and information within the meaning of applicable securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Revitalist to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release.
Risks, uncertainties, and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
For further information please contact:
Revitalist Lifestyle and Wellness Ltd. Email: IR@revitalist.com
Tel: (865) 585-8414
Source: REVITALIST LIFESTYLE AND WELLNESS LTD.
FAQ
What were the key achievements of Revitalist (RVLWF) in 2021?
Revitalist achieved a 128% increase in patient treatments, reaching approximately 5,000, and reported sales of $2.2 million, a 110% increase year over year.
How many clinics did Revitalist (RVLWF) operate by the end of 2021?
By the end of 2021, Revitalist operated seven clinics across four states.
What is Revitaland and how is Revitalist (RVLWF) involved?
Revitaland is a virtual clinic initiative by Revitalist, where the company acquired a 60% interest in Revitaland Meta Tech Inc. to expand its services in the metaverse.
How much capital did Revitalist (RVLWF) raise in 2021?
Revitalist successfully raised over $11 million in capital during 2021.
Did Revitalist (RVLWF) receive any recognitions in 2021?
Yes, CEO Kathryn Walker received the 'Entrepreneur of the Year' award at the Wonderland event in Miami in November 2021.
