Posts

Posted on

Vibra Healthcare and Ernest Health Select Inovalon’s EASE® All-Payer Solution

Cloud-Based, SaaS Platform Empowers Increased Accuracy of Patient Data, Greater Administrative Efficiencies Across Commercial Payers and Medicare

BOWIE, Md., Nov. 17, 2020 (GLOBE NEWSWIRE) — Inovalon (Nasdaq: INOV), a leading provider of cloud-based platforms empowering data-driven healthcare, today announced separate 5-year agreements with two prominent post-acute care providers, Vibra Healthcare and Ernest Health. Inovalon’s services will enable greater administrative efficiency and increased accuracy of payment processes undertaken by Vibra Healthcare’s 34 facilities and Ernest Health’s 30 facilities, which offer inpatient rehabilitation hospital services, long-term acute care hospital services and skilled nursing across a combined 19 states.

Healthcare providers must maintain the highest standards in managing the many data submissions and processing pertaining to their delivery of clinical care, associated claims, payments and receivables from commercial payers and Medicare, using multiple platforms to manage the complex workflow. This is both time and labor intensive and can result in unnecessary staff work, patient data errors and lost revenue.

EASE® All-Payer combines a high-efficiency, cloud-based workflow engine with the industry’s broadest connectivity and advanced data intelligence to empower providers to efficiently manage the entire data and revenue cycle process of clinical encounter data, claims, and receivables accuracy from all commercial payers and Medicare on one integrated platform. Not only can providers using EASE® All-Payer achieve a 99% or higher clean claims rate thanks to client-specific, configurable payer rules and real-time eligibility integration, the application helps users gain operational insights and identify denial trends with advanced analytics and reporting. Within existing workflows in the EASE® All-Payer application, providers can receive and correct claims from Medicare and commercial payers, as well as receive and submit clinical documentation requests electronically directly from Medicare.

Under these agreements, Vibra Healthcare and Ernest Health will leverage EASE® All-Payer, a full-service, claims and denial management workflow software suite of functionalities that uniquely helps providers manage both commercial payers and Medicare, available as a Module within the Inovalon ONE® Platform. Leveraging data-driven routing and a sophisticated analytics engine powered by the Inovalon ONE® Platform, EASE® All-Payer is the only solution available within the marketplace today that provides direct access to the Centers for Medicare & Medicaid Services (CMS) to monitor, edit and analyze claims using a single platform. 

“Vibra Healthcare’s mission is to provide patient care with a commitment to clinical service excellence, a culture that inspires teamwork, and a passionate workforce driven by a dedication to patient wellness,” said Brad Hollinger, chief executive officer at Vibra Healthcare. “The implementation of EASE® All-Payer enables our staff to streamline and accelerate our administrative processes to enable a greater focus on clinical quality outcomes for our patients.”

“We are pleased to provide a data-driven Platform to support innovative providers such as Vibra Healthcare and Ernest Health to engage with payers and to manage their administrative processes in the most effective and efficient manner,” said Bud Meadows, president and general manager of Inovalon’s provider business. “Their ongoing commitment to a better patient experience reinforces our mission of helping to simplify the complexities of healthcare and improving clinical outcomes and financial performance throughout the healthcare ecosystem.”

About the Inovalon ONE

®

Platform

The Inovalon ONE® Platform is an integrated cloud-based platform of nearly 100 individual proprietary technology toolsets and deep data assets able to be rapidly configured to empower the operationalization of large-scale, data-driven healthcare initiatives. Each proprietary technology toolset, referred to as a Module, is informed by the data of billions of medical events within Inovalon’s proprietary datasets. Combinations of Modules are configured to empower highly differentiated solutions for client needs quickly and in a highly scalable fashion. The flexibility of the Platform’s modular design enables clients to integrate the Platform capabilities with their own internal capabilities or other third-party solutions. The Platform brings to the marketplace a highly extensible, national-scale capability to interconnect with the healthcare ecosystem on a massive scale, aggregate and analyze data in petabyte volumes, arrive at sophisticated insights in real time, and drive meaningful impact wherever it is analytically identified best to intervene and intuitively visualize data and information to inform business strategy and execution.

About Inovalon

Inovalon is a leading provider of cloud-based platforms empowering data-driven healthcare. Through the Inovalon ONE® Platform, Inovalon brings to the marketplace a national-scale capability to interconnect with the healthcare ecosystem, aggregate and analyze data in real time, and empower the application of resulting insights to drive meaningful impact at the point of care. Leveraging its Platform, unparalleled proprietary datasets, and industry-leading subject matter expertise, Inovalon enables better care, efficiency, and financial performance across the healthcare ecosystem. From health plans and provider organizations, to pharmaceutical, medical device, and diagnostics companies, Inovalon’s unique achievement of value is delivered through the effective progression of “Turning Data into Insight, and Insight into Action®.” Supporting thousands of clients, including 24 of the top 25 U.S. health plans, 22 of the top 25 global pharma companies, 19 of the top 25 U.S. healthcare provider systems, and many of the leading pharmacy organizations, device manufacturers, and other healthcare industry constituents, Inovalon’s technology platforms and analytics are informed by data pertaining to more than one million physicians, 565,000 clinical facilities, 324 million Americans, and 58 billion medical events. For more information, visit www.inovalon.com.

Contact:

Kim E. Collins
Senior Vice President, Corporate Communications
[email protected]
301-809-4000 x1473

Hulus Alpay
Vice President, Investor Relations
[email protected]
301-809-4000 x1237



Posted on

Field Trip Health Ltd. Announces Expansion to The Netherlands and Launch of Proprietary Truffle Program

The Field Trip Health Center in Amsterdam Will Focus on Providing Psychedelic Preparation and Integration Therapy with Legal Truffles Containing Psilocybin

AMSTERDAM, Nov. 17, 2020 (GLOBE NEWSWIRE) — Field Trip Health Ltd. (CSE: FTRP, OTCBB: FTRPF) (“Field Trip”), a global leader in the development and delivery of technology-enabled psychedelic therapies, announced today that it has entered into a lease and plans to open a Field Trip Health Center in Amsterdam, Netherlands. Located at Piet Heinkade 55 overlooking the IJhaven River, the 665 sqm (7158 sqft) Amsterdam location will be the first Field Trip Health center focused on therapeutic use of psychedelics using legal truffles. Field Trip expects to begin accepting people interested in participating in its truffle programs in December 2020, and the Netherlands location of Field Trip Health is expected to open in March 2021.

“Globally, we are in the midst of a mental health crisis, and The Netherlands is no exception. The prevalence of mental health issues is at all time highs and is being exacerbated by the COVID-19 pandemic. It is estimated that 30% of the Dutch population is experiencing some form of stress-related mental health challenge due to the pandemic,” said Prof. Dr. Jan J.L. Derksen, an advisor to Field Trip in The Netherlands. “Whereas big pharma has fallen short in terms of driving breakthroughs and innovation in mental health, innovative companies like Field Trip are filling the gap. With its truffle-based program embedded in science, therapy and guidance, Field Trip is advancing treatment options with healing psychedelic experiences, while at the same time investing heavily in its own R&D to advance new and exciting molecules to treat mental health issues.”

