Multi-Year Contract Brings Total New Orders Received Over Last Five Months to $3.5 Million
MONTREAL, QC, April 25, 2022 /CNW/ – Carebook Technologies Inc. (“Carebook” or the “Company“) (TSXV: CRBK) (OTCPK: CRBKF) (XFRA: PMM1), a leading Canadian provider of innovative digital health solutions today announced a multi-year contract with Air Canada, signed on April 4, 2022, for the inclusion of the Carebook CoreHealth Platform in its Employee Portals.
Air Canada is using Carebook’s CoreHealth total well-being platform to connect their employees to a comprehensive suite of leading health and wellness programs, content, and solutions. CoreHealth’s platform is easy to use and highly configurable giving Air Canada the ability to deliver specific wellness programming to meet the individual needs of their employees. The CoreHealth solution builds upon the current organizational understandings provided by Carebook’s Wellness Checkpoint assessment tool which has been in use with Air Canada since 2017. When coupled together, these two leading solutions offer Air Canada an unparalleled opportunity to curate relevant programming that will help improve the health and wellness of all Air Canada employees.
“At Air Canada, the health and wellness of our employees is an integral component to our cornerstone value of Safety First, Always. Our employees want to be the best they can be, and we support their wellness journey through an employee portal dedicated to practical tools and resources such as health education covering a range of themes including physical, mental, financial health and more. We are proud to elevate our employee wellness portal to the next level with the CoreHealth platform which will enhance the delivery of health and wellness tools for our global, mobile workforce,” said Dr. Jim Chung, Chief Medical Officer at Air Canada.
“This contract with Air Canada, one of this country’s most important and well-respected corporations, represents a major turning point for Carebook,” commented Michael Peters, Carebook CEO. “Our comprehensive offering of digital health solutions is the product of the successful integration of Wellness Checkpoint and CoreHealth, both acquired in 2021. And the expansion of our partnership with Air Canada further validates that our comprehensive suite of assessment and wellness solutions are well positioned to serve Canada’s top employers. We are now targeting the employer market with a combined platform that offers a total “one-stop” solution for employers seeking to improve the lives of their employees and develop comprehensive human resource experiences. We are thrilled that Air Canada will be one of the first world-class employers to benefit from the combined power of our integrated assessment and wellness solutions.”
Continued Peters, “Air Canada’s implementation of the Carebook solution will provide us with an international showcase for our solutions capability. While the Air Canada contract is not material on its own, it does cap a record five months for our company with regards to new orders received. We have booked $3.5 million in new sales ranging from two to five years in length since November 1, 2021, representing ARR of $800K. These contracts, from a diverse base of clients located in the U.S. and Canada, provide confirmation of the success of our strategy and renewed focus on the fast-growing employer vertical.”
About Carebook Technologies
Carebook’s digital health platform empowers its clients and more than 3.5 million members to take control of their health journey. During 2021, the Company completed the acquisitions of InfoTech Inc., a global leader in health and productivity risk management, and CoreHealth Technologies Inc., owner of an industry-leading wellness platform. In combination, these companies create an end-to-end digital health platform that includes both assessment tools and the technology to deliver complementary solutions. Carebook’s shares trade on the TSXV under the symbol “CRBK,” on the OTC Markets under the symbol “CRBKF,” and are listed on the Open Market of the Frankfurt Stock Exchange under the symbol “PMM1.”
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice regarding forward-looking statements:
This release includes forward-looking information and forward-looking statements within the meaning of Canadian securities laws regarding Carebook, its subsidiaries and their business. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “is expected”, “expects”, “scheduled”, “intends”, “contemplates”, “anticipates”, “believes”, “proposes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such statements are based on the current expectations of the management of Carebook and are based on assumptions and subject to risks and uncertainties. Although the management of Carebook believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and undue reliance should not be placed on such forward-looking statements. The forward-looking statements reflect the Company’s current views with respect to future events based on currently available information and are inherently subject to risks and uncertainties. The forward-looking events and circumstances discussed in this release may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, including economic factors, management’s ability to manage and to operate the business of Carebook, management’s ability to successfully integrate the Company’s completed acquisitions and to realize the synergies of such acquisitions, management’s ability to successfully complete product studies, the equity markets generally and risks associated with growth and competition, as well as the risk factors identified in the Company’s management’s discussion and analysis for the year ended December 31, 2020 and described under the heading “Item 21 – Risk Factors” in the Listing Application of the Company dated September 28, 2020, each of which can be found on SEDAR under the Company’s profile at www.sedar.com. Although Carebook 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 Carebook 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. In addition, the current situation and future developments with respect to the COVID-19 pandemic could cause certain of the assumptions and information set forth herein or the fact that on which such assumptions are based to differ materially from previous expectations including in respect of demand for our products, access to debt and equity capital and other factors.
SOURCE Carebook Technologies Inc.