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Carespan Contract for Disability Assessments for U.S. Veterans

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  • CSPN.V
  • The expected number of assessments pursuant to the contract is approximately 20,000 annually at a minimum of US$200 per assessment.

  • With nearly 80 clinicians, CareSpan is starting to attract the attention of large organizations requiring health services as its "Clinic-in-the-Cloud" led provider network aims to help address the primary care shortage in the US.

VANCOUVER, BC, December 7, 2021 /CNW/ - CareSpan Health, Inc. (TSXV: CSPN) ("Company" or "CareSpan"), the provider of the "Clinic-in-the-Cloud" platform addressing the primary care shortage and improving the delivery of chronic, urgent and mental health care is pleased to announce that American Advanced Practice Network ("American-APN"), a CareSpan professional corporation, has been awarded a contract to conduct disability assessments for veterans in multiple states and locations across the United States (the "Contract"). American-APN, has approximately 80 practitioners in the United States using the CareSpan "Clinic-in-the-Cloud"™ solution to deliver primary, chronic, and urgent care to underserved geographies in the United States.

As of November 2021, the Company has begun to conduct such disability assessments pursuant to the Contract, and the first group of American-APN nurse practitioners ("NPs") have been approved to conduct patient examinations. The NPs will deliver high-quality, empathetic, and efficient examinations as they help reduce the large volume of exams. Pursuant to the Contract, the Company expects to conduct approximately 20,000 assessments annually, billing a minimum of US$200 per assessment.

"This Contract is an example of how CareSpan enables Nurse Practitioners to address care delivery gaps across the United States," noted Melissa Magstadt, CEO of American-APN. "Initiatives like this allow NPs to grow their practices without sacrificing the quality of care and help CareSpan American-APN grow its NP network by attracting new NPs to join."

Rembert de Villa, CareSpan's CEO commented, "With nearly 80 clinicians in our network, this contract demonstrates how CareSpan has achieved sufficient reach to start attracting the attention of organizations such as government agencies, insurance companies, and other payors requiring healthcare services for their members. For this veterans' medical assessments contract, CareSpan expects about a third of its current NPs in the network to be approved and trained to support this engagement as examination volumes grow over the next several months in our assigned locations."

About CareSpan Health

CareSpan is a healthcare technology company that has developed and deployed a unique, proprietary integrated digital care platform, the CareSpan Clinic-in-the Cloud™, that creates unfettered access to care for the underserved. With a patient-centric approach focused on improving health outcomes, CareSpan uses sophisticated digital tools and capabilities to improve patient outcomes in primary care, chronic care, urgent care, and mental health.

In addition to the integrated digital care platform, CareSpan has built and deployed a business support infrastructure for its professional network partners, American-Advanced Practice Network and American-MedPsych Network. American-Advanced Practice Network harnesses the clinical capabilities of Nurse Practitioners to address the shortage in primary and chronic care in the country. American-MedPsych brings together providers to tackle shortages in mental health, as well as primary care.

Clinic-in-the-Cloud is a trademark of CareSpan USA Inc., a subsidiary of CareSpan Health, Inc.

For more information, visit: www.carespanhealth.com

Forward-Looking Statements Disclaimer

This news contains "forward-looking statements" within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements") which reflect the current expectations of management of the company's future growth, results of operations, performance, and business prospects and opportunities, including the statements made above with respect to: (i) CareSpan obtaining future opportunities of the same nature as the Contract; (ii) the number of NPs obtaining the credentials and training necessary to support the engagement described herein; (iii) the quality and delivery of services by the NPs; and (iv) the anticipated revenues generated by the engagement described herein. Forward-looking statements are frequently, but not always, identified by words such as "may", "would", "could", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential for", "intend" and similar expressions or the negative of these terms or other comparable terminology, although these words may not be present in all forward-looking statements.

Should assumptions or uncertainties underlying the forward-looking statements prove incorrect, actual results, performance, or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. Some of these risk factors include, but are not limited to, general market and economic risk; any necessary regulatory approvals required (if applicable) for the Company to deliver the services under the Contract; the ability of the Company's management to execute its strategy; and the ability of all parties to the Contract to fulfill their obligations under the Contract. In addition, investors are encouraged to review the risk factors set forth in the Filing Statement dated November 15, 2021. These factors should be considered carefully, and prospective investors should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in the news release are based upon what management currently believes to be reasonable assumptions, the company cannot assure prospective investors that actual results, performance or achievements will be consistent with these forward-looking statements. Except as required by law, the company expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities.

The TSX-V and its Regulation Services Provider have not approved the contents of, nor taken responsibility for the adequacy or accuracy of, this press release.

SOURCE CareSpan Health, Inc.

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View original content: http://www.newswire.ca/en/releases/archive/December2021/07/c0444.html

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