Skylight Health Announces Partnership with ClinEdge for Clinical Trials in the US

Rhea-AI Summary

Skylight Health Group (TSXV:SHG; OTCQX:SHGFF) has partnered with ClinEdge to integrate clinical research into primary care practices in Massachusetts. This collaboration aims to enhance patient access to clinical trials, spanning various indications such as diabetes and COVID-19, starting with Skylight's clinics in Massachusetts. The partnership leverages ClinEdge's expertise to facilitate research trials, potentially benefiting patients and generating revenue for Skylight Health. This initiative aligns with Skylight's mission to improve healthcare outcomes and expand its research capabilities across the US.

Positive

• Partnership with ClinEdge enables access to clinical trials for patients.
• Trial opportunities across various indications, including diabetes and COVID-19.
• Potential revenue generation of $1,000 - $15,000 per patient per trial.
• Partnership may lead to expansion into other US states after initial success in Massachusetts.

Negative

• None.

Skylight Health signs partnership with ClinEdge to bring clinical research to primary care practices in Massachusetts

• ClinEdge has over ten years experience partnering prominent research sponsors with clinical research sites;
• Skylight Health provides primary care services in multiple states across the US, and will act as a clinical research site partner for ClinEdge;
• The partnership with ClinEdge will bring industry-sponsored trials to Skylight Health’s clinics beginning with Massachusetts to accelerate growth in the field of research; and
• This partnership demonstrates the value of Skylight’s diversity in healthcare services across the United States.

TORONTO, April 07, 2021 (GLOBE NEWSWIRE) -- Skylight Health Group Inc (TSXV:SHG; OTCQX: SHGFF) (“Skylight Health” or the “Company”), a multi-state primary care management group in the United States, announced today a partnership with ClinEdge, one of North America’s leading clinical research groups.

ClinEdge provides a full suite of services to support clinical research institutions, Contract Research Organizations (“CROs”), and sponsors. Their mission is to develop and grow service lines that positively affect the cost structure, timeliness and accuracy of administering clinical research. Their relationships with CROs and other industry sponsors ensure the success of their Study Lead Generation Services to identify clinical trials to suit the population of each research site in their network. ClinEdge works closely with clinical research sites to ensure their success in being awarded clinical research trials from highly experienced and well-known industry sponsors.

“Partnering with sponsors that share a similar vision on the importance of quality clinical research that puts patients first is vital to Skylight’s growth and the growth of the US healthcare system at-large,” said Alisha Garibaldi, Clinical Research Manager, Skylight Health Group. “ClinEdge brings unparalleled experience in this field, and we’re proud to have solidified this partnership.”

This partnership with ClinEdge will add to the 50+ years of experience on the Skylight Health Research Team and will bring clinical research trials investigating a wide range of indications beginning with the clinical sites in Massachusetts. This will provide an opportunity for patients in Massachusetts to participate in these trials, which may provide them access to new therapies, treatments or vaccines. Skylight Health understands the value of research, and not only wants to provide the best care of their own patients but wants to ensure that as a Company, they can contribute to the broader medical science community as it continues to progress. Based on the success in Massachusetts, Skylight will look to further expand this partnership across other US states.

ClinEdge brings trials opportunities in a wide range of indications, including diabetes, COVID-19, arthritis, post-traumatic stress disorder, hypertension, and many others. Patient participation in trials awarded to Skylight Health will be available for both existing patients, as well as individuals who may not be patients of Skylight Health but are interested in contributing to clinical research.

Apart from being able to contribute to scientific knowledge, participating in clinical research trials can financially benefit Skylight Health and patients alike. The award for clinical research sites may range from $1,000 - $15,000 per patient per trial, and patients receive stipends to compensate for their time and effort for participating in clinical trials as well as reimbursements for expenses incurred. The teams at ClinEdge and Skylight carefully screen all trials for scientific and ethic rigour prior to reaching out to potential patients.

