HealthLynked Receives $500,000 Payment Milestone from Sale of ACO Health Partners

HealthLynked Corp. (OTCQB: HLYK) has received a $500,000 payment milestone from the sale of ACO Health Partners (AHP), representing their share of AHP's ACO shared savings for the 2023 performance period.

Rhea-AI Summary

HealthLynked Corp. (OTCQB: HLYK) has received a $500,000 payment milestone from the sale of ACO Health Partners (AHP), representing their share of AHP's ACO shared savings for the 2023 performance period. This payment completes the total cash consideration of $3 million from the January 2023 sale, which included an initial $750,000 payment, $1.75 million in participation-based payments, and the current $500,000 milestone. The sale to Palm Beach ACO was a strategic move allowing HealthLynked to focus on its core healthcare technology and patient engagement services.

Positive

• Received final $500,000 payment completing total $3 million cash consideration from AHP sale
• Successfully completed strategic divestment to focus on core business

Negative

• None.

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NAPLES, Fla., Nov. 25, 2024 (GLOBE NEWSWIRE) -- via IBN -- HealthLynked Corp. (OTCQB: HLYK), a leader in healthcare technology and patient engagement solutions, today announced the receipt of $500,000 in scheduled sale consideration related to the January 2023 sale of ACO Health Partners (AHP). This payment represents HealthLynked's contractual share of the shared savings generated by AHP's Accountable Care Organization (ACO) during the 2023 performance period.

Since the sale of AHP in January 2023, HealthLynked has received a total of $3 million in gross proceeds. This includes an initial $750,000 from the sale, $1.75 million in participation-based payments, and the $500,000 received this week. These payments represent the full amount of cash consideration HealthLynked was eligible to receive under the terms of the sale agreement.

Dr. Michael Dent, CEO of HealthLynked, stated, "The sale of our ACO to Palm Beach ACO was a strategic step forward for HealthLynked, enabling us to focus on expanding our core healthcare technology and patient engagement services. We are delighted to see that the ACO continues to deliver meaningful benefits to patients and providers, underscoring the value of this collaborative care model."

For more information about HealthLynked, please visit www.healthlynked.com.

About HealthLynked Corp
HealthLynked Corp. enhances healthcare through personalized care management that improves outcomes and reduces costs. Its cloud-based platform connects patients with providers for virtual or in-office appointments and consolidates medical records into one secure, accessible location.

With AI-driven recommendations, HealthLynked offers tailored insights, streamlines care coordination, and provides savings on prescriptions and medical supplies. By empowering patients with efficient, affordable solutions, HealthLynked delivers better care and an improved healthcare experience.

Forward-Looking Statements & Risk Factors
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward looking statements are subject to risks and uncertainties that are often difficult to predict, are beyond our control and which may cause results to differ materially from expectations. Actual results may differ materially from those expressed or implied by these statements due to various risks and uncertainties. Without limiting the foregoing, forward-looking statements may be identified by terms such as "may," "expect," "intend," "anticipate," "believe," "estimate," and similar expressions. These statements are based on assumptions deemed reasonable but are inherently uncertain and cannot be guaranteed. We do not undertake any obligation to update these statements except as required by law. For more information, please refer to the "Risk Factors" section of our latest Annual Report on Form 10-K and other filings available at www.sec.gov.

Contact Information:
HealthLynked Corp.
Michael Paisan

1265 Creekside Parkway, Suite 301
Naples, FL 34118
Email: IR@healthlynked.com
Phone: +1 (800) 928-7144

FAQ

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How much did HealthLynked (HLYK) receive from the ACO Health Partners sale in total?

HealthLynked received a total of $3 million in gross proceeds from the sale of ACO Health Partners, including an initial $750,000, $1.75 million in participation-based payments, and a final $500,000 payment.

When did HealthLynked (HLYK) sell ACO Health Partners?

HealthLynked sold ACO Health Partners in January 2023.

What was the latest payment milestone HealthLynked (HLYK) received from the ACO sale?

HealthLynked received a $500,000 payment milestone representing their share of AHP's ACO shared savings for the 2023 performance period.