Greenacres, Florida, USA (December 7, 2020) – OXIO Health, Inc.® (“OXIO”) announces today that Total Care Medical Group, Inc. (SM) (TCM), a subsidiary of one of its Portfolio companies, Total Care America(SM), Inc. (TCA), has executed a Letter of Intent (LOI) to acquire its first medical practice in Central Palm Beach County, Florida.
The practice being acquired has served the primary care needs of an estimated 10,000 patients since it was founded in 2002 and is currently serving 1,500 patients of record. The practice is served by one (1) Board Certified Doctor of Osteopathic Medicine (DO), founder and owner/operator. The DO will continue to provide care post-acquisition, along with existing staff including a nurse (RN) and a nurse practitioner (ARNP). The DO will also join the OXIO Medical Executive Committee as Vice President of Medical Operations after acquisition is closed.
Noel J. Guillama, President of OXIO Health, Inc. commented “the challenges of operating a single or small primary care physician practice have been increasing annually with the financial pressure from lower reimbursement and increasing costs to address substantial government regulations, including new technology mandates, and continuously expanding requirements. However, the impact of the recent COVID-19 pandemic has had a crippling effect on primary care practices nationwide; an impact that is yet to be fully realized in our communities. Beginning with this practice, TCM will implement a new operating plan for all acquired practices with the latest company owned and developed technology to better manage patient care both in the office and remotely. This plan allows doctors more face-to-face time with their patients by better using technology developed by other OXIO portfolio companies, streamlining support personnel, changing the physical location and optimizing workflow. We are, in fact, using many systems and processes that have transformed every other industry to re-engineer the practices to both improve quality of care and reduce operating cost.”
The Company reported that due diligence and implementation of new operating systems will begin almost immediately and following clearance by regulatory authorities and mandatory legal processes, will expect to close on the acquisition by the 2nd Quarter of 2021.
Mr. Guillama added “our goal is to bring together medical practices that have suffered greatly during the COVID-19 restrictions and help them prepare for the new way healthcare will be delivered that includes a greater emphasis on home care, remote care with connected devices and through newly modernized medical centers we have on the drawing board. With 30 years of practice management and contracting experience, we also seek to improve the financial and quality of life for providers as they become part of TCM family. We expect by end of 2021 TCM will have 20 or more medical practice acquisitions closed, contracted or under LOI.”
About Total Care America™, Inc.
Total Care America (TCA) is a 4th generation practice management operator that will assist challenged primary care physicians (PCPs) and some expanded PCP critical service providers. We are merging a previously proven business model with our new state of the art technologies and systems; in fact, creating a new way for physicians to practice and for patients to be treated – a truly patient-centric way. We merge the art, science and technology of healthcare (SM) into what we call “technology-infused healthcare(SM). Our providers will be able to spend more time with patients and be able to use home care, remote care and revolutionary new medical facilities designed for modern healthcare delivery. By 2022, TCA will be consolidating all practices to use PWeR®, the cutting-edge, patented and patent-pending healthcare EHR/Telemedicine technology platform designed to bridge the gap between patient communication and exchange of patient information throughout the healthcare delivery continuum on a real-time basis. PWeR can integrate the functions of a primary care physician/provider, specialty practice physician, clinicians, and related professionals simultaneously onto one patient-centric, web-based platform. We are positioned to be a catalyst for change as we take aim at the $700 billion inefficiency gap in the United States healthcare industry.
About OXIO Health®, Inc.
OXIO Health, Inc. is a new, multifaceted healthcare innovations company that realized medical care and medical technology had to be merged into a new, 21st century platform, to bring more value and improve quality; much of which still remains elusive in healthcare today. Healthcare in the U.S today is a US$3.5 trillion industry with expectation to reach over US$6 trillion by 2030, as 10,000 new baby boomers reach retirement age daily through this period. We have assembled the best systems in our Portfolio of Companies driven to be change agents in this industry that has resisted change for 50 years; however, due to the lessons-learned from the COVID-19 pandemic patients, providers and payors are now more receptive of these needed changes in the delivery of care.
For more information on both OXIO Health and Total Care America visit www.oxiohealth.io
United States of Helathcare Blogs: https://oxiohealth.io/news-3/
Healthcare 2030 Podcast: https://oxiohealth.io/podcasts/
Noel J. Guillama, President
6801 Lake Worth Road, Ste. 302
Greenacres, FL 33467
Certain statements contained in this news release, which are not based on historical facts, are forward-looking statements as the term is defined in the Private Securities Litigation Reform Act of 1995 and are subject to substantial uncertainties and that may cause actual results to materially differ from projections. Forward-looking statements can be identified by the use of words such as “expects,” “plans,” “will,” “may,” “anticipates,” “believes,” “should,” “intends,” “estimates” “could” and other words of similar meaning. These statements are subject to risks and uncertainties that cannot be predicted or quantified and, consequently, actual results may differ materially from those expressed or implied by these forward-looking statements. Such risk factors include, without limitation, the ability of the Company to properly execute its business model, to raise substantial and immediate additional capital to implement its business model, to continue revenue growth trend in fiscal year(s) 2021 and beyond, , to control patient medical cost relative to income received, to attract and retain executive, management and operational personnel, to continue growing its patient base, to negotiate favorable current debt and future capital raises, to negotiate favorable agreements with a diversified provider base and to continue to supply the services needed by future HMO clients as well as physician member and clients. We have further risk in the deployment of our technology platform, the utilization by our clients, technical and software setbacks, cost of development, as well as the capital to deploy it. We are subject further to interruptions of service. Company does not undertake any obligation to publicly update any forward-looking statements. As a result, investors should not place undue reliance on these forward-looking statements. On January 30, 2020, the World Health Organization (“WHO”) announced a global health emergency because of a new strain of coronavirus (the “COVID-19 Outbreak”). In March 2020, the WHO classified the COVID-19 Outbreak as a pandemic, based on the rapid increase in exposure globally. The full impact of the COVID-19 Outbreak continues to evolve. The impact of the COVID-19 Outbreak on the Company’s activities is unpredictable.