HealthLynked
Receives Medicare Shared Savings Net Proceeds from Sale of ACO
Health Partners
Shared
Savings of $2.88 Million with Net Proceeds of $1.15
Million
NAPLES, FL -- October 9,
2023 -- InvestorsHub NewsWire -- HealthLynked Corp. (OTCQB:
HLYK), a leader in the global healthcare network industry, is
pleased to announce the receipt of Medicare Shared Savings ("Shared
Savings") from the Centers for Medicare & Medicaid Services
("CMS") earned by ACO Health Partners ("AHP") for performance year
2022. The Shared Savings net proceeds are a component of the
consideration received by HealthLynked from its January 2023 sale
of AHP. Shared Savings earned by AHP was $2.88 million and net
proceeds to HealthLynked were $1.15 million, including allocation
for AHP's operating expenses and after payments to AHP's
participating physicians, commission to former owners, and other
expenses.
Under the sale agreement,
HealthLynked may earn additional future consideration from the sale
of AHP of up to $500,000 from performance year 2023 Shared Savings
in October 2024 and equity in PBACO Holding, LLC ("PBA"), the buyer
of AHP, in the event of an initial public offering by PBA by
February 2025.
George O'Leary,
HealthLynked's Chief Financial Officer, commented, "We are pleased
with the final determination of AHP's Shared Savings for
performance year 2022, which was higher than we had
anticipated. Our sale of AHP and collaboration
with Palm Beach ACO continues to exceed our
expectations."
About
HealthLynked
HealthLynked Corp. is
dedicated to enhancing healthcare by facilitating the efficient
exchange of medical information between patients and providers. Our
cloud-based HealthLynked Network empowers members to actively
manage their healthcare, providing a centralized and secure
location for their medical data, including medications, allergies,
past surgeries, and personal health records.
Healthcare providers in
our network benefit from improved patient care and key insights
into their practice operations. Additionally, our preferred
providers can leverage HealthLynked's marketing tools to engage
both patients, ensuring better patient compliance and optimized
scheduling. To avail these services, providers need to claim their
profiles and complete the necessary steps to become an in-network
provider.
For more about
HealthLynked Corp., please visit
www.healthlynked.com. Stay connected with HealthLynked
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and
LinkedIn.
Forward-Looking
Statements & Risk Factors
This press release
contains forward-looking statements that are not based on
historical facts. These statements, as defined by the Private
Securities Litigation Reform Act of 1995, may differ from actual
results, performance, or achievements. Forward-looking statements
involve inherent risks and uncertainties. We advise against placing
undue reliance on these statements, which are current only as of
the date of this press release.
We are not obligated to
publicly update any forward-looking statements unless required by
law. Any updates should not be interpreted as an indication of
additional updates on the same or other topics. For a detailed
understanding of the risks and uncertainties related to our
operations, please refer to the "Risk Factors" in our latest Annual
Report on Form 10-K and other filings with the U.S. Securities and
Exchange Commission, available at www.sec.gov.
HLYK
Contact:
Mike Paisan
Director of Investor
Relations
IR@healthlynked.com
+1 (800)-928-7144, ext.
123
Note
to Editors:
For further information
or to schedule an interview with a HealthLynked representative,
please contact the Director of Investor Relations at the details
provided above.