Datametrex AI (DM.V) finished its acquisition of B.C. based private telemedicine company, Medi-Call, today, according to a press release.
Even as the pandemic is coming to a close with more people getting vaccinated and businesses starting to dust off their welcome mats, there’s always the looming spectre of a COVID-19 mutation waiting in the wings. The prospect of another wave, this one resistant to our best attempts to contain it, may still find us complaining about lockdowns while we wait for our elected representatives to do something when they get back from their vacations.
One of the best and most well-regarded options for communicating with your doctor during the lockdown turned out to be telemedicine apps.
“This is an exciting development for Medi-Call and with the global impact of COVID-19 has been unprecedented, resulting in telemedicine witnessing a massive demand, it made sense to team up with a larger company to roll out more services and locations in B.C. and eventually across Canada. The demand for multibillion-dollar digital health services has emerged as a powerful new business and health care model for doctors like me in assessing patients quickly and efficiently but is also aiding in reducing the cost burden to regional health authorities. I look forward to driving the telemedicine business with help of the team at Datametrex,” said Dr Omar Sharif, president of Medi-Call.
Medi-Call is a telemedicine company involved in providing e-health or m-health care services including prescriptions. They launched originally in British Columbia and have expanded across Canada. The company’s goals are to make healthcare accessible to people in rural or isolated communities and make services more available to folks with time, mobility or transportation issues.
Before the COVID-19 lockdown telemedicine was going nowhere. It was thought of as a potential solution to help people in rural settings get in touch with doctors without having to come into the city, and the rollout for that wasn’t great. Now that the virus has kept us indoors for protracted periods of time, it’s been extended to city-environments as well. And there’s evidence to suggest that even after the threat of COVID-19 has been extinguished, it’ll likely stay as it’s had its chance to show its value.
“The past 18 months with the pandemic has transformed our behavioural habits related to our health and well-being and including seeing a doctor. With the acquisition of Medi-Call comes the addition of key medical staff and enhanced capability in the field of on-line medicine. With the increased capacity to screen patients on an on-line basis for underlying health issues prior to undertaking an ER visit in a hospital, Medi-Call is furthering its commitment to patients that require immediate acute assessment or frequent visits to a doctor’s office for consultation for underlying conditions. With today’s tech-savvy generation, preference towards the adoption of on-line shopping and services, the delivery for on-line medical consultation is on the surge.” said Marshall Gunter, CEO of Datametrex AI.
Datametrex AI is a BC based tech company usually dealing in artificial intelligence and machine learning through Nexalogy, their subsidiary. They provide tools to help companies meet their operational goals, including health and safety, through leveraging predictive and preventative technologies. The addition of a telehealth company is a bit of a departure for them, but well within their corporate logic. Also, it doesn’t hurt that Datametrex didn’t add any debt to their balance sheet.
There won’t be any changes to the way Medi-Call does business, including management. The acquisition closed through a share exchange agreement on June 18, between the company, Medi-call and its shareholders for $12 million in DM shares at $0.20 a share.
Here’s Reza with some the details: