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Bright Scholar Announces Unaudited Financial Results for the First Quarter of Fiscal Year 2025

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SG&A expenses from continuing operations decreased 33.0% YoY 
Management to hold a conference call today at 7:00 a.m. Eastern Time

CAMBRIDGE, England and FOSHAN, China, Jan. 24, 2025 /PRNewswire/ — Bright Scholar Education Holdings Limited (“Bright Scholar,” the “Company,” “we” or “our”) (NYSE: BEDU), a global premier education service company, today announced its unaudited financial results for its first quarter of fiscal year 2025, ended November 30, 2024.

Effective the first quarter of fiscal year 2025, the Company changed its presentation currency from Renminbi (“RMB”) to Great Britain Pound (“GBP”) to better align with the Company’s business activities and reflect the Company’s performance. In this announcement, the unaudited financial results for the quarter ended November 30, 2024, are stated in GBP. Prior period numbers have been recast into the new reporting currency.

FIRST QUARTER OF FISCAL YEAR 2025 FINANCIAL HIGHLIGHTS

Revenue from continuing operations was GBP44.7 million, compared to GBP53.3 million for the same quarter last fiscal year.Overseas Study Counselling revenue from continuing operations increased by 5.8% to GBP9.6 million.Net income from continuing operations was GBP4.0 million, compared to GBP5.0 million for the same quarter last fiscal year. Adjusted net income[1] was GBP4.4 million, compared to GBP5.1 million for the same quarter last fiscal year. 

Revenue from continuing operations by Segment[2]

(GBP in millions except for
percentage)

 

For the first quarter
ended

November 30,

YoY

% Change

% of total
revenue in
F1Q2025

2024

2023

Schools[3]

25.7

28.2

-9.0 %

57.4 %

Overseas Study Counselling[4]

9.6

9.1

5.8 %

21.4 %

Others[5]

9.4

16.0

-40.9 %

21.2 %

Total

44.7

53.3

-16.1 %

100.0 %

[1]. Adjusted net income/(loss) is a non-GAAP financial measure, which is defined as net income/(loss) excluding share-based compensation expenses, amortization of intangible assets, tax effect of amortization of intangible assets, and income/(loss) from discontinued operations, net of tax.

[2]. Effective the first quarter of fiscal year 2025, the Company has updated its segment reporting to better reflect its strategic priorities. As a result, the Company now reports segments as Schools, Overseas Study Counselling, and Others. The segment revenue from continuing operations for the first quarter ended November 30, 2023, has been revised to be consistent with the presentation in the first quarter ended November 30, 2024. See “Change in Segment Reporting” in this release.

[3]. Schools business refers to the previous Overseas Schools segment.

[4]. Overseas Study Counselling business is part of the previous Complementary Education Services segment.

[5]. Others include the previous Domestic Kindergartens & K-12 Operation Services and Complementary Education Services segments (excluding Overseas Study Counselling).

For more information on these adjusted financial measures, please see the section captioned “Non-GAAP Financial Measures” and the tables captioned “Reconciliations of GAAP and Non-GAAP Results” set forth at the end of this release.

MANAGEMENT COMMENTARY

Mr. Robert Niu, Chief Executive Officer of Bright Scholar, commented, “We are pleased to deliver solid first quarter results for fiscal year 2025 amid an evolving external environment, demonstrating the effectiveness of our reorganized business structure and focus on our “dual-engine” growth strategy. During the quarter, we continued to propel the expansion of our Schools business while also improving operational efficiency and quality, freeing our resources to promote educational excellence. In addition, we consistently advanced our global recruitment initiatives aimed at attracting prospective international students, successfully expanding our product and service offerings to more international markets. Looking ahead, we will persist in streamlining our global operations and enhancing efficiency while simultaneously seizing the market’s extensive growth opportunities to strengthen our market share and our position as a leading global education service provider.”

Ms. Cindy Zhang, Chief Financial Officer of Bright Scholar, added, “Fiscal year 2025 is off to an encouraging start, highlighted by a significant reduction in SG&A expenses and year-over-year growth in our Overseas Study Counselling business in the first quarter. Our total revenue from continuing operations was GBP44.7 million, with Overseas Study Counselling revenue from continuing operations increasing by 5.8% year over year to GBP9.6 million. Moreover, we decreased SG&A expenses by 33.0% year over year through ongoing efforts to optimize our cost structure and streamline operations. In addition, we have initiated a share repurchase plan underscoring our commitment to enhancing shareholder value. By maintaining a healthy balance sheet and consistently executing our “dual-engine” growth strategy, we are confident of creating sustainable value for our customers and shareholders over the long term.”

