LocWolf
4 weeks ago
HealthLynked Announces Fourth Quarter and Full Year 2023 Results Highlighted by 70% Reduction in Net Loss for Q4
NAPLES, FL -- April 2, 2024 -- InvestorsHub NewsWire -- HealthLynked Corp. (OTCQB: HLYK), a leader in healthcare networking and technological innovation, announced its financial results for the fourth quarter and full year ended December 31, 2023. With strategic advancements and its focus on core healthcare technologies and networking capabilities, HealthLynked achieved a significant 70% reduction in net loss for the fourth quarter, highlighting a period of fiscal management and strategic positioning for future growth.
Full Year 2023 Financial Results
Strategic Focus and Technological Innovations Pave the Way for an Optimistic Outlook: HealthLynked reported a modest 2% revenue decrease to $5.72 million, attributed in part to the retirement of, and contracts ending for, certain key physicians and the onboarding phase of new physicians at several clinical sites. Despite these temporary staffing adjustments, HealthLynked's strategic direction and the release of the new pay app version 3.2.0 quartering first quarter 2024 create a new opportunity for core revenue growth. The forthcoming integration of ARI, our AI-driven healthcare guide, into the newly released HealthLynked app represents a pivotal stride towards leveraging technology to enhance our healthcare network's effectiveness.
Operational Efficiency through Key Enhancements: Optimization of operational expenses led to a 52% cut in operational losses, demonstrating HealthLynked's commitment to financial stewardship and operational efficiency. Strategic restructuring resulted in a 19% reduction in operating expenses. Exclusive of impairment charges, the operational loss declined by 35%. Our targeted efforts to refine operations and strategically invest in our healthcare network and technology capabilities have poised us for sustainable growth and a solid financial footing.
Solid Financial Health from Strategic Divestiture: The strategic sale of ACO Health Partners, alongside the gains realized from this initiative, contributed significantly to our financial restructuring, bringing in $3.76 million. This move underscores our focus on our core competencies in healthcare networking and technological innovation, significantly bolstering our liquidity and financial resilience.
Dramatic Net Loss Reduction: A significant decrease in net loss to $1.01 million in 2023 from $8.82 million in 2022 illustrates the positive impact of our strategic divestitures, operational efficiencies, and profit stabilization despite temporary staffing changes. The integration of cutting-edge technologies and our strategic focus creates a path forward of continued growth and operational improvement.
Fourth Quarter 2023 Financial Results
Revenue Commitment to Core Technologies Following Staffing Transition: Revenue declined to $0.93 million in Q4 2023, primarily as a result of temporary physician staffing adjustments along with associated physician pay. This new baseline in cost prepares HLYK for improved profitability in the second half of 2024 with an expected operating profit by the end of the fiscal year. The introduction of our new pay app version 3.2.0 is indicative of our focus on achieving profitability and technological leadership in the healthcare sector by the end of 2024.
Strategic Initiatives Lead to Reduced Operating Loss: A 73% reduction in operating loss to $1.11 million in Q4 2023, demonstrating our resilience and strategic focus during a period of staffing transition. Exclusive of a $2.75 million Q4 2022 impairment charge, the operating loss decline was 21%. This underscores our commitment to operational efficiency and financial health.
Substantial Improvement to Net Loss Reflects Strategic Strength: A 70% reduction in net loss to $1.29 million in Q4 2023, underscores the effectiveness of our strategic initiatives, showcasing our adaptability and commitment to navigating towards long-term financial sustainability and growth.
Executive Insights
Dr. Michael Dent, CEO of HealthLynked, stated, "The recent launch of our pay app version 3.2.1 and the forthcoming integration of ARI mark significant milestones in our mission to transform healthcare delivery and drive additional revenues. Despite temporary staffing transitions, our focus on our core healthcare network and technological innovations positions us for substantial growth and profitability. We continue to grow our user base while integrating technology that improves patient care and the efficient exchange of medical information between doctors and patients."
George O'Leary, CFO of HealthLynked, added, "Our strategic decisions throughout 2023 have laid a solid groundwork for growth. By concentrating on our core technologies and healthcare network, HealthLynked is poised to advance more profitably, continuing to innovate and lead in the healthcare sector."
