Leveljump Healthcare CEO Mitch Geisler sat down to share how his company is part of this movement by improving diagnostic imaging in Canada through teleradiology solutions.
In recent years, the space of telehealth and digitized medical services has been booming. As the world switches to more integrated online solutions to navigate healthcare, telehealth companies are helping bring innovative solutions to address the limitations of traditional models of medical care.
Leveljump Healthcare (TSXV:JUMP) Chief Executive Officer Mitch Geisler sat down to share how his company is part of this movement by improving diagnostic imaging in Canada through teleradiology solutions.
As a telehealth company, Leveljump Healthcare focuses on one of the core pillars of healthcare — diagnostic imaging. On average, nearly 30,000 patients require a CT scan every month in Ontario. Without this preliminary step, many emergency services and vital care become backed up or delayed for those who urgently need it.
Leveljump is working to improve this outcome through its wholly-owned subsidiary Canadian Teleradiology Services (CTS). The two companies are hired by hospitals to cover their ER rooms.
When it comes to medical emergencies, having accessible health services can make the difference between life and death. Geisler notes that its CTS could be a long-term solution to “assist the communities and fill that void that otherwise would exist” in radiology and diagnostic imaging supply.
With the tools, professional support and round-the-clock care, Leveljump Healthcare could help bring even the most rural communities to the level of healthcare access that urban centers like Toronto or Vancouver can support.
With over 12 years in operation and 16 years in the healthcare industry, Geisler discussed intent on rolling out Leveljump Healthcare CTS and telehealth services into a national brand. This rollout would be an exciting step in the company’s evolution and would help the company branch out from emergency room service and into acquisitions, private clinics and other areas within the diagnostic imaging space.
Currently, the company is projected to control approximately six percent of the hospital market in Ontario. Being a leader in this radiology space, Geisler has a positive outlook for the growth of Leveljump. With a robust business model and focused efforts on building trusted doctor to doctor relationships, these expansion goals could increase significantly in the near future.
The versatility and scalability that comes with offering remote teleradiology may even translate to future global expansion, a goal that the company could potentially achieve in the coming years.
Geisler also discussed working on unique opportunities in the market of technology as it relates to diagnostic imaging. By 2027, the global medical imaging market is expected to reach US$43.3 billion. Looking into radiology hardware and software could provide the company with first-mover advantages and a method of raising capital without losing focus on its core mission of delivering remote radiology services.
Leveljump is primed to see up to 40 percent of growth by acquiring new CTS contracts, cash flow generation, and expanding its clinical client base by the end of the year. Although the company currently has a smaller gross margin, the consistency in business operations predicts positive trends.
Many have labeled healthcare a recession-proof industry. Especially as the world deals with COVID-19, this shift to more remote and digital healthcare solutions is anticipated to spike in demand and puts Leveljump in a strategic position to supply it. “Just looking at our core competence and where we want to go, we see a lot of opportunity there for us,” said Geisler.
With plans to increase CTS partnerships and generate EBIT and shareholder wealth, Leveljump Healthcare is on the path to transforming the delivery of healthcare and teleradiology services on a massive scale.
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