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Technology Companies Find Opportunity as Healthcare Goes Digital

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FN Media Group Presents Market Commentary

New York, NY – May 4, 2021 – From telecommuting with medical professionals to filling and paying for prescriptions online through digital pharmacies, digital health services are exploding for their convenience and accessibility, particularly during a global health crisis like the one we are facing now. Spurred on both by this digital health services boom, as well as by the huge surge in e-commerce, the North American digital pharmacy market is projected to grow at a 14.1% CAGR to reach $149 billion by 2026. These trends are driving huge market opportunities for companies in digital health services spaces like Mednow Inc. (TSXV:MNOW), Teladoc Health (NYSE:TDOC),, Inc. (NASDAQ:AMZN), CVS Health Corp (NYSE:CVS), and Goodrx Holdings Inc (NASDAQ:GDRX).

Mednow is Aiming to Build Canada’s National E-Pharmacy

As the telehealth and e-pharmacy spaces continue to surge and develop, Mednow Inc. (TSXV:MNOW) is looking to become the dominant digital health company in Canada. The company offers a holistic suite of digital healthcare services, including facilitating digital appointments with partnered healthcare professionals through its cutting-edge telehealth platform and providing seamless medication delivery. Mednow is currently operational throughout British Columbia and Ontario, with fulfillment center pharmacies in Vancouver and Toronto.

On May 4, Mednow announced that the company had formed Mednow Virtual Care Ltd, a proprietary telemedicine service that will seamlessly integrate with Mednow’s other services and technologies while providing patients with convenient access to partnered medical professionals. The service will launch in Ontario in Q2 2021.

“Consumers remain loyal to the pharmacies that provide the best service and we believe this is enhanced with access to a single digital platform for physician and pharmacy services. ,” Mednow CEO Karim Nassar said in the company’s release. “With the launch of Mednow Virtual Care, Mednow’s patients will receive seamless interdisciplinary care on the virtual platform in addition to the convenience of all of their pharmacies needs delivered to their doorstep.”

On March 26, Mednow announced the company’s financial results for the period ending January 31, 2021, along with a series of operational milestones. These included: (i) competing an equity financing for gross proceeds of $37,073,194; (ii) introducing an at-home automated medication management tool through a partnership with AceAge Inc; and (iii) launching same-day delivery in the Greater Vancouver Area.

“With over $33 million of cash on hand, we are focused on the rapid growth of our platform. We continue to strive to expand our platform to reach expanded national coverage, develop a proprietary telemedicine platform, add users and provide an unparalleled user experience for Canadian patients. We are acting with expedience in delivering these milestones given the current opportunity for the growth and acceptance of virtual pharmacy care in the Canadian pharmacy and healthcare markets,” said Nassar in the company’s release.

Companies Expand Services in Surging Digital Health Space

In October last year, Teladoc Health (NYSE:TDOC) completed its merger with Livongo Health, becoming one of the biggest players in the telehealth space. On January 11, Teladoc partnered with DexCom, Inc to offer real-time blood glucose monitoring functionality to its platform at no extra cost to diabetic users. On February 11, the company announced that it would be offering free virtual healthcare services to people impacted by the winter storms in Texas and Oklahoma.

In 2018,, Inc. (NASDAQ:AMZN) entered the digital health space with the acquisition of digital pharmacy service Pillpack for $753 million. Amazon followed that purchase up in 2019 with the acquisition of telehealth platform Health Navigator before rolling these services into its Amazon Care brand.

CVS Health Corp (NYSE:CVS) launched its own prescription delivery service in 2018 and expanded the service for same-day delivery in 2019. In January, the company introduced the Symphony medical alert system, which uses wearable devices to help caregivers monitor at-risk patients for falls, motion, and room temperature, while also providing a 24/7 personal emergency response capabilities.

Employee healthcare services company Goodrx Holdings Inc (NASDAQ:GDRX) announced in December that the company would be adding telehealth and prescription delivery services to the company’s membership savings program. Goodrx is an employee discount service that connects members with partnered healthcare services at reduced rates.

Digital health services like telehealth and online pharmacies are making healthcare more accessible, easier, and safer than ever before, and companies like Mednow (TSXV:MNOW) are setting up to be leaders in this emerging market.

Mednow will be hosting a webcast investor presentation on Tuesday, May 4, 2021 at 1pm ET.  During the webcast, Karim Nassar, Chief Executive Officer, and Ali Reyhany, President, will provide a business update on Mednow’s national expansion and recent strategic milestones.

Webcast details:

Zoom ID 832 0577 7592
Passcode 372831

Click here to find out more about Mednow Inc. (TSXV:MNOW).

Disclaimer: (MSC) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with MSC or any company mentioned herein. The commentary, views and opinions expressed in this release by MSC are solely those of MSC and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable MSC and FNM for any investment decisions by their readers or subscribers. MSC and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author (MSC), and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author (MSC) has not independently verified or otherwise investigated all such information. None of the Author, MSC, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment. FNM was not compensated by any public company mentioned herein to disseminate this press release but was compensated twenty five hundred dollars by MSC, a non-affiliated third party to distribute this release on behalf of Mednow Inc.


This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MSC and FNM undertake no obligation to update such statements.

Media Contact:

FN Media Group, LLC

[email protected]




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