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Key Medicaid Providers Saw a 2000% Increase in Telemedicine Visits in 2020

FN Media Group Presents Market Commentary


New York, NY – March 16, 2022 – In the first year of the pandemic, telemedicine visits at key Medicaid providers increased by 2000%, according to a new survey by Health Net. Indeed, telehealth visits went from just 2% pre-pandemic up to 45% at the end of the first year of the crisis, marking a 20X increase. The growth in telemedicine is largely propelled by COVID-19, as patients seek out virtual care for preventive care, health screenings, health education, and mental health. And it appears that this trend may be here to stay as usage has remained stable and continued to grow. Companies like Mednow Inc. (TSXV:MNOW) (OTCQB:MDNWF), WELL Health Technologies Corp. (TSX:WELL) (OTCPK:WLYYF), 1Life Healthcare Inc. (NASDAQ:ONEM), Doximity Inc. (NASDAQ:DOCS), and Talkspace Inc. (NASDAQ:TALK) are some of the companies that have grown along with this industry. These companies have continued to expand as a result, and opened new locations, expanded services to new service areas, and found that people are more receptive than ever to receiving care virtually.


Canada’s on-demand virtual pharmacy Mednow Inc. (TSXV:MNOW) (OTCQB:MDNWF), which is focused on making healthcare more convenient and accessible for everyone, has continued to hit new milestones during the pandemic. In Q1 2022, Mednow reported revenue of C$570,000, approximately a 375% increase quarter-over-quarter and a gross margin of approximately 46%. The company also saw its total number of patients increase by 50% to 20,000 QoQ.


On March 16, Mednow announced the launch of Total Health by Mednow. Total Health will deliver science and evidence-based personalized supplement plans to consumers to help them achieve improved health, for preventative purposes, or as support with pharmacological treatments. People are taking more supplements than ever, and the global dietary supplements market, which was valued at US$151.9B in 2021, is expected to grow at a CAGR of 8.9% from 2022 to 2030.


Total Health provides a tailored total vitamin and supplement plan, built by Mednow’s in-house nutritionist and supplement expert. This may help Mednow capture patients through nutraceutical services, who may not be taking prescription medication, or would prefer to supplement prescription medication with nutraceuticals and supplements.


Mednow, which operates in British Columbia, Ontario and Nova Scotia also received its final approval from the Ontario College of Pharmacists for its new flagship fulfillment center in Toronto. Subject to receiving all necessary approvals and fulfilling the necessary requirements, Mednow plans to launch its Manitoba and Quebec fulfillment centres in April 2022 and its Alberta fulfillment center summer 2022.


Mednow is pursuing its expansion strategy throughout Canada, and announced that it has entered into an agreement to acquire Mednow East Inc. (“Mednow East”) in Ontario. Mednow East provides online pharmacies for prescription delivery throughout Ontario. Mednow East has its corporate headquarters in Toronto and employs the Mednow marketing and technology platform for lead generation, prescription fulfillment, and customer service according to a pharmacy agreement dated September 15, 2020, as amended October 30, 2020 between Mednow and Mednow East. The completion of the acquisition is subject to the fulfillment or waiver of all closing conditions and receipt of all corporate and regulatory approvals, including TSX Venture Exchange approval.


Upon completion, this acquisition is anticipated to help Mednow in its mission to build out a national pharmacy footprint. The acquisition will allow Mednow to own 100% of a pharmacy in Ontario, giving Mednow the capacity to provide free same-day pharmaceutical delivery services in the Greater Toronto Area (GTA) and completely free next-day delivery for the rest of the province of Ontario.


For more information on Mednow, Inc. (TSXV:MNOW) (OTCQB:MDNWF), please visit this link.


Telehealth’s Rise and Growth


The telehealth industry is growing rapidly thanks to rising adoption and increasing startups funding and is expected to grow at a CAGR of 32.1% to reach US$638.38 billion by 2028. WELL Health Technologies Corp. (TSX:WELL) (OTC:WLYYF), shared an update on its Patient Engagement Platform and eReferral Program, Ocean. CognisantMD’s Ocean Platform currently exceeds 2,000 active clinics, representing an increase of 700 clinics year-over-year, and continues to expand with 10+ current integrations.


1Life Healthcare Inc. (NASDAQ:ONEM), a membership-based and technology-powered primary care platform, also announced results from its Fourth Quarter and full-year 2021 on February 23, 2022. The end of 2021 saw a 1Life membership count of 736,000, up 34% YoY., with consumer and enterprise membership count at 703,000 and at-risk membership at 33,000. Net revenue was reported to $623.3 million, 64% higher YoY.


