Artificial Intelligence
MCI Onehealth Completes Strategic Acquisition of Polyclinic
– Flagship facility showcases MCI’s innovative personalized healthcare model –
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TORONTO, Aug. 04, 2021 (GLOBE NEWSWIRE) — MCI Onehealth Technologies Inc. (“MCI” or the “Company”) (TSX: DRDR) has completed a series of share purchase agreements to acquire an 80% interest in Canadian Phase Onward Inc., The Quit Clinic Inc. and Executive Medical Concierge Canada (2021) Ltd. (collectively, “Polyclinic”) through its subsidiary MCI Polyclinic Group Inc. (“MCI Polyclinic”). This strategic acquisition aligns with MCI’s mission to meaningfully contribute to the transformation of the Canadian healthcare system and improve access to care by delivering an innovative, personalized patient experience.
Once the necessary approval from the Ministry of Health is obtained, MCI will also acquire North York Pulmonary Function Centre Inc.
MCI Polyclinic will provide onsite integrated health services including primary care, specialist care, lab services and an in-house clinical research organization, and will be the flagship of the growing MCI ecosystem of health services that already includes a leading-edge virtual care platform, primary and urgent care clinics in Ontario and Alberta, specialist services, a corporate health division, and a growing web of wholly-owned and affiliated personalized medicine and diagnostics services backed by cutting-edge technologies and artificial intelligence. MCI Polyclinic is expected to generate annualized gross revenue in excess of $5.0 million and annualized adjusted EBITDA in excess of $1.0 million.
MCI Polyclinic consists of four different types of medical facilities
- Canadian Phase Onward – a clinical research organization with seasoned expertise in clinical studies, trial recruitment and management.
- The Quit Clinic operating as Polyclinic Family and Specialty Medicine Facility – primary care, specialist, and diagnostic clinics, with historical annual patient volumes exceeding 100,000 patient visits per year.
- Executive Medical Concierge Canada – an executive healthcare practice with a growing client list that the Company anticipates can be leveraged by MCI’s client base and 400+ corporate clients.
An integrated care model that enhances access, quality and efficiency
- The MCI Polyclinic facility offers patients the convenience of having integrated services under one roof, including access to more than 50 primary care physicians and specialists, labs, and clinical trials.
- Integrated patient record and referral systems allow diverse care providers to operate as an efficient team, with the patient at the center, with greater quality control, information sharing and responsiveness.
- The internal patient referral system in operation at MCI Polyclinic and across the MCI network helps capture the needs of patients who would otherwise struggle to find timely, specialized care.
Ensuring continuity of care and access to more health services through a seamlessly integrated model of virtual and in-person care
The acquisition of Polyclinic not only expands MCI’s brick-and-mortar clinic footprint in Ontario, it also creates access for more Ontarians to experience the unique value-add to MCI patients, of which one key feature is continuity of care between virtual and in-person visits with the same physician.
“MCI Polyclinic is the centralized physical example of the personalized healthcare model we have strategically built across the MCI ecosystem both digitally and physically. We expect it will serve as our flagship for the type of care that patients want and deserve – the highest quality, the most convenient and efficient, with the greatest access to services, ongoing attention to their individual diagnoses and treatments and more-readily available access to in-house advanced clinical treatment and research opportunities”, said Dr. Alexander Dobranowski, CEO of MCI.
All current Polyclinic staff and healthcare providers will continue their association with the clinic. Patients of MCI Polyclinic will continue to receive the same excellent care and convenience they have had at Polyclinic, and will now have access to additional services in the MCI network.
“We are thrilled for our patients that, in MCI, we have found a like-minded partner with the financial resources, care-network assets, leadership and vision to scale the Polyclinic model,” said Dr. Lew Pliamm, founder of Polyclinic. “Earlier diagnoses and the highest quality personalized treatment before, during and after, is the experience we have built at Polyclinic. Together with MCI – leveraging their strategically growing personalized care ecosystem – we can champion this innovative model for patients everywhere.”
