Contakt World Technologies Corp. (CSE: HELP) (the “Company” or “Contakt World”) is pleased to announce that trading in its Class A Subordinate Voting Shares (“Shares”) will commence on July 19, 2021 on the Canadian Securities Exchange (the “CSE”) under ticker symbol “HELP”. Trading was previously paused on October 30, 2020, pending completion of its “fundamental change” involving Tracker Ventures Corp., (CSE: TKR) (OTC: TLOOF) (FSE: B2I) which took place on July 12, 2021.
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In anticipation of trading under the new ticker symbol, Contakt World’s founder and Chief Visionary Officer Justin Beck is pleased to provide an update to shareholders and prospective shareholders of material progress by the Company since October 30, 2020, and the long-term potential for the Company in public and private markets.
PANDEMIC LESSONS IN PUBLIC HEALTH & BUSINESS
While the pandemic has slowed in the United States since Contakt World first embarked on this journey to save lives and improve clinical outcomes via SaaS, long-term business prospects for Contakt World have crystallized. According to CMS, the US spent $3.81 trillion on healthcare in total in 2019 reflecting a full 17.7% of GDP, which is expected to grow to $6.19 trillion by 2028.1
The pandemic was ‘the great revealer’ of inequities in our healthcare system; COVID-19 highlighted an utter lack of global preparation for humanitarian crises. An additional 200,000 businesses over baseline in the US alone were shuttered during the height of the pandemic.2 COVID-19 variants continue to emerge as global threats. We’re candidly still caught in a global pandemic that has highlighted our societal failures to prepare within the global healthcare and economic system.
Death and economic devastation caused so far by COVID-19 proves that across healthcare, business, and government, we did not have the systems in place to quickly and efficiently respond to an emergency. Many deaths were preventable. More efficient collection and use of data in public and private sectors could unlock cost savings, material reduction in liabilities, and/or marked improvement of care and economies.
In an age where you can do almost anything from your phone, many health agencies still unfathomably receive faxes of disease cases that pile up on their floor. It’s unfathomable. While social media connects most everyone everywhere, phone calls from disease detectives are often ignored. As the US spends almost four trillion dollars on healthcare, public health agencies still don’t have sufficient technology or capacity to maintain the health of their residents, according to survey data from Contakt World obtained via partnership with National Association of County and City Health Officials (“NACCHO”) – and health agencies lack integration with local health providers, long-term care facilities, schools, and employers. As the US modernizes its public health data infrastructure with a goal of ongoing preparedness, this field is ripe for innovation.
LONG-TERM MARKET OPPORTUNITIES EMERGE
What we’ve learned at Contakt World since October 2020: the solutions we originally envisioned are desperately needed by health agencies, but we’ve been pleasantly surprised that use cases in private markets extend far beyond that. We’ve also learned that COVID-19 is merely a (dire) use case for health agencies. Not only do they struggle with finding and treating all disease, it is also seen as a foregone conclusion that more pandemics will occur eventually, even as COVID-19 becomes endemic (like the flu). Our award-winning software, Smart Health RM, and our capacity to reach people across all major forms of media via Engagency, positions us as an emerging ‘phygital’ company – blending the physical and digital world with SaaS.
In healthcare and public health, a cumulative $271B USD total addressable market opportunity globally by 2027 exists according to third-party estimates3 for case management/contact tracing technologies, COVID-19 diagnostics, employee wellness for employers, and healthcare advertising. The collection of data, communications to and from Smart Health RM amidst people and places, integration with diverse systems, and analytics of data provide an ocean of opportunity. With public B2B SaaS valuations ending 2020 with a median of 16.6X annual recurring revenue (ARR)4, building a SaaS business for Contakt World within a $271B USD3 long-term market gives us strong prospects to obtain customers, grow through health agencies and select private verticals, and acquire businesses that are accretive.
To demonstrate our progress toward this end, we’re pleased to provide the following updates, and appreciate the confidence from shareholders who have thus far supported us – and will inevitably join us for this worthwhile ride:
Smart Health RM is ready for public and private markets. Our goal is to deploy through health agencies via our relationship with NACCHO where we can develop revenue and prove that our approach improves health in populations. Deploying to health agencies that serve entire local populations and employers could give us broader strategic access to the nearly four trillion-dollar US healthcare market while saving lives.
