Maitri Health Technologies Announces Name Change to Bloom Health Partners

Vancouver, British Columbia--(Newsfile Corp. - October 27, 2021) - Maitri Health Technologies Corp. (CSE: MTEC) (OTC Pink: MHTCF) (FSE: D84) (the "Company"), a leading provider of health care technology, is pleased to announce that it will undertake a corporate rebranding under the name Bloom Health Partners Inc. In connection with the rebranding, the Company intends to change the ticker symbol for its common shares to "BLMH" on the Canadian Securities Exchange. The change will allow the Company to offer a single consistent brand to clients across the health care technology, laboratory science and occupational health fields, and to better articulate the full range of services being offered. The Company will issue a further news release once the effective date for the change has been confirmed.

"The pandemic continues to be an active part of our client's concerns. As a single brand, Bloom Health Partners will represent a unified team that will partner with clients to deliver complete, end-to-end health solutions, including technology, materials and best in class lab capabililties to prevent shutdowns. As we evolve beyond the pandemic, we'll be well positioned to define the category of 'Occupational Health-Tech' that will keep client's organizations running in the years to come with data-driven, healthier workplaces," said Andrew Morton, CEO of the Company.

Acquisition of Round Hill Health Partners LLC

The Company recently acquired (the "Acquisition") the business of Round Hill Health Partners LLC d/b/a Bloom Health ("Round Hill") on July 15, 2021. Round Hill is a provider of mobile lab testing, mail-in kit testing, point of care rapid testing and advisory dashboards for occupational health and safety. The terms of the acquisition were announced by the Company upon the entering into a definitive agreement with Round Hill and are available in the news release issued by the Company on April 27, 2021. This Acquisition represents an opportunity for the Company to market its technology solutions to legacy Round Hill clients, while also enabling the combined entities to sell integrated solutions that include a techology platform, supplies and clinical services. The Acquisition further positions the Company as a next generation occupational health provider that encompasses technology and best in class clinical services.

In determining the valuation of the Acquisition and negotiating the terms, the Company considered a number of factors, including the potential integration of technology developed by Round Hill within the Company's software platform, near term revenue of Round Hill, and the strategic integration and growth opportunities resulting from the existing customer base of Round Hill.

A business acquisition report (BAR) was filed by the Company for the Acquisition and is available under the profile for the Company on SEDAR (www.sedar.com).

Corporate Update

The Company is currently expanding operations in the United States and Canada with client announcements planned in the coming weeks. Most recently, the Company expanded it's operations team to meet growing demand for services among U.S. based clients for technology solutions and lab testing services.

Board of Directors and Management

The board of directors and management of the Company is made up of an experienced team of professionals set to execute the next phase of growth.

Senior Management Team:

Andrew Morton, Chief Executive Officer and Director: Mr. Morton is a seasoned global technology executive with a track record of successfully building and running innovative companies. Mr. Morton was SVP Global Sales for Zodiac Interactive, a private equity held software company focused on advanced software for Tier 1 Cable and Telecom providers. He headed up Broadband TV for Entone where he launched successful operations on multiple continents. Entone was acquired by Amino Communications where he served for several years post transaction on the senior executive team. Earlier in his career, Mr. Morton co-launched global operations for Comtrend Corporation, a leader in telecom hardware and software.

Andrew McCann, Chief Technology Officer: Mr. McCann was a co-founder of DeviantArt, one of the first social media networks, and served as CTO until the company was acquired by Wix.com Ltd. During his tenure as CTO, DeviantArt was a Hollywood-based online platform with over 40-million users and the world's largest catalog of user created online images. At it's peak, DeviantArt handled traffic of over two billion page views per month, requiring incredibly sophisticated data management and development.

Marlis Yassin, Chief Financial Officer and Corporate Secretary: Ms. Yassin is a CPA, CA with more than 15 years experience working with publicly listed companies. She has held finance management positions at various public companies, including an international industrial products company and mid-tier mining companies. Ms. Yassin gained extensive experience through her client engagements at Deloitte providing reporting, advisory and assurance services to publicly traded companies, primarily in the natural resources sector.

Abbas Khan, Chief Marketing Officer: Mr. Khan's experience includes serving as Marketing Manager for Life Biosciences and Commercialization Director for the cutting-edge health tech company CloudMex, where he led the rebrand of their communication strategy and managed their partnership and product development with Anthem Health. His branding and marketing background also includes strategic marketing roles at Sterling-Rice Group and PepsiCo and serving as a founder for the Round Hill business.

Board of Directors:

Sav DiPasquale, Board Chair: Mr. DiPasquale is a senior executive with over 30 years of experience in the pharmaceutical, biotechnology and transportation industries, and he is currently President of the Canadian Pharmaceutical Distribution Network ("CPDN"). At CPDN, Previously Mr. DiPasquale spent nearly 17 years at Glaxo Smith Kline in various senior positions, including VP Business Development and CIO.

Jessica Federer, Director: Ms. Federer is a venture partner with Boston Milliennia Partners, an advisor and investor for health and technology companies, and is on the United Nations m-Powering Development Advisory Board for the Agency for Information and Communications Technology (ITU). She is the founder of Innovayte. Federer was previously Chief Digital Officer at Bayer A.G., leading the digital transformation for the global life sciences leader across consumer health, pharmaceuticals, animal health, and agriculture.

Dr. Nimisha Kalia, Director: Dr. Kalia is currently Chief Medical Officer at GE Corporate. She is board-certified in Internal Medicine, Occupational Medicine, and Public Health and General Preventive Medicine. Among her many achievements, Dr. Kalia held academic appointments at Johns Hopkins University School of Medicine, the Johns Hopkins Bloomberg School of Public Health, and the Dell Medical School, University of Texas at Austin.

John Garcia, Director: Mr. Garcia is a seasoned senior executive who spent 32 years in the telecom industry. He spent the last 12 years of his career at Sprint where he held pivotal roles including Chief Marketing Officer and President of Wireless. Mr. Garcia has also he engaged in several major consulting projects, including for YRC, the nation's largest less than truckload (LTL) carrier; VRide, and Otsuka Pharmaceuticals.

About Maitri Health Technologies Corp.

Maitri Health Technologies Corp. (CSE: MTEC) (OTC Pink: MHTCF) (FSE: D84) is a global platform for healthcare security, diagnostic testing and occupational health-tech. Our mission is to ensure that "unstoppable is possible" for businesses and their employees through innovative, customized healthcare models. Maitri offers a system for businesses and organizations that helps engage employees and creates strategies to manage health and safety. Our stable, scalable system is an integrated health-tech platform that securely manages data while delivering comprehensive workplace health and safety outcomes.

For more information: investors@maitrihealth.ca

On behalf of the board of directors,

Maitri Health Technologies Corp.

Andrew Morton, Chief Executive Officer

Forward-Looking Statements

This news release includes forward-looking statements that are subject to risks and uncertainties, including statements regarding the benefits of the Acquisition. All statements within, other than statements of historical fact, are to be considered forward-looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in the Company's forward-looking statements include the the potential that milestones may not be satisfied, acquisitions may not achieve expected benefits, financing requirements, and the other risk factors described in the Company's filings with Canadian securities regulators on www.sedar.com. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100982