Enabling personalized intelligence through cutting-edge technologies and artificial intelligence
“The MCI model of care provides personalized medicine for patients today, and personalized intelligence for their future care”, said Saleema Khimji, Chief Innovation Officer of MCI. “With integrated systems and data-driven tools, we believe we can further unlock meaningful insights from consistent and high-quality structured clinical information. We expect these insights to further enable MCI’s technology, research and precision medicine roadmap – designed to provide a data-driven, deeply personalized patient profile, accurate and faster diagnosis and expanded treatment options. Also, by building a richer and deeper patient profile, we expect MCI can then simultaneously leverage this directly into research initiatives and clinical trials, which is a key factor in advancing precision medicine.”
A scalable and innovative model for better health outcomes for Canadians – The MCI Onehealth ecosystem as the model of the future
“We believe we are now in a position, with many of the required building blocks for our ecosystem – to make significant strides in helping the healthcare industry at large transition from a traditional care service delivery model to one that is more personalized, holistic and most importantly, data and technology driven. And with the MCI Polyclinic model, we expect we can tangibly deliver on and contribute to the newly emerging frameworks of team-based and integrated healthcare delivery,” said Dobranowski.
“When we think about the future of healthcare, I firmly believe that our MCI model could serve as a viable and scalable option that could provide cost-effective personalized care for Canadians within both the current framework of the public healthcare system as well as emerging and proposed frameworks for the future of health care in Canada.”
Terms of acquisition
MCI has acquired all of the issued and outstanding shares of Canadian Phase Onward Inc., The Quit Clinic Inc. and Executive Medical Concierge Canada (2021) Ltd. for consideration consisting of: (i) cash consideration in the amount of C$5,133,000; (ii) the issuance of C$384,000 in Class A Subordinate Voting Shares in the capital of MCI, at a deemed price per MCI Share of C$2.71; and (iii) a 20% ownership interest in MCI Polyclinic.
About MCI
MCI is a healthcare technology company focused on empowering patients and doctors with advanced technologies to increase access, improve quality, and reduce healthcare costs. As part of the healthcare community for over 30 years, MCI operates one of Canada’s leading primary care networks with 25 clinics, serves over 850,000 patients annually and had over 200,000 telehealth visits last year. MCI additionally offers an expanding suite of occupational health service offerings that support a growing list of over 400 corporate customers. Led by a proven management team of doctors and experienced executives, MCI remains focused on executing a strategy centered around acquiring technology and health services that complement MCI’s current roadmap. For more information, visit mcionehealth.com.
For IR enquiries please contact:
Fernando Massalin | ir@mcionehealth.com | +1 (416) 440-4040 ext. 155
For media enquiries please contact:
Nolan Reeds | [email protected] | +1 (416) 440-4040 ext. 158
Forward-Looking Statements
This press release contains forward-looking information and forward-looking statements (together, “forward-looking statements”) within the meaning of applicable securities legislation, which reflect MCI’s current expectations regarding future events, including statements relating to: MCI’s guidance and outlook, including with respect to expected revenue, income and impact of Polyclinic and MCI Polyclinic; MCI’s business plan and strategic focus; anticipated benefits to patient care, MCI’s health services ecosystem; the anticipated benefits of the Polyclinic acquisition and MCI’s partnerships; personalized medicine; Polyclinic’s integrated care model; the anticipated benefits of clinical information; and MCI’s technology, research and precision medicine roadmap. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of words or phrases such as “anticipate”, “believe”, “continue”, “expect”, “grow”, “plan” or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” occur. All statements and disclosures, other than those of historical fact, which address activities, events, outcomes, results or developments that the Company anticipates or expects may, or will occur in the future (in whole or in part) should be considered forward-looking statements. Forward-looking statements are based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond MCI’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include that: the Polyclinic acquisition may not have the results currently anticipated by the Company; the Company may be unable to integrate Polyclinic’s business with its own in the timelines anticipated, in the manner anticipated or at all; increased costs and expenses; reliance on industry partners; technologies and services not functioning as expected; third parties not using technologies and services as expected; economic conditions making technologies and services less attractive than anticipated; competitors in the Company’s industry; the possibility of a breakdown in the relationship between minority shareholders of Polyclinic and the Company, and other factors discussed under “Risk Factors” in the Company’s annual information form for the year ended December 31, 2020 which is available under the Company’s profile on SEDAR at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive and are cautioned not to place undue reliance on these forward-looking statements. All forward-looking statements made in this press release are made as of the date hereof and MCI does not undertake any obligation to update such forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Artificial Intelligence
Identity Governance & Administration Market Projected to Reach $24.42 billion by 2030 – Exclusive Report by 360iResearch
PUNE, India, April 25, 2024 /PRNewswire/ — The report titled “Identity Governance & Administration Market by Component (Services, Solution), Modules (Access Certification & Compliance Control, Access Management, Identity Lifecycle Management), Organization Size, Deployment, Vertical – Global Forecast 2024-2030” is now available on 360iResearch.com’s offering, presents an analysis indicating that the market projected to grow from a size of $8.46 billion in 2023 to reach $24.42 billion by 2030, at a CAGR of 16.34% over the forecast period.
