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Tuesday, February 7, 2023

Healthlynked Corp (OTCMKTS: HLYK) Steady Rise Upwards Since December Reversal

Healthlynked Corp (OTCMKTS: HLYK) is making a big move up the charts since reversing off $0.0251 lows in early December. The stock saw a big move back in early 2021 running to highs of $1.25 followed by well over a year of steady declines culminating in the recent reversal. At the time of the run back in February 2021 HLYK OS was 186,807,929 which has since increased to 255,967,889.  

HLYK took off in December after the Company announced a new affiliation agreement with Fitness International, LLC, the operator of L.A. Fitness, City Sports Club, and Esporta Fitness brands.  Under the agreement, HealthLynked Network Members will be eligible for discounted memberships at Fitness International’s clubs across the U.S.  We will be updating on HLYK so subscribe to Investmillion.com right now by entering your email in the box provided below.  

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Healthlynked Corp (OTCMKTS: HLYK) operating out of Naples, Florida provides a solution for both patient members and providers to improve healthcare through the efficient exchange of medical information. The HealthLynked Network is a cloud-based platform that allows members to connect with their healthcare providers and take more control of their healthcare. Members enter their medical information, including medications, allergies, past surgeries, and personal health records, in one convenient online and secure location, free of charge. Participating healthcare providers can connect with their current and future patients through the system 

HealthLynked Corp currently operate in four distinct divisions: the Health Services Division, the Digital Healthcare Division, the ACO/MSO (Accountable Care Organization / Managed Service Organization) Division, and the Medical Distribution Division. 

The Health Services division is comprised of the operations of (i) Naples Women’s Center, a multi-specialty medical group including OB/GYN and General Practice, (ii) Naples Center for Functional Medicine,  a Functional Medical Practice engaged in improving the health of its patients through individualized and integrative health care, and (iii) Bridging the Gap Physical Therapy, a physical therapy practice in Bonita Springs, FL, that provides hands-on functional manual therapy techniques to speed patients’ recovery and manage pain without pain medication or surgery. 

The Digital Healthcare division develops operates an online personal medical information and record archive system, the “HealthLynked Network,” which enables patients and doctors to keep track of medical information via the Internet in a cloud-based system. 

The ACO/MSO Division is comprised of the operations of Cura Health Management LLC and its subsidiary ACO Health Partners LLC. CHM and AHP operate an Accountable Care Organization that assists physician practices in providing coordinated and more efficient care to patients via the Medicare Shared Savings Program as administered by the Centers for Medicare and Medicaid Services which rewards providers for efficiency in patient care.  

The Medical Distribution Division is comprised of the operations of MedOffice Direct LLC, a virtual distributor of discounted medical supplies selling to both consumers and medical practices throughout the United States. With over 13,000 name brand medical products in over 150 different categories, MOD leverages Group Purchasing Organization pricing discounts with a small unit-of-measure direct-to-consumer shipping model to make ordering medical supplies both convenient and highly cost effective for its users.  

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Healthlynked Corp has released a number of products and applications including a COVID-19 tracker application for IOS mobile devices as well as Oohvie, an iOS application focused on women’s healthcare. Healthlynked also released CareLynk, an innovative AI-enabled healthcare directory allowing users to call one number and connect to any doctor across the U.S. CareLynk utilizes natural language processing (NLP) and voice-to-text technology to understand what healthcare provider a caller is looking for. The system includes doctors from over 88 different medical specialties. The Company also released QwikCheck, a streamlined process for practices to institute remote patient check-in without the need for any additional hardware. The QwikCheck system uses dynamic linking, which allows a single QR code tied to a practice that works seamlessly with both Android and iOS platforms. Patients can check in for their doctor’s appointment using their mobile devices regardless of their smart phone’s operating system, age, or model.  

On December 27 HLYK reported initial results of its Medical Membership and Concierge programs. Existing patients have until December 31, 2022 to join either program.  To date, over 50% of patients have decided, with 79% participation in the Medical Membership and Concierge programs, 12% electing to continue with the practice’s newly added physician, Dr. Lina Sakr, and just 9% undecided or leaving the practice. With the practice’s current patient wait list, this 9% will be recovered rather quickly. From a financial perspective, 399 patients have signed up for Medical Membership at $1,500 per year, and an additional 7 patients have signed up for the limited silver and gold Concierge levels, with only 8 remaining slots available. The total incremental annualized revenue received to date from the Medical Membership and Concierge programs is over $500,000, with approximately 50% of existing patients still to decide on participation before the end of 2022. 

HLYK CEO George O’Leary said: “We are extremely pleased with the 91% participation to date. We saw a large increase in memberships during the last week of November and anticipate another large increase at the end of December, when the program signup for existing patients completes.” 

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Currently trading at a $40 million market valuation HLYK OS is 255,967,887 shares outstanding with 107 million shares in the float. HLYK is fully reporting OTCQB and has a strong balance sheet with $7.5 million assets vs. $2.5 million in liabilities and revenues of $4,069,714 for the 9 months ended September 30, 2022 and a loss of about $5 million for the 9 months period. HLYK has been making big moves since reversing off $0.0251 in December and is quickly attracting a growing shareholder base and is still priced fairly cheap compared to the $1.25 highs reached in early 2021. We will be updating on HLYK when more details emerge so make sure you are subscribed to investmillion.com by entering your email below.

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Disclosure: we hold no position in HLYK either long or short and we have not been compensated for this article.

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