Tapping into the fast-growing, multi-billion dollar US telehealth market
CHICAGO, IL / ACCESSWIRE / January 20, 2023 / Cosmos Health, Inc. (“the enterprise”) (Nasdaq:COSM), a global healthcare group with proprietary lines of nutraceuticals and distributor of pharmaceuticals, branded generics, OTC drugs and medical devices, today announced that it has expanded and updated its previously issued non-binding letter of intent to acquire ZipDoctor Inc. by American International Holdings Corp (AMIH). Cosmos Health successfully renegotiated ZipDoctor’s acquisition price to achieve significantly improved payment terms. The updated MOU is valid until February 15, 2023.
ZipDoctor Inc., a wholly owned subsidiary of American International Holdings Corp. (OTC: AMIH), is a subscription-based telemedicine platform that offers its clients affordable, unlimited, 24/7 access to board-certified physicians and licensed mental and behavioral health counselors and therapists. ZipDoctor’s online telemedicine platform will be available to customers in the United States and will offer coverage in English and Spanish, with virtual visits taking place either by phone or via a secured video chat platform. ZipDoctor customers can sign up through their website at www.ZipDoctor.co and only need to pay a monthly fee based on whether they are an individual, couple or family.
Greg Siokas, Chief Executive Officer of Cosmos Health, said, “We are excited about the proposed addition of ZipDoctor to the Cosmos Heath family of companies. may become a significant player in this space. In addition, we intend to expand ZipDoctor’s current offerings in primary care and mental health to include the ability to speak to a doctor for additional medical treatments related to and including health and to maintain the well-being of men and women, weight loss and other similar treatments. In addition, we are pleased with the renegotiated price of the acquisition as we continue to strive to improve our return on investment.”
According to Nova One Advisor, the size of the US telemedicine market was estimated at US$23.8 billion in 2021 and is projected to grow to US$309.9 billion by 2030, at a compound annual growth rate (CAGR) of 45, 1% from 2022 to 2030 equates to Health Care Specialists and General Practitioners in US is one of the key factors expected to accelerate market growth in US according to Association of American Medical Colleges (AAMC) estimates. In between, there is an estimated 37,800 primary care and specialty physician shortages and 124,000 physicians by 2034. In 2021, the Centers for Medicare and Medicaid Services expanded the reimbursable telemedicine codes for the 2021 Physician Fee Schedule.
Update on the ongoing review of COSM trading patterns: Cosmos would like to inform investors that it has recently received trading activity data from Shareholder Intelligence Services, LLC. Management carefully examines the data to develop the next course of action.
About Cosmos Health, Inc
Cosmos Health Inc. (Nasdaq:COSM) is a global healthcare company founded in 2009 and headquartered in Chicago, Illinois. Cosmos Health operates in the nutraceutical sector through its own proprietary product lines Sky Premium Life and Mediterraneanation. In addition, the Company is active in the pharmaceutical sector by offering a wide range of branded generic and OTC medicines and is active in the healthcare distribution sector through its subsidiaries in Greece and the UK which supply retail pharmacies and wholesalers. Cosmos Health is strategically focused on the research and development of novel patented nutraceuticals (IP) and specialty root extracts, as well as the research and development of proprietary complex generics and innovative OTC products. Cosmos has developed a global distribution platform and is currently expanding throughout Europe, Asia and North America. Cosmos Health has offices and distribution centers in Thessaloniki and Athens, Greece and Harlow, UK. For more information, visit www.cosmoshealthinc.com and www.skypremiumlife.com.
Except for historical information contained in this press release, the matters discussed herein may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by followed by or otherwise contain the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans” and similar expressions or future or conditional verbs such as ” will”, “should”, “would”, “may” and “could” are generally forward-looking in nature and are not historical facts, although not all forward-looking statements include the foregoing. These statements involve unknown risks and uncertainties that may individually or materially affect the matters discussed herein for a variety of reasons beyond the Company’s control, including, but not limited to, the Company’s ability to obtain adequate funding for the implementation of the business plan, the impact of the COVID-19 pandemic and the war in Ukraine on the Company’s business, operations and economy generally, and the Company’s ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward-looking statements, as actual results may differ materially from the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the company’s filings with the SEC, which are available at the SEC’s website (www.sec.gov). The Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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SOURCE: Cosmos Health Inc.
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