NEUPATH HEALTH DELIVERS RECORD QUARTERLY REVENUES AND QUARTER-OVER-QUARTER ADJUSTED EBITDA GROWTH

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TORONTO, ONTARIONeuPath Health Inc. (TSXV: NPTH), (“NeuPath” or the “Company”), owner and operator of a network of clinics providing cutting-edge treatments for chronic pain, announced its financial and operating results for the three and six months ended June 30, 2022. All figures are in Canadian dollars unless otherwise stated.

Financial and operational highlights

Record quarterly revenue of $15.9 million and record quarterly non-clinical revenue of $1.0 million for the three months ended June 30, 2022compared to $15.9 million and $0.7 million for the comparative period of three months; For the six months ended June 30, 2022revenue increased by 4% to $31.3 million compared to $30.1 million for the comparative period of six months; Adjusted EBITDA was $0.8 million and $1.1 million for the three and six months ended June 30, 2022 compared to $0.8 million and $1.8 million for the comparative periods of three and six months; Adjusted EBITDA for the three months ended June 30, 2022 increased by $0.5 million or 140% quarter to quarter; Opening of two new fluoroscopy rooms in July 2022with two additional fluoroscopy rooms scheduled to open in the fall of 2022, allowing the Company to better serve our patients and expand our service offerings.

Completed a strategic review that identified several opportunities for business improvements and began implementing an accelerated growth strategy, which included several senior management changes.

“NeuPath has made great progress towards building a platform for future growth with the recent opening of two new fluoroscopy suites and the first patient visits to our new HealthPointe At CAO clinic in red deer,’ declared Diane Carmichael, executive chairman of NeuPath. “We expect further business improvements as our recent infrastructure investments allow us to better serve and reach more patients. Additionally, we continue to evaluate new opportunities to expand our service offerings and expand our footprint across Canada.’

Contact:

Telephone: 1 905 858 1368

Toll free: 1 800 265 3429

Email: [email protected]

(C) 2022 electronic news edition, source ENP Newswire

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