MCI Onehealth Announces Investment in and Commercial Support for Acorn Biolabs, Inc., Paving New Frontier in Precision Medicine
- MCI Onehealth makes strategic investment in leading edge stem cell collection technology
- Exciting step forward on precision health and technology roadmap
- MCI will also provide commercial support to Acorn by offering Acorn’s service throughout the MCI clinic network
- Acorn’s innovative technology allows for affordable non-invasive stem cell collection and cryostorage as a monthly subscription service, in addition to providing next-generation genetics and live cell analytics
- Grants patients future access to address personalized, biological needs
TORONTO, April 15, 2021 (GLOBE NEWSWIRE) -- MCI Onehealth Technologies Inc. ("MCI Onehealth", “MCI” or the "Company") (TSX: DRDR), a clinician-led healthcare technology company focused on increasing access to and quality of healthcare, has announced an investment of $250,000 with Acorn Biolabs, Inc. (“Acorn Biolabs,” “Acorn”), a Toronto-based biotechnology company. Acorn Biolabs is revolutionizing regenerative and precision medicine through its easy, affordable, and non-invasive stem cell collection, analysis, and cryopreservation service which is up to 80 per cent more cost-effective than the current exclusionary industry average.
This investment allows MCI Onehealth to accelerate execution of its precision health and technology roadmap, while also supporting the Company’s long-term vision of building a data-driven, technology-enabled health services platform. As a leader in primary care, MCI Onehealth’s collaboration with Acorn Biolabs further expands MCI’s business from a brick-and-mortar clinic network towards a data-driven, technology-enabled health services platform.
“MCI Onehealth is unlocking an exciting new phase of precision medicine that will play an integral role in the future of healthcare,” said Alexander Dobranowski, MD, CEO of MCI Onehealth. “By expanding our personalized and preventative healthcare services through innovations like Acorn’s industry-leading stem cell harvesting and storage, our ongoing mission to improve patient outcomes and save lives is made significantly stronger.”
In addition to the capital investment, MCI will be providing commercial support to Acorn’s innovative solution for live cell collection. Select MCI clinics will begin offering Acorn services, including non-invasive hair follicle-based stem cell collection and storage, as well as live cell and genetic analytics, with availability throughout the MCI network by the end of the year.
By freezing a patient’s healthy cells and allowing them to be leveraged when needed, Acorn Biolabs aims to give its patients the ability to live longer, healthier lives through regenerative medicine.
“This is just the beginning of our story with MCI Onehealth as both a capital investor in our stem cell technology, and by offering it to an entirely new audience of Canadians,” said Dr. Drew Taylor, Co-founder and CEO at Acorn Biolabs. “This is a very exciting opportunity which integrates our technology into MCI’s large and well operated network of medical clinics and allows us to have a role in advancing precision health as a whole.”
This strategic relationship will allow MCI Onehealth to provide commercial support to Acorn Biolabs by offering its innovative and industry leading affordable stem cell collection and storage to its 850,000+ yearly patients while also expanding their selection of service offerings. MCI Onehealth is committed to growth as a means of empowering physicians and putting patients’ health first.
As a leader in primary care, MCI Onehealth’s partnership with Acorn Biolabs further expands its business from a brick-and-mortar clinic network towards a data-driven, modernized technology-enabled health services platform.
About Acorn Biolabs, Inc.
Acorn helps you prepare for the future of regenerative medicine by banking your best cells today. Led by Dr. Drew Taylor and borne out of years of research, Acorn is a healthcare technology company based in Toronto and backed by investors including Real Ventures, Globalive, Pool Global Partners and Epic Capital Management. Acorn is focused on giving every individual the opportunity to live a longer, healthier life with its patented non-invasive stem cell collection, analysis and cryopreservation service. For more information, visit acorn.me
About MCI Onehealth
MCI Onehealth is a healthcare technology company focused on empowering patients and doctors with advanced technologies to increase access, improve quality, and reduce healthcare costs. As part of the healthcare community for over 30 years, MCI Onehealth operates one of Canada’s leading primary care networks with 25 clinics, serves over 850,000 patients annually and had over 200,000 telehealth visits last year. MCI Onehealth additionally offers an expanding suite of occupational health service offerings that support a growing list of over 250 corporate customers. Led by a proven management team of doctors and experienced executives, MCI Onehealth remains focused on executing a strategy centered around acquiring technology and health services that complement the company’s current roadmap.
For more information, visit mcionehealth.com
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This press release contains forward-looking information and forward-looking statements (together, “forward-looking statements”) within the meaning of applicable securities legislation, which reflect MCI Onehealth’s current expectations regarding future events, including statements relating to: the relationship between the Company and Acorn (including the expected benefits thereof), the impact of the relationship with Acorn on MCI Onehealth’s service offerings, technology roadmap and long-term strategic plan, the scope and timing of integrating Acorn’s services into MCI Onehealth clinics, Acorn’s goals and strategic plan, Acorn’s role in the regenerative and precision medicine industry and the possibility of future collaborations between Acorn and MCI Onehealth. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of words or phrases such as “allows”, “future”, “revolutionizing”, “up to”, “towards”, “aims to”, “just the beginning”, “expanding” or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” occur. Forward-looking statements are based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond MCI Onehealth’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include difficulties or delays integrating Acorn’s services with those of the Company, technologies and services not functioning as expected, third parties not using technologies and services as expected, economic conditions making technologies and services less attractive than anticipated, competitors in the industry, the possibility of a breakdown in the relationship between Acorn and the Company, and other factors discussed under “Risk Factors” in the Company’s annual information form for the year ended December 31, 2020 which is available under the Company’s profile on SEDAR at www.sedar.com. All forward-looking statements made in this press release are made as of the date hereof and MCI Onehealth does not undertake any obligation to update such forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.