Studies from institutions such as Johns Hopkins, New York University and Imperial College London have demonstrated that psilocybin therapy, when performed by qualified professionals, can have profoundly positive effects on treating mental and emotional health challenges such as depression, anxiety, end of life distress and addiction. Similar studies have demonstrated that psychedelic therapies may also increase a person’s creativity, empathy, openness to others’ viewpoints and regard for the environment and planet.

“People from around the world have already travelled to The Netherlands to visit retreats providing ceremonial psychedelic experiences with truffles containing psilocybin,” said Onur Yildirim, PhD, Field Trip’s Director of Clinical Operations in The Netherlands. “But in order for these treatments to create the most significant impact and generate broader medical acceptance, they need to be professionalized. And that’s exactly what we are doing with our Field Trip Health Center in Amsterdam. All of our treatment programs with truffles will be administered by accredited and licensed therapists and psychologists and overseen by a licensed psychiatrist to provide the best possible experiences and effects on positive measures of health.”

The Field Trip Health Netherlands location will offer a variety of therapeutic programs using truffles containing psilocybin. Based on the desired experience, the center will offer several program options for individuals as well as couples.

The planned opening of The Netherlands location follows on the announcement in early November of Field Trip’s plans to establish operations in the State of Oregon following the passage of Measure 109 which will effectively create the first legal market for psilocybin therapies in North America.

“An essential part of our strategy is to constantly learn and innovate with all forms of legal psychedelic therapies,” said Ronan Levy, Field Trip’s Executive Chairman. “With this new location, we are going to leverage the experience, data and know-how developed by our clinical staff in our ketamine-enhanced therapy locations in Toronto, New York, Los Angeles and Chicago. We will translate that knowledge-base to the programs being offered in our Field Trip Health Center in Amsterdam. We will then use the collective experience to establish protocols for Oregon and beyond as new psychedelic therapies get legalized and approved.”


About Field Trip Health Ltd.

Field Trip is the global leader in the development and delivery of psychedelic therapies. With our Field Trip Discovery division leading the development of the next generation of psychedelic molecules and conducting advanced research on plant-based psychedelics, including psilocybin-producing fungi, and our Field Trip Health division building centers for psychedelic therapies opening across North America and Europe, along with the digital and technological tools that will enable massive scale, we help people, from those in treatment to those seeking accelerated personal growth, with a simple, evidence-based way to heal and heighten engagement with the world.

Learn more at https://www.fieldtriphealth.nl, https://www.fieldtriphealth.com and https://www.meetfieldtrip.com.

Follow us on Twitter and Instagram: @fieldtriphealth

People interested in learning more about Field Trip Health’s Netherlands location and its truffle programs can do so by email ([email protected]) or online at www.fieldtriphealth.nl.

To receive company updates about Field Trip and to be added to the email distribution list please sign up here.

For further information, contact Ronan Levy, Executive Chairman and a Director at Field Trip, at 1 (833) 833-1967.


Cautionary Note Regarding Forward-Looking Information.


This release includes forward-looking information within the meaning of Canadian securities laws regarding Field Trip and its business, which may include, but are not limited to, statements with respect to the listing of the common shares of Field Trip on the Canadian Securities Exchange, and the timing of such events. Often but not always, forward-looking information can be identified by the use of words such as “expect”, “intends”, “anticipated”, “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would” or “will” be taken, occur or be achieved. Such statements are based on the current expectations and views of future events of the management of Field Trip, and are based on assumptions and subject to risks and uncertainties. Although the management of Field Trip believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including risks regarding the COVID-19 epidemic, the medical clinic industry, market conditions, economic factors, management’s ability to manage and to operate the business and the equity markets generally. Although Field Trip has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Field Trip does not undertake any
obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

The CSE has neither approved nor disapproved the contents of this news release.

Media contacts:

Paige Tatulli
Autumn Communications
212-206-9780
[email protected] / [email protected]

Investor contacts:

Elizabeth Barker
KCSA Strategic Communications
212-896-1203
[email protected]

SOURCE Field Trip Health Ltd.



Posted on

Bell Mitsubishi Selects LoJack Connect to Improve the Customer Experience and Profitability

New Jersey Auto Dealer Leverages LoJack Connect Inventory Management, Connected Car and Stolen Vehicle Recovery Services to Increase Revenue

PR Newswire

IRVINE, Calif., Nov. 17, 2020 /PRNewswire/ — CalAmp® (Nasdaq: CAMP), a global technology solutions pioneer transforming the mobile connected economy, announced today that Bell Mitsubishi of Rahway, N.J. selected LoJack® Connect subscription services to improve its overall customer experience and profitability, while providing safety, security and peace of mind to its customers.

Bell Mitsubishi began utilizing LoJack’s stolen vehicle recovery (SVR) solutions in early 2020 before upgrading to LoJack Connect subscription services in late September. LoJack Connect now streamlines operations and enhances the onsite customer experience across Bell Mitsubishi and it is other two dealership location, Square One Auto andAston Martin Summit.

“The ability to have real-time location, battery status and other diagnostic data on all vehicles in our inventory has been invaluable to improving our onsite customer service,” said Alex Collantes, owner of Bell Mitsubishi. “Since onboarding LoJack Connect, we have been able to proactively offer maintenance and repair services to our customers with timely targeted marketing, and as a result, we’ve significantly increased our service revenue.”

The LoJack Connect offering is the most comprehensive suite of inventory management, SVR and connected car services available on the market today. LoJack Connect subscription services for consumers includes the LoJack® SureDrive™ connected car app featuring valuable automotive services such as:



  • CrashBoxx
    ®


    : Sends instant crash alerts to loved ones with trained U.S.-based agents available to help provide timely assistance and facilitate emergency response
  • Tripwire™ Early Warning: Enables proactive monitoring and alerts the consumer of unexpected car movement, such as when it is being towed or stolen
  • Stolen Vehicle Location Assist: Provides trained U.S.-based agents to coordinate directly with law enforcement to help track and locate a stolen vehicle
  • Virtual Boundaries: Allows owners to set easily configurable boundaries that send notifications when loved ones arrive at their destination
  • Speed Alerts: Enables parents to set a threshold and receive alerts if a loved one goes faster than they should
  • Trip History: Produces reports on past trips, locations, speed and miles traveled for business or personal use on any vehicle in the account
  • Where’s My Car: Delivers real-time location of your vehicle, whether driving or parked
  • Destination Search: Displays integrated and searchable landmarks such as emergency rooms, gas stations, car washes or other key destinations

Also available as part of the LoJack Connect offering is the LoJack® LotSmart™ inventory management system, which provides dealers with real-time alerts regarding the status of their vehicle inventory, including operating health, location (across multiple lots) and alerts when vehicles enter or exit certain areas.


