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Premier Health of America awarded initial $1.4 million contract to provide nursing care in Nunavik

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Premier Health of America, a Canadian Healthtech company providing a comprehensive range of outsourced services solutions for healthcare needs to governments, corporations, and individuals, has won a tender for a significant contract to supply independent nursing care to the Ungava Tutattavik Health Center in Nunavik.

Additional Information:

Company: Premier Health of America
Website: http://www.PremierHealth.ca
Stock Symbol: TSXV: PHA
Date Published: Jan 6, 2021
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

Premier Health of America, a Canadian Healthtech company providing a comprehensive range of outsourced services solutions for healthcare needs to governments, corporations, and individuals, has won a tender for a significant contract to supply independent nursing care to the Ungava Tutattavik Health Center in Nunavik.

The company’s wholly owned subsidiary, Premier Soin Nordik, has been contacted to provide independent nursing care in relation to the COVID-19 health emergency.

The contract, estimated at $1.4 million for an initial 6 months, has a renewal option for an additional 6 months.

Premier Soin Nordik, created to address the challenges of providing extended services in the Northern regions of several Canadian provinces, has developed an in-depth expertise in the management and logistics of healthcare services in remote northern regions.

Nunavik, a territory corresponding to the vast Quebec region north of the 55th parallel, covers about one third of the province and is composed of 14 villages scattered along the coasts of Hudson Bay, Hudson Strait and Ungava Bay.

More than half of Nunavik's population is under the age of 26 and 75% of its residents have not reached the age of 35.

Martin Legault, CEO, stated: “Supporting remote Canadian regions with quality healthcare services is precisely why our subsidiary was created. The expertise we developed over the years enables us to offer better training and accordingly better services.”

Premier Health uses its proprietary PSweb software platform to lead the healthcare services sector digital transformation to provide patients with faster, cheaper and more accessible care services in multiple segments including emergency rooms and operating rooms personnel, medical transport and remote location specialists.

For its fiscal year ended September 30, 2020, the company reported a 78.5% increase in revenue from $11.6 million to $20.7 million, attributable to long-term contract renewals, changes in Quebec legislation, and an increased number of hours billed.

Subsequent to its year end, in November, Premier Health completed the acquisition of Montreal-based Code Blue for a total consideration of $17 million.

For the year ending December 31, 2019, Code Bleu generated revenues of approximately $29.3 million, EBITDA of $3.9 million and net income of $2.8 million.

Martin Legault, CEO, added: “2020 was a period of many important milestones that we achieved while navigating through unprecedented times and I say with confidence that we surpassed our initial objectives. These strong results and our recent major acquisition put us on an exceptional growth trajectory for 2021.”

The company plans to continue with its strategy of acquisitions and organic growth to increase its geographical presence across Canada and eventually into the United States.

The shares are trading at $0.87.

For more information, please visit the company’s website www.PremierHealth.ca, contact Jean-Robert Pronovost, Vice-President, Corporate Development at 514-581-1473 or email jrpronovost@PremierHealth.ca.

I’m Cassandra Bolinski for Investmentpitch Media