Business
Mednow Announces the Execution of Cost Reductions Through the Wind-Down of a Subsidiary
Mednow Announces the Execution of Cost Reductions Through the Wind-Down of a Subsidiary.
About this update from Mednow Inc.
[{"type":"text","content":"\nMednow Inc. (TSXV: MNOW) (OTCQX: MDNWF), Canada’s on-demand virtual pharmacy, announced today that Infusicare Inc. (“Infusicare”) has permanently ceased ordinary course business operations.\n\n\nInfusicare’s shutdown is part of Mednow’s ongoing efforts to improve its business by, among other things, eliminating underperforming business lines, in accordance with its previous announcements.\n\n\nMednow has also received a demand letter from a supplier for $1.5 million. Mednow is in continued discussions with the supplier.\n\n\nAbout Mednow\n\n\nMednow (TSXV: MNOW) (OTCQX: MDNWF) is a healthcare technology company offering virtual access with a high-standard of care. Designed with accessibility and quality of care in mind, Mednow provides virtual pharmacy and telemedicine services as well as doctor home visits through an interdisciplinary approach to healthcare that is focused on the patient experience. Mednow’s services include free at-home delivery of medications, doctor consultations, a user-friendly interface for easy upload, transfer, and refill of prescriptions, access to healthcare professionals through an intuitive chat experience and the specialized PillSmart™ system that packages prescriptions in easy to use daily dose packs, each labeled with the date and time of the next dose.\n\n\nNeither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.\n\n\nCautionary Note Regarding Forward-Looking Statements:\n\n\nThis release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding Mednow expecting to maintain its standard of pharmacy care, while reducing operational costs, is a forward-looking statement and contains forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “couldR...