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
Unlock an Exclusive Olympic Experience: Celebrating Live4Well’s Sold-Out Genesis NFT
HONG KONG, May 25, 2024 /PRNewswire/ — The buzz surrounding Live4Well’s successful Genesis NFT membership launch on May 23 has captivated both traditional and web3 communities. Combining the power of AI technology and decentralized physical infrastructure (DePin) concept, Live4Well has infused new life into the NFT market. The overwhelming response to their first NFT sales, showcases the project’s immense potential. Renowned web3 community leaders from Azuki, Bored Ape, Pudgy Penguins, WELL3, etc have joined forces with Live4Well, propelling the Genesis NFT membership collection to its resounding success.
Live4Well aims to transform the wellness industry by creating a reward-based infrastructure that connects global fitness data, enhances their AI database, and drives the development of sports and wellness. Backed by a multi-billion family office, which recently invested $20 million in Live4Well, the project has gained support in both web3 and traditional spaces. The team believes that every drop of sweat and effort toward better health should be rewarded, fostering motivation and integrating exercise into daily lives for enhanced well-being.
Live4Well’s announcement of an Olympic-themed raffle for Genesis NFT holders reflects their commitment to connecting wellness between Web2 and Web3 platforms. This testament to Live4Well’s demand and innovative vision solidifies their position as a promising leader in the industry. Their integration of the Olympic signifies their determination to inspire a global audience, leveraging blockchain technology to create an immersive ecosystem that revolutionizes how individuals engage with fitness on a daily basis for better health. Live4Well’s dedication to bridging the gap between traditional practices and the digital landscape sets them apart as pioneers in promoting well-being on a global scale.
What is Genesis NFT membership?
The Genesis NFT unlocks a multitude of benefits for holders, including the opportunity to cash out their sportive income and access a range of exclusive physical products and services. In addition to future airdrops and angel round whitelist privileges, Genesis holders will receive VIP tailor-made product packs from an innovative German sportswear company, elevating their exercise performance to new heights. With over 400 million sweat points farmed by their users, they are eager to redeem through the Genesis NFT membership. These enticing incentives explain why there was a widespread eagerness to participate in this thrilling event.
Unlike typical projects that raise funds before launching products or services, Live4Well has already released its AI-powered app, amassing over 250,000 users as a community base actively engaging in daily exercise. This early success has fostered a promising community within the wellness industry, as users trust Live4Well’s roadmap and collaborative ventures. The growing traction from both ordinary individuals and web3 enthusiasts has intensified the demand for redeeming and cashing out sweat points, the project’s exercise-based rewards. Obtaining the Genesis NFT membership is now seen as an essential step for accessing the highest tier of benefits and cashing out sportive income.
What’s next for Live4Well?
Following the Genesis sales, Live4Well’s team will shift their focus to the upcoming token generation event (TGE) and a series of farming events. They also have exciting plans for partnerships and other collaborations in the global wellness and fitness industries. If you missed the initial launch, be sure to stay updated on Live4Well’s journey and join this extraordinary revolution.
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Artificial Intelligence
Overseas Expansion Strategy of K-OTT Introduced in France, KOCCA holds the ‘2024 Korea-France Content Forum’
– The ‘Korea-France Content Forum’ held to establish the Foundation for K-OTT’s oversea expansion
PARIS, May 24, 2024 /PRNewswire/ — The Ministry of Culture, Sports and Tourism (Minister Yu In-chon) and the Korea Creative Content Agency (President, Jo Hyun-rae, hereafter KOCCA) held the ‘2024 Korea-France Content Forum’ on May 24th during the Korea Expo in Paris, France.
The ‘2024 Korea-France Content Forum’ featured a keynote session (K-OTT’s Strategies in Global market) presenting K-OTT’s strategies for international expansion and a roundtable session (Strategies in the Era of Streaming) discussing the growth of OTT platforms and collaborative approaches with production companies.
The forum featured participation from various industry leaders including Kun hee Park (CEO, Wavve Americas), Sangjin Lee (Head of content IP Business, LG U+), Seung ae Sohn (Executive Director, Showbox), Ji ae Sohn (Ambassador for Cultural Cooperation), Moonju Kim (General Director, France Business Center, KOCCA), Isabelle Degeorges (President, Gaumont Television France) which produced the French Netflix original series, participated.
Strategy announcement by Wavve Americas (KOCAWA), the first K-OTT’s launched in Europe
During the Keynote Session, Park Kun Hee – CEO of Wavve Americas, the first domestic OTT Platform to launch services in Europe, Took the stage to discuss the international expansion strategy of KOCOWA, which started offering services in 39 countries including Europe since April of this year. Following this, Lee Sangjin, Head of Content IP Business of LG U+, presented the expansion strategy of LG U+ Mobile TV, encompassing diverse original content.
During the round-table session, participants shared thoughts and solutions regarding the survival strategies of local OTT platforms and production companies amidst the rapid waves of change brought about by the emergence of global OTT platforms.
In particular, through this forum, we were able to observe the proactive implementation of IP protection policies by local production companies in France, aimed at sustainable content creation. Isabelle Degeorges, CEO of Gaumont Television France, noted, “With the introduction of the European Audiovisual Media Services Directive (AVMSD), platforms and production companies can share IPs three years after supplying the content.” Kim Moon-joo, Director of the Korea Creative Content Agency’s France Business Center, participated as a panelist, introducing policies aimed at enhancing the competitiveness of K-OTT and fostering collaboration with production companies.
