UniDoc Entry into American Telehealth Sector a Strategic Market Opportunity

Vancouver, British Columbia, CANADA

VANCOUVER, British Columbia, April 22, 2022 (GLOBE NEWSWIRE) -- UniDoc Health Corp. (CSE: UDOC) (FRA: L7T) (OTCQB: UDOCF) (“UniDoc,” or the “Company”), an innovator in the telehealth sector, is pleased to provide the following overview of the growth opportunity represented by the strategically important telehealth market in the USA.

According to the American Academy of Family Physicians, telemedicine refers specifically to remote clinical services, while telehealth refers to a broader scope of remote health care services, including non-clinical services, in addition to clinical services. UniDoc believes telehealth offers significant advantages to American patients with a wide range of available services including preventative, diagnostic and treatment services, offered remotely to U.S. patients using audio, video and other information and communications technology. Integrated telehealth solutions as envisioned by UniDoc, opens the door to a large segment of the nation’s population challenged by access, experience, or limited understanding of online computer technology. It is the Company’s belief that broadly deployed physical accessibility in controlled environments is the key to its business proposition and future growth.

In recent years, domestic interest in the sector increased significantly, driven largely by challenges surrounding timely access to healthcare and the rise of consumer/patient demand. This increased interest in telehealth has sparked a period of significant growth of the North American sector.

  • According to industry research, the telehealth market was expected to grow to grow at a CAGR of 37.7% during the forecast period, to reach USD 191.7 billion by 2025 from an estimated USD 38.7 billion in 2020. (Telehealth/Telemedicine Market, November 2020, MarketsandMarkets).
  • North America accounted for the largest share of the telehealth market in 2021 with U.S. telehealth market by revenue is expected to grow at a CAGR of over 28% during the period 2020–2026. (Research & Markets May, 2021).
  • Recent data showed telehealth utilization had stabilized at levels 38 times higher then before the pandemic (McKinsey & Co. July 9, 2021).
  • 57% of providers view telehealth more favourably than before COVID-19 and 64% are more comfortable with its use (McKinsey & Co. July 9, 2021).
  • Survey respondents indicate that between 40% and 60% of consumers want a broader set of virtual care solutions, such as a “digital front door” or lower-cost virtual health plan. (McKinsey & Co. July 9, 2021).
  • Forbes (Jan 6, 2022) states “Pandemic or not, the value of convenient and accessible virtual care has been realized.”
  • One-third of millennials and 41% of Generation Z prefer digital encounters with physicians over in-person visits. And with roughly half of employees using virtual health services in 2020 — up from 17% in 2019 — there’s still a lot of room to grow. (Forbes, Jan 6, 2022).

The COVID-19 pandemic has driven significant growth in adoption of technology in the North American healthcare industry. As the virus spread, healthcare systems were forced to adapt traditional ways of providing healthcare, quickly changing the utilization of telehealth services. Providers that had already invested in virtual care solutions prior to COVID-19 were forced to test scalability of these solutions, and those that did not invest in such a solution were pushed to identify and leverage technology for the first time, thus driving the growth of new collaborations and the creation of significant market opportunities.

The October 2020 Gartner Market Guide for Virtual Care Solutions highlighted the trend of increased reliance on technologies, noting that by 2022 in North America 30% of all ambulatory encounters were predicted to be virtual, up from about 2% at the start of 2020, and further indicated that the structural changes are here to stay.

In this context, the Company believes that the ability to support the delivery of virtual care is now a viable and sustainable growth opportunity for innovative professional healthcare delivery organizations such as UniDoc. We believe virtual care has the power to reduce economic strain on the public system, improve treatment for those suffering from health-related challenges, and empower individuals to become more engaged in their health.

North America is still in the early stages of telehealth/telemedicine services, and trend data (Graphical Research, Feb 3, 2021) suggests the domestic digital health space continues to lag behind other developed countries. Telemedicine was initially developed to bring health services closer to remote populations with limited health resources. Later, it became a means to improve the quality of medical care by facilitating training and decision making of health care professionals in remote areas. Today, UniDoc is preparing a solution to offer broad nationwide access predicated on improving patient experiences by shortening timelines and delivering better outcomes.

UniDoc is a virtual telehealth solutions company. The Company’s primary offering under development has been branded as the Virtual Care Solutions Model, a proprietary, customizable, and comprehensive telehealth solution that will integrate a range of physical enclosures, kiosks, and related configurable packaging with web-based services and analytical tools, along with access to the Company’s developing network of healthcare providers, pharmacies, and hospitals. The model includes virtual/telehealth remote accessibility designed to provide patients with a live virtual visit with a doctor or other health professional in a controlled environment. The units are designed to offer a selection of fully integrated diagnostic tools in locations such as pharmacies, community centres or care facilities through dedicated partnerships to be established with UniDoc. Additional diagnostic/interactive products and solutions are being purposed for the provisioning of health consultations from home or remote work environments.

We encourage engagement, questions, and interest, so please stay in touch and invite anyone who might be interested in our story to visit our website at www.unidoctor.com and signup to receive the latest information with updates on our activities, events and progress. You are also invited to join us on social media with Facebook, Twitter or Instagram.

On Behalf of The Board of Directors,

~Antonio Baldassarre~

Antonio Baldassarre
CEO, President & Director
UniDoc Health Corp. (CSE: UDOC)

About UniDoc Health Corp. (CSE: UDOC) (FRA: L7T) (OTCQB: UDOCF)
UniDoc is developing a telehealth solution which is being designed as a self-contained remote virtual clinic within a private kiosk for patients to undergo full consultations as if they were present in a physician’s office. Telehealth opens the doors to a large segment of the population challenged by access, experience or understanding of online computer technology. It is the Company’s belief that physical accessibility is the key to its business proposition. UniDoc is dedicated to unlocking shareholder value by delivering an excellent product and sophisticated commercial network within an expedited timeframe. The UniDoc team encourages engagement, questions, and interest, so please stay in touch and invite anyone who might be interested in our story to visit our website at www.unidoctor.com and signup to receive the latest information with updates on our activities, events and progress. You are also invited to join us on social media with Facebook, Twitter or Instagram.

For further information, please contact
UniDoc Investor Relations
Tel: +1 778.383.6731
Email: info@unidoctor.com

Matt Chatterton, Director
Tel: +1 778.613.2082
Email: matt@unidoctor.com

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