Market Newsdesk

January 11, 2021

• Beyond COVID-19, Philips spotlights care outside of hospital settings in unique, interactive virtual experience
• Philips executives
  Deeptha Khanna and Jeroen Tas talk digital health tech in virtual press conference during CES 2021 Media Day
• Philips named CES 2021 Innovation Awards honoree for outstanding technology products across personal and professional health

Amsterdam, the Netherlands –

Royal Philips
(NYSE: PHG, AEX: PHIA), a global leader in health technology, announced its participation in the first-ever, all-digital CES 2021, beginning today and running through Jan. 14. Since the initial outbreak of COVID-19 a year ago, healthcare has experienced a rapid transformation and acceleration of digital health technologies. During CES 2021, Philips will highlight a unique hybrid view of advanced technology solutions fast-tracking healthcare, moving outside the four walls of the hospital and into the home. 

Telehealth, including tele-dentistry, virtual care and remote monitoring have played significant roles during the pandemic and will continue to play central roles in health and well-being post COVID-19 and beyond. At this year’s CES 2021, Philips has created an interactive virtual healthy neighborhood that visitors can self-navigate. The immersive experience brings three core storylines to life, demonstrating how Philips digital health technology is supporting consumers and patients alike during COVID-19. From first-time expecting parents, to at-risk people living with chronic – and often related – conditions like cardiac disease, diabetes, or sleep apnea, to those who want to improve their oral health, Philips will spotlight end-to-end solutions to help safely evaluate and monitor people to better manage healthcare at home.

Philips CES 2021 virtual press conference

Philips executives Deeptha Khanna, Chief Business Leader of Personal Health, and Jeroen Tas, Chief Innovation & Strategy Officer, will participate in the Philips CES 2021 virtual press conference on Monday, January 11 at 10:00 a.m. EST to discuss their vision and experience in the consumer and professional health tech space.

“Since the onset of the pandemic, we have witnessed a dramatic shift to online, with the majority of our activities now centered in the home. We’re working, shopping, educating and connecting with our caregivers, all from the comfort of our homes. In fact, nearly half of our Personal Health sales are now made online,” said Deeptha Khanna, Chief Business Leader, Personal Health, Philips. “We have also witnessed the reinvention of our homes as a core element of the healthcare pathway, with telehealth, virtual and remote care technologies as the key drivers for change during COVID-19. And these changes are here to stay.”

Philips spotlights remote monitoring, virtual care and digital health solutions at CES 2021

Pregnant mothers are a vulnerable population and may have several concerns and anxieties about the impact of COVID-19 infection on pregnancy [1]. Philips COVID-19 Fetal and Maternal solution within the Avalon product family, including patch and digital twin of the fetal monitor, allows clinicians to monitor vital signs of both mom and baby from home or an isolation room to help reduce unnecessary physical interactions between clinicians and patients.

In the belief that parents should be able to make decisions based on the best possible evidence, Philips and GSK have teamed up to equip Philips’ Pregnancy+ and Baby+ apps with comprehensive and reliable information about vaccine preventable diseases and the vaccines that are available. The apps, reaching a combined total of nearly 2 million parents worldwide every day, provide articles and videos about the importance of vaccination, together with a vaccination hub to help parents access comprehensive and reliable information to support conversations with their healthcare professionals, such as which vaccines are relevant and when they need to be administered. Parents are also invited to participate in on-line research to help to better understand their views on different vaccinations.

For people living with health conditions like diabetes or cardiac disease, Philips will highlight its recently introduced biosensor-based solutions for remote monitoring of at-risk chronic disease patients as they transition from the hospital into the home. Philips will also spotlight  its end-to-end, clinically proven sleep solutions, designed to help address chronic sleep conditions like sleep apnea from discovery, to diagnosis, through treatment and adherence – even from the home. Being showcased for the first time at CES is the Philips Mask Selector, the first and only clinically validated, 3D facial scanning solution that helps providers fit 9 out of 10 patients with the right mask from the start [2]. The proprietary Mask Selector algorithm offers a novel solution in the shift toward digitization of health care, helping to improve business efficiencies by reducing costs associated with fitting time and mask waste.

Philips debuts new Philips Sonicare 9900 Prestige at CES

As dentist offices closed for a significant period of time during the height of the pandemic, routine face-to-face dental check-ups came to a standstill. Taking care of oral health at home became more important than ever before. Earlier today, Philips announced the commercial launch of its most recent addition to the Sonicare line of advanced oral care products with the introduction of the Sonicare 9900 Prestige. This latest power toothbrush with Philips SenseIQ technology and in-built artificial intelligence helps make daily brushing as effective as possible. The Sonicare 9900 Prestige is designed to sense, adapt and care for a personalized approach to oral care. It is intuitive, adjusting its settings to a consumer’s personal brushing behavior.  For instance, when applying too much pressure, it automatically adjusts the brushing intensity.

Philips addresses key areas of health tech focus in CES panel speaker sessions
During CES 2021, Pat Baird, Regulatory Standards Specialist and Global Head of Software Standards at Philips will address the trustworthiness of AI in healthcare through the lens of the end user including physicians, consumers, professional and family caregivers, public health leaders, medical societies, and regulators. Joining Philips in the discussion on Trust and the impact of AI on healthcare are Dr. Jesse Ehrenfeld, MD, American Medical Association, and Christina Silcox, PhD, Managing Associate at the Duke-Margolis Center for Health Policy at Duke University. CES attendees can join the panel session, Jan. 12 at 10:15 a.m. EST.

Building sustainability and battling climate change
Robert Metzke, Global Head of Sustainability for Philips will also speak at CES during an in-depth fireside chat titled “Building Sustainability and Battling Climate Change.” Robert will give his views on how business leaders are increasingly acknowledging how critical sustainability is to the future. This session will premiere on Jan. 13 at 11:30 a.m. EST. Both speaker sessions will be available on demand for 30 days to all registered CES attendees following the event.

Philips named CES 2021 Innovation Awards honoree

On Dec. 15, the Consumer Technology Association (CTA)® announced the CES® 2021 Innovation Awards honorees, including those products recognized as Best of Innovation. Honorees are recognized for outstanding products, upcoming trends and how companies are using technology to change lives for the better. Philips been named a CES® 2021 Innovation Awards honoree recognized for multiple technology solutions across personal and professional health including the Philips Patient Monitoring Kit; the Philips Wearable Biosensor; the Philips Mask Selector; the Philips Sonicare Prestige 9900; and Philips Teledentistry.

Visit the Philips exhibitor showcase at the all-digital CES 2021 to learn more and follow @PhilipsLiveFrom for live updates throughout the event. While the Philips virtual healthy neighborhood experience is built for CES, the platform will be live throughout the year to continue to demonstrate both Personal Health and Connected Care technology solutions supporting consumer health.

[1] Covid-19 related anxiety and concerns expressed by pregnant and post-partum women – a survey among obstetricians (nih.gov): https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7445074/.
[2] 2019 Philips sponsored patient preference trial (n=310). Patients scanned using Mask Selector (n=153) vs. traditional fitting methods (n=157).

For further information, please contact:

Kathy O’Reilly
Philips Global Press Office
Tel.: +1 978-221-8919
E-mail : [email protected]
Twitter: @kathyoreilly

Laura Seikritt
Philips Global Press Office
Tel: +31 6 20740318
E-mail: [email protected]

About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being, and enabling better outcomes across the health continuum – from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2019 sales of EUR 19.5 billion and employs approximately 81,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

Attachments

• Expecting parents
• Philips Mask Selector 3D CPAP
• Philips Avalon cableless fetal and maternal pod with single-use disposable patch
• Philips remote patient monitoring with BioIntelliSense BioSticker
• Philips Sonicare 9900 Prestige power toothbrush with Philips SenseIQ technology

KANSAS CITY, Mo., Jan. 11, 2021 (GLOBE NEWSWIRE) — Cerner Corporation (Nasdaq: CERN) today announced it will release its fourth quarter 2020 earnings results after the market closes Wednesday, February 10^th. Following the release, the company will hold a conference call at 3:30 p.m. CT that can be accessed via dial-in or webcast. On the call, Cerner will discuss its results and outlook and answer questions from the investment community. The call may also include discussion of Cerner developments and other material and forward-looking information about business and financial matters.

The dial-in number for the conference call is (678) 509-7542; the passcode is Cerner. The company recommends joining the call 15 minutes early for registration. An audio webcast will be available live and archived on Cerner’s website in the Investor Relations section.

About Cerner

Cerner’s health technologies connect people and information systems at thousands of contracted provider facilities worldwide dedicated to creating smarter and better care for individuals and communities. Recognized globally for innovation, Cerner assists clinicians in making care decisions and assists organizations in managing the health of their populations. The company also offers an integrated clinical and financial system to help manage day-to-day revenue functions, as well as a wide range of services to support clinical, financial and operational needs, focused on people. For more information, visit Cerner.com, The Cerner Blog, The Cerner Podcast or connect on Facebook, Instagram, LinkedIn or Twitter. Nasdaq: CERN. Health care is too important to stay the same.

Media Contact: Stephanie Greenwood, Public Relations, (816) 201-2137
Investor Contact: Allan Kells, Investor Relations, (816) 201-2445

NEWTON, Mass., Jan. 11, 2021 (GLOBE NEWSWIRE) — An early analysis of 2020 restaurant gift card sales by Paytronix Systems, Inc., the most advanced digital guest experience platform, found that while holiday card sales accounted for the same percentage of annual sales as previous years, overall card sales ended the year down 31.8% when compared with 2019. Per-card spending remained relatively consistent when compared with previous years.

Paytronix data shows that holiday sales – those that occurred during November and December – accounted for 45.8% of all restaurant gift card sales in 2020, and approximately 48.6% of all gift card spend. This is on par with the previous three years, during which holiday card sales accounted for an average of 46.3% of all annual gift card sales.  

Despite a nearly one-third decline in overall card sales, the average dollar amount loaded onto each card remained fairly consistent in 2020, indicating that guests maintained their spending power. Fine Dining restaurants fared exceptionally well in this regard, realizing a 7.7% increase in the average spend per gift card over the course of the year.  

Full Service Restaurants (FSRs), meanwhile, took the brunt of the losses in 2020. FSRs’ share of the market fell by more than 15% to account for just 26.3% of gift card sales across restaurant sectors. The bulk of those sales were recouped by Quick Service Restaurants (QSRs), which accounted for 66.5% of sales in 2020. The remaining two restaurant types – Fast Casual and Fine Dining – accounted for 4.5% and 2.7% of annual gift card sales, respectively.  

“Guests appear to have opted for either QSRs or Fine Dining over FSRs in 2020. QSRs have emerged as the big winner throughout the pandemic, so it’s no surprise to see them with strong gift card numbers. The Fine Dining category is interesting, because it suggests that people still crave a dining experience, either through high-quality food or in the hope that they can dine-in soon,” said Lee Barnes, head of Paytronix Data Insights. 

Even as sales were lower this year, traditional sales patterns continued to hold. The holiday season kicked off with Black Friday sales down 30.1% from previous years, then experienced a last-minute peak in the last few days leading up to Christmas.

The holiday sales analysis is a key component in the development of the Paytronix Annual Gift Card Sales Report, which will be available later this year. That Report offers an in-depth look into holiday gift card sales, sales by channel and service type, anticipated redemption and new insights on eGift cards. With the online ordering industry expanding, the Report also examines the impact of gift cards redeemed online.

Sign up in advance on the Paytronix website to receive the full report when it becomes available.

Methodology

Following trends in closed-loop restaurant gift card sales, the Paytronix gift card sales research includes data from gift card sales on between November 1, 2020 and December 31, 2020 and includes 192 brands.

Paytronix
Systems, Inc.

Based in Newton, Massachusetts, Paytronix is a provider of SaaS customer experience management (CXM) solutions for restaurants and convenience stores. Through its innovative software design and integrations with more than 30 widely used point-of-sale systems, Paytronix empowers more than 500 brands across 30,000 locations, giving them the flexibility to deliver unique, revenue-enhancing guest experiences. Through one-to-one engagement with more than 285 million guests via Order & Delivery, Loyalty, CRM, and Stored Value, Paytronix generates Big Data consumer insights that motivate increased visits and spend. For more information, visit www.paytronix.com.

Media Contact:


Chuck Tanowitz
Paytronix Systems, Inc.
617-871-2319

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/53174354-2b7a-4cf2-99db-a978eec4cf17

[email protected]

WESTLAKE VILLAGE, Calif., Jan. 11, 2021 (GLOBE NEWSWIRE) — Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT), a late-stage biopharmaceutical company focused on developing and commercializing treatments for unmet needs in immune-mediated dermatological diseases and conditions, or immuno-dermatology, today announced that Matthew Moore has joined the company as Chief Business Officer. Mr. Moore brings to Arcutis over 20 years of strategy, transaction and operations experience in the biopharmaceutical industry. Most recently, he served as Vice President, Corporate Business Development and Alliance Management at Allergan, where he led worldwide strategy and business development for the company’s $4B+ Medical Aesthetics business unit.

“We are thrilled to add Matt to our executive team. Like the rest of our senior team, Matt brings a deep understanding of dermatology markets, and he adds important expertise in corporate strategy, business development, and alliance management. His extensive experience creating shareholder value through successful business development will be a key enabler as we continue to build Arcutis into one of the industry’s leading dermatology companies,” said Frank Watanabe, Arcutis’ President and Chief Executive Officer. “We at Arcutis are focused on elevating the standard of care for dermatological diseases, and his strategic insights and deal execution will play an important role in helping us to realize that goal.”

“I am delighted to join Arcutis at such an exciting time for the company,” said Mr. Moore. “Arcutis has established itself as a leader in medical dermatology and is uniquely positioned to fill the innovation gap in this therapeutic area. I have been impressed by the pace of progress achieved to date, and look forward to working with the team to help make Arcutis the preeminent, innovation-driven medical dermatology company.”

During his tenure at Allergan and its predecessor companies, Actavis and Forest Labs, Mr. Moore was responsible for creating and executing business development growth strategies across multiple therapeutic areas including medical aesthetics, neuroscience, anti-infectives and hospital products. In addition, Mr. Moore served as a key deal team member in Actavis’ transformational acquisition of Allergan and Allergan’s ultimate sale to AbbVie. Prior to Allergan, Mr. Moore held executive roles at DOV Pharmaceutical and he started his career in the healthcare investment banking group at CIBC Oppenheimer. Mr. Moore earned his B.A. in Psychology from Trinity College.

About Arcutis – Bioscience, applied to the skin.
Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT) is a late-stage biopharmaceutical company focused on developing and commercializing treatments for unmet needs in immune-mediated dermatological diseases and conditions, or immuno-dermatology. The company is leveraging recent advances in immunology and inflammation to develop differentiated therapies against biologically validated targets to solve persistent treatment challenges in serious diseases of the skin. Arcutis’ robust pipeline includes four novel drug candidates currently in development for a range of inflammatory dermatological conditions. The company’s lead product candidate, topical roflumilast, has the potential to revitalize the standard of care for plaque psoriasis, atopic dermatitis, scalp psoriasis, and seborrheic dermatitis. For more information, visit https://www.arcutis.com or follow the company on LinkedIn and Twitter.

Forward Looking Statements

This press release contains “forward-looking” statements, including, among others, statements regarding the potential for Arcutis to become the preeminent, innovation-driven medical dermatology company. These statements involve substantial known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements and you should not place undue reliance on our forward-looking statements. Risks and uncertainties that may cause our actual results to differ include risks inherent in the clinical development process and regulatory approval process, the timing of regulatory filings, and our ability to defend our intellectual property. For a further description of the risks and uncertainties applicable to our business, see the “Risk Factors” section of our Form 10-Q filed with U.S. Securities and Exchange Commission (SEC) on November 5, 2020, as well as any subsequent filings with the SEC. We undertake no obligation to revise or update information herein to reflect events or circumstances in the future, even if new information becomes available.

Investors and Media:

Heather Rowe Armstrong
Vice President, Investor Relations & Corporate Communications
[email protected]
805-418-5006, Ext. 740

Miami Gardens, Fla, Jan. 11, 2021 (GLOBE NEWSWIRE) — Centerplate, the leading hospitality partner to North America’s premier sports entertainment venues, today announced an array of specialty menu items for Monday’s highly anticipated College Football Playoff National Championship between the Alabama Crimson Tide and Ohio State Buckeyes. This is the first time the game will be played in Miami, and the food and beverage experience will rise to the occasion, while ensuring all of the appropriate safety protocols for the expected 13,000 fans in attendance. Everything has been coordinated within local, NFL, and CDC guidelines to help limit the spread of COVID-19.