Park Kun Hee, CEO of Wavve Americas, who participated in the event, stated, “It was a meaningful opportunity to introduce our platform locally in Europe in line with KOCOWA’s expansion into the region”. Additionally, Kyoungbon Koo, Director Broadcasting & Video Content Division at KOCCA commented, “It was a meaningful occasion to not only introduce K-OTT’s strategies to Europe but also to exchange ideas on collaboration between Korea and France. We will continue to focus on activating various forms of collaboration with major international partners in the future”.
KOCCA supports the overseas expansion of excellent domestic OTT content and platforms through the newly established Local OTT Specialized Support Program this year. This initiative aims to enhance the competitiveness of domestic OTT platforms and content by adapting to the changing industrial environment.
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Artificial Intelligence
IoT Node and Gateway Market worth $604.7 billion by 2029 – Exclusive Report by MarketsandMarkets™
CHICAGO, May 24, 2024 /PRNewswire/ — The IoT Node and Gateway market is projected to grow from USD 424.6 billion in 2024 and is estimated to reach USD 604.7 billion by 2029; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.3% from 2024 to 2029 according to a new report by MarketsandMarkets™. The growth of the IoT Node and Gateway market is driven by the Provision of increased IP address space through IPv6, Emergence of 5G technology, and Increasing need for data centers.
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Browse in-depth TOC on “IoT Node and Gateway Market”
410 – Tables70 – Figures390 – Pages
IoT Node and Gateway Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 424.6 billion
Estimated Value by 2029
$ 604.7 billion
Growth Rate
Poised to grow at a CAGR of 7.3%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Hardware, End-use Application and Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Requirement for wireless spectrum and licensed spectrum
Key Market Opportunities
Accelerated IoT adoption in healthcare sector
Key Market Drivers
Rising use of wireless smart sensors and networks
By Hardware, the Logic Devices are projected to grow at a high CAGR of IoT Node and Gateway market during the forecast period.
Logic devices can adapt to changing requirements even after deployment. As new features or functionalities are needed, the logic within the device can be reprogrammed to accommodate these changes, extending the useful life of the product and reducing the need for hardware revisions. The integration of FPGA technology into IoT devices further enhances these advantages. The integration of FPGAs into IoT nodes and gateways empowers manufacturers to develop highly optimized, customizable, and scalable solutions that meet the diverse needs of IoT applications. Tesla’s Full Self-Driving (FSD) computer utilizes FPGAs to handle complex neural network computations for autonomous driving algorithms. This allows them to potentially improve their FSD capabilities through software updates that reconfigure the logic within the FPGAs.
BFSI segment in IoT Node and Gateway Market is projected to grow at a highest CAGR during the forecast period.
BFSI sector can use IoT technology to provide more convenient solutions for customers. IoT can be used to perform data collection in real time and for instant communication between devices. For instance, it can facilitate cashless payments using an RFID scanner to identify products in the shopping cart and mobile wallet. The adoption of mobile point of sale (mPOS) systems and kiosks is fundamentally reshaping the landscape of the BFSI market. mPOS facilitates transactions anytime, anywhere, benefiting unbanked populations and enabling temporary service points for events. Kiosks offer convenient banking functionalities, reducing wait times and freeing up staff for complex inquiries. These technologies drive cost savings by requiring less investment and automating routine tasks, allowing resources to be reallocated strategically. They provide rich data for personalized services, fraud detection, and operational optimization. mPOS systems and kiosks promote financial inclusion by extending services to remote areas, fostering economic activity and well-being.
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North America accounts for the largest share in IoT Node and Gateway Industry.
The North American IoT market is poised to grow, driven by government efforts to transition cities into smart urban centers. The growing need for sophisticated IoT solutions, fueled by the widespread availability of high-speed data, will further propel market expansion in this region. Furthermore, North America’s dynamic IoT node and gateway ecosystem features established players like Intel Corporation (US), Texas Instruments Incorporated (US), Dell (US), and Cisco Systems (US), driving competition, innovation, and affordability. Increasing research and development at industry levels is broadening the application areas of IoT in various industries, such as retail, consumer electronics, automotive and transportation, and healthcare, especially in the US. The increased demand for effective solutions and focus on early, accurate, and fast diagnosis of diseases has led to huge investments in technological developments in the healthcare sector.
Key Players
Key companies operating in the IoT Node and Gateway companies are Intel Corporation (US), Qualcomm Technologies, Inc. (US), Texas Instruments Incorporated (US), STMicroelectronics (Switzerland), Microchip Technology Inc. (US), Huawei Technologies Co., Ltd. (China), NXP Semiconductors N.V. (Netherlands), Cisco Systems, Inc. (US), Hewlett Packard Enterprise Development LP (US), TE Connectivity Ltd (Switzerland), Advantech Co., Ltd. (Taiwan), Dell Technologies (US), among others.
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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
Related Reports:
IoT Technology Market by Node Component (Sensor, Memory Device, Connectivity IC, Processor, Logic Devices), Software Solution (Remote Monitoring, Data Management), Platform, Service, End-use Application, Geography – Global Forecast to 2029
Industrial IoT Market Size, Share & Industry Growth Analysis Report by Device & Technology, Connectivity Type, Software, Vertical (Manufacturing, Energy, Oil & Gas, Healthcare, Retail, Transportation, Metals & Mining, Agriculture), and Geography – Global Growth Driver and Industry Forecast to 2026
Internet of Robotic Things Market (IoRT) by Component (Sensor, Power, Control), Service (Professional, Managed), Platform (Device, Application, Network), Software (Analytics, Data, Security, Monitoring, Bandwidth), Application – Global Forecast to 2022
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