“Navigating Global Identity Governance With Key Strategies for Digital Security and Compliance”
Identity governance and administration (IGA) has emerged as a critical policy-driven approach aimed at fortifying digital identities within organizations, ensuring that proper access is provided to the right individuals for valid reasons. Across the globe, the demand for IGA solutions is on the rise, driven by the need to tackle sophisticated cyber threats, comply with stringent data protection laws, and adapt to the digitization wave sweeping through industries. Challenges include integrating these solutions with pre-existing IT frameworks, primarily in organizations reliant on legacy systems. The North American market, led by the United States and Canada, is at the forefront of this expansion, embracing technological advancements and stringent regulatory standards. Meanwhile, the Europe, Middle East, and Africa (EMEA) region is navigating its unique landscape, with the EU focusing heavily on compliance through GDPR and the Middle East and Africa gradually recognizing the value of digital security. The Asia-Pacific region is witnessing a significant uptrend in IGA solutions adoption, spurred by digital transformation initiatives and cybersecurity awareness, with China and India playing pivotal roles. This global perspective highlights the universal importance of IGA in today’s digital era, highlighting the critical balance between innovation, security, and regulatory compliance in safeguarding digital identities.
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“Navigating the New Normal With The Crucial Role of Identity Governance in Securing Hybrid Work Environments”
As businesses globally embrace the fusion of remote and traditional office work, the need for secure, hybrid workspaces becomes paramount. The shift toward flexible working models, accelerated by the COVID-19 pandemic, highlights the importance of cybersecurity and accessibility in ensuring operational continuity and a better work-life balance. Identity governance & administration (IGA) systems emerge as essential tools within this evolving work landscape. They enable organizations to manage digital identities and access rights effectively, safeguarding sensitive data against unauthorized access across diverse working environments. By ensuring that only credentialed employees can access critical information, regardless of their physical location, IGA solutions stand at the forefront of maintaining cybersecurity compliance and operational integrity. This development signifies a growing demand for robust identity governance frameworks, ensuring businesses remain resilient and secure in remote work and beyond.
“Elevating Security and Efficiency in Organizations through Specialized Identity Governance & Administration Services”
Managed and professional services provide organizations with the specialized expertise necessary for optimizing the performance and security of identity governance & administration (IGA) systems, eliminating the need for such in-depth knowledge internally. Businesses benefit from advanced skills that enhance system functionality and safeguard sensitive data by outsourcing specific IGA tasks. From the initial stages of integration and implementation, ensuring seamless incorporation with existing infrastructures, to ongoing support and maintenance for consistent system reliability and up-to-dateness, these services form the foundation of effective IGA strategies. Furthermore, training and consulting play a pivotal role, equipping companies with the understanding and capability to utilize their IGA systems to the fullest. IGA solution is a critical technological tool designed to streamline the management of user access rights across organizations, bolstering security, operational efficiency, and compliance with regulatory standards. This comprehensive approach to IGA facilitates a more secure, efficient, and compliant organizational environment, empowering businesses to focus on core objectives and ensure their data remains protected.
