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OneMedNet Reports Greater than Five-Fold Expansion of iRWD™ Network and Platform

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OneMedNet announced a significant expansion of its iRWD™ network and platform, boasting a more than five-fold increase.

The company has partnered with new entities, including a nationwide medical records custodian, increasing its network to 1,402 healthcare system and provider partner sites, 31 million patients, and 121.4 million clinical exams.

This growth represents a 472% increase in partner sites, a 170% rise in patients, and a 122% bump in clinical exams since the end of 2023.

CEO Aaron Green emphasized that this expansion aligns with OneMedNet's strategy to leverage real-world data for healthcare innovation.

Positive
  • Greater than five-fold expansion of iRWD™ network and platform.
  • Partner network increased to 1,402 healthcare system and provider partner sites.
  • Patient base expanded to 31 million.
  • Clinical exams data surged to 121.4 million.
  • 472% increase in partner sites since the end of 2023.
  • 170% rise in the number of patients.
  • 122% increase in clinical exams.
  • New partnerships including a nationwide medical records custodian.
  • Significant strategic alignment to leverage real-world data.
Negative
  • None.

OneMedNet’s five-fold expansion in its iRWD™ network represents a significant development. This expansion can likely translate into revenue growth. A network now comprising 1,402 healthcare system and provider partner sites and 31.0 million patients will attract more clients in the healthcare and pharmaceutical sectors looking for comprehensive real-world data. Higher customer acquisition translates into higher revenues, influencing the stock price positively in the short term. However, the company needs to manage growing operational costs to maintain profitability. Investors should stay alert to upcoming quarterly earnings reports to assess these impacts.

Rating: 1

The growth in OneMedNet’s iRWD™ network signifies their infrastructure's robustness and efficacy. Scaling to 1,402 sites and 31 million patients is no small feat, indicating they have overcome significant technical and logistical challenges. This expansion enhances their competitive edge in the real-world data market, positioning them as a leading player. However, meeting the increased demand for data management and ensuring data security will be critical. The potential for innovation in medical research and patient care is substantial, but the company must adhere to stringent regulatory requirements to maintain trust and credibility.

Rating: 1

The strategic partnerships facilitating this expansion are noteworthy. Partnering with a nationwide medical records custodian boosts OneMedNet's access to diverse and comprehensive data. This collaboration will enhance their data offerings' value, attracting more high-profile clients in the pharma and biotech sectors. For investors, these partnerships signal long-term stability and growth potential. Nevertheless, the company will need to navigate competitive pressures and potential market saturation strategically. Ongoing monitoring of partnership impacts and customer feedback will be important for sustaining growth.

Rating: 1

MINNEAPOLIS, May 23, 2024 (GLOBE NEWSWIRE) -- OneMedNet Corporation (Nasdaq: ONMD) (“OneMedNet” or the “Company”), the leading curator of regulatory-grade Real World Data (“RWD”), inclusive of electronic health records, laboratory results and medical imaging, is pleased to announce a greater than five (5)-fold expansion of its proprietary iRWD™ network and platform.

Through a series of new network partnership agreements, including one recently signed with an undisclosed nation-wide medical records custodian, OneMedNet is now offering its growing base of customers seamless access to an expanded set of RWD across its robust network comprised of:

  • 1,402 healthcare system and provider partner sites;
  • 31.0 million patients; and
  • 121.4 million clinical exams.

The year-to-date increases in partner sites, patients and clinical exams represent growth of 472%, 170% and 122%, respectively, since the end of 2023.

“As demonstrated by this significant expansion of our network, we continue to successfully execute against the key pillars of our growth strategy,” said Aaron Green, OneMedNet’s President and CEO. “Our vision is to harness the full potential of RWD to drive innovation in healthcare. By providing our customers with comprehensive access to valuable, regulatory-grade clinical data across our growing network, we are not just furnishing more numbers — we are delivering the de-identified and hard-to-curate information needed to help foster a new era of medical excellence.”

About OneMedNet Corporation

OneMedNet provides innovative solutions that unlock the significant value contained within the Real-World Data (“RWD”) repositories of over 1,400 healthcare system and provider sites that currently comprise its iRWD™ network. OneMedNet’s proprietary iRWD™ platform provides secure, comprehensive management of diverse clinical data types, including electronic health records, laboratory results, and uniquely, medical imaging. Employing its robust iRWD™ platform, the Company securely de-identifies, searches, and curates the clinical data, bringing a wealth of internal and third-party research opportunities to its drug, medical device and imaging/diagnostic AI development customers.

OneMedNet’s platform is designed to meet the clinical requirements necessary across various domains, including but not limited to rare diseases, oncology, and cardiology. The Company is committed to delivering precise and robust research support services that span the entire continuum of care. This commitment is a cornerstone of OneMedNet’s strategy to enhance patient outcomes and help pave the next wave of healthcare innovation. For more information, please visit www.onemednet.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as "may," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential," or "hopes" or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of OneMedNet; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.

OneMedNet Contacts:

Stephen Kilmer, Investor Relations
Phone: 647.872.4849
Email: stephen.kilmer@onemednet.com

Michael Wong, Director of Marketing
Phone: 800.918.7189
Email: michael.wong@onemednet.com

SOURCE: ONEMEDNET CORPORATION


FAQ

What recent expansion did OneMedNet announce?

OneMedNet announced a greater than five-fold expansion of its iRWD™ network and platform.

How many healthcare system and provider partner sites does OneMedNet now have?

OneMedNet's network now includes 1,402 healthcare system and provider partner sites.

What is the number of patients in OneMedNet’s expanded network?

OneMedNet’s expanded network now includes 31 million patients.

How many clinical exams does OneMedNet's network cover after the expansion?

OneMedNet's network now covers 121.4 million clinical exams.

By how much did the number of partner sites increase since the end of 2023?

The number of partner sites increased by 472% since the end of 2023.

By what percentage did OneMedNet's patient base grow?

OneMedNet's patient base grew by 170%.

How much did the clinical exams data increase for OneMedNet?

The clinical exams data increased by 122%.

Who is the CEO of OneMedNet?

OneMedNet's CEO is Aaron Green.

OneMedNet Corporation

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