Hard Rock Stadium, a global entertainment destination, was the first stadium worldwide to receive GBAC STAR accreditation. The stadium successfully completed 20 program elements with specific performance and guidance criteria to earn accreditation and has been safely hosting professional and collegiate football games over the past few months, as well as an outdoor theater experience. This video details the safety protocols that have been installed.

“Although this year will look different, this is a championship matchup, and we are prepared to provide a championship level of hospitality,” said Centerplate Chief Executive Office Steve Pangburn. “We are sourcing from South Florida purveyors and employing nearly 1,000 employees to help boost the regional economy and will help curate the finest fan experience in the safest environment possible.”  

The experience will feature an online order-ahead food and beverage option via the stadium app, with distinct pickup-only locations in the stadium. There will also be a limited concessions menu featuring only the most popular items and more pre-packaged offerings, to reduce wait time and crowding on the concourses, so people can return to their seats faster.

“The health and safety of everyone continues to be our top priority for the national championship game,” said Miami Dolphins and Hard Rock Stadium Vice Chairman and CEO Tom Garfinkel. “We hope the diligent planning that has gone into making Hard Rock Stadium a safe environment will create an enjoyable experience for all of our guests.”

Among other changes to the food and beverage program:

• Elimination of cash to reduce contact
• Elimination of condiment stands on the concourse
• Elimination of vendors walking up and down aisles
• Gloves and masks required for all food-service employees
• Social distance markings to encourage and promote distancing guidelines in common areas
• Buffet items to be served by both culinarians and private suite attendants

Bill Hancock, Executive Director of the College Football Playoff, added, “We know that everything will adhere to rigorous safety standards, while still providing students and fans a fun and tasty addition to their time at the College Football Playoff National Championship.”

There will also be team-inspired, locally authentic creations from Executive Chef Dayanny De la Cruz that will delight Alabama and Ohio State fans.

Finally, 20,000 of Ball Corporation’s infinitely recyclable aluminum cups will also be available for fans. Centerplate is adopting the cups as part of parent company Sodexo’s Better Tomorrow 2025 goals and to help forward Hard Rock Stadium’s broader mission to phase out 99.4 percent of single-use plastics at the venue. Hard Rock Stadium became the first professional football arena to feature the aluminum cups at scale when it debuted them during the Miami Dolphins’ final home game of the season in December 2019.

About Centerplate

Centerplate is a leader in live event hospitality, “Making It Better To Be There®” for more than 115 million guests each year at more than 200 prominent entertainment, sports and convention venues. From hosting VIPs at the Super Bowl to super heroes at Comic Con, the company provides hospitality services to North America’s premier events. A Sodexo company, Centerplate creates unique, locally-inspired menus, best-in-class guest service, and one-of-a-kind experiences backed by world-class design and insights teams. Visit the company online, connect via Twitter @centerplate, Instagram @Centerplate_ or Facebook.com/centerplate.

Attachments

• Chicken Pops on CP Board FOR WEB
• Hard Rock Stadium Cubano Sausage

Paul Pettas
Centerplate
[email protected]

DRAPER, Utah, Jan. 11, 2021 (GLOBE NEWSWIRE) — HealthEquity, Inc. (NASDAQ: HQY) (“HealthEquity” or the “Company”), the nation’s largest independent health savings account (“HSA”) custodian, today announced it will provide final sales results for its fiscal year 2021, on February 8, 2021, while providing estimates of HSA members, HSA assets and Total Accounts for its fiscal year ending on January 31, 2021, and raised its outlook for HSA cash yield for fiscal year 2022. HealthEquity also announced its JP Morgan Health Conference virtual presentation time and access.

• Estimated HSA members are expected to be in a range between 5.7 million to 5.8 million by January 31, 2021, up from 5.3 million a year earlier.
• HSA assets are expected to be in a range of $13.6 billion to $13.8 billion, up from $11.5 billion at the end of the prior year.
• HSA cash is expected to be in a range of $9.6 billion to $9.7 billion by January 31, 2021, up from $8.7 billion a year earlier.
• HSA investments are expected to be in a range of $4.0 billion to $4.1 billion, excluding the potential impact from market volatility for the remainder of the month of January 2021, compared to $2.8 billion at the end of fiscal year 2020.
• HealthEquity estimates it will close fiscal year 2021 with Total Accounts in the range of 12.8 to 13.0 million, not including ~0.6 million commuter accounts in suspense due to the pandemic, compared to 12.8 million at the end of the prior year.

The Company estimates that it will end its fiscal 2021 year with approximately 100,000 employer clients and 174 network partners consisting of integrated health and retirement plan partners, brokers and benefit advisors.

The Company further announced that with a large part of HSA cash now placed and based upon current indications provided by its bank depository partners, it now expects the yield on HSA cash with yield to be between 1.75% to 1.80% for fiscal year 2022.

Commenting on the results, Jon Kessler, President and CEO said, “The team made the most of its opportunities during fiscal year 2021 and we expect to grow HSAs, HSA assets and Total Accounts on par with or ahead of fiscal year 2020 as a result of their efforts. The uptake of our total solution for HSA and other consumer directed benefit administration, and the pipeline of prospects that deferred change during the pandemic leave us excited for the sales growth HealthEquity can achieve in the year ahead.”