LoJack SVR
 solutions remain the industry standards, backed by proven technology, a reliable network and deep and trusted law enforcement relationships spanning four decades. The LoJack Stolen Vehicle Recovery System consistently recovers more than 90% of stolen cars, trucks and SUVs, representing over $1 billion in vehicle value across the U.S. alone last year. *

“Dealerships nationwide, like Bell Mitsubishi, are upgrading to our LoJack Connect subscription services to build stronger customer loyalty and offer preventative services and maintenance in addition to the peace of mind that comes from LoJack’s industry-leading safety and security services,” said Justin Schmid, senior vice president, general manager of LoJack Global. “With greater visibility into their inventory and powerful, data-driven insights to better serve their customers, dealers can improve overall operations while generating higher service revenues and increased profitability.”

*Used car values are best estimates derived from NADA Guide web services values and clean retail value from NADAGuides.com for the make, model and year of the vehicle in the month it was recovered.

About LoJack and CalAmp

LoJack is a brand of CalAmp (Nasdaq: CAMP) and a leader in stolen vehicle recovery and innovative automotive services. CalAmp is a global technology solutions pioneer transforming the mobile connected economy. We help reinvent business and improve lives around the globe with technology solutions that streamline complex mobile IoT deployments and bring intelligence to the edge. Our software and subscription-based services, scalable cloud platform and intelligent devices collect and assess business-critical data from mobile assets and their contents. We call this The New How, facilitating efficient decision making, optimizing mobile asset utilization and improving road safety. Headquartered in Irvine, California, CalAmp has been publicly traded since 1983 and has 20 million products installed and over 1.3 million software and services subscribers worldwide. LoJack®, Tracker™ and Here Comes The Bus® are CalAmp brands. For more information, visit calamp.com, or LinkedIn, Facebook, Twitter, YouTube or CalAmp Blog. 

CalAmp, LoJack, TRACKER, Here Comes The Bus, Bus Guardian, iOn Vision and associated logos are among the trademarks of CalAmp and/or its affiliates in the United States, certain other countries and/or the EU. Any other trademarks or trade names mentioned are the property of their respective owners.

 

 

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/bell-mitsubishi-selects-lojack-connect-to-improve-the-customer-experience-and-profitability-301174129.html

SOURCE CalAmp; LoJack

Posted on

Equifax Appoints Lena Bourgeois as Automotive General Manager

PR Newswire

ATLANTA, Nov. 17, 2020 /PRNewswire/ — Equifax (NYSE: EFX) has named Lena Bourgeois as automotive general manager, responsible for driving customer value and accelerating company growth in the automotive market. Bourgeois brings a strong background in data and information technology systems to the position, critical as automotive dealers and lenders embrace a digital automotive experience and navigate a challenging economic environment.

“Lena has successfully led our Equifax automotive Enterprise Alliances for the last four years, working to grow our partner network and augment our robust portfolio of auto services and solutions,” said Joy Wilder Lybeer, United States Information Solutions (USIS) Chief Revenue Officer and Senior Vice President of Global Partnerships at Equifax. “We are committed to helping automotive dealers and lenders navigate today’s COVID-19 economy. Under Lena’s leadership, the Equifax automotive business is well positioned to help OEM, dealer and finance partners obtain the smarter insights they need to not only take action today, but to plan for a successful future.”

Bourgeois has held senior management positions within Equifax for nearly a decade. Prior to joining the Equifax Automotive team, she served as vice president of consumer markets for the Equifax IXI Network, where she led business development in the automotive, communications, insurance, restaurant, retail and travel/leisure industries. Bourgeois also held senior sales and business development roles with Nielsen and Claritas.

“Today’s automotive industry is as much about data, analytics and technology as it is about innovative vehicle designs,” said Bourgeois. “Equifax has positioned itself at the center of the digital automotive experience. I am truly excited about leading a team of dedicated automotive professionals committed to providing the best solutions for our customers and partners looking for a customer journey built on trust, satisfaction and growth.”

Bourgeois holds a bachelor’s degree in International Business and Marketing from Jönköping International Business School. She received a master’s degree in International Business from McGill University.

ABOUT EQUIFAX INC.

At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employees, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by more than 11,000 employees worldwide, Equifax operates or has investments in 25 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.com

 

FOR MORE INFORMATION

Kate Walker for Equifax USIS
[email protected]

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/equifax-appoints-lena-bourgeois-as-automotive-general-manager-301174416.html

SOURCE Equifax Inc.

Posted on

Praxis Precision Medicines Provides Update On PRAX-114 IND Submission For The Treatment Of Major Depressive Disorder

– Praxis expects to initiate Phase 2/3 clinical trial for PRAX-114 in MDD in 1H21 –

CAMBRIDGE, Mass., Nov. 17, 2020 (GLOBE NEWSWIRE) — Praxis Precision Medicines, Inc. (NASDAQ: PRAX), a clinical-stage biopharmaceutical company translating genetic insights into the development of therapies for central nervous system disorders characterized by neuronal imbalance, today announced that it has received comments from the U.S. Food and Drug Administration (FDA) on the full clinical hold of its Investigational New Drug (IND) submission for PRAX-114 for the treatment of major depressive disorder (MDD).

The IND for PRAX-114 was placed on clinical hold by the FDA pending the resolution of certain non-clinical pharmacology and toxicology matters. In its comment letter, the FDA proposed that the Company conduct further toxicological investigation of the effect of PRAX-114 and its metabolites on fertility, reproduction, and embryofetal development to support the planned trial. The Company believes that the results of its ongoing standard fertility and reproductive studies, expected to be completed in the first quarter of 2021, together with the available toxicology package will satisfy the FDA request. The FDA also requested updates to the Investigator’s Brochure and to the requirements for contraception in the protocol.

The Company now expects to initiate the randomized, placebo-controlled Phase 2/3 clinical trial for PRAX-114 in MDD in the first half of 2021. The Company is in dialogue with the FDA and intends to explore potential options to accelerate the initiation of the Phase 2/3 clinical trial.

About Praxis

Praxis Precision Medicines is a clinical-stage biopharmaceutical company translating genetic insights into the development of therapies for central nervous system disorders characterized by neuronal imbalance. Praxis is applying insights into the genetic mutations that drive excitation-inhibition imbalance in diseases to select biological targets for severe pediatric epilepsies and more broadly for prevalent psychiatric diseases and neurologic disorders. Praxis has established a broad portfolio, including five disclosed programs across multiple central nervous system disorders including, depression, epilepsy, movement disorders and pain syndromes, with three clinical-stage product candidates.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, implied and express statements regarding the Company’s expectations regarding the timing in which it will receive additional communications regarding the clinical hold on its IND submission for PRAX-114 from the FDA. The words “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “seek,” “predict,” “future,” “project,” “potential,” “continue,” “target” and similar words or expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements in this press release are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, risks associated with: the timing and outcome of the Company’s planned interactions with regulatory authorities, including resolution of the current PRAX-114 clinical hold; the timing and anticipated results of our current preclinical studies and future clinical trials, strategy and future operations; the impact of COVID-19 on countries or regions in which we have operations or do business; the delay of any current preclinical studies or future clinical trials or the development of Praxis’ drug candidates; the risk that the results of current preclinical studies may not be predictive of future results in connection with future clinical trials; Praxis’ ability to successfully demonstrate the safety and efficacy of its drug candidates; and obtaining, maintaining and protecting its intellectual property. These and other risks and uncertainties are described in greater detail in the section entitled “Risk Factors” in Praxis’ final prospectus related to its initial public offering, dated October 20, 2020, as well as discussions of potential risks, uncertainties, and other important factors in Praxis’ subsequent filings with the Securities and Exchange Commission. In addition, any forward-looking statements represent Praxis’ views only as of today and should not be relied upon as representing its views as of any subsequent date. Praxis explicitly disclaims any obligation to update any forward-looking statements. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements.