UNAUDITED FINANCIAL RESULTS FOR THE FIRST FISCAL QUARTER ENDED NOVEMBER 30, 2024

Revenue from Continuing Operations

Revenue was GBP44.7 million, compared to GBP53.3 million for the same quarter last fiscal year.

Schools: Revenue contribution was GBP25.7 million, compared to GBP28.2 million for the same quarter last fiscal year.

Overseas Study Counselling: Revenue contribution was GBP9.6 million, compared to GBP9.1 million for the same quarter last fiscal year.

Others: Revenue contribution was GBP9.4 million, compared to GBP16.0 million for the same quarter last fiscal year.

Cost of Revenue from Continuing Operations

Cost of revenue was GBP31.7 million, compared to GBP35.4 million for the same quarter last fiscal year.

Gross Profit, Gross Margin and Adjusted Gross Profit from Continuing Operations

Gross profit was GBP13.0 million, compared to GBP17.9 million for the same quarter last fiscal year. Gross margin was 29.2%, compared to 33.5% for the same quarter last fiscal year.

Adjusted gross profit[6] from continuing operations was GBP13.2 million, compared to GBP18.0 million for the same quarter last fiscal year.

Selling, General and Administrative (SG&A) Expenses from Continuing Operations

Total SG&A expenses were GBP8.4 million, representing a 33.0% decrease from GBP12.6 million for the same quarter last fiscal year. The decrease was mainly due to the improvement in operational efficiency in our Schools business.

Operating Income, Operating Margin and Adjusted Operating Income from Continuing Operations

Operating income was GBP4.8 million, compared to GBP6.3 million for the same quarter last fiscal year. Operating margin was 10.7%, compared to 11.8% for the same quarter last fiscal year.

Adjusted operating income[7] was GBP5.2 million, compared to GBP6.4 million for the same quarter last fiscal year.

Net Income and Adjusted Net Income

Net income was GBP4.0 million, compared to GBP6.6 million for the same quarter last fiscal year.

Adjusted net income was GBP4.4 million, compared to GBP5.1 million for the same quarter last fiscal year.

Adjusted EBITDA[8]

Adjusted EBITDA was GBP6.4 million, compared to GBP7.6 million for the same quarter last fiscal year.

Net income per Ordinary Share/ADS and Adjusted Net Earnings per Ordinary Share/ADS

Basic and diluted net income per ordinary share attributable to ordinary shareholders from continuing operations were GBP0.03 each, compared to GBP0.04 each for the same quarter last fiscal year.

Adjusted basic and diluted net income per ordinary share[9] attributable to ordinary shareholders were GBP0.04 and GBP0.03, compared to GBP0.04 and GBP0.04 for the same quarter last fiscal year, respectively.

Basic and diluted net income per ADS attributable to ADS holders from continuing operations were GBP0.13 each, compared to GBP0.16 each for the same quarter last fiscal year.

Adjusted basic and diluted net income per ADS[10] attributable to ADS holders were GBP0.14 each, compared to GBP0.16 each for the same quarter last fiscal year.

[6]. Adjusted gross profit from continuing operations is a non-GAAP financial measure, which is defined as gross profit from continuing operations, excluding amortization of intangible assets.

[7]. Adjusted operating income/(loss) from continuing operations is a non-GAAP financial measure, which is defined as operating income/(loss) from continuing operations excluding share-based compensation expenses and amortization of intangible assets.

[8]. Adjusted EBITDA is a non-GAAP financial measure, which is defined as net income/(loss) excluding interest income/(expense), net, income tax expense/(benefit), depreciation and amortization, share-based compensation expenses, and income/(loss) from discontinued operations, net of tax.

[9]. Adjusted basic and diluted earnings/(loss) per share is a non-GAAP financial measure, which is defined as adjusted net income/(loss) attributable to ordinary shareholders divided by the weighted average number of basic and diluted ordinary shares.

[10]. Adjusted basic and diluted earnings/(loss) per American Depositary Share (“ADS”) is a non-GAAP financial measure, which is defined as adjusted net income/(loss) attributable to ADS shareholders divided by the weighted average number of basic and diluted ADSs.

Cash and Working Capital

As of November 30, 2024, the Company had cash and cash equivalents and restricted cash of GBP47.5 million, compared to GBP54.3 million as of August 31, 2024.

