Skylight Health Provides Clinical Research Update
24 August 2022 - 2:30PM
Skylight Health Group Inc. (NASDAQ:SLHG;TSXV:SLHG) (“Skylight
Health” or the “Company”), a healthcare platform combining
technology, and analytics focused on transitioning patients into
value based care to drive better health outcomes and experiences in
the United States, today provides an update on the status of the
Company’s research program; Skylight Health Research.
- In 2021, Skylight Health Group
formally launched its research department;
- Since inception, Skylight Health
Research has been awarded eleven (11) clinical studies and has
completed four (4) to-date;
- Total revenue earned through
clinical studies in 2021, $300,000, has been doubled in 2022;
- Skylight announces two new
partnerships today, with Elligo Health Research® and
Endominance.
Skylight Health Research continues to see momentum and growth
through 2022. Since the update in April 2022, two studies have been
completed and one new study has been awarded. Four studies are
currently ongoing at three clinics, and the newest study awarded
will be conducted at three clinics launching in September 2022. Two
awarded studies are on hold with the Sponsors and are pending
launch.
Continued success has been seen through Skylight’s partnership
with ClinEdge. This vital partnership was expanded further in
September 2021 when ClinEdge was acquired by Elligo. Elligo brings
its own set of processes, efficiencies, and a wider group of
research study opportunities to Skylight with their
healthcare-enabling research model to participate in a variety of
clinical studies. Skylight Health Research officially joined
Elligo’s clinical research network in 2022 and has been working
diligently to fully onboard all five clinics participating in
Elligo’s Research Ready™ program.
Skylight Health Research has also just recently partnered with
Endominance for their Microbiome, Anxiety, & Cognitive
Orientation (MACO) study to assist with their patient recruitment.
The purpose of the MACO study is to better understand how gut
bacteria may affect the brain and how they may be associated with
anxious human behavior and cognitive traits. "This is a really
fitting and seamless partnership for Skylight," says Alisha
Garibaldi, VP of Clinical Research with Skylight. "The relationship
between the microbiome and mental health has become a much more
common topic lately, and the MACO study is investigating this
complex relationship on a very large scale. We're excited to work
with Endominance on a study that aligns so closely with Skylight's
values and drive to contribute to the advancement of medical
science."
Research revenue in 2022 has more than doubled the $300,000
earned in 2021. The team continues to plan for further expansion to
new markets within the company and is looking forward to a strong
finish to 2022.
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.
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