Leading $2.8 Trillion US Healthcare Market: CEO’s of 1life Healthcare, Skylight Health, Veeva Systems, and Teladoc - Driving Explosive Revenue Growth with Innovation and New Market Expansions
NEW YORK, Jan. 12, 2021 (GLOBE NEWSWIRE) -- Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from leaders at: 1life Healthcare (NASDAQ: ONEM), Skylight Health Group (TSX.V: SHG) (OTC: SHGFF) Teladoc Health (NYSE: TDOC), and Veeva Systems (NYSE: VEEV).The US healthcare market is estimated at $2.8 trillion - and the largest in the world. Fast moving innovators are now driving a transformation wave - and creating new opportunities for investors. Wall Street Reporter highlights the latest comments from industry thought leaders:
*1life Healthcare (NASDAQ: ONEM) Chairman & CEO, Amir Rubin: “New Market Expansions Provides Long Runway For Growth” *
“...Our membership count in the quarter surpassed the half a million mark. Q3 membership growth accelerated to 29% year-over-year with momentum across both consumer and enterprise channels, allowing us to reach our year-end membership guidance a quarter early...We also surpassed $100 million in net revenue for the first time in a single quarter, delivering $102 million in total net revenue in Q3, which grew 46% year-over-year. We delivered a care margin of $42.9 million or 42% of net revenue and positive adjusted EBITDA of $3.5 million or 3% of net revenue. These margin results demonstrate the strong leverage components of our model.”
“...We are now operating in 12 markets across the United States up 50% over the last 18 months. Throughout 2020, we have expanded into new markets in partnership with both new and existing health network partners. ..by the end of 2021, we plan to have established physical presence in 17 markets, a 40% increase from our 12 markets today, and more than double the markets from where we were 18 months ago. Our partnerships and market expansions provide long runways for growth impact and returns as we increase our reach and value proposition to companies and consumers, while leveraging our technology and operating infrastructure.”
*1life Healthcare (NASDAQ: ONEM) Earnings Highlights: **https://bit.ly/35PBxGE*
*Skylight Health Group (TSX.V: SHG) (OTC: SHGFF) CEO, Prad Sekar: “Now At Inflection Point - Positioned for 10X Upside Revenue Growth Potential”*
Skylight Health Group (TSX.V: SHG) (OTC: SHGFF) was recently a featured presenter at Wall Street Reporter’s NEXT SUPER STOCK livestream investor conference. CEO Prad Sekar, outlined his vision for building Skylight into a multi-billion dollar business focused on the highly fragmented US healthcare market. Skylight already operates 30 clinics, in 14 states, with virtual telehealth overlay, serving over 120,000 patients - and is one of the fastest growing multi-disciplinary health systems in the United States.
*Watch Skylight (OTC: SHGFF) Next Super Stock livestream video:* https://bit.ly/3nqXrpA
Skylight is now at an inflection point. SHGFF revenues are expected to be $45 million and $5.5 million EBITDA run rates, with a recently announced acquisition. SHGFF boasts a profitable base of operations, no long-term debt and cash balance of $10 million. In his presentation, Skylight CEO Prad Sekar, explains how the company can increase revenues organically by about 10X, as it optimizes clinics for profitability by expansion of services to the existing patient base, with its proven business model. Significantly, Skylight has over $75 million of acquisitions in the pipeline - and growing.
January 7 - SHGFF enters into a binding Letter of Intent to purchase 100% of the shares of a US Primary and Urgent Care clinic group with 2020 unaudited revenue of over $20 million and $3 million EBITDA. The acquisition is expected to close Q1 2021.
*Watch Skylight (OTC: SHGFF) Next Super Stock livestream video:* https://bit.ly/3nqXrpA
*Veeva Systems Inc. (NYSE: VEEV), CEO Peter Gassner: “Veeva’s Cloud Innovation Powering Pharma & LifeSciences”*
“…Telemedicine increased rapidly in the U.S. from less than 1% of doctor visits in February to more than 30% of visits in April. Doctors and patients are getting used to a mix of in-person and digital interactions and are finding it productive. Using Veeva Pulse data from Veeva CRM, we see that in the U.S., remote meetings between pharma and doctors with Veeva Engage are up more than 30 times and approved e-mail communications are up more than two times from February to April.”
“Doctors are telling us they find digital meetings effective and they look forward to a mix of in-person and digital interactions once things get back to normal. It's good to see the healthcare systems and the life sciences industry evolving so rapidly. It was a very busy quarter for Veeva, we executed our first ever entirely remote product releases in both CRM and Vault. We made major changes to our product plans to release new digital capabilities, customers need most right now….Two big new areas of innovation, Data Cloud and MyVeeva: We had a major announcement for commercial in March with Veeva Data Cloud planned for the U.S. by year-end. Veeva Data Cloud will bring a better solution for patient data to the industry. This is a large, underserved area and ripe for disruption. Like the other markets we've entered, we aim to bring much needed innovation…”
*Veeva Systems (NYSE: VEEV) Earnings Call Highlights Available at: **https://bit.ly/2FnuP0w*
*Teladoc Health (NYSE: TDOC) CEO Jason Gorevic: “Virtual Care Trend is Only Accelerating - and Here to Stay (Beyond Pandemic)”*
“...We reported another quarter of significant outperformance across all key financial and operational metrics driven by broad-based momentum across the entire business. The ongoing pandemic has highlighted the critical role of virtual care within the overall health care system, and we continue to see increasing adoption by consumers, clients and providers...This broad-based strength drove record revenue of $289 million in the third quarter, an increase of 109% from the prior year period, including organic revenue growth of approximately 90%. The strength demonstrated across our diverse channels, products and geographies, combined with a robust pipeline of new opportunities, continues to give us tremendous confidence in the forward outlook for the business.
“We continue to see strong evidence of sustained utilization increases for virtual care... One clear driver of this strength has been a steady and broad-based acceleration in our noninfectious disease-related visits. Visits for conditions such as hypertension, back pain, anxiety and depression represent over half of our general medical visit volume, up from approximately 1/3 a year ago, as our comprehensive portfolio of services enables us to meet the increasing consumer demand for virtual care.”
“...Momentum in specialty visit growth, combined with the broadening diversity of diagnoses and robust overall registration growth, continues to give us a high degree of confidence in the sustainability of our volume growth. It also reinforces our strategy of consistently expanding the clinical scope of our services, which will take a quantum leap forward when we incorporate the Livongo capabilities focused on helping people who live with chronic conditions.”
*Teladoc Health (NYSE: TDOC) Earnings Highlights: **https://bit.ly/3fg9jIt*
*WALL STREET REPORTER*
Wall Street Reporter (Est. 1843) is the leading financial news provider, focused on giving investors direct access to CEO's of promising, publicly-traded companies, and market experts. www.WallStreetReporter.com Nothing in this news summary shall be construed as investment advice. Quotes/content may be edited for brevity and context. Full disclaimer, and relevant SEC 17B disclosures here: http://bit.ly/39kkE7K
*About Wall Street Reporter’s Next Super Stock conference:*
Wall Street Reporter's NEXT SUPER STOCK Live! conference is dedicated to featuring select companies that have near-term catalysts in place which can drive transformational growth (and stock appreciation) in the months ahead. Click here to join next livestream event: https://www.wallstreetreporter.com/next-superstock-online-investor-conference/
CONTACT:
WALL STREET REPORTER
(212) 871-2057 ext 7
www.WallStreetReporter.com