Skylight Health Provides Clinical Research Update
29 April 2022 - 9:00PM
Skylight Health Group Inc. (NASDAQ:SLHG;TSXV:SLHG (“Skylight
Health” or the “Company”), a multi-state primary care management
group in the United States, today provides an update on the status
of the Company’s research program; Skylight Health Research.
- In April 2021, Skylight Health
Research announced its partnership with ClinEdge to launch formal
clinical research studies into its practices;
- Since inception, Skylight Health
Research has been awarded ten (10) clinical studies and has
completed two (2) to-date;
- Total revenue earned through
clinical studies in 2021, $300,000, has already been surpassed in
2022, and is expected to quadruple by the end of this year;
- The progress since its launch
demonstrates incredible momentum and steady growth of its research
program which will continue throughout 2022 and beyond.
In 2021, Skylight Health leveraged its growing
clinical services division and launched Skylight Health Research,
which has since been awarded ten clinical studies through its
partnership with ClinEdge, announced on April 7, 2021. Skylight
Health Research has since made several other key partnerships with
research partners and Contract Research Organizations that will
bring a steady supply of study opportunities to Skylight Health
practices.
All potential study opportunities are reviewed
by the research team to assess feasibility based on existing
infrastructure and alignment with the goal of Skylight Health
Research, to meaningfully contribute to the advancement of medical
science with Skylight’s deep base of experienced providers and
engaged patients. The ten studies awarded range in indication and
methodology and will each provide important contributions to
evidence-based medicine including advancing knowledge of COVID-19,
influenza patterns, cancer detection, major depressive disorder,
and Lyme disease.
In less than a year, Skylight Health Research
practices have enrolled more than 1000 patients across five
studies, and two Skylight Health sites were among the top
performing sites in a highly competitive study that collected blood
samples for the development of a cancer-detecting blood assay. The
five additional studies that have been awarded are expected to
begin enrollment within Q2 of this year.
“We are proud to have seen our research arm
experience such rapid and enduring growth in such a short period of
time,” said Prad Sekar, CEO of Skylight Health. “The power of our
growing patient base to further contribute to the betterment of US
healthcare through research studies is proof that we are just
scratching the surface of Skylight’s ability to contribute to the
market as a whole.”
The program has gained incredible momentum and
demonstrated the reach and efficiency provided by the centrally
organized research team, allowing for quick start-up at multiple
Skylight-owned practices to bolster Skylight’s research
applications in a competitive market. The program has grown from a
single practice participating in research at the beginning of 2021
to five practices that will have active research initiatives by the
end of Q2 2022, furthering opportunities and access to new patient
populations.
About Skylight Health Group
Skylight Health Group (NASDAQ:SLHG;TSXV:SLHG) is
a healthcare services and technology company, working to positively
impact patient health outcomes. The Company operates a US
multi-state primary care health network comprised of physical
practices providing a range of services from primary care,
sub-specialty, allied health, and laboratory/diagnostic testing.
The Company is focused on helping small and independent practices
shift from a traditional fee-for-service (FFS) model to value-based
care (VBC) through tools including proprietary technology, data
analytics and infrastructure. In an FFS model, payors (commercial
and government insurers) reimburse on an encounter-based approach.
This puts a focus on volume of patients per day. In a VBC model,
the providers offer care that is aimed at keeping patients healthy
and minimize unnecessary health expenditures that are not proven to
maintain the patient’s well-being. This places an emphasis on
quality over volume. VBC will lead to improved patient outcomes,
reduced cost of delivery and drive stronger financial performance
from existing practices.
Forward Looking Statements
This press release may include predictions,
estimates or other information that might be considered
forward-looking within the meaning of applicable securities laws.
While these forward-looking statements represent our current
judgments, they are subject to risks and uncertainties that could
cause actual results to differ materially. You are cautioned not to
place undue reliance on these forward-looking statements, which
reflect our opinions only as of the date of this release. Please
keep in mind that we are not obligating ourselves to revise or
publicly release the results of any revision to these
forward-looking statements in light of new information or future
events. When used herein, words such as "look forward," "believe,"
"continue," "building," or variations of such words and similar
expressions are intended to identify forward-looking statements.
Factors that could cause actual results to differ materially from
those contemplated in any forward-looking statements made by us
herein are often discussed in filings we make with the Canadian and
United States securities regulators, including the Securities and
Exchange Commission, available at: www.sec.gov, and Canadian
Securities Administrators, available at www.sedar.com, and on
our website, at skylighthealthgroup.com.
For more information, please visit our website or contact:
Investor Relations:Jackie
Kellyinvestors@skylighthealthgroup.com416-301-2949
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Skylight Health (TSXV:SLHG)
Historical Stock Chart
From Jun 2024 to Jul 2024
Skylight Health (TSXV:SLHG)
Historical Stock Chart
From Jul 2023 to Jul 2024