Doximity Inc. (NASDAQ:DOCS) recently published a new report revealing the continued growth of telemedicine, with a majority of patients planning to use virtual care post-pandemic. According to the company’s second edition of its State of Telemedicine Report, over 73% of patients said they would use telemedicine after the epidemic and nearly 60% of patients prefer mobile devices for telemedicine; and physicians are using telemedicine widely across age, gender, and location. Doximity is the leading digital platform for US medical professionals.


Talkspace Inc. (NASDAQ:TALK) is a virtual behavioral healthcare company enabled by a purpose-built technology platform. The company recently participated in Cowen’s 42nd Annual Health Care Conference, which included a fireside chat. The discussion touched on telehealth, online therapy, and other topics related to the growing telehealth industry and treatment.


The telehealth industry is growing and evolving, and research shows that patients and care providers are increasingly expecting, and preferring for their pharmaceutical services to be virtual. Mednow Inc. (TSXV:MNOW) (OTCQB:MDNWF) and its peers are working to continue expanding across North America, enabling them to deliver more telehealth services to more people.


PAID ADVERTISEMENT.  This communication is a paid advertisement for Mednow Inc. (“Mednow” or the “Company”) to enhance public awareness of the Company, its products, its industry and as a potential investment opportunity.  NativeAds, Inc. (“NativeAds”) and its owners, managers, employees, and assigns were paid by the Company to create, produce and distribute this advertisement, as previously disclosed in the news release of the Company dated March 12, 2021.  This compensation should be viewed as a major conflict with NativeAds’ ability to be unbiased.


This communication is not intended as, and should not be construed to be, an offer to sell or a solicitation of an offer to buy any security. Neither this communication nor the Company purport to provide a complete analysis of the Company or its financial position. The Company is not, and does not purport to be, a broker-dealer or registered investment adviser. This communication is not, and should not be construed to be, personalized investment advice directed to or appropriate for any particular investor. Any investment should be made only after consulting a professional investment advisor and only after reviewing the financial statements and other pertinent corporate information about the Company. Further, readers are advised to read and carefully consider the Risk Factors identified and discussed in the profiled company’s SEDAR and/or other government filings. Investing in securities, particularly microcap securities, is speculative and carries a high degree of risk.


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FORWARD-LOOKING STATEMENTS.  This communication includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws, including statements regarding the timing of operations beginning in Manitoba, Saskatchewan and Nova Scotia, receipt of all required regulatory approvals from the Manitoba College of Pharmacists, the Nova Scotia College of Pharmacists and other regulatory bodies with oversight of pharmacy practices, the ability to service clients in Saskatchewan and Manitoba from the Manitoba fulfillment centre, the ability to service clients in Nova Scotia from the Nova Scotia fulfillment centre and the benefits of a national presence. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends,” “anticipates,” “it is expected,” or variations of such words and phrases, or statements that certain actions, events or results “may,” “could,” “should,” or “would” occur. Forward-looking statements are based on certain material assumptions and analyses made by management of the Company and the opinions and estimates of management of the Company as of the date of this communication, including that the transactions contemplated herein will close on the terms and timeline as anticipated by the management of the Company and that the Company will receive all required regulatory approvals. Although the Company considers these assumptions to be reasonable based on information currently available to them, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors may include, among others, the risk that the transactions contemplated herein will not close on the terms and timeline as anticipated by the management of the Company, or at all, the risk that the Company will not receive required regulatory approvals and the other risks and uncertainties applicable to the Company and the business of the Company as set forth in the Company’s final long form prospectus dated February 26, 2021 and its other disclosure available under the Company’s profile at There can be no assurance that the transactions contemplated in this communication will complete. 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 intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations. We seek safe harbor.


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Disclaimer: (MSC) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with MSC or any company mentioned herein. The commentary, views and opinions expressed in this release by MSC are solely those of MSC and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable MSC and FNM for any investment decisions by their readers or subscribers. MSC and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.


The Article and content related to the profiled company represent the personal and subjective views of the Author (MSC), and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author (MSC) has not independently verified or otherwise investigated all such information. None of the Author, MSC, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment. FNM was not compensated by any public company mentioned herein to disseminate this press release but was compensated twenty five hundred dollars by MSC, a non-affiliated third party to distribute this release on behalf of Mednow Inc.    FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.


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