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Major Retailers Continue Betting on Booming Telehealth Market

FN Media Group Presents Market Commentary


New York, NY – November 18, 2021 – Telehealth investments are on the rise, with total funding already surpassing $20 billion in 2021, and may continue to grow as more companies look to meet a potential growing demand for home-based and remote patient care. Best Buy (NYSE:BBY) is the latest retailer to expand further into telehealth after striking a deal to acquire Current Health, a remote patient monitoring platform. Best Buy isn’t the only company looking to grow its stake in the growing market. Companies like Mednow Inc. (TSXV:MNOW) (OTCQB:MDNWF), American Well Corp (Amwell) (NYSE:AMWL), McKesson Corporation (NYSE:MCK), and Hims & Hers Health Inc. (NYSE:HIMS) are all positioning themselves with solutions and deals that not only expand their reach but also facilitate delivery of high-quality healthcare to patients.


Virtual pharmacy and telehealth provider Mednow Inc. (TSXV:MNOW) (OTCQB:MDNWF) has continued to increase its share of the digital healthcare market through strategic acquisitions. On November 15, the company gained entry to the specialty pharmacy market through the acquisition of Infusicare Canada and its wholly-owned subsidiary The Arva Clinic, a specialty pharmacy in Ontario that offers comprehensive support for patients receiving biologic for rheumatoid arthritis and other specialty medications. As disclosed in the press release,Infusicare had annual revenue of approximately $9 million and annual gross profit of approximately $400,000 for the year ended July 31, 2021 (Past performance is not indicative of future results).


“The anticipated acquisition of Infusicare is right in our wheelhouse, leveraging Mednow’s expertise in pharmacy. Upon receiving TSX Venture Exchange approval to close the transcation, we will integrate Infusicare’s operations, The Arva Clinic’s patient base is expected to benefit from Mednow’s digital customer service infrastructure,” said Karim Nassar, CEO of Mednow. “The anticipated benefit for Mednow is that upon closing, the company is expected to gain a historically solid revenue and profitability base, and add specialty pharmacy services to its wide range of digital healthcare services.”


Mednow also recently completed the acquisition of Mednow Pharmacy Inc., an online pharmacy that delivers prescriptions in the province of British Columbia. The two companies will consolidate their revenues and expenses and terminate the pharmacy agreement they had.


We are executing on our plan for a national presence across Canada and we are thrilled to be consolidating Mednow Pharmacy Inc. under our platform. As we add service to our digital-first healthcare platform, we are also simultaneously working to expand our geographical reach to become a household name in Canadian healthcare,” said Mednow’s CEO Karim Nassar.


Acquisitions have been a significant part of Mednow’s strategy as highlighted in its Q4 2021 financial results. During the quarter, the company closed the acquisition of Medvist, a Canadian doctor house call service that completed more than 30,000 calls annually. The acquisition brings significant potential for Mednow, as Medvisit has served more than 400,000 patients since its inception and earned revenue of approximately $3  million and a gross profit of approximately $790,000 in its latest fiscal year (Past performance is not indicative of future results).


During the fourth quarter, Mednow also launched Mednow Virtual Care, a proprietary telemedicine platform available for iPhone and Android users that offers both pharmacy services and virtual physician consultations


To learn more about Mednow Inc. (TSXV:MNOW) (OTC:MDNWF), click here.


Telehealth Presents Massive Growth Opportunity


Retail giant Best Buy (NYSE:BBY) is expanding its foray into the rapidly growing telehealth sector with the acquisition of UK-based Current Health. Current Health is a leader in remote care management technology offering telehealth, remote patient monitoring, and patient engagement solutions for healthcare companies. The combination of Current Health’s solution with its existing healthcare offerings will allow Best Buy to create a holistic home-based care ecosystem. Best Buy, which already owns two healthcare companies, sees a significant growth opportunity in the telehealth sector, thus the agreement to acquire Current Health to further its impact in the sector.


Telehealth leader American Well Corp (Amwell) (NYSE:AMWL) announced the availability of its Converge Virtual Care Platform with an additional EHR integration capability. The platform is designed to provide a scalable, unified and simple digital care delivery experience. The platform has been named the Best New Application in Telehealth by UCSF. Such recognition marks an important step for Amwell as its platform continues to be recognized as a leader by clients and the industry at large. The platform has also received recognition as Flagship Vendor in Omnichannel Functionality and Tech Top 50 Honoree.


