DALLAS, TX / ACCESSWIRE / April 11, 2019 / eWellnesss Healthcare Corporation (EWLL):
eWellnesss Healthcare Corporation has developed a telehealth solution for delivery of remotely monitored, real-time physical therapy (PT) programs to patients called Phzio. The Company's telemedicine platform has additional applications for ancillary paramedical services, potentially also addressing patients in need of pre-diabetic, cardiac, and other healthcare treatments or routine wellness programs. The Company contracts with third-party administrators (TPAs), insurers, employers, and healthcare providers, among others, throughout the US and Canada and is headquartered in Culver City, California.
- Revolutionizing PT Delivery - The Company's Phzio telerehab platform is poised to revolutionize the way patients engage in physical therapy; the Phzio telehealth solution enables patients to engage in a physical therapy regime while being monitored real-time by a licensed physical therapist in his/her state. The sessions are interactive, recorded and stored in the Cloud, HIPAA compliant, and scheduled at the patient's convenience.
- Advanced Functionality ofPhzio Platform - Version 3.0 of Phzio was recently released, with robust functionality and scalability to support anticipated growth. The technology has been developed and tested over years, and patents are pending. The Phzio telemedicine platform is the first of its kind, allowing a one-to-many view for physical therapists supervising patient PT, with patients being able to log on for sessions from the privacy of their homes or offices from any device with Internet access. eWellness has also developed the technology to tokenize the process for participants as sessions are completed.
- Initial Focus on PT for WorkersCompensation Market- Given the demand driven by workers compensation patients, the Company isfirst focusing its attention on this market; there are ~10,000 new workers compensationcases created every day, which equals ~ 2 – 7%of all workers in the US being affected by a work-related incident thatrequires care. eWellness is targetingthe 100+ carriers, 1000+ TPAs and over 1000 self-insured workers as part of itsplan for driving growth and establishing reimbursement qualifications acrossthe US. Beyond PT, the Phzio telehealth platform has numerous applications onthe healthcare and wellness fronts as well.
- First Revenues Q219 - The Company has signed a contract with First MCOtargeting the workers compensation population; additionally, contracts havebeen signed with Benefits By Design and Green Shield (Canada) also offeringpatients PT treatments utilizing the Phzio platform. eWellness recently announced a contract withWeight Watchers in Canada to facilitate their ~250K members'"check-ins" and toprovide fitness programs through the Phzio platform, a relationship which hasthe potential to expand to WW's more than 5M members globally.
- Competitive Advantages - While the physicaltherapy market is sizable, it is also highly competitive. However, utilizing the Phzio telerehabplatform has notable advantages such as increasing patient compliance throughscheduled routine online sessions, lower costs due to the lack of brick andmortar and the one-to-many monitoring capabilities of its PTs, and conveniencefor both the patient and the physical therapist to conduct the sessionvirtually 24/7 in their preferred environments, eliminating travel, among others.
- Sizable Target Markets - The estimated size ofthe PT market in the US is ~$30 billion, and the US corporate wellness industryis estimated to generate ~$8 billion annually.With the advantages of the Phzio platform over the traditional deliveryof PT care, eWellness is likely to have a significant impact on thesemarkets.
- Valuation - While EWLL offers acompelling story, we note that there currently are significant uncertaintiesassociated with the execution of the business plan given the lack of revenuesto date and critical near-term milestones, making valuation difficult.
The full report can be accessed by clicking on the link below: http://www.stonegateinc.com/reports/EWLL%20APRIL%202019%20Final%20v3.pdf
About Stonegate Capital Partners
Stonegate Capital Partners is a Dallas-based corporate advisory firm dedicated to serving the specialized needs of small-cap public companies. Since our inception, our mission has been to find innovative, undervalued public companies for our network of leading institutional investors who seek high-quality investment opportunities.
SOURCE: Stonegate Capital Partners
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