HealthEquity will discuss these results and estimates during its virtual presentation at the 39^th Annual JP Morgan Healthcare Conference on Wednesday, January 13, 2021. Jon Kessler, President and Chief Executive Officer, Darcy Mott, Executive Vice President and Chief Financial Officer, and Tyson Murdock, Executive Vice President and Deputy Chief Financial Officer will discuss HealthEquity in a presentation scheduled to begin at 5:20 PM Eastern Time and will be available for virtual one-on-one meetings throughout the conference.

A live audio webcast of the presentation along with a copy of the presentation slides will be available and archived on HealthEquity’s investor relations website at http://ir.healthequity.com.

About HealthEquity

HealthEquity administers Health Savings Accounts (HSAs) and other consumer-directed benefits for our more than 12 million accounts in partnership with employers, benefits advisors, and health and retirement plan providers who share our mission to connect health and wealth and value our culture of remarkable “Purple” service. For more information, visit www.healthequity.com.

Forward-looking statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding our industry, business strategy, plans, goals and expectations concerning our markets and market position, product expansion, future operations, expenses and other results of operations, revenue, margins, profitability, acquisition synergies, future efficiencies, tax rates, capital expenditures, liquidity and capital resources and other financial and operating information. When used in this discussion, the words “may,” “believes,” “intends,” “seeks,” “aims,” “anticipates,” “plans,” “estimates,” “expects,” “should,” “assumes,” “continues,” “could,” “will,” “future” and the negative of these or similar terms and phrases are intended to identify forward-looking statements in this press release.

Forward-looking statements reflect our current expectations regarding future events, results or outcomes. These expectations may or may not be realized. Although we believe the expectations reflected in the forward-looking statements are reasonable, we can give you no assurance these expectations will prove to be correct. Some of these expectations may be based upon assumptions, data or judgments that prove to be incorrect. Actual events, results and outcomes may differ materially from our expectations due to a variety of known and unknown risks, uncertainties and other factors. Although it is not possible to identify all of these risks and factors, they include, among others, risks related to the following:

• the impact of the ongoing COVID-19 pandemic on the Company, its operations and its financial results;
• our ability to realize the anticipated financial and other benefits from combining the operations of WageWorks with our business in an efficient and effective manner;
• our ability to compete effectively in a rapidly evolving healthcare and benefits administration industry;
• our dependence on the continued availability and benefits of tax-advantaged health savings accounts and other consumer-directed benefits;
• our ability to successfully identify, acquire and integrate additional portfolio purchases or acquisition targets;
• the significant competition we face and may face in the future, including from those with greater resources than us;
• our reliance on the availability and performance of our technology and communications systems;
• recent and potential future cybersecurity breaches of our technology and communications systems and other data interruptions, including resulting costs and liabilities, reputational damage and loss of business;
• the current uncertain healthcare environment, including changes in healthcare programs and expenditures and related regulations;
• our ability to comply with current and future privacy, healthcare, tax, ERISA, investment adviser and other laws applicable to our business;
• our reliance on partners and third-party vendors for distribution and important services;
• our ability to develop and implement updated features for our technology and communications systems and successfully manage our growth;
• our ability to protect our brand and other intellectual property rights; and
• our reliance on our management team and key team members.

For a detailed discussion of these and other risk factors, please refer to the risks detailed in our filings with the Securities and Exchange Commission, including, without limitation, our Annual Report on Form 10-K for the fiscal year ended January 31, 2020, as updated by our Quarterly Report on Form 10-Q for the quarter ended July 31, 2020, and subsequent periodic and current reports. Past performance is not necessarily indicative of future results. We undertake no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.

Investor Relations Contact:

Richard Putnam
801-727-1209
[email protected]

NEW YORK, Jan. 11, 2021 (GLOBE NEWSWIRE) — via InvestorWire – Ideanomics (NASDAQ: IDEX) today announces that it has been featured in a broadcast via NetworkNewsAudio (NNA), a solution that delivers additional visibility, recognition and brand awareness in the investment community via distribution to thousands of syndication points. The audio press release covers the definitive agreement recently signed to acquire 100% of privately held Wireless Advanced Vehicle Electrification, Inc. (“WAVE”).

To hear the audio production, visit: https://www.nnw.fm/wcCAn

To read the original press release, visit: https://www.nnw.fm/ayjzx

“The acquisition of WAVE is a significant one for our EV efforts across the board. We are excited to bring Michael Masquelier and his team into the Ideanomics family, where we can inject significant growth capital to enable WAVE to further accelerate its business and bring wireless charging to our product offerings. WAVE has become a market leader in inductive charging systems, which are much better suited for commercial EVs than plug-in charging systems,” said Alf Poor, Ideanomics CEO. “WAVE complements our Medici Motor Works and Treeletrik businesses, and our investment in Solectrac, and is aligned with our MEG division’s Sales to Financing to Charging (S2F2C) model. This is a win-win all around, which will help maximize shareholder value. We’re thrilled to have signed the definitive agreement for this acquisition so we can get to work immediately on the opportunities this brings to both Ideanomics and WAVE.”

“Fast, safe, in-route charging is key to enabling commercial EVs to match the range of internal combustion vehicles,” said Michael Masquelier, WAVE’s Founder and CEO. “Joining the Ideanomics family will allow WAVE solutions to rapidly develop at the scale needed to help fleet operators around the world meet their zero-emission goals.”

About Ideanomics

Ideanomics is a global company focused on the convergence of financial services and industries experiencing technological disruption. Our Mobile Energy Global (MEG) division is a service provider that facilitates the adoption of electric vehicles by commercial fleet operators through offering vehicle procurement, finance and leasing, and energy management solutions under our innovative sales to financing to charging (S2F2C) business model. Ideanomics Capital is focused on disruptive fintech solutions for the financial services industry. Together, MEG and Ideanomics Capital provide our global customers and partners with leading technologies and services designed to improve transparency, efficiency, and accountability, and our shareholders with the opportunity to participate in high-potential, growth industries.