“At Skylight Health we focus on continually improving the care of our patients through research, data, and innovation. We are excited to announce our partnership with ClinEdge as it is the next step in the expansion of our clinical research program. This partnership represents an opportunity for our clinics and patients to make meaningful contributions to the improvement of healthcare through clinical research while providing access to new therapies and the potential for subsidized care,” Christopher Smith, SVP of Digital Health and Research, Skylight Health.

About Skylight Health Group

Skylight Health Group (TSXV:SHG; OTCQX:SHGFF) is a healthcare services and technology company, working to positively impact patient health outcomes. The Company operates a US multi-state health network that comprises of physical multi-disciplinary medical clinics providing a range of services from primary care, sub-specialty, allied health and laboratory/diagnostic testing. The Company owns and operates a proprietary electronic health record system that supports the delivery of care to patients via telemedicine and other remote monitoring system integrations. With a patient roster of over 155,000 patients, the Company’s operations servicing 16 states and continues to expand in services and locations both organically and by way of strategic acquisitions.

The Company primarily operates a traditional insurable fee-for-service model contracting with Medicare, Medicaid and other Commercial Payors. The Company also offers a disruptive subscription-based telemedicine service for the un/under-insured population who have limited access to urgent care due to cost.

About ClinEdge

ClinEdge provides a full suite of clinical trial management solutions to pharmaceutical companies, CROs, and clinical research sites. Offerings include a global site network of research clinics, patient recruitment and retention, marketing and creative design, patient travel coordination, clinical trial management, staffing, and financial management.  With extensive experience in multiple medical indications representing all therapeutic areas, including a specialty in rare disease engagement, ClinEdge has helped clients successfully conduct thousands of clinical studies by boosting patient recruitment, minimizing enrollment times, driving retention, and improving overall business performance.

For more information visit www.clin-edge.com.

For more information on Skylight Health Group or this announcement, please visit www.skylighthealthgroup.com or contact:

Investor Relations:
Jackie Kelly
investors@skylighthealthgroup.com
416-301-2949

Currency Usage, Cautionary and Forward-Looking Statements

All currency contained in this Press Release represent Canadian Dollars unless otherwise stated.

Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in Skylight Health's filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should," and similar expressions, are forward-looking statements.

Forward-looking statements may include, without limitation, statements regarding the Company's unaudited financial results and projected growth.

Financial forecasts in this release are based on the current revenue run rate of Skylight Health, all of its recently completed acquisitions, and its pending acquisitions. This forecast is subject to the closing of any and all pending acquisitions, and successful integration of all its current and future acquisitions without any loss or interruptions of revenues during the integration and transition process. The Company may revise this forecast from time to time and investors should not solely rely on this forward-looking guidance when making an investment decision.

Although Skylight Health has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: the ability of Skylight Health to execute on its business strategy, continued revenue growth in accordance with management’s expectations, operating expenses continuing in accordance with management expectations, dependence on obtaining regulatory approvals; Skylight Health being able to find, complete and effectively integrate target acquisitions; change in laws relating to health care regulation; reliance on management; requirements for additional financing; competition; hindering market growth or other factors that may not currently be known by the Company.

There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.

Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. Skylight Health disclaims any intention or obligation to update or revise such information, except as required by applicable law, and Skylight Health does not assume any liability for disclosure relating to any other company mentioned herein.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

FAQ

What is the purpose of the partnership between Skylight Health and ClinEdge?

The partnership aims to bring clinical research trials to Skylight Health's primary care practices in Massachusetts, enhancing patient access to new therapies.

What types of clinical trials will Skylight Health conduct with ClinEdge?

Skylight Health will conduct trials across various indications, including diabetes, COVID-19, arthritis, and PTSD.

When will the clinical trials be available for patients at Skylight Health clinics?

The clinical trials are expected to begin in Massachusetts, with availability starting soon after the partnership announcement.

How might participating in clinical trials financially benefit Skylight Health and its patients?

Patients may receive stipends for their participation, while Skylight Health could earn between $1,000 and $15,000 per patient per trial.

What is Skylight Health's future plan regarding the partnership with ClinEdge?

Based on the success in Massachusetts, Skylight Health plans to expand the partnership to additional states in the US.