DALLAS, TX / ACCESSWIRE / April 11, 2019 / eWellnesss Healthcare Corporation (OTCQB: EWLL):
COMPANY DESCRIPTION
eWellnesss Healthcare Corporation has developed a telehealth solution for delivery of remotely monitored, real-time physical therapy (PT) programs to patients called Phzio. The Company's telemedicine platform has additional applications for ancillary paramedical services, potentially also addressing patients in need of pre-diabetic, cardiac, and other healthcare treatments or routine wellness programs. The Company contracts with third-party administrators (TPAs), insurers, employers, and healthcare providers, among others, throughout the US and Canada and is headquartered in Culver City, California.
SUMMARY
- Revolutionizing PT Delivery - The Company's Phzio telerehab platform is poised to revolutionize the way patients engage in physical therapy; the Phzio telehealth solution enables patients to engage in a physical therapy regime while being monitored real-time by a licensed physical therapist in his/her state. The sessions are interactive, recorded and stored in the Cloud, HIPAA compliant, and scheduled at the patient's convenience.
- Advanced Functionality of Phzio Platform - Version 3.0 of Phzio was recently released, with robust functionality and scalability to support anticipated growth. The technology has been developed and tested over years, and patents are pending. The Phzio telemedicine platform is the first of its kind, allowing a one-to-many view for physical therapists supervising patient PT, with patients being able to log on for sessions from the privacy of their homes or offices from any device with Internet access. eWellness has also developed the technology to tokenize the process for participants as sessions are completed.
- Initial Focus on PT for Workers Compensation Market - Given the demand driven by workers compensation patients, the Company is first focusing its attention on this market; there are ~10,000 new workers compensation cases created every day, which equals ~ 2 – 7% of all workers in the US being affected by a work-related incident that requires care. eWellness is targeting the 100+ carriers, 1000+ TPAs and over 1000 self-insured workers as part of its plan for driving growth and establishing reimbursement qualifications across the US. Beyond PT, the Phzio telehealth platform has numerous applications on the healthcare and wellness fronts as well.
- First Revenues Q219 - The Company has signed a contract with First MCO targeting the workers compensation population; additionally, contracts have been signed with Benefits By Design and Green Shield (Canada) also offering patients PT treatments utilizing the Phzio platform. eWellness recently announced a contract with Weight Watchers in Canada to facilitate their ~250K members'"check-ins" and to provide fitness programs through the Phzio platform, a relationship which has the potential to expand to WW's more than 5M members globally.
- Competitive Advantages - While the physical therapy market is sizable, it is also highly competitive. However, utilizing the Phzio telerehab platform has notable advantages such as increasing patient compliance through scheduled routine online sessions, lower costs due to the lack of brick and mortar and the one-to-many monitoring capabilities of its PTs, and convenience for both the patient and the physical therapist to conduct the session virtually 24/7 in their preferred environments, eliminating travel, among others.
- Sizable Target Markets - The estimated size of the PT market in the US is ~$30 billion, and the US corporate wellness industry is estimated to generate ~$8 billion annually. With the advantages of the Phzio platform over the traditional delivery of PT care, eWellness is likely to have a significant impact on these markets.
- Valuation - While EWLL offers a compelling story, we note that there currently are significant uncertainties associated with the execution of the business plan given the lack of revenues to date and critical near-term milestones, making valuation difficult.
The full report can be accessed by clicking on the link below: http://www.stonegateinc.com/reports/EWLL%20APRIL%202019%20Final%20v3.pdf
About Stonegate Capital Partners
Stonegate Capital Partners is a Dallas-based corporate advisory firm dedicated to serving the specialized needs of small-cap public companies. Since our inception, our mission has been to find innovative, undervalued public companies for our network of leading institutional investors who seek high-quality investment opportunities.
SOURCE: Stonegate Capital Partners