 



Investor Contact:
Alex Kane
[email protected]
617-300-8481

Media Contact:
Ian Stone
[email protected]
619-849-5388

Posted on

NASA Unveils New Research Progress for Human Mission to the Moon With Supercomputer Powered by Hewlett Packard Enterprise

NASA Unveils New Research Progress for Human Mission to the Moon With Supercomputer Powered by Hewlett Packard Enterprise

NASA’s Aitken supercomputer provides powerful modeling and simulation capabilities to support critical research for a safe and successful spaceflight for the next return-to-moon by 2024

SAN JOSE, Calif.–(BUSINESS WIRE)–Hewlett Packard Enterprise (HPE) today announced that NASA highlighted new research progress to support the next human landing on the moon by performing complex simulations on NASA’s Aitken supercomputer, which is powered by HPE. New research, which includes understanding the booster separation event and launch environment at Kennedy Space Center during lift-off, will help NASA’s engineers prepare for a safe and successful spaceflight as part of NASA’s Artemis mission set to launch in 2024.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201117005344/en/

NASA’s Modular Supercomputing Facility, where its Aitken supercomputer is housed, at NASA’s Ames Research Center in Mountain View, California. Image credit: NASA Ames Research Center

NASA’s Modular Supercomputing Facility, where its Aitken supercomputer is housed, at NASA’s Ames Research Center in Mountain View, California. Image credit: NASA Ames Research Center

HPE also announced today that it expanded NASA’s Aitken supercomputer with HPE Apollo systems that are purpose-built for compute-intensive modeling and simulation needs. The expansion of computational power, which will be operational in January 2021, supports NASA’s ongoing research involving computational fluid dynamics (CFD) that are critical to understanding aerodynamic events.

“At HPE, we are inspired by breakthroughs in scientific research that leverage our high-performance computing technologies. The researchers and engineers at NASA’s Ames Research Center continue to push boundaries to advance space flight,” said Bill Mannel, vice president and general manager, HPC, at HPE. “We are honored to continue collaborating with NASA and play a role in a historical moment by further expanding NASA’s Aitken supercomputer with HPE Apollo systems to accelerate time-to-insight and safely land the first woman and the next man on the moon.”

NASA’s Aitken Supercomputer Increases Computational Power and Drives Efficiency

NASA’s Modular Supercomputing Facility, where its Aitken supercomputer is housed, at NASA’s Ames Research Center in Mountain View, California

NASA’s Aitken supercomputer was built by HPE in August 2019 to support NASA missions, including research for the Artemis program, a mission to land the first woman and next man on the lunar South Pole region by 2024.

NASA’s Aitken is housed in the first of 12 computer modules in the Modular Supercomputing Facility (MSF), jointly developed by NASA and HPE, to drive greater efficiency and significantly reduce electricity and water use. As a result, NASA’s Aitken supercomputer, during its first year of operation, consumed only 16% of the energy needed for cooling, saving over $100K in costs and 1.4 million kilowatt-hours. It also reduced water usage, used to cool the supercomputer, by 91%, saving over one million gallons of water per day.

The supercomputer will expand with HPE Apollo systems using 2nd Gen AMD EPYC processors to provide advanced compute power to support ongoing research.

NASA’s Aitken Supercomputer Advances Research Progress for Return-to-Moon Mission

NASA’s Aitken supercomputer has already helped researchers make progress for the Artemis mission in the following areas:

Develop an Aerodynamic Database for Possible Events during the Artemis Booster Separation

NASA’s engineers need to understand possible events that could occur during booster separation from the core of the Artemis rocket during liftoff, which is critical to the safety of the crew and success of the mission. NASA considers the possibilities that the two solid rocket boosters (SRBs), developed for the mission, will strike the core center or each other during the separation event.

To simulate and model all variables during separation events during the Artemis mission, NASA has developed a database of aerodynamic data to showcase possible positioning of the boosters during separation. By applying computational fluid dynamics (CFD) tools using NASA’s Aitken supercomputer and accounting for 22 different engine rocket plumes, which are moving hot exhaust gases, researchers were able to develop a database of 13 independent variables to model all possible in-flight events during booster separation. The project can be viewed here.

The expansion to NASA’s Aitken supercomputer will enable even more detailed and comprehensive databases to improve accuracy in analysis for a safer flight.

Understanding the Launch Environment at the Kennedy Space Center

The Artemis mission is set to launch at the Kennedy Space Center in Merritt Island, Florida. NASA’s researchers need to understand the effects of ignition overpressure (IOP) and duct overpressure (DOP) waves that are caused by the rapid expansion of gas from the rocket nozzle during launch.

NASA’s Launch, Ascent, and Vehicle Aerodynamics (LAVA) team has been using NASA’s Aitken supercomputer to apply computational fluid dynamics (CFD) to simulate these waves and how they interact with the launch vehicle to examine any potential dangers to the mission.

The ongoing analysis helps NASA’s engineers make advancements to the design of the launch environment. With the expanded Aitken supercomputer, researchers will gain additional compute power to further improve time-to-solution for the launch pad redesign to accommodate the Space Launch System. The project can be viewed here.

To learn more about NASA’s research progress and view simulations, please visit https://www.nas.nasa.gov/SC20/home.html

To learn more about HPE’s supercomputing solutions, please visit: https://www.hpe.com/us/en/compute/hpc/supercomputing.html

About Hewlett Packard Enterprise

Hewlett Packard Enterprise is the global edge-to-cloud platform-as-a-service company that helps organizations accelerate outcomes by unlocking value from all of their data, everywhere. Built on decades of reimagining the future and innovating to advance the way we live and work, HPE delivers unique, open and intelligent technology solutions, with a consistent experience across all clouds and edges, to help customers develop new business models, engage in new ways, and increase operational performance. For more information, visit: www.hpe.com.

  1. NASA’s research progress using its Aitken supercomputer is based on the first deployment of the HPE SGI 8600

AMD, the AMD Arrow logo, EPYC and combinations thereof are trademarks of Advanced Micro Devices, Inc

Editorial contact

[email protected]

Nahren Khizeran, HPE

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Science Software Research Hardware Data Management Technology Aerospace Manufacturing

MEDIA:

Photo
Photo
The Launch Complex 39B at Kennedy Space Center (KSC) shows a simulation of exhaust gas flow from the Space Launch System (SLS) during launch. Image credit: NASA Ames Research Center
Photo
Photo
NASA’s Modular Supercomputing Facility, where its Aitken supercomputer is housed, at NASA’s Ames Research Center in Mountain View, California. Image credit: NASA Ames Research Center
Photo
Photo
Artemis-II vehicle view with simulating boosters that are 75 feet downstream of their stowed position. Image credit: NASA Ames Research Center
Posted on

Skanska builds new infrastructure at Los Angeles International Airport, California, USA, for USD 335 M, about SEK 2.9 billion

PR Newswire

ÖSTERSUND, Sweden, Nov. 17, 2020 /PRNewswire/ — Skanska has signed a contract with Los Angeles World Airports (LAWA) to serve as the design-builder for the airport authority’s Roadways, Utilities and Enabling (RUE) project. The contract is worth USD 335 M, about SEK 2.9 billion, which will be included in the US order bookings for the fourth quarter of 2020.

