LevelJump Provides Business Update; Reflection on 2023 Accomplishments & Planned Growth for 2024
- JUMP expects to announce over a 30% year-over-year increase in revenue for its wholly owned subsidiary, Canadian Teleradiology Services (“CTS”).1
- In 2023, JUMP became a nation-wide Company with operations spanning three different provinces in Canada.
Toronto, Ontario–(Newsfile Corp. – February 16, 2024) – LevelJump Healthcare Corp. (TSXV: JUMP) (OTC Pink: JMPHF) (FSE: 75J) (“LevelJump” or the “Company”), a Canadian leader in B2B telehealth solutions, is pleased to announce an update of its 2023 accomplishments and upcoming 2024 developments.
Doubling of JUMP’s IHF Footprint
On October 6, 2023, JUMP completed the acquisition of four Alberta-based Diagnostic Imaging Clinics offering multi-modality imaging to local communities in Calgary. Since the acquisition, the Company has been working vigorously to streamline operations, increase revenues at all locations and elevate the overall patient experience.
“In 2023, JUMP strategically focused on acquisitions and modernizing operations in existing and newly acquired clinics,” said CEO, Mitch Geisler. “With a commitment to boosting revenue and increasing shareholder value, the Company is forging ahead, establishing an efficient operational framework for sustained growth and success in the evolving market landscape.”
JUMP’s Yonge-Sheppard Flagship Clinic
Located at the central, high-foot-traffic location of the Yonge Sheppard Centre, JUMP’s highly anticipated flagship clinic is expected to open Q2 2024. Following the acquisition of the license in December of 2022, the Company has spent 2023 developing the multi-modality clinic, ensuring its readiness to it to provide patients with high-quality x-ray and ultrasound services.
Beyond the initial focus on diagnostic imaging, JUMP has plans to expand the Yonge Sheppard location, establishing it as the first location for in-person Telehospital care, providing primary physician care. The clinic’s central location, accessible via two subway lines, guarantees not only high visibility but also ensures convenience for Toronto residents seeking accessible healthcare.
Telehospital Web Development
In 2023, the Company began the development of teleHospital Canada in partnership with 247 Labs Inc, an award-winning team of experienced web and mobile app developers. The digital health platform will provide remote urgent care and emergency room consultation services to Canadians, in hopes of marking a significant step towards revolutionizing healthcare accessibility and convenience.
Scheduled for launch in the coming year, this innovative platform aligns with the Company’s vision of leveraging technology to enhance and extend vital healthcare services to a broader population.
The Company is expecting to launch the BETA site in Q2 2024. To sign up for on-going updates, click here.
Expansion of Teleradiology Services Beyond Ontario
In September of 2023, the Company achieved a significant milestone by extending its Teleradiology services beyond Ontario, into Saskatchewan. The expansion reflects the strategic vision of CTS (JUMP’s wholly owned operating subsidiary) which not only added on more client hospitals in 2023, but is actively pursuing new client acquisitions for the ongoing year.
As part of this growth strategy, CTS aims to further solidify its presence in the healthcare sector, enhancing its network of client hospitals beyond the current scope through its commitment to innovation and efficiency. CTS presently serves as the largest Teleradiology company in Canada, reflecting a substantial footprint that positions the Company as an upcoming key player in providing essential healthcare services across the region.
Looking ahead, the Company remains dedicated to expanding its reach, creating new partnerships, and providing healthcare solutions to hospitals and clinics across Canada.
Update on Settlement with Real Time Medical (“RTM”)
Further to its news release of August 30, 2023, the Company wishes to announce that it has entered into a revised settlement agreement with RTM whereby RTM has agreed to purchase the Company’s interest in RTM in exchange for forgiveness of a shareholder loan and the discontinuance of an oppression claim brought by the Company against RTM and its directors in Ontario Superior Court (CV-22-683214-00CL).
The settlement agreement originally provided that RTM would pay the Company $1,084,000 in cash by January 15, 2024. Under the revised settlement agreement, the Company will now receive total cash of $1,184,000 of which $200,0000 has been received, $100,000 is due on February 28, 2024 and the balance of $884,000 is due on April 30, 2024. In the event of default by RTM, the Company shall be entitled to obtain default judgement.
Update on Non-Brokered Private Placement
The Company also wishes to announce that, following receipt of Exchange approval, and further to its news releases dated November 28, 2023, and January 17, 2024, there have been no further closings under the Company’s now closed private placement.
Footnotes:
- Based on preliminary financial information and subject to LevelJump’s year end audit which is expected to be completed in April 2024.
About LevelJump Healthcare
LevelJump Healthcare Corp., (TSXV: JUMP) provides telehealth solutions to client hospitals and imaging centers through its Teleradiology division, as well as in person radiology services through its Diagnostic Centres. JUMP focuses primarily on critical care for urgent and emergency patients, establishing integral relationships in the communities we serve.
ON BEHALF OF THE BOARD OF DIRECTORS OF
LEVELJUMP HEALTHCARE CORP.
Mitchell Geisler
Chief Executive Officer
Caitlin-Robyn Densmore
Investor Relations Manager
Caitlin.Densmore@leveljumphealthcare.com
(437) 214-1568
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the Company’s business plans and the outlook of the Company’s industry. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws. The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, Canadian Teleradiology Services, Inc., their securities, or their respective financial or operating results (as applicable).
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.
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