Highmark Interactive Inc. Reports Fiscal First Quarter 2022 Financial Results

TORONTO, ON / ACCESSWIRE / May 27, 2022 / Highmark Interactive Inc. (TSXV:HMRK) ("Highmark"), a global leader in digital health technologies, today reported its fiscal quarter end results for the three months ended March 31, 2022. All results are reported under International Financial Reporting Standards ("IFRS") and in Canadian dollars, unless otherwise specified.

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Key Highlights and Developments During Fiscal First Quarter 2022

On February 3, 2022 Highmark announced the roll-out of its EQ Remote Monitoring solution to US Orthopedic Alliance ("USOA"), an organization committed to delivering robust health information technologies and practice management resources to orthopedic-specific group practices, ambulatory surgery centers and specialty surgery hospitals. The EQ Remote Monitoring platform will enable the physician to monitor a patient before and after surgery and between clinical visits to inform and personalize the patient's treatment plan. Remote physiologic monitoring (RPM) is a recently added reimbursement code by Medicare in the United States. It enables physicians to add remote monitoring to their services to improve patient outcomes. The Highmark EQ Remote Monitoring platform is a mobile application downloaded to a patient's smart device. Highmark has continued to build on its strategic partnership with USOA. The evolution of the relationship has led to a robust sales pipeline. In addition, Highmark's direct to clinician (i.e. orthopedic surgical centers and medical offices) activities has added to the RPM pipeline, with the expectation being that Highmark will begin deployment before end of the second quarter of 2022.

Subsequent Developments

On May 19, 2022 Highmark announced further traction in the Canadian market for its EQ and BrainFx assessment platform through their adoption by sport and neurorehabilitation clinics. In addition to the Company expanding its footprint in the Ottawa region amateur sports leagues, Highmark was added to the preferred provider networks of several disability management firms including Acclaim Ability Management, a national provider of disability management services, and Organizational Solutions Inc.. In addition, Highmark has continued to leverage the Highmark assessment suite to differentiate its services in the neurorehabilitation market and this year to date had received more than CAD$260,000 in new clinical services referrals that will be delivered over the course of 2022. This technology-enabled model of care facilitates not only new growth within Highmark itself but serves as the model for adoption by other neurorehabilitation services.