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MCI Vonehealth . MCI Onehealth Reports Third Quarter 2021 Financial Results November 15 , 2021 NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES • Quarterly revenue of $ 12.6 million , up 29 % over the same period last year , driven by higher patient volumes , growth in corporate health customers and two significant business acquisitions in 2021 . The company continues to make strategic acquisitions and investments , including the $ 7.1 million acquisition of the Polyclinic Group of Companies ( " Polyclinic " ) and participation in the Series 1 Seed financing round of ORO Health , Inc. ( " ORO " ) in Q3 2021 . • Khure Health Inc. ( " Khure " ) signs its largest contract to date with a global top 10 pharmaceutical manufacturer . • All clinics once again operating as COVID - 19 recovery continues . • Robust acquisition pipeline with several substantial opportunities under consideration . • Adjusted EBITDA ( 1 ) for the quarter was negative $ 1.8 million and net losses were $ 5.4 million . TORONTO , Nov. 15 , 2021 ( GLOBE NEWSWIRE ) MCI Onehealth Technologies Inc. ( " MCI " or the " Company " ) ( TSX : DRDR ) , a clinician - led healthcare technology company focused on increasing access to and quality of healthcare , today released its financial results for the three- and nine - month periods ended September 30 , 2021 . " We are pleased with the momentum we have been able to build as the acquisition and integration of Khure Health and Polyclinic into our platform nears completion and the last of our clinics resume full operations coming out of the COVID - 19 restrictions from earlier this year , " said Dr. Alexander Dobranowski , CEO of MCI . " We are continuing to focus on identifying strong , strategic acquisitions , while also turning our attention towards capitalizing on opportunities to create synergies between our existing and newly acquired businesses . " A summary of MCI's financial and operational highlights for the quarter are set out below , and more detailed information is contained in the financial statements and related management discussion and analysis , which are available on MCI's SEDAR page at www.sedar.com . Financial measures described as " Adjusted " in this news release are non - IFRS financial measures and may not be comparable to other similar measures disclosed by other companies . Please see Non - IFRS Financial Measures below for more information . Third Quarter 2021 Financial Highlights Significant financial highlights for MCI during the third quarter of 2021 included : • Revenue Growth Year - on - year : Revenue for the third quarter of 2021 increased 29 % over the same period in 2020 , driven by the ongoing recovery of publicly - insured health services , ongoing growth from corporate health services , and revenue contributed by recently acquired businesses . Total revenue for the three months ended September 30 , 2021 was $ 12.6 million , compared to total revenue of $ 9.8 million in the comparable period in 2020. Revenue contributions from 2021 acquisitions of Khure and Polyclinic accounted for 44 % of the growth , and their contributions are expected to continue to increase as the businesses are integrated , with revenue synergy opportunities already being realized in the fourth quarter of 2021 . • Increased Patient Volumes : Patient volumes grew approximately 31 % , year - on - year , excluding increases from acquired businesses in 2021. Patient volumes continued to improve despite continuing COVID - 19 restrictions as patients and physicians become more comfortable with virtual channels and pent - up demand for health services continues to grow . • Growth in Corporate Customers : The Company added 27 new corporate health customers in the third quarter of 2021 , including a major insurance company for which MCI is now coordinating national appointments for plan members , and has become a preferred vendor for Destination Toronto , providing pre - travel concierge travel testing programs and other services . • Liquidity : Cash was $ 9.98 million at the end of the quarter , compared to $ 0.89 million in the same quarter last year , ensuring short- and medium - term capital requirements are met while the Company continues to pursue new strategic acquisitions and to develop and implement the Company's data - driven healthcare initiatives .