HealthLynked's dedication to driving healthcare innovation through strategic focus and technological advancement remains strong. We are grateful for the continued support of our investors and stakeholders as we navigate these transitions and stride towards a future marked by growth, innovation, and enhanced healthcare outcomes.
About HealthLynked
HealthLynked Corp. is dedicated to improving global community health. Our mission unfolds in two pivotal goals: First, to transform healthcare into a system marked by enhanced efficiency and improved care for all, leveraging cutting-edge technology and connectivity. Second, to forge a patient-centric network that not only places patients at the heart of their healthcare journey but also mobilizes their participation to accelerate medical discoveries and the development of cures for diseases that impact humanity. This pioneering model empowers individuals with unparalleled access to and control over their medical information, fostering a collaborative environment where every patient contribution can spearhead breakthroughs in health and wellness. Through these concerted efforts, we aim to secure a healthier future for generations to come.
At the heart of our endeavors is the HealthLynked Network, a sophisticated, cloud-based platform designed to facilitate the seamless exchange of medical information among patients and healthcare providers. By centralizing and securing medical data โ including medications, allergies, past surgeries, and personal health records โ our members are empowered to take an active role in managing their healthcare with unparalleled ease and efficiency.
HealthLynked is a beacon for healthcare providers, offering an ecosystem that enhances patient care through improved communication and access to critical health information. Our network fosters an environment where providers can gain valuable insights into practice operations, enhancing patient compliance and optimizing scheduling. Providers are encouraged to join our network by claiming their profiles, thereby accessing HealthLynked's suite of marketing tools designed to foster meaningful engagements with patients.
A cornerstone of our philosophy is the ethical management of healthcare data. HealthLynked does not sell any healthcare data, ensuring the privacy and security of our members' information at all times.
We invite you to join us in this journey towards a healthier future. Download the HealthLynked app today, available on both Android and Apple devices, and take the first step in taking control of your healthcare.
For more information about HealthLynked Corp., including details on how to become a part of our growing community, please visit our website at www.healthlynked.com.
Download for Apple
Download for Android
Together, we are paving the way for a future where healthcare is more accessible, efficient, and interconnected than ever before. Welcome to the next generation of healthcare. Welcome to HealthLynked.
For more about HealthLynked Corp., please visit www.healthlynked.com. Stay connected with HealthLynked on Twitter, Facebook, Instagram, and LinkedIn.
Forward-Looking Statements & Risk Factors
Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Our actual results, including as a result of any acquisitions, performance, or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by our management, and us are inherently uncertain. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. Certain risks and uncertainties applicable to our operations and us are described in the "Risk Factors" section of our most recent Annual Report on Form 10-K and in other filings we have made with the U.S. Securities and Exchange Commission. These reports are publicly available at www.sec.gov.
For further information, please contact:
HealthLynked Corp
Public Relations
Email: pr@healthlynked.com
Investor Relations:
Michael Paisan, Director of Investor Relations
Phone: 1-800-928-7144, ext 123
Website: www.healthlynked.com
HealthLynked Corp.
Selected Consolidated Financial Data
Year and Quarter Ended December 31, 2023, and 2022
https://ih.advfn.com/stock-market/USOTC/healthlynked-qb-HLYK/stock-news/93589555/healthlynked-announces-fourth-quarter-and-full-year
LocWolf
1 month ago
HealthLynked Announces Exciting New Update with HealthLynked 3.2.0 - Transforming Patient-Care Through Innovation
Naples, FL -- March 26, 2024 -- InvestorsHub NewsWire -- HealthLynked Corp. (OTCQB: HLYK) , a pioneering healthcare network focused on enhancing the efficiency and quality of patient care, is thrilled to announce the launch of its latest app update, HealthLynked 3.2.0. This significant update introduces a suite of new features and improvements designed to revolutionize the way individuals and families manage their healthcare journey.
What's New in HealthLynked 3.2.0?
New Monthly Subscription Plan: Responding to user feedback, HealthLynked introduces a flexible Monthly plan, allowing users to access premium features with greater ease.
First Concierge Appointment Free: New and existing users can enjoy their first Concierge appointment through the app at no cost, providing a risk-free way to experience the benefits of HealthLynked.
Unlimited Storage for Premium Members: Premium users will now benefit from unlimited storage, ensuring that all your health data is securely stored and easily accessible.
