SINGAPORE – (NewMediaWire) – December 24, 2024 – Mobile-health Network Solutions (Nasdaq: MNDR) (MNDR or the Company), a global leader in telemedicine and digital health innovation, today announced that, thanks to the Ministry of Health ( MOH) (has canceled the license of the company's subsidiary, Manadr Clinic Pte Ltd (the unit), located at Beach Road Town Gate, and this unit has now been closed.
Unit revenues from personal consultations had little impact on MNDR's overall business, representing less than 2% of the company's total revenue for fiscal 2024, and the personal units segment was operating at a loss. Regarding the units' teleconsultation operations, the majority of patients who were using these services are now served by alternative clinics in our network, and MNDR is actively supporting these clinics in providing competent, compassionate and uninterrupted service to these patients.
However, this development will not prevent MNDR from implementing its growth and expansion programme. While we continue our engagement with many clinics and healthcare providers, our teleconsultation revenue has since recovered to approximately 55% of our pre-accident peak. We will continue to engage with our stakeholders through community events and expect to restore our remote consultations over the next 12 months. Our company also continues its rapid geographic expansion beyond the Singapore shore into the Asia Pacific region and globally, and is now present in 28 countries. Most importantly, we continue to move forward in building a simple AI-powered healthcare platform.
We believe all of these steps bring us closer to achieving our founding mission of providing a high-quality, comprehensive, near-real-time 24/7 global healthcare platform that is accessible and affordable to everyone. This is the mission and identity that defines us, and we pledge that nothing will stop us from achieving this goal.
About Mobile Health Network Solutions
We are ranked No. 41 on the Financial Times' 2024 list of 500 high-growth companies in the Asia-Pacific region, and we are the first telehealth provider from the Asia-Pacific region to be listed in the United States. Through our platform, we provide personalized and trusted medical care to users around the world. Our platform allows our healthcare provider community to reach a broader range of users through virtual clinics with no startup costs and the ability to connect to a global network of peer-to-peer support groups and partners. Our suite of seamless, hassle-free telehealth solutions includes teleconsultations, prescription fulfillment and other personalized services such as weight management programs and gender-specific care. For more information, please visit our website.
Forward-looking statements
Certain statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but do not Inventory, data related to the expected start and close dates of trading. The words “expect”, “believe”, “continue”, “could”, “estimate”, “anticipate”, “intend”, “may”, “plan”, “potential”, “predict”, “project”, “aim” “Should,” “aim,” “will,” “would” and similar expressions identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that could cause actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's ability to execute our strategies, manage growth and maintain our company culture; Development of the Company's future business, financial conditions and results of operations; expectations regarding demand for and market acceptance of our products and services; Changes in technology. economic conditions growth of the telehealth solutions industry in Singapore and other international markets that the company plans to serve; Reputation and brand. the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in Singapore and the international markets that the Company plans to serve and the assumptions underlying or relating to any of the above risks and other risks contained in reports filed by the Company with the Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance on any forward-looking statements contained in this news release. Any forward-looking statements contained in this press release speak only as of the date hereof, and Mobile-health Network Solutions specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. .
For media inquiries, please contact:
Investor Relations Communications for Mobile Healthcare Network Solutions:
2 Venture Drive, #07-06/07 Vision Exchange
Singapore 608526
(+65) 6222 5223
Email: investors@manadr.com
Investor Relations Inquiries:
Skyline Corporate Communications Group, LLC
Scott Powell, President
1177 Avenue of the Americas, 5th floor
New York, NY 10036
Office: (646) 893-5835
Email: info@skylineccg.com
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