For more information, visit the company’s website at www.Ideanomics.com.

About NetworkNewsAudio

NetworkNewsAudio (“NNA”), one of 50+ brands within the InvestorBrandNetwork (“IBN”), allows you to sit back and listen to market updates, CEO interviews and AudioPressRelease (“APR”) productions. These audio clips provide snapshots of position, opportunity and momentum. NNA can assist by cutting through the overload of information in today’s market, while bringing its clients unparalleled visibility, recognition and brand awareness. IBN is where news, content and information converge. IBN is a comprehensive provider of news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of journalists and writers, IBN has the unparalleled ability to reach a wide audience of investors, consumers, journalists and the general public with an ever-growing distribution network of 5,000+ key syndication outlets across the nation.

For more information, visit: www.NetworkNewsAudio.com

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Forward-Looking Statements
This press release contains certain statements that may include “forward looking statements”. All statements other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions, involve known and unknown risks and uncertainties, and include statements regarding our intention to transition our business model to become a next-generation financial technology company, our business strategy and planned product offerings, our intention to phase out our oil trading and consumer electronics businesses, and potential future financial results. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of risks and uncertainties, such as risks related to: our ability to continue as a going concern; our ability to raise additional financing to meet our business requirements; the transformation of our business model; fluctuations in our operating results; strain to our personnel management, financial systems and other resources as we grow our business; our ability to attract and retain key employees and senior management; competitive pressure; our international operations; and other risks and uncertainties disclosed under the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our most recent Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, and similar disclosures in subsequent reports filed with the SEC, which are available on the SEC website at www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

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TULSA, Okla., Jan. 11, 2021 (GLOBE NEWSWIRE) — Cavanal Hill announces the creation of a new yield focused fund, the Hedged Income Fund (the Fund).

Traditional income investments like corporate and government bonds have historically been logical investments for retirees and risk-adverse investors. Given the current environment of diminished yields, however, many investors are now struggling to find alternative strategies for generating income for their portfolios while still protecting their hard-earned savings.

“Over the past few years a challenge for fixed income investing has developed,” said Matt Stephani, President of Cavanal Hill Investment Management, Inc. “Yields on traditional sources of investment income have steadily declined, leaving investors grasping for yield from other, often riskier types of assets.”

In response, Cavanal Hill Funds developed the Fund which has the following characteristics:

• Attractive Yield: Targeting a yield higher than that of the S&P 500
• Downside Price Protection: Price hedging is in place to protect the portfolio from large downward moves in the market
• Reduced Volatility: Volatility of returns that are significantly lower than the S&P 500
• Tax-advantaged Income: Dividends on stocks are currently taxed at a lower rate than the top marginal rate on interest income

The Cavanal Hill Hedged Income Fund utilizes Cavanal Hill Investment Management’s experience in designing attractive, dividend-paying equity portfolios with Lavaca Capital, LLC’s expertise in options investing. Cavanal Hill Investment Management has developed a proprietary process of identifying companies with strong and growing cash flows and consistent dividend growth. Products utilizing this process were previously only available to ultra-high net worth clients and institutions until now. Lavaca adds a custom options overlay to the Cavanal Hill process by writing covered calls on securities held in the Fund and utilizing some of the premium income to purchase broad-based puts. As a result, the Hedged Income Fund provides an attractive yield for investors via dividend income and net call premiums while also protecting the Fund from significant downside. This creates an innovative and timely product solution for a low yield environment.

The Fund is managed by:

Brandon Barnes, Senior Equity Portfolio Manager, Cavanal Hill Investment Management, Inc.
Mike Schloss, Equity Portfolio Manager, Cavanal Hill Investment Management, Inc.
Scott Phillips, Founder, CEO, and CIO, Lavaca Capital LLC
Jacob Johnson, Portfolio Manager, Lavaca Capital LLC

The fund’s three share classes will be listed on the NASDAQ exchange under the following symbols:

Institutional Share Class:						AILIX
Investor Share Class:						APLIX
A Share Class:						AALIX

Disclosures

Cavanal Hill Investment Management, Inc. is an SEC registered investment adviser and a wholly-owned subsidiary of BOKF, NA, a wholly-owned subsidiary of BOK Financial Corporation, a financial holding company (“BOKF”). Cavanal Hill Distributors, Inc., member FINRA, is a wholly-owned subsidiary of BOK Financial Corporation, and an affiliate of BOKF, NA and Cavanal Hill Investment Management, Inc.

Past performance does not guarantee future results. Investment are subject to risks, including the possible loss of the principle amount invested. An investor should consider the Fund’s investment objectives, risks, and charges and expenses carefully before investing or sending money. This and other important information about the investment company can be found in the Fund’s prospectus or summary prospectus. To obtain a prospectus or summary prospectus online, please visit cavanalhillfunds.com or call 800-762-7085. Please read the prospectus or summary prospectus carefully before investing.