Family Member Profiles: Users can now connect with family members to their account, making it easier than ever to manage the health of loved ones.
Health Journal Organization: Keep track of your health journey with an organized health journal, making it easier to monitor progress and health patterns.
Child Profile Creation: The app now allows for the creation of child profiles for individuals under 18, ensuring that the whole family's health is managed seamlessly.
Simplified Doctor Appointments: Booking doctor appointments has been made simpler, with an intuitive interface that makes managing your health care a breeze.
Performance Improvements: Ensuring a smooth and reliable user experience, the latest version includes numerous performance enhancements.
A New Approach to Membership
In a shift from the traditional 30-day free trial requiring a credit card, HealthLynked has introduced a free version of the app. Users can upgrade to a paid membership at any time, choosing between two flexible options: a $12/month plan that can be canceled at any time, or an annual plan at $120, offering a 17% discount off the monthly rate. This new structure ensures that everyone has access to high-quality healthcare management tools, with the option to upgrade for additional premium features like unlimited data storage and the ability to connect to unlimited family members.
Innovation at the Heart of HealthLynked
Chris Hall, Chief Technology Officer at HealthLynked, shares his excitement about the latest release: "We are constantly pushing the boundaries of what's possible in healthcare technology. With HealthLynked 3.2.0, we've taken a significant leap forward, not only in terms of the app's functionality but also in how we engage with our users. Moving to a free version of the app underscores our commitment to accessibility, ensuring that more people can benefit from our platform without upfront costs. It's about putting the power of health management back in the hands of individuals and families, in the most user-friendly way possible."
Dedicated to Innovation and Accessibility
"HealthLynked is committed to improving healthcare access and management for everyone," said Dr. Michael Dent, CEO of HealthLynked. "With the launch of HealthLynked 3.2.0, we're not just introducing new features; we're transforming the way patients and doctors connect and manage health. Our new membership model is a testament to our commitment to making healthcare more accessible and flexible for our users."
Availability
HealthLynked 3.2.0 is available now. To learn more about HealthLynked and to download the app, visit HealthLynked's website or find it in your app store.
About HealthLynked
HealthLynked Corp. is dedicated to improving global community health. Our mission unfolds in two pivotal goals: First, to transform healthcare into a system marked by enhanced efficiency and improved care for all, leveraging cutting-edge technology and connectivity. Second, to forge a patient-centric network that not only places patients at the heart of their healthcare journey but also mobilizes their participation to accelerate medical discoveries and the development of cures for diseases that impact humanity. This pioneering model empowers individuals with unparalleled access to and control over their medical information, fostering a collaborative environment where every patient contribution can spearhead breakthroughs in health and wellness. Through these concerted efforts, we aim to secure a healthier future for generations to come.
At the heart of our endeavors is the HealthLynked Network, a sophisticated, cloud-based platform designed to facilitate the seamless exchange of medical information among patients and healthcare providers. By centralizing and securing medical data โ including medications, allergies, past surgeries, and personal health records โ our members are empowered to take an active role in managing their healthcare with unparalleled ease and efficiency.
HealthLynked is a beacon for healthcare providers, offering an ecosystem that enhances patient care through improved communication and access to critical health information. Our network fosters an environment where providers can gain valuable insights into practice operations, enhancing patient compliance and optimizing scheduling. Providers are encouraged to join our network by claiming their profiles, thereby accessing HealthLynkedโs suite of marketing tools designed to foster meaningful engagements with patients.
A cornerstone of our philosophy is the ethical management of healthcare data. HealthLynked does not sell any healthcare data, ensuring the privacy and security of our membersโ information at all times.
We invite you to join us in this journey towards a healthier future. Download the HealthLynked app today, available on both Android and Apple devices, and take the first step in taking control of your healthcare.
For more information about HealthLynked Corp., including details on how to become a part of our growing community, please visit our website at www.healthlynked.com.
Download for Apple
Download for Android
Together, we are paving the way for a future where healthcare is more accessible, efficient, and interconnected than ever before. Welcome to the next generation of healthcare. Welcome to HealthLynked.
For more about HealthLynked Corp., please visit www.healthlynked.com. Stay connected with HealthLynked on Twitter, Facebook, Instagram, and LinkedIn.
