Fast Paced Recurring Revenue Growth Potential based on Large Revenue Contracts Backlog
NEW YORK , Sept. 20, 2021 /PRNewswire/ — AIkido Pharma Inc. (Nasdaq: AIKI) (“AIkido” or the “Company”) today announced that the Company secured an early equity interest in tele-health company, Kerna Health ( https://kernahealth.com ).
Kerna Health is a next-generation digital health monitoring and virtual care company that is exhibiting growing momentum. The Company is fast developing a large backlog of shared revenue contracts, typically executed with partner/customers like multi-hospital chains and smaller hospitals, LTC (long term care) companies, large physician practices, ACO’s, and other major healthcare players, who are looking for better patient outcomes, large untapped revenues, and lower healthcare costs through such contracts, by onboarding their large patient populations on Kerna’s technology platform for remote patient monitoring of chronic illness. The Company’s backlog of such executed contracts is already at the $25 million mark in pro-forma shareable revenues, and with additional in-process contracts could grow to $50 million in the short term, and $400 million after that – evidence of a clear growth trajectory.
Kerna utilizes advanced software and online technologies, coupled with at-home health and physiologic monitoring devices like glucose meters, blood pressure cuffs, weight scales, and others, to better manage chronic illness, such as cardiac diseases, diabetes, and long-term wounds.
The technology platform gathers daily readings securely transmitted by devices used by patients, at home, in long term or transitional care facilities, or hospitals, and based on programmed criteria sends alerts to a patient’s primary and specialty care providers, as well as to the patients themselves or their families.
In addition to the physiologic data monitoring associated with such diseases, Kerna’s platform also offers complementary health support services that utilize expert content and behavior changing recommendations and initiatives, under the direction of social workers and other non-clinical professionals using relevant Kerna digital technologies. An example is the behavioral health integration program designed, paid for, and recommended by CMS/Medicare. ( https://www.cms.gov/Outreach-and-Education/Medicare-Learning-Network-MLN/MLNProducts/Downloads/BehavioralHealthIntegration.pdf ).
Anthony Hayes , CEO of AIkido stated, “After COVID, the use of telemedicine and digital health services, such as those provided by Kerna, has sky-rocketed. This is also evidenced by the brand-name customers, revenue contracts backlog that the Company is onboarding to recognize as recurring revenues during the coming year for itself and its healthcare provider partner/customers, and by the growing pipeline for Kerna’s technology platform. We are excited for Kerna’s future and glad to be a part of it, especially as their traction could lead toward a potential IPO. This transaction fits perfectly with our growth strategy as we continue our momentum with a clear focus on monetization and liquidity events for our shareholders. Additionally, we are in a number of additional advanced business development discussions that we are aiming to close in the near future.”
Crystal Lore , Chief Revenue Officer of Kerna noted, “First, we are honored and excited to be associated with the AIkido Pharma team. In addition to investment benefits, we believe that the health data accumulated by Kerna could also be a basis for collaboration with AIkido. I have been a business and revenue development professional working in the Medicare space for over 20 years for companies that we grew fast enough for multi-billion dollar exits – even years before now when the space has heated up as it has. That experience simply doesn’t compare with the current market excitement, focus on digital health and remote patient monitoring, and customer demand for online health monitoring technologies and services we have at Kerna. Post-COVID and the new-found focus on tele-health, there is a market push for remote patient monitoring solutions by Medicare, on the one hand, and a market pull by healthcare providers, on the other. Hospitals, long term care facilities, and Doctor practices, see large untapped incremental revenues by becoming Kerna customers/partners, while also providing better health outcomes to their patients. The demand is such that we are already generating a contract backlog of annual remote patient monitoring revenues with these healthcare partner/customers that could qualify for a Kerna IPO in the very near term.”
About AIkido Pharma Inc.
AIkido Pharma Inc. was initially formed in 1967 and is a biotechnology Company with a diverse portfolio of small-molecule anti-cancer therapeutics. The Company’s platform consists of patented technology from leading universities and researchers, and we are currently in the process of developing an innovative therapeutic drug platform through strong partnerships with world renowned educational institutions, including The University of Texas at Austin and University of Maryland at Baltimore . Our diverse pipeline of therapeutics includes therapies for pancreatic cancer and prostate cancer. We are constantly seeking to grow our pipeline to treat unmet medical needs in oncology. The Company is also developing a broad-spectrum antiviral platform that may potentially inhibit replication of multiple viruses including Influenza virus, SARS-CoV (coronavirus), MERS-CoV, Ebolavirus and Marburg virus.
Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company’s filings with the SEC, not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
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SOURCE AIkido Pharma Inc.
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