Greenville, South Carolina, Sept. 18, 2024 (GLOBE NEWSWIRE) — ARCpoint Inc. (TSXV: ARC) (the “Company” or “ARCpoint”) is pleased to report that it has implemented an integration that allows telehealth doctors and other practitioners to order diagnostic tests through physical locations connected by ARCpoint’s MyARCpointLabs technology platform. This integration is an enhancement to the Application Programming Interface (“API”) developed by MD Care Group, LLC,(“MD Care Group”) which is connected to ARCpoint’s MyARCpointLabs (“MAPL”) as originally reported November 21, 2023.
ARCpoint CEO John Constantine commented “According to the US Centers for Disease Control and Prevention, 70% of today’s medical decisions depend on laboratory test results, (1) which can be an issue for telehealth providers, as telehealth practitioners often do not have a direct relationship with a diagnostic testing provider. Further, according to a study published in JAMA, a peer-reviewed medical journal, completion of diagnostic tests is lower for those prescribed during telehealth visits versus in-person-visits.(2) By making it possible for telehealth providers to directly order diagnostic tests and easier for patients to fulfill these lab orders, it increases the likelihood of information being available to the telehealth provider and may improve the manner in which they can treat their patients”.
As originally reported November 21, 2023, ARCpoint implemented and deployed an application programming interface developed by MD Care Group LLC, a telehealth company, which provides consumers with cost-effective, virtual access to health care through a national network of thousands of board-certified physicians and health care providers. The API allowed ARCpoint customers to connect with MD Care Group’s doctors to discuss results from ARCpoint diagnostic tests or other medical concerns they may have, thus allowing for the creation of virtual primary care and urgent care centers anywhere ARCpoint services could be accessed. At that time, it was also reported that two companies were discussing the possibility of developing and deploying a second API which would allow doctors within the MD Care Group system to refer patients to ARCpoint testing locations.
More recently, on August 20, 2024, the Company announced that it had entered into a transaction with Any Lab Test Now (“ALTN”) to bring together the franchise operations of both ALTN and ARCpoint into a new joint venture company, CRESSO Brands, LLC. (“CRESSO”). Any Lab Test Now, based in Atlanta, Georgia, was founded in 1992 and at the time of the August 20, 2024 transaction, had more than 235 U.S. franchise locations, providing direct access to clinical, DNA, and drug and alcohol lab testing services, as well as phlebotomy and other specimen collection services, through its retail storefront business model. When combined with the more than 135 ARCpoint Franchise Group locations, also at the time of the transaction, CRESSO is now the largest franchise network of its kind in the United States.
Mr. Constantine concluded “This integration greatly enhances the functionality of the health and wellness care ecosystem we are building by allowing greater connectivity and collaboration between the ecosystem constituents. This will allow constituent service providers to better serve customers and we believe it will attract more health and wellness practitioners and other service providers, which will create an even more robust ecosystem.”
- https://www.cdc.gov/csels/dls/strengthening-clinical-labs.html
- JAMA is a peer-reviewed medical journal published 48 times a year by the American Medical Association. https://www.healthleadersmedia.com/telehealth/study-telehealth-providers-are-failing-follow-diagnostic-tests
About ARCpoint Inc.
Through its ownership stake in CRESSO Brands LLC, ARCpoint is a partner in a leading US-based franchise system that leverages technology along with brick-and-mortar locations to give businesses and individual consumers access to convenient, cost-effective healthcare information and solutions with transparent, up-front pricing, so that they can be proactive and preventative with their health and well-being. CRESSO Brands LLC, is a Delaware limited liability company and is the largest franchise network of its kind in the United States with more than 360 locations operating under the Any Lab Test Now and ARCpoint Labs brands. ARCpoint Inc.’s AFG Services LLC operates a proprietary technology platform and a physician network to equip CRESSO Brand franchisees and other third party operators with technology and tools to operate their businesses and better serve their customers.
For more information, please contact:
ARCpoint Inc.
Jason Tong, Chief Financial Officer
Phone : (604) 889-7827
E-mail : [email protected]
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This press release contains “forward-looking statements” or “forward-looking information” (collectively referred to hereafter as “forward-looking statements”) within the meaning of applicable Canadian securities legislation.
All statements that address activities, events or developments that ARCpoint expects or anticipates will, or may, occur in the future, including statements about ARCpoint’s future growth, business prospects, future trends, plans and strategies, expected benefits from business activities and the Company’s prospects for new business are forward-looking statements. In some cases, forward-looking statements are preceded by, followed by or include words such as “may”, “will”, “would”, “could”, “should”, “believes”, “estimates”, “projects”, “potential”, “expects”, “plans”, “intends”, “proposes”, “anticipates”, “targeted”, “continues”, “forecasts”, “designed”, “goal”, or the negative of those words or other similar or comparable words. Although the management of ARCpoint believes that the assumptions made and the expectations represented by such statements are reasonable.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of ARCpoint to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Risks and uncertainties applicable to the Company, as well as trends identified by the Company affecting it and the healthcare services industry can be found in the Company’s 2022 Annual MD&A and its continuous disclosure record available on SEDAR. Although ARCpoint has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, or intended. Forward-looking information included in this press release includes, but is not limited to, statements in respect of the expected timeline for deploying ARCpoint’s online portals and the expected benefits of such online portals.
Such cautionary statements qualify all forward-looking statements made in this press release. ARCpoint undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
Any forward-looking information speaks only as of the date on which it is made, and except as required by law, the Company does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Company to predict all such factors. When considering the forward-looking information contained herein, readers should keep in mind the risk factors and other cautionary statements in the Company’s disclosure documents filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this Press release.
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