While Amwell is winning awards for its telehealth platform, Health Mart, a business of McKesson Corporation (NYSE:MCK) released the Health Mart Digital Portfolio in collaboration with Tabula Rasa Healthcare. The Health Mart Digital Portfolio Tabula Rasa HealthCare’s Prescribe Wellness will power the Health Mart Digital Portfolio to provide pharmacies with new digital tools and services. Among these tools and services are a consumer web portal, a mobile application, pharmacists training, customer support, and concierge marketing services.


Multispecialty telehealth platform Hims & Hers Health, Inc. (NYSE:HIMS) announced a partnership with The Vitamin Shoppe to expand the availability of its personal care offerings online and in more than 280 store locations of The Vitamin Shoppe. Through the new partnership, Hims & Hers customers can access a variety of healthcare solutions. The company could also expand the offerings offered at various Shoppe locations.


Telehealth is a market ripe for innovative investments for companies such as Mednow as digital transformation continues to change the healthcare landscape.


PAID ADVERTISEMENT.  This communication is a paid advertisement for Mednow Inc. (“Mednow” or the “Company”) to enhance public awareness of the Company, its products, its industry and as a potential investment opportunity.  NativeAds, Inc. (“NativeAds”) and its owners, managers, employees, and assigns were paid by the Company to create, produce and distribute this advertisement, as previously disclosed in the news release of the Company dated March 12, 2021.  This compensation should be viewed as a major conflict with NativeAds’ ability to be unbiased.


This communication is not intended as, and should not be construed to be, an offer to sell or a solicitation of an offer to buy any security. Neither this communication nor the Company purport to provide a complete analysis of the Company or its financial position. The Company is not, and does not purport to be, a broker-dealer or registered investment adviser. This communication is not, and should not be construed to be, personalized investment advice directed to or appropriate for any particular investor. Any investment should be made only after consulting a professional investment advisor and only after reviewing the financial statements and other pertinent corporate information about the Company. Further, readers are advised to read and carefully consider the Risk Factors identified and discussed in the profiled company’s SEDAR and/or other government filings. Investing in securities, particularly microcap securities, is speculative and carries a high degree of risk.


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FORWARD-LOOKING STATEMENTS.  This communication includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws, including statements regarding the timing of operations beginning in Manitoba, Saskatchewan and Nova Scotia, receipt of all required regulatory approvals from the Manitoba College of Pharmacists, the Nova Scotia College of Pharmacists and other regulatory bodies with oversight of pharmacy practices, the ability to service clients in Saskatchewan and Manitoba from the Manitoba fulfillment centre, the ability to service clients in Nova Scotia from the Nova Scotia fulfillment centre and the benefits of a national presence. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends,” “anticipates,” “it is expected,” or variations of such words and phrases, or statements that certain actions, events or results “may,” “could,” “should,” or “would” occur. Forward-looking statements are based on certain material assumptions and analyses made by management of the Company and the opinions and estimates of management of the Company as of the date of this communication, including that the transactions contemplated herein will close on the terms and timeline as anticipated by the management of the Company and that the Company will receive all required regulatory approvals. Although the Company considers these assumptions to be reasonable based on information currently available to them, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors may include, among others, the risk that the transactions contemplated herein will not close on the terms and timeline as anticipated by the management of the Company, or at all, the risk that the Company will not receive required regulatory approvals and the other risks and uncertainties applicable to the Company and the business of the Company as set forth in the Company’s final long form prospectus dated February 26, 2021 and its other disclosure available under the Company’s profile at There can be no assurance that the transactions contemplated in this communication will complete. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations. We seek safe harbor.


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Disclaimer: (MSC) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with MSC or any company mentioned herein. The commentary, views and opinions expressed in this release by MSC are solely those of MSC and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable MSC and FNM for any investment decisions by their readers or subscribers. MSC and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.


The Article and content related to the profiled company represent the personal and subjective views of the Author (MSC), and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author (MSC) has not independently verified or otherwise investigated all such information. None of the Author, MSC, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment. FNM was not compensated by any public company mentioned herein to disseminate this press release but was compensated twenty five hundred dollars by MSC, a non-affiliated third party to distribute this release on behalf of Mednow Inc.    FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.


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