Voice-of-customer discussions are underway with NACCHO member health agencies. As previously announced, the 33 winners of the Innovative Practice Award via NACCHO allow us to collaborate and co-create our long-term solutions through health officials who have proven that the “status quo” isn’t good enough – and that sustainable change in health equity requires innovation and risk. From Contakt World’s perspective, you can’t fix a broken healthcare system that led to hundreds of thousands of deaths in the US alone without innovation, and it won’t happen overnight. In this sense, the Company seeks to create a category of sustainable “phygital” tools for public health and healthcare.
Company has entered revenue phase with three customer agreements. Contakt World has signed agreements with Satcher Health Leadership Institute (“SHLI”), Black Health Equity Alliance (“BHEA”), and a biotech and pharma consulting firm – all of which could become larger commercial opportunities or channels as the Company innovates the way advertising connects with our software. Under Engagency, Contakt World’s in-house ad agency for public health and healthcare designed to increase the use of our SaaS solutions, we are designing and deploying strategy, creative assets, and media for improving vaccination in hard-to-reach audiences on behalf of SHLI and BHEA, which we intend to leverage into larger campaigns and deployments of Engagency and our software. SHLI is expected to conduct health equity research in all 50 states and select jurisdictions therein that were hit especially hard by COVID-19, potentially opening doors for Contakt World.
Private opportunities are being defined. Other than markets we’ve defined in the US, our team is in preliminary conversations with several HMOs in Brazil that serve millions of people. Our approach to managing population health via health agencies in the US – helping them reduce risk, improve outcomes, and increase efficiency – applies to HMOs globally, and we will update the market should these opportunities advance.
Recognition through awards shows we’re on the right track. Two honorable mentions by Fast Company as “World Changing Idea” in software and COVID-19 categories, two Stevie Awards in North American Business, two AVA Awards and a Webby nomination for our podcast co-produced with iHeartMedia Contakt World: Truth in Health, and a BIG Innovation Award so far in 2021 indicate that the world is listening to us. Our evolving relationship with NACCHO and the 3,124 county and city health departments, including our recent sponsorship of the inaugural Innovative Practice Award to 33 health agencies announced May 27, 2021, provides us with a credible, ongoing channel to deploy our solutions commercially.
“We’re just getting started here at Contakt World – thank you again for your confidence, patience, and support. I want to remind you that we are addressing systemic problems that have existed for decades, and that we can’t fix those problems overnight. Completing this go-public transaction and commencing trading Shares under (CSE: HELP) will let us advance our commercial plans in earnest,” Contakt World founder and Chief Visionary Officer Justin Beck concluded. “We couldn’t do this without your support as a shareholder.”
About Contakt World
Contakt World is a technology company developing and delivering SaaS solutions for the public and private sectors. The company integrates data collection and management, communications, advertising, and IoT devices – providing customers with a scalable ecosystem that makes sense of people, place, time, and space for the emerging “phygital” (blending physical and digital) world. Contakt World is committed to improving health equity and disease management while solving sector-specific business challenges.
Contakt World Contact
Interim CEO and Director
For more information, please visit the Company’s website at www.contakt.world.
Certain information set forth in this press release contains statements that reflect “forward-looking information”, as such term is defined under Canadian securities laws (“forward-looking statements”). These forward-looking statements are often identified by words such as “intends”, “anticipates”, “expects”, “believes”, “plans”, “likely” or similar words. Specifically, this news release includes forward-looking statements regarding the healthcare market and trends therein, the Company’s sales efforts to date and execution of its three customer agreements, the Company’s upcoming listing on the CSE and the Company’s future business plans. The forward-looking statements reflect the Contakt World’s management’s expectations, estimates, or projections concerning future results or events, based on the opinions, assumptions and estimates considered reasonable by management at the date the statements are made. Although Contakt World believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements involve risks and uncertainties and undue reliance should not be placed on forward-looking statements, as unknown or unpredictable factors could cause actual results to be materially different from those reflected in the forward-looking statements. The forward-looking statements may also be affected by risks and uncertainties in the business of Contakt World, including those described in the Company’s public filings available on www.SEDAR.com. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
The Canadian Securities Exchange (CSE) has not reviewed, approved or disapproved the content of this news release.
1 Official estimates published by Centers for Medicare and Medicaid Services (CMS.gov)
3 The following third-party sources were used to calculate a cumulative $271B potential TAM.
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