Change in Segment Reporting

Starting in the first quarter of fiscal year 2025, the Company updated its segment reporting to reflect its strategic focus. The Company now reports the Overseas Schools business as the Schools business, the overseas study counselling portion of Complementary Education Services as the Overseas Study Counselling business, and Domestic Kindergartens & K-12 Operation Services and Complementary Education Services (excluding overseas study counselling) as Others. Prior period segment information has been retrospectively revised to conform to the current presentation.

Authorization of Share Repurchase Plan

On January 22, 2025, BEDU’s board of directors authorized a share repurchase plan under which the Company may repurchase up to US$1.2 million of the Company’s ADSs over the next 12 months.

The Company may periodically repurchase its ADSs for cash in various means, including without limitation, open market purchases, block transactions and privately negotiated transactions, in compliance with applicable federal securities laws. In addition, the share repurchase program may be modified, suspended or terminated by the Board any time without prior notice. The number of ADSs repurchased and the timing of repurchases will depend on a number of factors, including without limitation, price, trading volume and general market conditions, along with the Company’s working capital requirements, general business conditions and other factors. Repurchases under the share repurchase program will be funded from the Company’s existing cash and cash equivalents or future cash provided by operating activities.

CONFERENCE CALL

The Company’s management will host an earnings conference call at 7:00 a.m. U.S. Eastern Time (8:00 p.m. Beijing/Hong Kong Time) on January 24, 2025.

Dial-in details for the earnings conference call are as follows:

Mainland China:                  4001-201203
Hong Kong:                         800-905945
United States:                     1-888-346-8982
International:                       1-412-902-4272

Participants should dial in at least 5 minutes before the scheduled start time and ask to be connected to the call for “Bright Scholar Education Holdings Limited.”

Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at http://ir.brightscholar.com/.

A replay of the conference call will be accessible after the conclusion of the live call until January 31, 2025, by dialing the following telephone numbers:

United States Toll Free:      1-877-344-7529
International:                       1-412-317-0088
Replay Passcode:               6100559

CONVENIENCE TRANSLATION

The Company’s reporting currency is GBP. However, periodic reports made to shareholders will include current period amounts translated into U.S. dollars using the prevailing exchange rates at the balance sheet date for the convenience of readers. Translations of balances in the condensed consolidated balance sheets, the related condensed consolidated statements of operations, and cash flows from GBP into U.S. dollars as of and for the quarter ended November 30, 2024, are solely for the readers’ convenience and were calculated at the rate of GBP1.00=US$1.2699, representing the noon buying rate set forth in the H.10 statistical release of the U.S. Federal Reserve Board on November 29, 2024. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate on November 29, 2024, or at any other rate.

NON-GAAP FINANCIAL MEASURES

In evaluating our business, we consider and use certain non-GAAP measures, including primarily adjusted EBITDA, adjusted net income/(loss), adjusted gross profit/(loss) from continuing operations, adjusted operating income/(loss) from continuing operations, adjusted net earnings/(loss) per share attributable to ordinary shareholders/ADS holders basic and diluted as supplemental measures to review and assess our operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. We define adjusted gross profit/(loss) from continuing operations as gross profit/(loss) from continuing operations excluding amortization of intangible assets. We define adjusted EBITDA as net income/(loss) excluding interest income/(expense), net, income tax expense/(benefit), depreciation and amortization, share-based compensation expenses, and income/(loss) from discontinued operations, net of tax. We define adjusted net income/(loss) as net income/(loss) excluding share-based compensation expenses, amortization of intangible assets, tax effect of amortization of intangible assets, and income/(loss) from discontinued operations, net of tax. We define adjusted operating income/(loss) from continuing operations as operating income/(loss) from continuing operations excluding share-based compensation expenses and amortization of intangible assets. Additionally, we define adjusted net earnings/(loss) per share attributable to ordinary shareholders/ADS holders, basic and diluted, as adjusted net income/(loss) attributable to ordinary shareholders/ADS holders (net income/(loss) to ordinary shareholders/ADS holders excluding share-based compensation expenses, amortization of intangible assets, tax effect of amortization of intangible assets, and income/(loss) from discontinued operations, net of tax) divided by the weighted average number of basic and diluted ordinary shares or ADSs.