For further information, please contact:
HealthLynked Corp
Public Relations
Email: pr@healthlynked.com
Investor Relations:
Michael Paisan, Director of Investor Relations
Phone: 1-800-928-7144, ext 123
Website: www.healthlynked.com
LocWolf
1 month ago
HealthLynked Corp Announces Chris Hall as New Chief Technology Officer
Naples, FL -- March 19, 2024 -- InvestorsHub NewsWire -- HealthLynked Corp (OTCQB: HLYK), a leader in healthcare technology innovation, is excited to announce Chris Hall as the new Chief Technology Officer (CTO). Chris brings a wealth of experience in technology and product development, marked by his leadership in launching over 100 products and managing diverse, global teams. His strategic foresight and technological prowess have been successfully demonstrated across various roles, making significant impacts in product development and commercialization.
Before his appointment at HealthLynked, Chris worked at Battelle as a Sr. Product Portfolio Manager and at HF Scientific as the Manager of New Product Development after spending nearly two decades working for Siemens and their affiliates developing cutting edge technologies for the global market. His leadership in these roles led to substantial sales growth and the adoption of agile methodologies, enhancing product development processes and operational efficiency. His demonstrated success in these endeavors should have a positive impact on HealthLynked's network growth strategy in the years to come.
Notably, Chris has been responsible for over a dozen patents across multiple technologies, showcasing his inventive spirit and contribution to technological advancement in various sectors.
Chris holds an MBA from Western Governor's University and a B.Sc. in Chemical Engineering from Colorado State University. He is also a certified Project Management Professional (PMP), with expertise in regulatory compliance, budgeting, financial analysis, and agile project management.
In his role at HealthLynked, Chris will oversee the company's technology strategy, focusing on the development and coordination of innovative healthcare solutions. He will manage and synchronize the development processes between HealthLynked's USA and Indian development teams, crucial for the seamless execution of crucial projects like ARI, HealthLynked's personalized AI healthcare guide. ARI aims to revolutionize patient care by offering tailored health guidance that will be a major factor in distinguishing Healthlynked's app in the marketplace.
Dr. Michael Dent, CEO of HealthLynked, expressed his enthusiasm about Chris's appointment: "Chris joining us marks a transformative step forward. His leadership in managing our global teams, especially in the development of innovative projects like ARI, is invaluable. His track record of securing patents and pushing technological boundaries aligns perfectly with our mission."
Chris Hall commented on his new role: "I'm truly impressed by HealthLynked's vision to enhance healthcare globally, focusing on efficiency and patient-centered care. It's an honor to be part of a team that not only values innovation but actively works to make a real difference. I'm eager to leverage my experience and the patents I've been involved with to contribute to our mission of transforming healthcare through advanced technology."
Chris Hall's appointment reflects HealthLynked's commitment to excellence and innovation in healthcare technology. The company looks forward to the advancements and improvements Chris will bring, aiming to enhance healthcare delivery and patient outcomes worldwide.
About HealthLynked
HealthLynked Corp. is dedicated to enhancing healthcare by facilitating the efficient exchange of medical information between patients and providers. Our cloud based HealthLynked Network empowers members to actively manage their healthcare, providing a centralized and secure location for their medical data, including medications, allergies, past surgeries, and personal health records.
Healthcare providers in our network benefit from improved patient care and key insights into their practice operations. Additionally, our preferred providers can leverage HealthLynked's marketing tools to engage both patients, ensuring better patient compliance and optimized scheduling. To avail these services, providers need to claim their profiles and complete the necessary steps to become an in-network provider.
For more about HealthLynked Corp., please visit www.healthlynked.com. Stay connected with HealthLynked on Facebook, Twitter, Instagram, and LinkedIn.
Forward-Looking Statements & Risk Factors
This press release contains forward-looking statements that are not based on historical facts. These statements, as defined by the Private Securities Litigation Reform Act of 1995, may differ from actual results, performance, or achievements. Forward-looking statements involve inherent risks and uncertainties. We advise against placing undue reliance on these statements, which are current only as of the date of this press release.
We are not obligated to publicly update any forward-looking statements unless required by law. Any updates should not be interpreted as an indication of additional updates on the same or other topics. For a detailed understanding of the risks and uncertainties related to our operations, please refer to the "Risk Factors" in our latest Annual Report on Form 10-K and other filings with the U.S. Securities and Exchange Commission, available at www.sec.gov.
