HealthLynked Corp (OTCQB:HLYK) said it has received a $2 million equity investment from a family office located in Naples, Florida.
HealthLynked shares climbed 20% to $0.78 in early Tuesday trading following the announcement.
“We are incredibly pleased to have the support of a Naples based local family office, and they have indicated a strong interest to make an additional investment at the time of our planned up-listing to the Nasdaq exchange,” HealthLynked CEO Dr Michael Dent said in a statement.
READ: HealthLynked is a formidable player in healthcare with several revenue spinning businesses
He added: “Naples is a great community and home to many innovative leaders across a wide range of industries. I am excited to have the support from the community in which HealthLynked is located and is working to improve healthcare for both the local community and for patients worldwide.”
HealthLynked CFO George O'Leary also weighed in on the announcement, stating: “This investment significantly increases HealthLynked's net equity, moving us that much closer to our plan to up-list to Nasdaq, provides us with working capital, and gives us the ability to take advantage of strategic opportunities.”
The company also noted some of its significant milestones in the past several months, including:
- A 59% increase in revenues in the year to September 30, 2020, compared to the same period of 2019, even with the generally negative impact of coronavirus on the healthcare services industry
- $768,000 in shared savings revenue and a fourfold growth in covered Medicare beneficiaries in the company's Accountable Care Organization business
- Completed the acquisition of MedOfficeDirect, LLC in October 2020
- Launched Oohvie, a proprietary app focused on female health, in October 2020
- Relocated the corporate headquarters to the Arthrex Campus in November 2020
- Announced the expansion of the women's health business and the planned launch of Telemedicine for March 2021
- Reported the conversion of $1.3 million of debt to equity, further strengthening the balance sheet
- Announced the upcoming Healthcare Summit "the Future of Healthcare" to be held at the Arthrex campus
- Reported the launch of CareLynk and athenahealth marketplace platform
HealthLynked is a global healthcare network focused on patient care management. It connects patients, doctors and data through its global healthcare network using technology to reduce costs and improve patient outcomes.
The Naples, Florida-based group’s cloud-based HealthLynked Network connects patients to over 800,000 physicians across the US. After signing up, users can find information on physicians, their areas of expertise, and connect with healthcare providers. The service is free to patient members and enables them to share their healthcare information with their providers. Up-to-date health records can also be shared with other providers and family members if a user chooses to do so.
Contact Sean at sean@proactiveinvestors.com