Investment Risks

The market value of a security may move up and down, sometimes rapidly and unpredictably. The value of a security may decline for a number of reasons which directly relate to the issuer, such as management performance, earnings and sales trends, investor perceptions financial leverage or reduced demand for the issuer’s goods or services. The risk of investing in derivative instruments, including liquidity, interest rate, market, credit and management risks, mispricing or improper valuation. Changes in the value of a derivative may not correlate perfectly with the underlying asset, rate or index, and the Fund could lose more than the principal amount invested. The risk of potential losses if equity markets or an individual security do not move as expected and the potential for greater losses than if these techniques had not been used. By writing covered call options, a fund will not benefit from any potential increases in the value of a fund asset above the exercise price, but will bear the risk of declines in the value of the asset. Writing call options may expose a fund to additional costs. Writing of covered call options are also subject to the risk that the counterparty to the transaction will not fulfill its obligations. As a large percentage of a Fund’s assets may be invested in a limited number of securities, each investment has a greater effect on a Fund’s overall performance and any change in the value of those securities could significantly affect the value of your investment in the fund. Investments of a “non-diversified” mutual fund are not required to meet certain diversification requirement under Federal law. Compared with “diversified” portfolios, a non-diversified fund may invest a greater percentage of its assets in the securities of an issuer. A decline in the value of those investments would cause the Fund’s overall value to decline to a greater degree than if the Fund held more diversified holdings. There is no guarantee that the investment techniques and risk analyses used by the Fund’s portfolio managers will produce the desired results. The fund’s investment in dividend-paying stocks could cause the fund to underperform similar funds that invest without consideration of a company’s track record of paying dividends. Stock of companies with a history of paying dividends may not participate in a broad market advance to the same degree as most other stocks, and a sharp rise in interest rates or economic downturn could cause a company to unexpectedly reduce or eliminate its dividend. The risk associated with higher transaction costs, delayed settlements, currency controls or adverse economic and political developments. Foreign securities may be affected by incomplete or inaccurate financial information on companies. There is a risk of loss attributable to social upheavals, unfavorable governmental or political actions, seizure of foreign deposits, changes in tax or trade statutes, and governmental collapse and war. These risks are more significant in emerging markets. The risk that the stocks of mid-capitalization companies often have greater price volatility, lower trading volume, and less liquidity than the stocks of larger, more established companies. Small cap companies may be more of larger companies or the market averages in general. Small cap companies may be adversely affected during periods when investors prefer to hold securities of large capitalization companies. If positions held by the Fund were treated as “straddles” for federal income tax purposes, or a Fund’s risk of loss with respect to a position was otherwise diminished as set forth in Treasury Regulations, dividends on stocks that are a part of such positions would not constitute qualified dividend income subjects to such favorable income tax treatment or qualify for the dividends received deduction for corporate shareholders. In addition, generally, straddles are subject to certain rules that may affect the amount, character and timing of the Fund’s gains and losses with respect to straddle positions by requiring, among other things, that 1) any loss realized on disposition of one position of a straddle may not be recognized to the extent that the Fund has unrealized gains with respect to the other position in such straddle; 2) the Fund’s holding period in straddle positions be suspended while the straddle exists (possibly resulting in a gain being treated as short-term capital gain rather than long-term capital gain); 3) the losses recognized with respect to certain straddle positions that are part of a nixed straddle and that are non-section 1256 contracts to be treated as 60% long-term and 40% short-term capital loss; 4) losses recognized with respect to certain straddle positions that would otherwise constitute short-term capital losses be treated as long-term capital losses; and 5) the deduction of interest and carrying charges attributable to certain straddle positions may be deferred.

Media contact:
Cody McAlester
[email protected]

SUGAR LAND, Texas, Jan. 11, 2021 (GLOBE NEWSWIRE) — AdvoLogix®, a leading Enterprise Legal Management (ELM) company for corporate legal departments, law firms and government agencies, today announced that legal technology industry veteran Dan Bellopede has joined the company as its chief revenue officer. In this newly created role, Bellopede will oversee customer success, revenue and marketing. He will work with the AdvoLogix team, clients, and partners to build on the company’s recent momentum and further accelerate its growth and new opportunities.

Bellopede brings more than 20 years of experience to the AdvoLogix leadership team, much of which has included accelerating growth at highly sophisticated legal technology software providers including Recommind and Omnivere. Most recently, he worked to grow a legal application built on the Salesforce® platform. Bellopede’s expertise lies within his ability to listen to clients, understand their challenges and help them implement software solutions to address their needs for efficiency, productivity and return on investment.

“I was drawn to AdvoLogix because of the strength and power of the platform,” Bellopede says. “After meeting the team and evaluating the software, I believe there is tremendous opportunity for legal professionals in law firms, corporate legal departments and government entities to improve operational efficiencies and increase productivity though the expanded use of AdvoLogix. I’m excited to be on this team and look forward to working with both existing and new clients and partners.”

“As our company continues to grow, we are focused on adding talented leaders who are capable of building on our momentum to carry us forward. We believe Dan’s customer-centric approach is a great fit for AdvoLogix and welcome him to our team,” says Jonathan Reed, CEO of AdvoLogix. “He brings a fresh perspective and new ideas for product development, to expand our reach in the legal space and further develop our partner network. His years of experience in the legal technology field will serve us well, and we look forward to the contributions we’re certain he will make to the company.”

About AdvoLogix®
Founded in 2006, AdvoLogix is a leading law practice and legal matter management solution that helps law firms, general counsel and state and local governments automate unique business processes and simplify legal matter management. The AdvoLogix cloud-based enterprise solution centralizes matter management, conforms to unique workflows and practice standards and provides industry-leading security and reliability. AdvoLogix offers comprehensive configuration and integration with thousands of add-on applications to extend the solution to meet specific business needs. For more information, visit www.advologix.com and follow AdvoLogix on Twitter with @AdvoLogix.

