Marpai, Inc 8-K, filed Nov 16, 2021
Marpai, Inc. (MRAI)
About this 8-K
Marpai, Inc filed this 8-K on November 16, 2021.
Items reported
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 16, 2021
MARPAI, INC.
(Exact name of registrant as specified in its charter)
001-40904
(Commission File Number)
| Delaware | 86-1916231 | |
| (State or other jurisdiction of incorporation) |
(I.R.S. Employer Identification No.) |
5701 East Hillsborough Avenue, Suite 1417, Tampa, Florida 33610
(Address of principal executive offices, with zip code)
(646) 303-3483
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Ticker symbol(s) | Name of each exchange on which registered | ||
| Class A Common Stock, par value $0.0001 per share | MRAI | The NASDAQ Capital Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company x
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨ ¨
| Item 8.01 | Other Events. |
On November 16, 2021, the Company issued a press release announcing the launch of its Gaps in Care service helping health plan members stay current with annual exams, vaccines, and health screenings. The effort is an expansion of Marpai’s premium, AI-powered services and automatically sends personalized texts and emails to remind members when it is time to make an appointment. A copy of the press release is furnished with this Current Report as Exhibit 99.1 hereto and is incorporated herein by reference
The information in this Item 8.01 of this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liability under such section, nor shall it be deemed incorporated by reference in any of our filings under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
| Exhibit No. | Description | |
| 99.1 | Press Release dated November 16, 2021 |
-2-
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| MARPAI, INC. | ||
| Date: November 16, 2021 | By: | /s/ Edmundo Gonzalez |
| Name: Edmundo Gonzalez | ||
| Title: Chief Financial Officer | ||
Exhibit 99.1
For Immediate Release
Marpai Announces New Service to Fill Gaps in Care to Promote Member Health and Drive Down Healthcare Costs
Tampa, Fla., Nov. 16, 2021 — Marpai, Inc., (“Marpai”) (Nasdaq: MRAI), a deep learning technology company transforming third-party administration in the healthcare self-funded market, announced the launch of its Gaps in Care service helping health plan members stay current with annual exams, vaccines, and health screenings. The effort is an expansion of Marpai’s premium, AI-powered services and automatically sends personalized texts and emails to remind members when it is time to make an appointment.
Marpai is an alternative to traditional TPAs (third party administrators) that promotes proactive health with AI-powered services, including the use of deep learning models to help predict near-term health risks in order to prevent and reduce costly chronic illness and procedures. The new Gaps in Care service aims to help members maintain annual health visits to stay on the best health journey and enable early detection of developing issues. Marpai is addressing an industry representing over $1 trillion in health claims, $20 billion in administrative fees, and 95 million Americans.
Early intervention can prevent and reduce chronic illness and costly health events. For example, according to the American Cancer Society, when breast cancer is detected early and is in the localized stage, the 5-year relative survival rate is 99%, yet the CDC reported that only 66% of women over 40 are getting annual mammograms. Colorectal cancer is the third most common form of cancer among men and women, yet only 67.4% of adults aged 50 to 75 years were up-to-date with annual screenings, according to the CDC.
“Our goal in offering this new service is to empower members to take charge of their health by providing the friendly reminders they need to take action on these important visits. We believe that when we guide members to proactive care, it ultimately creates healthier lives across diverse populations and reduces costs in the long run,” said Lisa Willet, Vice President of Population Health and Member Engagement at Marpai. Ronnie Brown, Marpai COO, adds, “Maintaining annual checkups can help people stay on top of their health and ahead of potential adverse health events, which could save money and avert real suffering.”
“We are aggressively using advanced technology to empower healthier lives and reduce costs. We believe that helping members fill these gaps in care is a big step forward in staying on the best health journey,” said Edmundo Gonzalez, CEO of Marpai.
For more information, visit www.marpaihealth.com.
About Marpai, Inc.
Marpai, Inc. (“Marpai”) is an AI-driven health technology company using deep learning to transform third-party administration (TPA) in the self-funded market to radically reduce costs, improve lives and simplify everything. Marpai uses proprietary algorithms to predict near-term health needs and intervene to prevent illness by guiding health plan members to appropriate top-quality providers. Marpai’s SMART technology platform works to eliminate cost excesses in claims processing, reduce the cost of claims, and lower stop-loss premiums with future health cost predictions. Marpai’s deep learning system makes it easy for members to take better care of their health and stay ahead of emerging needs. Operating nationwide in serving over 65 self-funded companies and 50,000 members, Marpai provides access to world-class provider networks including Aetna and Cigna, and partners with brokers and consultants across the U.S. Marpai does not provide medical prognosis or healthcare, and is not engaged in the practice of medicine. For more information visit www.marpaihealth.com.
Forward-looking Statements
This press release contains forward-looking statements, as that term is defined in the Private Litigation Reform Act of 1995, that involve significant risks and uncertainties, including statements regarding anticipated fourth-quarter results. Forward-looking statements can be identified through the use of words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “may,” “can,” “could”, “will”, “potential”, “should,” “goal” and variations of these words or similar expressions. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect Marpai’s current expectations and speak only as of the date of this release. Actual results may differ materially from Marpai’s current expectations depending upon a number of factors. These factors include, among others, adverse changes in general economic and market conditions, competitive factors including but not limited to pricing pressures and new product introductions, uncertainty of customer acceptance of new product offerings and market changes, risks associated with managing the growth of the business. Except as required by law, Marpai does not undertake any responsibility to revise or update any forward-looking statements whether as a result of new information, future events or otherwise.
More detailed information about Marpai and the risk factors that may affect the realization of forward-looking statements is set forth in Marpai’s filings with the Securities and Exchange Commission. Investors and security holders are urged to read these documents free of charge on the SEC's web site at http://www.sec.gov.
Media contact:
Erika Beerbower for Marpai Health
erika@lightspeedpr.com
407-758-2727
Investor Relations contact:
Dave Gentry
RedChip Companies Inc.
1-800-RED-CHIP (733-2447)
Or 407-491-4498
Dave@redchip.com
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