The RUE project supports the next phase of high-priority enabling work for LAWA’s Landside Access Modernization Program (LAMP), which aims to relieve congestion for people traveling to and from the third busiest airport in the world and second busiest in the U.S. This enabling work is critical for advancing LAMP projects including the Automated People Mover (APM), Consolidated Rent-A-Car (ConRAC) facility and Intermodal Transportation Facility (ITF)-West.   

Construction begins in Q4 2020 with completion expected in Q4 2025. Arup is the lead designer.

Skanska is one of the leading construction and development companies in USA, specializing in building construction, civil infrastructure and developing commercial properties in select U.S. markets. Skanska USA had sales of SEK 74 billion and about 7,900 employees in its operations in 2019.

For further information please contact:

Yena Williams, Communications Director, Skanska USA, tel +1 213-514-2918

Olof Rundgren, Media Relations Manager, Skanska AB, tel +46 (0)10 448 67 94

Direct line for media, tel +46 (0)10 448 88 99

This and previous releases can also be found at

www.skanska.com
.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/skanska/r/skanska-builds-new-infrastructure-at-los-angeles-international-airport–california–usa–for-usd-335,c3238119

The following files are available for download:


https://mb.cision.com/Main/95/3238119/1335860.pdf

20201117 US infrastructure airport LA

 

Cision View original content:http://www.prnewswire.com/news-releases/skanska-builds-new-infrastructure-at-los-angeles-international-airport-california-usa-for-usd-335-m-about-sek-2-9-billion-301174683.html

SOURCE Skanska

Posted on

Mogo Expands Into Global B2B Fintech Market with Acquisition of Digital Payments Technology Company Carta Worldwide

Mogo Expands Into Global B2B Fintech Market with Acquisition of Digital Payments Technology Company Carta Worldwide

Transformational deal combines leading Canadian fintech with over 1 million members with next-gen payments technology platform that processed over $4.0 billion in transaction volume in 2019

Adds B2B payments platform addressing the $2.5 trillion global payments market1, with over 85% of Carta revenue generated from International markets outside of Canada

All-stock transaction with no shares distributed to Carta shareholders until the earlier of Mogo’s 10-day vwap on the TSX reaching $7.45 or December 2021

All figures in Canadian $

VANCOUVER, British Columbia–(BUSINESS WIRE)–Mogo Inc. (TSX:MOGO) (NASDAQ:MOGO) (“Mogo” or the “Company”), a financial technology company focused on empowering consumers with innovative digital financial solutions that help them get in control of their financial health, today announced it has reached a definitive agreement (the “Agreement”) to acquire Carta Solutions Holding Corporation, also known as Carta Worldwide (“Carta”), a leader in providing next-gen digital payments solutions, in an all-stock transaction by way of a plan of arrangement (the “Transaction”). The combination creates one of Canada’s largest vertically integrated fintech companies and significantly expands the Company’s addressable market by entering into the $2.5 trillion global digital payments market.

Carta’s modern issuing platform is the engine behind innovative fintech companies and products around the globe, powering over 100 card programs and providing vital processing technology to industry leaders including TransferWise, Sodexo, Payfare, and others. Founded in 2007, Carta’s management team has decades of payments and technology industry experience. Carta is currently operating in Europe, Asia and Canada and recently expanded into the U.S. market. Carta, which has 70 employees, generated approximately $8.5 million of revenue in 2019, over 85% of which was from international markets outside of Canada.

Management Commentary

“Carta has created award-winning digital transaction processing technologies for the fast-growing market for next-generation payments programs, and we’re thrilled to add them to the Mogo platform,” said David Feller, Mogo’s Founder and CEO. “By using Carta’s payment processing engine, we expect to enhance Mogo’s digital wallet capabilities which includes the development of our upcoming peer-to-peer payment solution, and – when combined with our digital front-end capabilities – we see great opportunity to power the next generation of platforms globally.”

Peter Kaju, CEO of Carta, commented: “We’re excited to be combining with one of the pioneers in fintech and a leader in Canada. We see tremendous opportunity to accelerate the growth of our respective businesses by combining resources and capabilities.”

Greg Feller, President and CFO of Mogo, added: “This transformational transaction further enhances Mogo’s position as one of Canada’s leading fintech companies, accelerates the growth of our subscription & transaction-based revenue, and expands Mogo’s TAM into the $2.5 trillion global payments business. With the sale earlier this year of our consumer instalment loan portfolio, along with the recent launch of our MogoSpend account, referral partnerships and upcoming launch of our P2P payments platform, the Carta transaction further positions Mogo for accelerating revenue growth in 2021. In addition, as we continue to expand our platform and leadership position, we expect to evaluate additional technology and product acquisition opportunities going forward.”

Strategic Rationale & Transaction Highlights

  • Accelerates Mogo’s transformation to a broader digital wallet and payments technology business: Following the completion of the transaction, Mogo will integrate Carta’s transaction processing technology with its current MogoSpend product (which comes with a Mogo Visa* Platinum Prepaid Card). Mogo will also leverage Carta’s technology and capabilities to launch its previously announced mobile peer-to-peer payment solution (targeted for H1 2021).
  • Provides Carta with the ability to cross-sell Mogo’s front-end digital platform to provide enhanced value to customers: Adding Mogo’s mobile-first digital platform and app to Carta’s digital transaction processing platform, creates a powerful, vertically integrated offering for Carta’s fintech, bank and corporate clients that are issuing innovative payment solutions.
  • Increased revenue scale, diversification, and entry into the global B2B fintech market: The acquisition of Carta adds scale and diversification to Mogo’s high-margin subscription and services revenue and provides entry to the B2B fintech market. In 2019, Carta generated approximately $8.5 million of payments & transaction revenue from corporate customers. In 2019, both Mogo and Carta were named among Canada’s Top 50 FinTech Companies by the Digital Finance Institute.
  • Global reach and increased addressable market: Together, the companies will have a presence in over 40 countries and target a$2.5 trillion addressable market. More than 85% of Carta’s revenue comes from outside Canada. including Europe and Asia, along with its recent expansion into the massive U.S. payments market.
  • Highly supportive management teams and aligned shareholder base: Carta’s senior management, board members, and key outside shareholders, representing more than 60% of each class of Carta’s outstanding securities, have entered into voting and support agreements. On closing, Chris Payne, Carta’s lead director, is expected to join Mogo’s board of directors and Carta’s executive team will continue to run the operations as part of Mogo. The executive team and shareholders of Carta are highly aligned and incentivized to drive shareholder value, with 100% of the consideration going into a limited partnership and no shares will begin to be distributed to Carta shareholders, including management, before the earlier of (i) 10-day volume-weighted average price of common share of Mogo (“Mogo Shares”) on the TSX being equal to $7.45 per share or higher or (ii) December 2021 (refer to ‘Terms of the Transaction’).

