Multi-Year Contract Brings Total New Orders Received Over Last Five Months to $3.5 Million
MONTREAL, QC, April 25, 2022 /CNW/ – Carebook Technologies Inc. (“Carebook” or the “Company“) (TSXV: CRBK) (OTCPK: CRBKF) (XFRA: PMM1), a leading Canadian provider of innovative digital health solutions today announced a multi-year contract with Air Canada, signed on April 4, 2022, for the inclusion of the Carebook CoreHealth Platform in its Employee Portals.
Air Canada is using Carebook’s CoreHealth total well-being platform to connect their employees to a comprehensive suite of leading health and wellness programs, content, and solutions. CoreHealth’s platform is easy to use and highly configurable giving Air Canada the ability to deliver specific wellness programming to meet the individual needs of their employees. The CoreHealth solution builds upon the current organizational understandings provided by Carebook’s Wellness Checkpoint assessment tool which has been in use with Air Canada since 2017. When coupled together, these two leading solutions offer Air Canada an unparalleled opportunity to curate relevant programming that will help improve the health and wellness of all Air Canada employees.
“At Air Canada, the health and wellness of our employees is an integral component to our cornerstone value of Safety First, Always. Our employees want to be the best they can be, and we support their wellness journey through an employee portal dedicated to practical tools and resources such as health education covering a range of themes including physical, mental, financial health and more. We are proud to elevate our employee wellness portal to the next level with the CoreHealth platform which will enhance the delivery of health and wellness tools for our global, mobile workforce,” said Dr. Jim Chung, Chief Medical Officer at Air Canada.
“This contract with Air Canada, one of this country’s most important and well-respected corporations, represents a major turning point for Carebook,” commented Michael Peters, Carebook CEO. “Our comprehensive offering of digital health solutions is the product of the successful integration of Wellness Checkpoint and CoreHealth, both acquired in 2021. And the expansion of our partnership with Air Canada further validates that our comprehensive suite of assessment and wellness solutions are well positioned to serve Canada’s top employers. We are now targeting the employer market with a combined platform that offers a total “one-stop” solution for employers seeking to improve the lives of their employees and develop comprehensive human resource experiences. We are thrilled that Air Canada will be one of the first world-class employers to benefit from the combined power of our integrated assessment and wellness solutions.”
Continued Peters, “Air Canada’s implementation of the Carebook solution will provide us with an international showcase for our solutions capability. While the Air Canada contract is not material on its own, it does cap a record five months for our company with regards to new orders received. We have booked $3.5 million in new sales ranging from two to five years in length since November 1, 2021, representing ARR of $800K. These contracts, from a diverse base of clients located in the U.S. and Canada, provide confirmation of the success of our strategy and renewed focus on the fast-growing employer vertical.”
About Carebook Technologies
Carebook’s digital health platform empowers its clients and more than 3.5 million members to take control of their health journey. During 2021, the Company completed the acquisitions of InfoTech Inc., a global leader in health and productivity risk management, and CoreHealth Technologies Inc., owner of an industry-leading wellness platform. In combination, these companies create an end-to-end digital health platform that includes both assessment tools and the technology to deliver complementary solutions. Carebook’s shares trade on the TSXV under the symbol “CRBK,” on the OTC Markets under the symbol “CRBKF,” and are listed on the Open Market of the Frankfurt Stock Exchange under the symbol “PMM1.”