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Classified in: Health, Business
Subjects: BUSINESS CONTRACTS, CORPORATE OFFICERS

MedBright AI Reaches US$100M in Total Clinic Revenue Under Contract with MedMatrix, the AI-Powered Data Analytics Platform


VANCOUVER, British Columbia, Jan. 18, 2024 (GLOBE NEWSWIRE) -- MedBright AI Investments Inc. (the "Company" or "MedBright AI") (CSE:MBAI, OTCQB:MBAIF, FSE:1V7) has announced today that it has achieved its near term goal of total clinic revenue under management with MedMatrix, the AI-powered data analytics platform.

14 clinics in total across the US and Canada, representing an estimated US$100M in total clinic revenue1, are now using MedMatrix.

"The adoption of MedMatrix has been extraordinary, with multiple clinic groups signing on in just two short months," said Dr. Jaime Gerber, Chairman of MedBright AI. "We look forward to continued expansion to many more clinic groups and continuing our rapid growth trajectory."

MedBright AI is the primary shareholder in MedMatrix, an AI-powered data analytics platform. MedMatrix harnesses the power of artificial intelligence to evaluate and analyze key aspects of healthcare facilities, including patient needs and resource matching, revenue cycle management, patient demographics, facility geography, and competition. Through its advanced AI and data analytics capabilities, MedMatrix works alongside healthcare professionals to optimize each of these critical areas, resulting in more efficient clinic operations and improved patient outcomes.

About MedBright AI Investments Inc.

MedBright AI is a capital allocator focused on investing in healthcare technology companies. The team at MedBright prides themselves on unparalleled access to opportunities, as well as structuring unique and advantageous investments. MedBright's mission is to construct a portfolio of synergistic investments to generate superior returns for shareholders. MedBright will focus on significant near-term and midterm high-quality opportunities with strong return potentials while maintaining commitment to governance. Click here to view the MedBright AI corporate video.

MedBright AI Investments Inc.
Trevor Vieweg, Chief Executive Officer
604-602-0001
Email: [email protected]

Cautionary Statement Regarding "Forward-Looking" Information 

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including, without limitation, the anticipated benefits of MedMatrix such as increased clinic revenue, enhanced patient satisfaction, reduced wait times and physician burnout; the anticipated adoption of MedMatrix by additional clinic groups; and the Company's plans to generate returns for its shareholders through its portfolio of investments, are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should" or "would" or occur.

Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including, among other things, that MedMatrix will offer increased clinic revenue, enhanced patient satisfaction, reduced wait times and physician burnout; that MedMatrix will be adopted by additional clinic groups at the scale anticipated; and that the Company will be able to generate returns for its shareholders. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important risks that may cause actual results to vary, include, without limitation, the risk that the use of MedMatrix will not result in increased clinic revenue, enhanced patient satisfaction, or reduced wait times and physician burnout; the risk that MedMatrix will not be adopted by additional clinic groups or that the scale anticipated; and the risk that the Company's portfolio of investments will not generate returns for shareholders.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such 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 and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.

_______________

1 This figure is an estimate and has not been based on historical financial statements of the clinics using MedMatrix.



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