Revitalist Reports 2021 Financial Results and Provides Business Update
Revitalist Lifestyle and Wellness Ltd. (OTCQB: RVLWF) reported significant growth for the year ended December 31, 2021. The company raised over $11 million and increased patient visits by 128%, totaling over 5,000 visits. Sales surged 110% to $2,067,456. Revitalist expanded operations by opening 9 clinics and launching new service lines, including Mental Health Coaching. With cash reserves of $3.9 million, the company plans further expansion and development in the psychedelic wellness sector. CEO Kathryn Walker highlights the firm's growth as a foundation for future initiatives.
- Raised over $11 million in funding.
- Achieved 110% sales increase to $2,067,456.
- Expanded patient visits by 128%, totaling over 5,000.
- Opened 9 clinics, enhancing market presence.
- Introduced new service lines, increasing service offerings.
- Net cash used in operations totaled $3.5 million.
- Negative cash flow due to expansion-related expenses.
Highlights
-
Revitalist successfully raised over
$11,000,000 - Commenced trading on the Canadian Securities Exchange and shortly thereafter on the OTCQB and FSE
- Received DTC eligibility, the largest securities depository in the world
-
Expanded insurance coverage at all locations adding in-network coverage through commercial and federal programs including
Blue Cross Blue Shield , Cigna,United Healthcare , Humana, Optum, Aetna, and Medicare - Executed agreements allowing Revitalist the option to open 9 new clinics for a period of 3 years
- Introduced new service line offerings including Transcranial Magnetic Stimulation, Teletherapy and Mental Health Coaching, Intensive Outpatient Programs, Vitamin Health Lines, Athletic Mental Health Advocacy Certification
-
Launched initiatives for Athletes, Veterans, LGBTQ+, and Adolescents including partnerships with
Veterans Affairs , Athletes for Care,All Secure Foundation ,Camaraderie Rescue Mission , Stand4Kind,Community Change Foundation ,Gaffney Athletic Preparatory Academy and theAmerican Association of Psychedelics -
Established Research /Scholarly Activities Division (RSAD) with a focus on quality initiatives of psychedelic and alternative medicines including specializations inHuman Research , Evidenced Based, and Quality Improvement Projects across all clinic locations. - Expanded internal marketing efforts with recruitment of internationally known marketing expert with over 30 years of experience in trailblazing markets
- Established contract with MetaChain Technologies creating virtual clinic platform, Revitaland.
- Creation of two global proprietary scales for use with mental health and psychedelic medicine
- Creation of nine proprietary trademarked service lines for future growth and development of the psychedelic wellness space
Clinic Growth
During the year ended
Current Revitalist Clinic Locations:
The Company formally announced its plans to enter the Metaverse with virtual clinics developed by their
Financial Highlights
Revitalist closed the year with over 5,000 patient visits, up
Monthly visits are summarized in the chart below.
Month |
Year |
Patient Visits |
March |
2022 |
1274 |
February |
2022 |
975 |
January |
2022 |
871 |
December |
2021 |
858 |
November |
2021 |
745 |
October |
2021 |
664 |
September |
2021 |
600 |
August |
2021 |
535 |
July |
2021 |
496 |
June |
2021 |
359 |
May |
2021 |
341 |
April |
2021 |
267 |
March |
2021 |
225 |
February |
2021 |
185 |
Balance Sheet
As of
Revitalist CEO,
ABOUT
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LinkedIn: @RevitalistLifestyleAndWellnessLtd
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220502005755/en/
On Behalf of the Board
Chief Executive Officer
Email: IR@revitalist.com
Tel: (865) 585-8414
Source:
FAQ
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