Terms of the Transaction

Under the terms of the Agreement, Mogo will acquire 100% of the outstanding shares of Carta in exchange for the issuance of 10 million common shares (“Mogo Shares”), which is equal to a purchase price of $24.2 million based on the closing price of the Mogo Shares on the TSX on November 16, 2020. These shares will go into a limited partnership that will not begin to be distributed to current Carta shareholders, including management, until the earlier of the 10-day volume-weighted average price of Mogo Shares on the Toronto Stock Exchange being equal to (i) $7.45 per share or higher or (ii) December 2021. On a Pro Forma basis, Carta shareholders will own approximately 18% of Mogo’s fully diluted shares.

The proposed Transaction will be completed pursuant to a plan of arrangement under the Canada Business Corporations Act, which will require court approval and the approval of not less than 2/3 of the holders of each class of Carta securities. Pursuant to the requirements of the TSX, the Transaction will need to be approved by 50% of the votes cast by Mogo shareholders at a special meeting of shareholders, which is expected to be held in January 2021. An information circular detailing the terms and conditions of the Transaction will be filed with regulatory authorities and mailed to the shareholders of Mogo in accordance with applicable securities laws. The Transaction will also be subject to regulatory approvals, in addition to other customary closing conditions, and is expected to close in the first quarter of 2021. The Arrangement Agreement includes customary deal-protection provisions, including non-solicitation of alternative transactions and break fees payable by Mogo and Carta, respectively, under certain circumstances.

Mogo’s Board of Directors have determined that the proposed transaction is in the best interest of the shareholders and have unanimously approved the Transaction. Mogo’s Board of Directors recommends that their shareholders vote in favor of the proposed transaction.

* Trademark of Visa International Service Association and used under licence by Peoples Trust Company. Mogo Visa Platinum Prepaid Card is issued by Peoples Trust Company pursuant to licence by Visa Int. and is subject to Terms and Conditions, visit mogo.ca for full details. Your MogoCard balance is not insured by the Canada Deposit Insurance Corporation (CDIC). MogoSpend is only available to MogoMembers with an activated MogoCard. MogoCard means the Mogo Visa Platinum Prepaid Card.

1McKinsey & Company, Global Banking Practice, “The 2020 McKinsey Global Payments Report”. October 2020.

About Mogo

Mogo — a financial technology company — offers a finance app that empowers consumers with simple solutions to help them get in control of their financial health and be more mindful of the impact they have on society and the planet. We all know it’s time to do things differently. It’s time for a new way to manage our money, one that’s inclusive and sustainable. One that takes into account our financial health, the planet’s health and the health of our society. At Mogo, users can sign up for a free account in only three minutes and begin to learn the 4 habits of financial health and get convenient access to products that can help them achieve their financial goals and have a positive impact on the planet including a digital spending account with Mogo Visa* Platinum Prepaid Card featuring automatic carbon offsetting, free monthly credit score monitoring, ID fraud protection and personal loans. Members can also easily buy and sell bitcoin 24/7 through the Mogo app, as well as participate in Mogo’s new bitcoin rewards program. The Mogo platform has been purpose-built to deliver a best-in-class digital experience, with best-in-class products all through one account. With more than one million members and a marketing partnership with Canada’s largest news media company, Mogo continues to execute on its vision to gamify financial health and become the go-to financial app for the next generation of Canadians. To learn more, please visit mogo.ca or download the mobile app (iOS or Android).

Mogo Cautionary Statement

This news release may contain “forward-looking statements” that relate to Mogo’s current expectations and views of future events. In some cases, these forward-looking statements can be identified by words or phrases such as “may”, “might”, “will”, “expect”, “anticipate”, “estimate”, “intend”, “plan”, “indicate”, “seek”, “believe”, “predict” or “likely”, or the negative of these terms, or other similar expressions intended to identify forward-looking statements. Mogo has based these forward-looking statements on its current expectations and projections about future events that it believes might affect its financial condition, results of operations, business strategy and financial needs. These forward-looking statements include, among other things, statements relating to completion of the Transaction, receipt of required shareholder and regulatory approvals for the Transaction, court approval of the Arrangement, the holding of the Mogo shareholder meeting and the mailing of the Mogo circular.

Forward-looking statements are based on certain assumptions and analyses made by Mogo in light of the experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate and are subject to risks and uncertainties. Although we believe that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and we cannot assure that actual results will be consistent with these forward-looking statements. Given these risks, uncertainties and assumptions, any investors or users of this document should not place undue reliance on these forward-looking statements.

The forward-looking statements made in this news release relate only to events or information as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Except as required by law, we do not assume any obligation to update or revise any of these forward-looking statements to reflect events or circumstances after the date of this news release, including the occurrence of unanticipated events. An investor should read this news release with the understanding that our actual future results may be materially different from what we expect.

Craig Armitage

Investor Relations

[email protected]

(416) 347-8954

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: Professional Services Environment Technology Other Technology Software Finance Banking

MEDIA:

Posted on

Todos Medical Announces Clinical Validation and National CLIA Certification for MOTO+PARA Mobile High Complexity Labs

NEW YORK, NY, TAMPA, FL and BATON ROUGE, LA, Nov. 17, 2020 (GLOBE NEWSWIRE) — via NewMediaWire —Todos Medical (OTCQB: TOMDF), an in vitro diagnostics company focused on distributing comprehensive solutions for COVID-19 screening and diagnosis, and developing blood tests for the early detection of cancer and Alzheimer’s disease, today announced the completion of clinical validation and CLIA certification for MOTO+PARA’s mobile lab. The Company’s mobile CLIA lab partner, Integrated Health LLC, has fully validated the clinical performance of the proprietary COVID-19 RT-PCR laboratory testing process performed in MOTO+PARA’s Mobile High Complexity Labs built to biosafety level 3 (BSL3), and has received the approval needed to begin offering COVID-19 screening and analysis as a service to clients anywhere in the United States. Rapid antigen and antibody testing also have been validated and are now ready to be deployed. MOTO+PARA is prepared to accept contracts from prospective clients immediately.

“We are thrilled to begin testing anywhere in the United States and worldwide with our first-of-their-kind mobile labs,” said Eric Canonico, CEO of MOTOPARA Foundation. “With the recent surge of COVID-19 cases, the upcoming holidays predicted to further drive case counts, and the need to pair COVID-19 testing with other tests and emerging vaccination programs, our highly scalable mobile lab solutions are exactly what is needed to address the challenges COVID-19 has placed on existing testing infrastructure. MOTO+PARA is prepared to deploy rapid antigen and antibody tests in addition to diagnostic testing with our onsite RT-PCRs, which can turn results around in as little as 4 hours.”

“We are confident that the validations we have completed and the systems we have implemented will enable high scalability for our mobile labs,” said Jeff Faucheaux, CEO of Integrated Health. “Being able to bring these all-encompassing COVID-19 testing solutions directly to the people will improve the end-to-end testing experience for the patient. This allows us to significantly reduce turnaround times for PCR testing and improve the value of each test we provide because the results will be available more quickly than with traditional lab methodologies.”