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“International Business Machines Corporation at the Forefront of Identity Governance & Administration Market with a Strong 7.09% Market Share”
The key players in the Identity Governance & Administration Market include Broadcom, Inc., SAP SE, Oracle Corporation, Microsoft Corporation, International Business Machines Corporation, and others. These prominent players focus on strategies such as expansions, acquisitions, joint ventures, and developing new products to strengthen their market positions.
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We proudly unveil ThinkMi, a cutting-edge AI product designed to transform how businesses interact with the Identity Governance & Administration Market. ThinkMi stands out as your premier market intelligence partner, delivering unparalleled insights with the power of artificial intelligence. Whether deciphering market trends or offering actionable intelligence, ThinkMi is engineered to provide precise, relevant answers to your most critical business questions. This revolutionary tool is more than just an information source; it’s a strategic asset that empowers your decision-making with up-to-the-minute data, ensuring you stay ahead in the fiercely competitive Identity Governance & Administration Market. Embrace the future of market analysis with ThinkMi, where informed decisions lead to remarkable growth.
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“Dive into the Identity Governance & Administration Market Landscape: Explore 197 Pages of Insights, 654 Tables, and 26 Figures”
PrefaceResearch MethodologyExecutive SummaryMarket OverviewMarket InsightsIdentity Governance & Administration Market, by ComponentIdentity Governance & Administration Market, by ModulesIdentity Governance & Administration Market, by Organization SizeIdentity Governance & Administration Market, by DeploymentIdentity Governance & Administration Market, by VerticalAmericas Identity Governance & Administration MarketAsia-Pacific Identity Governance & Administration MarketEurope, Middle East & Africa Identity Governance & Administration MarketCompetitive LandscapeCompetitive PortfolioInquire Before Buying @ https://www.360iresearch.com/library/intelligence/identity-governance-administration
Related Reports:
Privileged Identity Management Market – Global Forecast 2024-2030Identity & Access Management Professional Services Market – Global Forecast 2024-2030Digital Identity Solutions Market – Global Forecast 2024-2030About 360iResearch
Founded in 2017, 360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
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Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.
Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.
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Artificial Intelligence
Enghouse Video Partners With SONIFI Health To Deliver Advanced Telehealth Solutions In Hospital Rooms
MARKHAM, ON, April 25, 2024 /PRNewswire/ — Enghouse Video, a global leader in cutting-edge video technology solutions, today announced its partnership with SONIFI Health, enhancing virtual care in hospital settings.
SONIFI Health is a leading U.S. healthcare technology company based in Sioux Falls, South Dakota. The new partnership leverages and integrates Enghouse Video room systems technology to support SONIFI Health’s commitment to expanding telehealth applications and system optimizations in hospital settings.
Enghouse’s VidyoRooms solution, a sophisticated video conferencing technology that combines both software and hardware solutions, has been fully integrated into SONIFI Health’s interactive TV systems. This integration provides up to 4K high-quality video conferencing, multi-party sessions and robust security features that ensure full compliance with healthcare regulations.
Enghouse Video offers an immersive telehealth platform to support collaborative interdisciplinary care, improved patient outcomes and cost savings. The platform is flexible and simple, delivering the reliability, interoperability, and scalability needed for today’s healthcare environment. A key strength of the partnership is its offering of back-end integrations like patient portals, medical devices, EMR, tele-sitting, remote patient observation and consultation.
“Hospitals can choose the telehealth partner that’s right for them, and we incorporate that solution with interactive TV,” said Brian Nido, SONIFI Health’s Vice President of Customer Success. “Using the hardware and systems they already have in patient rooms helps hospitals reduce costs and maximize the value of their existing investments, while benefiting both clinicians and patients.”
SONIFI Health and Enghouse Video continue to collaborate closely to further refine and enhance the telehealth solutions provided to healthcare facilities. This partnership reflects a shared commitment to leveraging technology to create smarter hospital rooms and improve patient care across the healthcare spectrum.
