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Coala Life signs agreements on extended service for a further 30% of connected patients

MAR

Coala Life announces today that the company has signed renegotiated agreements that include an additional 10 clinics and approximately 1100 connected patients regarding the company’s extended service for Managed RPM in USA. Coala Life announced on December 13, 2022 that the extended service means that the revenue per patient where the service is extended will increase by approximately 50%.

”With these renegotiated agreements, we have now connected approximately 70% of patients to the extended service, which is gratifying. This means we are in line with our plan to have all patients connected to the extended service in Q1”, says Dan Pitulia, CEO of Coala Life Group.

The extended service includes more extensive analysis and reporting. Even including a certain strengthening of the company's qualified workforce, the increase in revenue is expected to lead to increased net margins. The extended service is basically based on the same agreement as before but with a revised and extended price list. The agreements began to be distributed and negotiated with affiliated clinics starting in January and discussions with all customers are underway, the plan is to have this ready within Q1 2023.

About us

Coala-Life Group AB (“Coala Life” or the “Company”) founded in 2015, is a Cloud Based Software as a Service provider, and medical device developer and reseller, listed on Nasdaq First North Growth Market. The Company focuses on B2B solutions for managed Remote Patient Monitoring (“RPM”), offering medical care providers, primarily in the US, with a highly scalable, cost-efficient platform to remotely and virtually manage large volumes of patients suffering from chronic diseases. The company offers care providers a comprehensive solution and lifts the administrative work from the care providers regarding, amongst other things, follow-up, 24/7 monitoring, as well as the reimbursement process from state and private health insurance companies. Patients are monitored long-term in everyday life and typically have diabetes, obesity, and/or cardiovascular disease. 
For more information see www.coalalife.com

For more information, please contact:

Dan Pitulia, CEO Coala Life AB
+44 7849 257 532, dan.pitulia@coalalife.com
Richard Roa, CFO Coala Life AB
+46 70 816 61 45, richard.roa@coalalife.com

Certified Adviser
The company's Certified Adviser is Erik Penser Bank AB.

This information is information that Coala Life is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-03-23 12:00 CET.

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Coala Life signs agreements on extended service for a further 30% of connected patients

Datum 2023-03-23, kl 12:00
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Coala Life signs agreements on extended service for a further 30% of connected patients
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