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Highmark Interactive Inc. Demonstrates Traction in the US Market Deploying its EQ Remote Physiologic Monitoring Platform with Large, Multi-Site Orthopedic Organization

Wednesday, June 8, 2022 9:00 AM
Highmark Interactive Inc.

Highmark announces immediate deployment of its remote physiologic monitoring software across a large 10,000 patient plus multi-clinic orthopedic organization in California.

TORONTO, ON / ACCESSWIRE / June 8, 2022 / Highmark Interactive Inc. (TSXV:HMRK), a global leader in digital health technologies, is pleased to announce deployment of its EQ Remote Physiologic Monitoring (RPM) solution within a large multi-clinic orthopedic practice in the Greater Los Angeles area. Building on signing its recent partnership with the United States Orthopedic Alliance (USOA) earlier this year, Highmark is pleased to announce the direct sale of its RPM platform to Urgent Orthopedic Care Inc. demonstrating ongoing traction within the orthopedic surgery market segment.

Urgent Orthopedic Care (UOC), managing over 10,000 patients annually across two large facilities in the greater Los Angeles area, signed with Highmark last week and will begin deployment of Highmark's EQ RPM platform immediately. Due to UOC's size and influence in the management of workplace-injured workers, Highmark's RPM SaaS platform will be priced at a discount to usual market rates generating USD$30/patient/month of monitoring. While practices will vary, after discussions with UOC, Highmark is expecting at least two months of patient monitoring per year across its 10,000 plus patient base generating between USD$60-90/patient/year.

The EQ Remote Monitoring platform enables the physician to monitor a patient's balance before and after surgery and between clinical visits to inform and personalize the patient's treatment plan. Remote physiologic monitoring (RPM) is a recently added reimbursement code by Medicare in the United States with many commercial insurers now also providing reimbursement. Reimbursement requires the use of a medical device and Highmark's EQ Balance is FDA-cleared software as a Medical Device (SaMD) thereby meeting this requirement. Unlike other providers measuring balance, Highmark's proprietary software does not require the patient to purchase any additional expensive or cumbersome hardware. The patient only requires access to a mobile smart device, such as a phone or tablet, and internet connectivity. Highmark's EQ RPM solution is device agnostic and can be downloaded to both Android and Apple operating systems.

In adopting Highmark's EQ Remote Monitoring platform, a typical orthopedic surgeon is anticipated to be able to generate an incremental average of USD$200,000 in revenue annually. Between the announced USOA partnership and direct sales activities, Highmark has built a robust pipeline of practices looking to deploy its RPM software solution and expects to continue signing and deploying across orthopedic clinics and ortho surgery centers over the balance of the year. Not only will this provide Highmark with a clear first mover advantage within this market segment, but it also enables clinics in other verticals (e.g., neurology, primary care) to begin introducing their patients to the concept of RPM without having to make large capital investments in the more traditional and expensive medical devices currently utilized within the RPM market.

"Our remote monitoring platform is capturing critical physiologic parameters that empower both the patient and their clinicians to identify early signs of risk and enable proactive intervention that can materially reduce complications and the total cost of care for the patient." says Dr. Sanjeev Sharma, CEO of Highmark, and continues, "Highmark is well on its way to demonstrating outcome and cost benefits to providers, patients and payors, while delivering on its RPM strategy for growth. Despite significant headwinds within the broader macroeconomic environment, healthcare remains somewhat recession resistant, with its technology clearly supported by government and third-party payors within the world's largest health care market."

About Highmark Interactive

Highmark Interactive was created to change the paradigm of testing and management for brain and mental health. Highmark's approach is focused on providing real-time data to health providers to support proactive, preventative interventions and targeted care planning to improve health outcomes.

In addition to a growing network of virtual clinics, Highmark Interactive offers the world's first gamified, FDA cleared patient-led assessments as well as digital clinician-led assessments of neurofunction and balance. Together, the technology is used in more than 350 health organizations globally.

By unlocking insights, Highmark's platform enables precision medicine and creates a more contemporary model for delivering better outcomes in medical, mental health and rehabilitation services. Learn more:

For further information:
Highmark Interactive Inc.
Investor Relations
[email protected]

Cautionary Note Regarding Forward-Looking Information

This News Release contains forward-looking statements that relate to the current expectations and views of future events of the Corporation.

In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "an opportunity exists", "is positioned", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved". In addition, any statements that refer to expectations, predictions, indications, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events.

Forward-looking statements in this Filing Statement include, among other things, statements relating to anticipated revenues generated by the Corporation's customers and the patients they serve, and the Corporation's business generally. Actual revenues generated will be influenced by, among other things, the frequency of testing that is appropriate for each patient which will be dictated in part by each patient's overall health status.

These statements and other forward-looking information are based on opinions, assumptions and estimates made by the Corporation in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that Highmark believes are appropriate and reasonable in the circumstances, as of the date of this press release, including, without limitation, assumptions with respect to the number of the Corporation's customers' patients who will be suitable candidates to use Highmark's EQ Remote Monitoring platform and the frequency of the testing of those patients.

Forward-looking information is subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results that are the subject of any forward-looking statement to be materially different from those expressed or implied by such forward-looking information, including those referenced above. Although Highmark has attempted to identify important factors that could cause actual actions, events, conditions, results, performance or achievements to differ materially from those described in forward-looking information, there may

be other factors that cause actions, events, conditions, results, performance or achievements to differ from those anticipated, estimated or intended. Also see the section entitled "Risk Factors" in the Corporation's filing statement dated November 4, 2021 and the sections entitled "Financial Risk Management and "Risk Management" in the Corporation's most recent management discussion and analysis for a discussion of certain factors that could cause actual results to be materially different than any forward-looking statements presented herein.

The Corporation does not undertake, and assumes no obligation, to update or revise any such forward looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

SOURCE: Highmark Interactive Inc.

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