Multi-Year Contract Brings Total New Orders
Received by Carebook Over Last Seven Months to $6.4 Million
MONTREAL, June 15,
2022 /CNW Telbec/ - Carebook Technologies Inc.
("Carebook" or the "Company") (TSXV: CRBK) (OTCPK:
CRBKF) (XFRA: PMM1) a leading Canadian provider of innovative
digital health solutions confirmed today that CoreHealth, its
wholly owned subsidiary received its largest single contract ever
from a U.S. based global leader in employee benefits. The
$2.9 million multi-year contract,
signed on May 27th 2022,
brings total new orders received by Carebook over the last seven
months to $6.4 million. These
contracts, from a diverse base of clients located in the U.S and
Canada, provide confirmation of
the success of Carebook's strategy and renewed focus on the
fast-growing employer vertical.
CoreHealth offers employers, group benefits providers, and
corporate wellness providers industry leading platform-as-a-service
technology that powers the delivery of employee health and wellness
programs; engaging employees with various interventions like
coaching, self-directed programs, group challenges, and habit
trackers. The platform offers over 30 distinct services in the form
of APIs including scheduling, teleconferencing, questionnaires,
content feeds, messaging and more.
"This contract represents a distinct win for Carebook,"
commented Michael Peters, Carebook
CEO. "Our new client is a leader in employee benefits and offers
services to more than one million plan participants. The contract
contemplates the migration of all plan participants to the
CoreHealth platform over the next 36 months. CoreHealth's solution
was selected after a competitive process because of the phenomenal
capabilities of its technology to offer flexible, configurable, and
scalable solutions that are above all easy to integrate. This new
contract, CoreHealth's largest single contract ever, is a clear
endorsement of our unmatched ability to seamlessly connect
employees to a host of comprehensive health and wellness solutions.
About Carebook
Technologies
Carebook's digital health platform empowers its clients and more
than 3.5 million members to take control of their health journey.
During 2021, the Company completed the acquisitions of InfoTech
Inc., a global leader in health and productivity risk management,
and CoreHealth Technologies Inc., owner of an industry-leading
wellness platform. In combination, these companies create a
comprehensive digital health platform that includes both assessment
tools and the technology to deliver complementary solutions.
Carebook's shares trade on the TSXV under the symbol "CRBK," on the
OTC Markets under the symbol "CRBKF," and are listed on the Open
Market of the Frankfurt Stock Exchange under the symbol "PMM1."
www.carebook.com
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Notice regarding forward-looking
statements:
This release includes forward-looking information and
forward-looking statements within the meaning of Canadian
securities laws regarding Carebook, its subsidiaries and their
business. Often, but not always, forward-looking information can be
identified by the use of words such as "plans", "is expected",
"expects", "scheduled", "intends", "contemplates", "anticipates",
"believes", "proposes" or variations (including negative
variations) of such words and phrases, or state that certain
actions, events or results "may", "could", "would", "might" or
"will" be taken, occur or be achieved. Forward-looking information
in this release include statements with respect to the
migration of plan participants to CoreHealth's platforms. Such
statements are based on the current expectations of the management
of Carebook and are based on assumptions and subject to risks and
uncertainties. Although the management of Carebook believes that
the assumptions underlying these statements are reasonable, they
may prove to be incorrect, and undue reliance should not be placed
on such forward-looking statements. The forward-looking statements
reflect the Company's current views with respect to future events
based on currently available information and are inherently subject
to risks and uncertainties. The forward-looking events and
circumstances discussed in this release may not occur by certain
specified dates or at all and could differ materially as a result
of known and unknown risk factors and uncertainties affecting the
Company, including economic factors, management's ability to manage
and to operate the business of Carebook, management's ability to
successfully integrate the Company's completed acquisitions and to
realize the synergies of such acquisitions, management's ability to
successfully complete product studies, the equity markets generally
and risks associated with growth and competition, as well as the
risk factors identified in the Company's management's discussion
and analysis for the year ended December 31,
2021 and described under the heading "Item 21 – Risk
Factors" in the Listing Application of the Company dated
September 28, 2020, each of which can
be found on SEDAR under the Company's profile at
www.sedar.com. Although Carebook has attempted to
identify important factors that could cause actual actions, events
or results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results to differ from those anticipated,
estimated or intended. Accordingly, readers should not place undue
reliance on any forward-looking statements or information. No
forward-looking statement can be guaranteed. Except as required by
applicable securities laws, forward-looking statements speak only
as of the date on which they are made and Carebook does not
undertake any obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events, or otherwise. In addition, the current situation and
future developments with respect to the COVID-19 pandemic could
cause certain of the assumptions and information set forth herein
or the fact that on which such assumptions are based to differ
materially from previous expectations including in respect of
demand for our products, access to debt and equity capital and
other factors.
SOURCE Carebook Technologies Inc.