Media Contact

Vicki LaBrosse
Edge Legal Marketing
[email protected]
651.552.7753

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a0abd680-d2e2-4b13-a1fb-c7e8ed4a3f23

ENGLEWOOD, Colo., Jan. 11, 2021 (GLOBE NEWSWIRE) — Gevo, Inc. (“Gevo”) (NASDAQ: GEVO), announces the concept of Net-Zero Projects for the production of energy dense liquid hydrocarbons using renewable energy and Gevo’s proprietary technology. The concept of a Net-Zero Project is to convert renewable energy (photosynthetic, wind, renewable natural gas, biogas) from a variety of sources into energy dense liquid hydrocarbons, that when burned in traditional engines, have the potential to achieve net-zero greenhouse gas (GHG) emissions across the whole lifecycle of the liquid fuel: from the way carbon is captured from the atmosphere, processed to make liquid fuel products, and including the end use (burning as a fuel for cars, planes, trucks, and ships). Gevo announces that its project currently planned to be constructed at Lake Preston, South Dakota will be the first Net-Zero Project and will be named “Net-Zero 1.” Gevo expects that Net-Zero 1 would have the capability to produce liquid hydrocarbons that when burned have a “net-zero” greenhouse gas footprint.

Net-Zero 1 is currently expected to have a capacity of 45MGPY of hydrocarbons (for gasoline and jet fuel, based on current take-or-pay contracts), to produce more than 350,000,000 pounds per year of high protein feed products for use in the food chain, to produce enough renewable natural gas to be self-sufficient for the production process needs, and also to generate renewable electricity with a combined heat and power system. Net-Zero 1 is also expected to utilize wind energy.

Because of the low-carbon footprint feedstocks, the sustainable agricultural practices used to produce feedstock, and the use of renewable energy for the production processes, much of which is expected to be generated on-site, the hydrocarbon fuel products produced at Net-Zero 1 have the potential to achieve net-zero greenhouse gas emissions as measured across the whole of the lifecycle based on Argonne National Laboratory’s GREET model, the pre-eminent science-based lifecycle analysis model. The GREET model takes into account emissions and impacts “cradle to cradle” for renewable resource-based fuels including: inputs and generation of raw materials, agriculture practices, chemicals used in production processes of both feedstocks and products, energy sources used in production and transportation, and end fate of products, which for fuel products is usually burning to release energy.  

The capital cost for Net-Zero 1 is projected to be on the order of $700M including the hydrocarbon production and related renewable energy infrastructure which includes anaerobic digestion to produce biogas to run our plant and generate some electricity on-site. Citigroup is assisting Gevo in raising the necessary capital for Net-Zero 1.

“This is not a new project but rather the first of the projects that we have been working on with Citigroup to get financed. We are naming our future projects Net-Zero to make clear the mission we are on to reduce GHG emissions. By using carbon from the air as our raw material source with its inherent low-carbon footprint, sustainable agriculture, a combination of renewable energy obtained from photosynthesis, wind, and biogas, we see that it is possible to transform renewable energy into liquid hydrocarbon fuels that work with combustion engines typical of cars, planes, and trucks with the added benefit that these fuels have a net-zero carbon footprint across the whole lifecycle. Think about it: it is conceivable to eliminate tailpipe emissions from cars, planes and trucks on a net GHG basis, while leveraging existing cars, planes, and trucks on a full ‘cradle to cradle’ GHG basis. Our Net-Zero 1 Project isn’t just about capturing renewable energy and carbon, and transforming it into liquid renewable energy; it’s also about generating enormous quantities of protein, and nutrition for the food chain. The high protein feed would be low-carbon footprint too—and we are happy to help farmers raise beef, pigs, chicken, and dairy in a way that lowers GHG emissions. We’ve got work to do to make it all happen,” said Dr. Patrick R. Gruber, Chief Executive Officer, Gevo. “We believe that there will be demand for additional Net-Zero projects in the future,” Gruber continued.

About Gevo

Gevo has a mission to transform renewable energy into low-carbon transportation fuels. This next generation of renewable premium gasoline, jet fuel and diesel fuel with the potential to achieve zero carbon emissions, addressing the market need of reducing greenhouse gas emissions with sustainable alternatives. Gevo uses low-carbon renewable resource-based carbohydrates as raw materials, and is in an advanced state of developing renewable electricity and renewable natural gas for use in production processes, resulting in low-carbon fuels with substantially reduced carbon intensity (the level of greenhouse gas emissions compared to standard petroleum fossil-based fuels across their lifecycle). Gevo’s products perform as well or better than traditional fossil-based fuels in infrastructure and engines, but with substantially reduced greenhouse gas emissions. In addition to addressing the problems of fuels, Gevo’s technology also enables certain plastics, such as polyester, to be made with more sustainable ingredients. Gevo’s ability to penetrate the growing low-carbon fuels market depends on the price of oil and the value of abating carbon emissions that would otherwise increase greenhouse gas emissions. Gevo believes that its proven, patented, technology enabling the use of a variety of low-carbon sustainable feedstocks to produce price-competitive low carbon products such as gasoline components, jet fuel, and diesel fuel yields the potential to generate project and corporate returns that justify the build-out of a multi-billion-dollar business.

Gevo believes that Argonne National Laboratory GREET model is the best available standard of scientific based measurement for life-cycle inventory or LCI.

Learn more at our website: www.gevo.com

Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, including, without limitation, statements related to Gevo’s Net Zero Projects, Gevo’s Net-Zero 1 Project, Gevo’s plans and strategy, Gevo’s ability to achieve reductions in GHG emissions in the production of its liquid fuel products, the ability of Gevo’s liquid hydrocarbon fuel products to be dropped into existing supply chains and infrastructure, the Citigroup finance process, Gevo’s ability to raise capital to fund its projects, Gevo’s ability to produce its products, Gevo’s ability to realize revenue from its proposed projects, and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2019, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.

Investor and Media Contact

[email protected]

+1 720-647-9605