Coala Life reports monthly key figures for the company’s main market, USA

Coala Life begins monthly reporting of Key Performance Indicators (KPI’s) for the company’s main market, USA. The KPI’s that will be reported monthly are; number of patients that the company monitors in USA at the end of each month, and estimated recurring revenue in USD based on the last month’s revenue, measured at an annual rate.

Coala Life’s reporting of these KPI’s will take place on the third week of each month. The number of patients reported is as of the last day of the previous month rounded to the nearest hundred. Annual revenue will be reported based on the previous month´s estimated revenue rounded to the nearest hundred thousand USD.

In early 2022, Coala Life launched a new service in USA within the area of Remote Patient Monitoring (RPM) for long-term- and remote monitoring of chronically ill patients. The service can be compared to a SaaS model where Coala Life signs operating and monitoring agreements with US healthcare providers and is remunerated by insurance companies directly to the provider through the new regulations for RPM. Coala Life has a growing number of agreements with American healthcare providers to provide and conduct care-related services for patients remotely. The service is marketed and operated in USA under the brand name Qorum Partners. The acquisition of Vitrics Management Group, completed in the summer of 2022 has helped to accelerate the pace in this segment.

KPI’s September 2022:

  • Patients in RPM as of September 30, 2022: 2,600
  • Annual revenue rate as of September 30, 2022: 2.7 MUSD

“We see a very good development in USA, both for Qorum Partners and the recently acquired Vitrics Management Group. We have chosen to monthly publish information about the sales trend in the US as we receive questions about this from our shareholders. The exact figures will be published in the company’s quarterly reports. However, it is important for Coala Life to show that at this pace we are well in line with our financial goal of reaching a turnover of SEK 250 million in 2024”, says Dan Pitulia, CEO of Coala-Life Group AB.

The figures in this press release are preliminary and unaudited. The full interim report for the third quarter will be published on November 16, 2022.