SINGAPORE, May 06, 2024 (GLOBE NEWSWIRE) -- Mobile-health Network Solutions (Nasdaq: MNDR) (“MaNaDr” or “the Company”), a leading Asia-Pacific telehealth provider, today addresses the recent market fluctuations in its share price. The full message from the Co-Founders, Dr Siaw Tung Yeng and Dr Rachel Teoh Pui Pui is as follows:

Dear Valued Shareholders, Investors, Employees, and Partners,

We are writing to you today to address the recent volatility in our share price. While we understand the concern it may cause, we want to assure you that we remain committed to our long-term growth strategy, and we are experiencing significant positive developments.

Expansion and Recognition

Mobile-health Network Solutions is currently in the process of expanding our operations to Indonesia, a key market in Southeast Asia, offering substantial growth potential. This expansion aligns with our strategic vision and will further solidify our presence in the region. We were recently recognized by the Financial Times as the #41 fastest growing company in the Asia-Pacific region (APAC). This prestigious accolade is a testament to the hard work and dedication of our team and reflects the strong trajectory of our business.

New Ventures and Continued Strategy

We announced the launch of ManaPharma Pharmacy recently, representing a venture into the retail pharmacy space. This diversification strengthens our position in the healthcare sector and presents promising opportunities for future growth.

As outlined in our 424B(4) prospectus, our management remains focused on executing our established strategies and priorities. We are confident that this continued focus will drive long-term value for all stakeholders.

Commitment and Financial Outlook

Our management and our major shareholders are committed to the long-term success of the Company. We have a moratorium in place and have not sold or pledged any shares for loans since the IPO.

We are optimistic about our financial performance. As announced recently, our revenue for the first half of 2024 is projected to double compared to the same period in 2023. This significant growth underscores the effectiveness of our strategic initiatives.

Market Volatility and Transparency

Considering the recent share price fluctuations, we have reached out to Nasdaq to request discussions regarding the trading activities.

We are committed to maintaining open communication with all stakeholders. We will continue to provide regular updates on our progress and performance through official channels.

We understand that market conditions can be unpredictable, however, we remain confident in the fundamentals of our business and believe that MNDR is well positioned for continued success. We appreciate your continued support and trust.

Sincerely,
Co-Founder, Dr Siaw Tung Yeng, PBM, Senior Consultant Family Physician
Co-Founder, Dr Rachel Teoh Pui Pui, PBM, Family Physician

About Mobile-health Network Solutions

Ranked #41 in Financial Times 2024 listing of 500 High-growth Asia-Pacific Companies, we are the first telehealth provider from the Asia-Pacific region to be listed in the US. Through our MaNaDr platform, we offer personalized and reliable medical attention to users worldwide. Our platform allows our community of healthcare providers to have a broader reach to users through virtual clinics without any start-up costs and the ability to connect to a global network of peer-to-peer support groups and partners. Our range of seamless and hassle-free telehealth solutions includes teleconsultation services, prescription fulfillment and other personalized services such as weight management programs and gender-specific care. For more information, please visit https://investors.manadr.com/.

FORWARD-LOOKING STATEMENTS

Certain statements contained in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s ability to execute our strategies, manage growth and maintain our corporate culture; the Company’s future business development, financial conditions and results of operations; expectations regarding demand for and market acceptance of our products and services; changes in technology; economic conditions; the growth of the telehealth solutions industry in Singapore and the other international markets the Company plans to serve; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in Singapore and the international markets the Company plans to serve and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Any forward-looking statements contained in this press release speak only as of the date hereof, and Mobile-health Network Solutions specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.

For media inquiries, please contact:

Mobile-health Network Solutions Investor Relations Contact:
2 Venture Drive, #07-06/07 Vision Exchange
Singapore 608526
(+65) 6222 5223
Email: investors@manadr.com

Investor Relations Inquiries:
Skyline Corporate Communications Group, LLC
Scott Powell, President
1177 Avenue of the Americas, 5th Floor
New York, New York 10036
Office: (646) 893-5835
Email: info@skylineccg.com