About Enghouse VideoEnghouse Video, part of the Enghouse Interactive division, is a subsidiary of Enghouse Systems Limited, a vertically focused software and services company traded on the Toronto Stock Exchange (TSX: ENGH). Through highly secure, scalable and flexible Cloud-based or On Prem services, we deliver one of the world’s highest quality and most innovative video platform to video-enable any application or idea. From advanced video conferencing and collaboration tools to state-of-art enterprise video management, Enghouse Video is a unique player in multiple markets, including telehealth. Learn more at www.enghousevideo.com, read our blog, or follow us on Twitter at @EnghouseVideo, on LinkedIn, and on Facebook.
About SONIFI HealthSONIFI Health provides market-leading interactive patient engagement technology proven to improve patient outcomes and staff productivity. The EHR-integrated platform is designed to enhance patient and family experiences while increasing staff satisfaction and organizations’ operational efficiencies. As part of SONIFI Solutions, Inc., the company annually supports more than 300 million end user experiences. Learn more at sonifihealth.com.
Enghouse Video Contact: Sylvain Awad, Director, Demand Generation, Enghouse Video, part of Enghouse Interactive Division, [email protected]
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Artificial Intelligence
Global Insurance Provider Selects 3CLogic to Streamline AI and Contact Center Capabilities with ServiceNow
Multinational Insurance Broker to deploy 3CLogic’s solution with ServiceNow’s Financial Service Operations (FSO) platform to streamline customer experiences.
ROCKVILLE, Md., April 25, 2024 /PRNewswire/ — 3CLogic, the leading Conversational AI and Contact Center solution for ServiceNow®, today announced its selection by a global insurance provider to replace its existing contact center infrastructure as part of a larger CX transformation effort. The strategic decision is designed to complement the organization’s use of ServiviceNow’s Financial Services Operations (FSO) offering leveraged across a number of its existing product lines including Customer Warranty Claims, Roadside Assistance, and Home Warranties.
Serving millions of customers worldwide with innovative insurance and protective products, the organization required a solution that would enhance its recent investment in the ServiceNow platform as it works to transform its end-to-end customer service operations. The deployment will incorporate several of 3CLogic’s AI-powered capabilities purpose-built for ServiceNow, including Conversational AI, Speech Analytics, and AI Performance & Coaching, along with integrated call transcriptions, convenient 2-way SMS, and ServiceNow-centralized contact center reporting.
“We continue to see enterprises eager to complement their existing investment in digital platforms, such as ServiceNow, with contact center features purpose-built to extend the workflows and features they already have and use,” explains Matt Durkin, VP of Global Sales at 3CLogic. “It’s no secret that organizations are already juggling too many systems, often with overlapping capabilities, which impacts ROI and operational efficiency. We’re proud to offer an alternative approach that helps simplify the technology stack while optimizing the overall operational costs and outcomes.”
Recently named to Constellation Research’s 2024 Shortlist for Digital Customer Service and Support, 3CLogic has seen global adoption of its solution by leading enterprises in healthcare, manufacturing, travel, retail, higher education, finance, non-profits, and Managed Service Providers across five continents. As a ServiceNow-certified Technology and Build partner with offerings available for ServiceNow’s IT Service Management, Customer Workflows, HR Service Delivery, and Source-to-Pay solutions, the company will be unveiling its latest set of capabilities at ServiceNow’s annual Knowledge 2024 event this May in Las Vegas.
For more information, please contact [email protected].
About 3CLogic3CLogic transforms customer and employee experiences with its leading Cloud Contact Center and AI solutions purpose-built to enhance today’s leading CRM and Customer Service Management platforms. Globally available and leveraged by the world’s leading brands, its offerings empower enterprise organizations with innovative features such as intelligent self-service, generative and Conversational AI, agent automation & coaching, and AI-powered sentiment analytics – all designed to lower operational costs, maximize ROI, and optimize each interaction across IT Service Desks, Customer Support, Sales or HR Services teams. For more information, please visit www.3clogic.com.
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