- Certive Solutions (CSE:CBP) has provided an update on company operations during the ongoing COVID-19 health crisis
- The company’s Omega Division has recently executed a new contract with a two-hospital system in Virginia
- Certive’s US subsidiary, Certive Health, has received a COVID-19 relief loan from the Paycheck Protection Program
- With staff working remotely, and additional business opportunities, the company expects to weather the uncertain conditions
- Certive Solutions (CBP) has not changed since April 15 and is trading for 2.5 cents per share
Certive Solutions (CSE:CBP) has provided an update on company operations during the ongoing COVID-19 health crisis.
The pandemic has had a considerable impact on people, companies, industries, and economies. In spite of this, Certive appears to be carrying on, with only a few noticeable changes to the norm.
Recently, the company’s Omega Division executed a new contract with a two-hospital system in Virginia, USA. The contract was to provide Lost Charge Recovery services. Omega is currently assessing and on-boarding this new client.
Certive’s staff in Florida are currently working from home, in compliance with mandated shelter-in-place orders. Thus far, this remote operating model has not negatively impacted operational efficiencies. As a matter of fact, it has resulted in some positive side effects. With everyone working from home, the company’s rent and associated occupancy expenses have reduced.
Despite the small victories, Certive’s US subsidiary, Certive Health, has sought out help. On April 3, 2020, the company applied for a C$368,000 loan from the Small Business Administration’s Paycheck Program. The program is part of the US government’s efforts to help small businesses through COVID-19’s economic impacts.
On April 22, 2020, the subsidiary received the requested funds, which it will use to pay qualifying expenses. These include the company’s payroll and occupancy costs for the next 60 days.
Overall, Certive Solutions is confident about its ability to weather the COVID-19 storm.
With hospitals worldwide under immense stress, Certive’s services in the healthcare industry may see a spike in demand. The company believes that the long-term needs of hospitals to secure every possible revenue source will make them invaluable during this time.
Certive Solutions (CBP) has not changed since April 15 and is trading for 2.5 cents per share.