“The strategy of deploying all available testing solutions in the nation’s first high complexity mobile labs allows us to assist MOTO+PARA in designing COVID-19 surveillance programs that will meet the diverse needs of different constituents who need access to testing for a myriad of use cases that have emerged since the pandemic began,” said Gerald E. Commissiong, President & CEO of Todos Medical. “Whether it is making highly sensitive PCR testing available to government entities with turnaround times fast enough to dramatically reduce infection risk, screening fans before entering a stadium for sporting events, or supporting disaster relief efforts to ensure emergency responders are working in a COVID-free environment, we believe these mobile labs are the solution to many of the nation’s testing challenges. This distribution channel will also allow us to rapidly commercialize emerging novel COVID-19 lab-based testing and monitoring technologies we expect to come to market in the months ahead. “

For information related to Todos Medical’s COVID-19 testing capabilities, please visit www.todoscovid19.com

For testing and PPE inquiries, please email [email protected] .

About MOTOPARA Foundation, Inc.

MOTOPARA Foundation, Inc. dba MOTOPARA Foundation™, MOTOPARA™ and MOTO+PARA™ is based in Tampa, Florida, USA, as a not-for-profit corporation incorporated in 2010 as a 501(c)(3), non-profit Private Operating Foundation (POF) under the U.S. Internal Revenue Code. MOTOPARA Foundation serves as an non-governmental organization (NGO) dedicated to the research, development, education and implementation of mobility logistics for Global Disaster First Response™, and healthy sustainable lives connected with sciences, technology, engineering, arts and math, and the professions encompassing such sustainable and renewable resources both domestically and internationally.

MOTO+PARA™ is a neutral nonpartisan NGO providing an elite, asset-based logistics and mobility solution for search and rescue (SAR), reconnaissance (RECON), disaster response and humanitarian relief. It assists fellow NGOs, government agencies and foreign nations in rapid response and secure transport of personnel, supplies, and victims of urgent emergencies and disasters. MOTO+PARA employs full-time Veteran Special Operations Operators and Veterans of Special Operations Support and Logistics Operations who perform mission critical responses utilizing the extensive training and experience gained from their Military service. MOTO+PARA responds by air, sea, and land to get to “ground zero” of a crisis anywhere in the world, using equipment to clear paths and push through to disaster sites while also providing coordinated communications support, power, water, and protection.

MOTO+PARA’s COVID-19 Response is part of its Biological Protective Services & Response Division, which can serve countries around the world with its Mobile High Complexity Laboratories built to BSL-3 specifications, developed jointly with Integrated Health LLC.

www.motopara.org

About Integrated Health LLC

Integrated Health LLC, based in Baton Rouge, Louisiana, USA, is a health management solutions company with a mobile medical laboratory division that is the first CLIA-certified high complexity mobile laboratory built to BSL-3 specification in the western hemisphere. Integrated Health specializes in ensuring all communities have access to testing and laboratory services, whether urban, rural or extreme remote locations domestically and internationally. Integrated Health’s goal is to become the most innovative and biologically diverse company in the world, and offers an extensive array of testing to meet any community’s diagnostics testing needs.

www.integrated-health.com

About Todos Medical Ltd.

Headquartered in Rehovot, Israel, Todos Medical Ltd. (OTCQB: TOMDF) engineers life-saving diagnostic solutions for the early detection of a variety of cancers. The Company’s state-of-the-art and patented Todos Biochemical Infrared Analyses (TBIA) is a proprietary cancer-screening technology using peripheral blood analysis that deploys deep examination into cancer’s influence on the immune system, looking for biochemical changes in blood mononuclear cells and plasma. Todos’ two internally-developed cancer-screening tests, TMB-1 and TMB-2, have received a CE mark in Europe. Todos recently entered into an exclusive option agreement to acquire U.S.-based medical diagnostics company Provista Diagnostics, Inc. to gain rights to its Alpharetta, Georgia-based CLIA/CAP certified lab and Provista’s proprietary commercial-stage Videssa® breast cancer blood test. The transaction is expected to close in the third quarter of 2020.

Todos is also developing blood tests for the early detection of neurodegenerative disorders, such as Alzheimer’s disease. The Lymphocyte Proliferation Test (LymPro Test™) is a diagnostic blood test that determines the ability of peripheral blood lymphocytes (PBLs) and monocytes to withstand an exogenous mitogenic stimulation that induces them to enter the cell cycle. It is believed that certain diseases, most notably Alzheimer’s disease, are the result of compromised cellular machinery that leads to aberrant cell cycle re-entry by neurons, which then leads to apoptosis. LymPro is unique in the use of peripheral blood lymphocytes as a surrogate for neuronal cell function, suggesting a common relationship between PBLs and neurons in the brain.

Additionally, Todos has entered into distribution agreements with companies to distribute certain novel coronavirus (COVID-19) test kits. The agreements cover multiple international suppliers of PCR testing kits and related materials and supplies, as well as antibody testing kits from multiple manufacturers after completing validation of said testing kits and supplies in its partner CLIA/CAP certified laboratory in the United States. Todos has formed strategic partnerships with Integrated Health LLC, and MOTOPARA Foundation to deploy mobile COVID-19 testing and lab analysis in the United States.

For more information, please visit https://www.todosmedical.com/.

Forward-looking Statements

Certain statements contained in this press release may constitute forward-looking statements. For example, forward-looking statements are used when discussing our expected clinical development programs and clinical trials. These forward-looking statements are based only on current expectations of management, and are subject to significant risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements, including the risks and uncertainties related to the progress, timing, cost, and results of clinical trials and product development programs; difficulties or delays in obtaining regulatory approval or patent protection for product candidates; competition from other biotechnology companies; and our ability to obtain additional funding required to conduct our research, development and commercialization activities. In addition, the following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: changes in technology and market requirements; delays or obstacles in launching our clinical trials; changes in legislation; inability to timely develop and introduce new technologies, products and applications; lack of validation of our technology as we progress further and lack of acceptance of our methods by the scientific community; inability to retain or attract key employees whose knowledge is essential to the development of our products; unforeseen scientific difficulties that may develop with our process; greater cost of final product than anticipated; loss of market share and pressure on pricing resulting from competition; and laboratory results that do not translate to equally good results in real settings, all of which could cause the actual results or performance to differ materially from those contemplated in such forward-looking statements. Except as otherwise required by law, Todos Medical does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risks and uncertainties affecting Todos Medical, please refer to its reports filed from time to time with the U.S. Securities and Exchange Commission.

Todos Investor Contact:

Kim Sutton Golodetz

LHA Investor Relations

Senior Vice President

(212) 838-3777

[email protected]

Todos Corporate Contact:

Priyanka Misra

Todos Medical

(917) 983-4229 ext. 103

[email protected]

Media Contact:

Paula Angel-Jones

MOTOPARA Foundation

(813) 956-2458

[email protected]

Attachment



Posted on

Zoomd Reports Q3 2020 Results: Quarterly revenue growth of 12% year-over-year and up 17% quarter-over-quarter while reaching the first development milestone in releasing its self-serve SaaS product

PR Newswire

VANCOUVER, British Columbia, Nov. 17, 2020 /PRNewswire/ — Zoomd Technologies Ltd. (TSXV: ZOMD) (OTC: ZMDTF) (https://www.zoomd.com) and its wholly-owned subsidiary Zoomd Ltd. (collectively, “Zoomd” or the “Company“), the marketing tech (MarTech) user-acquisition and engagement platform, today reported financial results for the threeand nine months ended September 30, 2020. The interim financial statements and interim MD&A are available on SEDAR under the Company’s profile.

