Business
Kovo HealthTech Reports US Healthcare Billing-as-a-Service Industry Showing Stability and Growth
Company exploring opportunities to expand its Northeast US presence Vancouver, British Columb...
About this update from Kovo+ Holdings Inc
[{"type":"text","content":"Kovo HealthTech Reports US Healthcare Billing-as-a-Service Industry Showing Stability and GrowthCompany exploring opportunities to expand its Northeast US presenceVancouver, British Columbia--(Newsfile Corp. - June 30, 2022) - Kovo HealthTech Corporation (TSXV: KOVO) (the \"Company\" \"Kovo\") — a leader in healthcare Billing-as-a-Service — confirmed it is now focusing on evaluating potential acquisition targets that would help it expand its market presence in the Northeastern US.Due Diligence Underway on Potential US Acquisition TargetsAs the Company continues to focus on strengthening its fundamentals, including being cash flow positive and working capital positive as of Q1 2022, CFO Inder Saini confirms that Kovo is in active due diligence on a number of potential acquisition targets aimed at expanding its presence in the Northeastern US.\"Kovo is active in every region of the US and for the rest of 2022, we're looking at strengthening our team and client roster in the Northeastern USA,\" says Saini, adding that the Company will continue to keep investors updated throughout the Summer as it proceeds through due diligence on a number of potential targets. Billing-as-a-Service Delivers Predictable, Stable Growth \"Although global uncertainty, inflation, supply chain issues and continued staffing impacts related to the global pandemic continue to affect many industries, US healthcare Billing-as-a-Service continues to grow at a stable and predictable rate and as we moved into Spring, healthcare billing trended upwards as we anticipated and have seen in previous years,\" reports Kovo CEO Greg Noble. According to Noble, although Kovo posted 246% Year-over-Year (\"YOY\") revenue growth in Q1 2022, healthcare outsourced billing historically experiences slightly reduced claims volumes early in the New Year as insurance deductibles reset, before rebounding in Spring, he says, adding that 2022 is following this trend. Learn more about the Billing-as-a-Service market by watching a brief CEO video interview.Learn more about Kovo's immediate and short-term growth vision and acquisition strategy by watching a brief video Investor Presentation by Kovo CFO Inder Saini.Company Grants Shares As part of its Stock Incentive plan — which is outlined in the Company Prospectus available on www.sedar.com — and subject...