HLYK Contact:
Mike Paisan
Director of Investor Relations
IR@healthlynked.com
+1 (800)-928-7144, ext. 123
https://ih.advfn.com/stock-market/USOTC/healthlynked-qb-HLYK/stock-news/93513560/healthlynked-corp-announces-chris-hall-as-new-chie
LocWolf
3 months ago
HealthLynked and CEO Dr. Michael Dent Featured in Health Documentary "Forever: The End of Aging," Now Available for Streaming
NAPLES, FL -- January 24, 2024 -- InvestorsHub NewsWire -- HealthLynked Corp. (OTCQB: HLYK), a global healthcare network focused on improving healthcare outcomes through technology, proudly announces the release of the health documentary "Forever: The End of Aging" on Prime Video. Directed by Paul Castro, acclaimed writer of the blockbuster movie "August Rush," this groundbreaking film features HealthLynked and its CEO, Dr. Michael Dent, offering a compelling look at the future of healthcare and the revolutionary role of AI and technology in medical advancements.
Joining Dr. Dent is an esteemed lineup of over 15 medical experts, including Dr. David Perlmutter, a five-time New York Times bestselling author recognized for his insights into neurological health and nutrition. The documentary explores cutting-edge healthcare solutions such as gene therapy, medical information exchange, and the transformative potential of AI in healthcare.
"Forever: The End of Aging," aligned with HealthLynked's mission of driving improved outcomes for all healthcare stakeholders, bridges the gap in healthcare through efficient medical information exchange. Dr. Michael Dent's participation in the film underscores HealthLynked's commitment to leveraging advanced technologies, including AI, to enhance patient care and outcomes, positioning the company at the forefront of the healthcare revolution.
Watch the Film: Prime Video US - Forever: The End of Aging
https://www.amazon.com/forever-aging-David-Perlmutter-M-D/dp/B0CQ3283V3/ref=sr_1_4?crid=14VPIVGYL5N04&keywords=forever+the+end+of+aging&qid=1706035167&sprefix=forever+the+end+of+aging%2Caps%2C122&sr=8-4
Prime Video UK - Forever: The End of Aging
https://www.amazon.co.uk/forever-aging-David-Perlmutter-M-D/dp/B0CQ2ZR1T2/ref=sr_1_6?crid=EQYQG65HBO3Q&keywords=forever+the+end+of+aging&qid=1706035917&sprefix=%2Caps%2C136&sr=8-6
About HealthLynked
HealthLynked Corp. is dedicated to enhancing healthcare by facilitating the efficient exchange of medical information between patients and providers. Our cloud based HealthLynked Network empowers members to actively manage their healthcare, providing a centralized and secure location for their medical data, including medications, allergies, past surgeries, and personal health records.
Healthcare providers in our network benefit from improved patient care and key insights into their practice operations. Additionally, our preferred providers can leverage HealthLynked's marketing tools to engage both patients, ensuring better patient compliance and optimized scheduling. To avail these services, providers need to claim their profiles and complete the necessary steps to become an in-network provider.
For more about HealthLynked Corp., please visit www.healthlynked.com. Stay connected with HealthLynked on Facebook, Twitter, Instagram, and LinkedIn.
Forward-Looking Statements & Risk Factors
This press release contains forward-looking statements that are not based on historical facts. These statements, as defined by the Private Securities Litigation Reform Act of 1995, may differ from actual results, performance, or achievements. Forward-looking statements involve inherent risks and uncertainties. We advise against placing undue reliance on these statements, which are current only as of the date of this press release.
We are not obligated to publicly update any forward-looking statements unless required by law. Any updates should not be interpreted as an indication of additional updates on the same or other topics. For a detailed understanding of the risks and uncertainties related to our operations, please refer to the "Risk Factors" in our latest Annual Report on Form 10-K and other filings with the U.S. Securities and Exchange Commission, available at www.sec.gov.
HLYK Contact:
Mike Paisan
Director of Investor Relations
IR@healthlynked.com
+1 (800)-928-7144, ext. 123
https://ih.advfn.com/stock-market/USOTC/healthlynked-qb-HLYK/stock-news/93125988/healthlynked-and-ceo-dr-michael-dent-featured-in