May 17, 2022 (PRNewswire via COMTEX) -- PR Newswire
DELRAY BEACH, Fla., May 17, 2022
DELRAY BEACH, Fla., May 17, 2022 /PRNewswire/ -- UpHealth, Inc. /zigman2/quotes/213039612/composite UPH -1.34% today announced that its telehealth platform, Martti(TM), has achieved 53% growth in Q1 and an estimated $8 million in new contract value over the past 3 years.
Martti(TM) is a telehealth platform that provides language interpretation at the point of care. The platform interoperates with electronic health records (EHRs) and patient experience platforms. The platform's language access solution supports more than 250 languages and connects patients and care teams 24/7 with certified and qualified medical interpreters.
As of Q1, Martti(TM) is present in 2,300 healthcare venues across the United States. Its Q1 growth reached more than 575,423 additional patients and more than 9,390,844 minutes of additional care. Increased consultation volumes drove higher revenues and an 11% increase in gross margins.
"The people behind Martti(TM) are a committed team of innovators dedicated to addressing healthcare disparities across the nation, working toward a future in which patients can receive care at any time, in any place, on any device and in any language," said Andy Panos, President of U.S. Telehealth at UpHealth. "We are thrilled at the growth that Martti(TM) is experiencing, helping us continue to develop platforms that restore the joy in our clients' work by allowing them to focus on people instead of technology."
In Q1, Martti(TM) was also awarded two large and long-term language interpretation contracts with Ascension and Wellstar and has two additional large long-term contracts in progress for Q2. The top languages in the newest facilities at Texas Ascension and Wellstar are Spanish, Vietnamese and Burmese.
"Martti(TM) revolutionized patient and provider communication by introducing video remote interpreting (VRI) into the market and its continued growth is a testament to our commitment at UpHealth to help enable healthcare systems to support healthier individuals and communities," said Martin Beck, CFO of UpHealth. "We're committed to innovation and continuous improvement of our services as well as the integration of Martti into our other platforms, including SyntraNet, so care providers and community services agents will be able to communicate with patients and caregivers in their preferred language 24/7."
Overall Martti(TM) interpretation satisfaction among providers sits at 4.8 out of 5 stars. For more information about Martti(TM), please visit https://uphealthinc.com/martti .
UpHealth is a global digital health company that delivers digital-first technology, infrastructure, and services to dramatically improve how healthcare is delivered and managed. UpHealth's solutions holistically enable clients to deliver on their affordability, access, quality, outcomes, and patient experience goals. UpHealth's technology platform helps its clients improve access, coordinate care teams, and achieve better patient outcomes at lower cost, with care management solutions, analytics, and telehealth tools that serve patients wherever they are, in their native language. Additionally, UpHealth's technology-enabled virtual care infrastructure and services improves access to quality primary and acute care, behavioral health, and pharmacy services. UpHealth's clients include health plans, global governments, healthcare providers and community-based organizations.
This press release contains forward-looking statements within the meaning of U.S. federal securities laws. Such forward-looking statements include, but are not limited to, the contact value for UpHealth's telehealth platform, and UpHealth's product offerings and developments and reception of its product by customers, and its expectations, hopes, beliefs, intentions, plans, prospects or strategies regarding the future revenue and the business plans of UpHealth's management team. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. In addition, any statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intends," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this press release are based on certain assumptions and analyses made by the management of UpHealth in light of their respective experience and perception of historical trends, current conditions, and expected future developments and their potential effects on UpHealth as well as other factors they believe are appropriate in the circumstances. There can be no assurance that future developments affecting UpHealth will be those anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the parties), or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, including the mix of services utilized by UpHealth's customers and such customers' needs for these services, market acceptance of new service offerings, the ability of UpHealth to expand what it does for existing customers as well as to add new customers, that UpHealth will have sufficient capital to operate as anticipated, and the impact that the novel coronavirus and the illness, COVID-19, that it causes, as well as government responses to deal with the spread of this illness and the reopening of economies that have been closed as part of these responses, may have on UpHealth's operations, the demand for UpHealth's products, global supply chains and economic activity in general. Should one or more of these risks or uncertainties materialize or should any of the assumptions being made prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws.
SOURCE UpHealth, Inc.
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