Semler Scientific® Announces Additional Bitcoin Purchases

Rhea-AI Summary

Semler Scientific announced the purchase of an additional 247 bitcoins for $17 million in cash, including fees and expenses. This brings their total bitcoin holdings to 828, acquired for $57 million. CEO Doug Murphy-Chutorian emphasized their dual strategy of expanding their healthcare business and investing in bitcoin, viewing it as a reliable store of value. As of June 6, 2024, the company continues to focus on these strategies.

Positive

• Semler Scientific has successfully acquired a total of 828 bitcoins, demonstrating a commitment to their investment strategy.
• The company spent $57 million on bitcoin acquisitions, indicating substantial financial capability and confidence in bitcoin's value.
• CEO Doug Murphy-Chutorian reaffirmed the company's dual strategy of expanding their healthcare business alongside investing in bitcoin.

Negative

• The recent purchase of 247 bitcoins for $17 million suggests a significant outlay of cash which could impact liquidity.
• Bitcoin investments can be highly volatile, presenting a potential risk to the company's financial stability.
• The focus on bitcoin as a store of value might detract from investments in their core healthcare business.

SANTA CLARA, Calif., June 6, 2024 /PRNewswire/ -- Semler Scientific, Inc. (Nasdaq: SMLR), a pioneer in developing and marketing technology products and services to healthcare providers to combat chronic diseases, today announced that it has purchased an additional 247 bitcoins for an aggregate $17 million in cash, inclusive of fees and expenses. 

As of June 6, 2024, Semler holds a total of 828 bitcoins, which were acquired for an aggregate $57 million, inclusive of fees and expenses. 

"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin," said Doug Murphy-Chutorian, MD, Semler Scientific's chief executive officer. "The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash." 

About Semler Scientific, Inc:

Semler Scientific, Inc. develops, manufactures and markets innovative products and services to combat chronic diseases. Its flagship product, QuantaFlo®, which is patented and cleared by the U.S. Food and Drug Administration (FDA), is a rapid point-of-care test that measures arterial blood flow in the extremities. The QuantaFlo test aids in the diagnosis of cardiovascular diseases, such as peripheral arterial disease (PAD), and Semler Scientific is seeking a new 510(k) clearance for expanded indications. QuantaFlo is used by healthcare providers to evaluate their patient's risk of mortality and major adverse cardiovascular events (MACE). Semler Scientific also invests in bitcoin and has adopted bitcoin as its primary treasury reserve asset. Additional information about Semler Scientific can be found at www.semlerscientific.com.

Forward-Looking Statements

This press release contains "forward-looking" statements. Such statements can be identified by, among other things, the use of forward-looking language such as the words "believe," "goal," "may," "will," "intend," "expect," "anticipate," "estimate," "project," "would," "could" or words with similar meaning or the negatives of these terms or by the discussion of strategy or intentions. The forward-looking statements in this release include express or implied statements regarding the new bitcoin strategy, the purchase of additional bitcoin with cash, and the expansion of its healthcare business, among others. Such forward-looking statements are subject to a number of risks and uncertainties that could cause Semler Scientific's actual results to differ materially from those discussed here, such as risks inherent with investing in bitcoin, including bitcoin's volatility; risk of implementing a new treasury strategy; risk that insurance plans and other customers will not continue to license its cardiovascular testing products; risk of changes in the reimbursement landscape for its customers including related to the CMS rate announcement; risk of obtaining a new 510(k) clearance for expanded indications; along with those other risk factors detailed in Semler Scientific's filings with the Securities and Exchange Commission. These forward-looking statements involve assumptions, estimates, and uncertainties that reflect current internal projections, expectations or beliefs. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. All forward-looking statements contained in this press release are qualified in their entirety by these cautionary statements and the risk factors described above. Furthermore, all such statements are made as of the date of this release and Semler Scientific assumes no obligation to update or revise these statements unless otherwise required by law.

INVESTOR CONTACT:

Renae Cormier
Chief Financial Officer
ir@semlerscientific.com

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SOURCE Semler Scientific, Inc.

FAQ

How many bitcoins did Semler Scientific (SMLR) purchase in June 2024?

Semler Scientific purchased an additional 247 bitcoins in June 2024.

What is the total number of bitcoins held by Semler Scientific (SMLR) as of June 2024?

As of June 2024, Semler Scientific holds a total of 828 bitcoins.

How much did Semler Scientific (SMLR) spend on their latest bitcoin purchase?

Semler Scientific spent $17 million on their latest bitcoin purchase, inclusive of fees and expenses.

What is the total investment in bitcoin by Semler Scientific (SMLR) as of June 2024?

As of June 2024, Semler Scientific has invested a total of $57 million in bitcoin.

What are Semler Scientific's (SMLR) strategies as mentioned in the press release?

Semler Scientific is focused on expanding its healthcare business and acquiring and holding bitcoin.