 

Zoomd Logo

 

“Weare excited to return to revenue growth, as some sectors return and increased their marketing budgets” said Ofer Eitan, Zoomd’s CEO, adding “Furthermore, webeen successful in attracting new clients in sectors such as E-commerce and FinTech who havebenefitted from the COVID-19 pandemic. Based on our most recent results, we believe that the markets are in the midst of a recovery from the disruptions caused by the COVID-19 pandemic. The rebound is scaling with our existing customers is testament to the strong return on investment we provide them.

Mr. Eitan further noted that “We remain on track with regards to the release of our Self-serve SaaS product during Q4 2020, and a full-scale launch expected during 2021. We remain excited about the product given its high margin and scalability potential. In October, we released the first version of our Self-Serve SaaS product and are progressing towards second milestone on the product roadmap, betarelease to collect customer feedback, during Q1 2021. As such, during the third quarter we pushed and increased even more our investment in R&D, however we expect R&D expenses to decrease to normalized levels in 2021.”

Mr. Eitan concluded by stating that “We are more excited than ever about Zoomd’s growth prospects going forward. We continue to have high customer retention levels and in recent months, have accelerated new customer growth. We believe that our ability to reach and service customers will expand exponentially as we roll out our Self-Serve SaaS product. From a financial standpoint we remain strong, with no debt and a robust balance sheet.”



THIRD QUARTER 2020 HIGHLIGHTS (ALL FIGURES ARE IN US$)

  • Total revenue for the three months ended September 30, 2020 was $6.6 million compared to $5.9 million for the same period in 2019, an increase of 12%. The increase in revenues was primarily attributed to the increase in activity of existing customers and the Company penetrating into verticals that have benefitted from the COVID-19 pandemic, such as E-commerce and FinTech.
    As a result of the foregoing, quarter-over-quarter revenue growth was at 17%.
  • Cost of sales and services for the three months ended September 30, 2020 was $4.6 million, representing an increase of approximately 15% compared to the same period in 2019. The increase was primarily attributed to the increase in revenues.
  • Gross profit margin (revenue less cost of sales and services) of 31% compared to 32% for the same period in 2019. The decrease in gross margin was primarily attributable to increase in the sale of services that have lower margins relative to the other products and services offered by the Company. 
  • Net loss for the three months ended September 30, 2020 was $1.5 million compared to net loss of $2.7 million for the three months ended September 30, 2019. The decrease in net loss was primarily attributed to the expenses incurred during 2019 related to mark-to-market adjustment of convertible debt securities that took place immediately prior to the closing of the qualifying transaction.
  • Adjusted EBITDAof $(850) thousand for the three months ended September 30, 2020 compared to Adjusted EBITDA of $(380) thousand for the same period in 2019. The increase in the operating losses for the three months ended September 30, 2020 was primarily attributed to the Company’s growth plan causing an increase in research & development expenses due to the Company’s stages of developing the Company’s new Self-serve SaaS platform.
  • As of September 30, 2020, the Company’s cash and cash equivalents amounted to $3 million compared to $5.9 million for the same period in 2019.
  • As of September 30, 2020, the Company had working capital of $1.7 million, compared to approximately $5.8 million as of September 30, 2019.

Non-IFRS Measures

This press release refers to “Adjusted EBITDA” which is a non-GAAP and non-IFRS financial measure that does not have a standardized meaning prescribed by GAAP or IFRS. The Company’s presentation of this financial measure may not be comparable to similarly titled measures used by other companies. This financial measure is intended to provide additional information to investors concerning the Company’s estimated results. Adjusted EBITDA is defined as earnings before interest, tax, depreciation and amortization and share-based compensation and is a measure of a company’s operating performance. Essentially, it is a way to evaluate a company’s performance without having to factor in financing decisions, accounting decisions or tax environments. The following table (all in $US thousands) shows the Company’s Non-IFRS measure (Adjusted EBITDA) reconciled to operating profit for the indicated periods:



Three months ended



September 30,
2020



September 30,
2019

Operating loss

(1,488)

(1,059)

Adjustments:

Depreciation and amortization

613

574

Cost of share-based payments

25

105

Total adjustments

638

679


Adjusted EBITDA


(850)


(380)

Management uses this non-IFRS measure as a key metric in the evaluation of the Company’s performance and the consolidated financial results. The Company believes Adjusted EBITDA is useful to investors in their assessment of the operating performance and the valuation of the Company. However, non-IFRS financial measures are not prepared in accordance with GAAP or IFRS, and the information is not necessarily comparable to other companies and should be considered as a supplement to, not a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP or IFRS.

About Zoomd:

Zoomd (TSXV: ZOMD, OTC: ZMDTF), founded in 2012 and began trading on the TSX Venture Exchange in September 2019, offers a site search engine to publishers, and a mobile app user-acquisition platform, integrated with a majority of global digital media, to advertisers. The platform unifies more than 600 media sources into one unified dashboard. Offering advertisers, a user acquisition control center for managing all new customer acquisition campaigns using a single platform. By unifying all these media sources onto a single platform, Zoomd saves advertisers significant resources that would otherwise be spent consolidating data sources, thereby maximizing data collection and data insights while minimizing the resources spent on the exercise. Further, Zoomd is a performance-based platform that allows advertisers to advertise to the relevant target audiences using a key performance indicator-algorithm that is focused on achieving the advertisers’ goals and targets.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer IN REGARD TO Forward-looking statements

This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to Zoomd’s future financial situation, the impact and length of time of the COVID-19 pandemic on global advertising budgets and Zoomd’s revenue, the actions or inactions of its current and perspective customers regarding their advertising budgets, its ability to meet its strategic targets on the development roadmap and the overall success of the development roadmap. Forward-looking statements are necessarily based upon several estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties (including the impacts of the COVID-19 pandemic), the extent and duration of which are uncertain at this time on Zoomd’s business and general economic and business conditions and markets. There can be no assurance that any of the forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether because of new information, future events or otherwise, except as required by law.

The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. All forward-looking information contained in this press release is expressly qualified in its entirety by this cautionary statement.

For further information please contact:

Company Media Contacts:
Amit Bohensky
Chairman
Zoomd
[email protected] 
Website: www.zoomd.com

Investor relations:
Lytham Partners, LLC
Ben Shamsian
New York | Phoenix
[email protected]

Cision View original content:http://www.prnewswire.com/news-releases/zoomd-reports-q3-2020-results-quarterly-revenue-growth-of-12-year-over-year-and-up-17-quarter-over-quarter-while-reaching-the-first-development-milestone-in-releasing-its-self-serve-saas-product-301174665.html

SOURCE Zoomd Technologies Ltd.