We incur amortization expense of intangible assets related to various acquisitions that have been made in recent years. These intangible assets are valued at the time of acquisition and are then amortized over a period of several years after the acquisition. We believe that exclusion of these expenses allows greater comparability of operating results that are consistent over time for the Company’s newly-acquired and long-held business, as the related intangibles do not have a significant connection to the growth of the business. Therefore, we provide exclusion of amortization of intangible assets to define adjusted gross profit from continuing operations, adjusted operating income/(loss) from continuing operations, adjusted net income/(loss), and adjusted net earnings/(loss) per share attributable to ordinary shareholders/ADS holders, basic and diluted. In addition, the strategic move to dispose of the non-core businesses is viewed as discontinued operations, which is a non-recurring item. The exclusion facilitates comparisons of our operating performance on a period-to-period basis. Therefore, we provide exclusion of income/(loss) from discontinued operations, net of tax, to define adjusted net income/(loss), adjusted EBITDA, adjusted net earnings/(loss) per share attributable to ordinary shareholders/ADS holders, basic and diluted.

We present the non-GAAP financial measures because they are used by our management to evaluate our operating performance and formulate business plans. Such non-GAAP measures include adjusted EBITDA, adjusted net income/(loss), adjusted gross profit/(loss) from continuing operations, adjusted operating income/(loss) from continuing operations, adjusted net earnings/(loss) per share attributable to ordinary shareholders/ADS holders basic and diluted. Non-GAAP financial measures enable our management to assess our operating results without considering the impact of non-cash charges, including depreciation and amortization and share-based compensation expenses, and without considering the impact of non-operating items such as interest income/(expense), net; income tax expense/benefit; share-based compensation expenses; amortization of intangible assets, tax effect of amortization of intangible assets, and without considering the impact of non-recurring item, i.e. income/(loss) from discontinued operations. We also believe that the use of these non-GAAP measures facilitates investors’ assessment of our operating performance.

The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using these non-GAAP financial measures is that they do not reflect all items of income and expense that affect our operations. Interest income/(expense), net; income tax expense/benefit; depreciation and amortization; share-based compensation expense; tax effect of amortization of intangible assets have been and may continue to be incurred in our business and are not reflected in the presentation of these non-GAAP measures, including adjusted EBITDA or adjusted net income/(loss). Further, these non-GAAP measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.

About Bright Scholar Education Holdings Limited

Bright Scholar is a premier global education service Group. The Company primarily provides quality international education to global students and equips them with the critical academic foundation and skillsets necessary to succeed in the pursuit of higher education.  

For more information, please visit: https://ir.brightscholar.com/.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the Company’s business plans and development, which can be identified by terminology such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control, which may cause the Company’s actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

IR Contact:
Email: BEDU@thepiacentegroup.com
Phone: +86 (10) 6508-0677/ +1-212-481-2050

Media Contact:
Email: media@brightscholar.com

 

 

BRIGHT SCHOLAR EDUCATION HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(Amounts in thousands)

As of

August 31,

     November 30,

2024

2024

GBP

GBP

USD

ASSETS

Current assets

Cash and cash equivalents 

52,991

47,147

59,872

Restricted cash  

1,307

331

420

Accounts receivable, net    

2,018

2,054

2,608

Amounts due from related parties, net    

1,548

2,064

2,621

Other receivables, deposits and other
     assets, net

13,303

12,317

15,641

Inventories

125

821

1,043

Total current assets     

71,292

64,734

82,205

Restricted cash – non-current

27

27

34

Property and equipment, net

37,522

36,245

46,028

Intangible assets, net

5,327

5,230

6,642

Goodwill, net     

56,634

56,975

72,353

Long-term investments, net

2,623

2,655

3,372

Deferred tax assets, net     

206

112

142

Other non-current assets, net

1,013

985

1,251

Operating lease right-of-use assets –
      non-current

152,451

151,437

192,310

Total non-current assets             

255,803

253,666

322,132

TOTAL ASSETS    

327,095

318,400

404,337

 

 

BRIGHT SCHOLAR EDUCATION HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS-CONTINUED

(Amounts in thousands)

As of

August 31,

November 30,

2024

2024

GBP

GBP

USD

LIABILITIES AND EQUITY

Current liabilities

Accounts payable

9,864

11,384

14,457

Contract liabilities – current

47,872

39,011

49,540

Accrued expenses and other current
      liabilities

20,538

21,026

26,701

Amounts due to related parties

8,417

4,478

5,687

Income tax payable

8,483

8,298

10,538

Refund liabilities – current 

1,060

1,083

1,375

Operating lease liabilities – current

11,420

11,614

14,749

Total current liabilities

107,654

96,894

123,047

Deferred tax liabilities, net

3,348

3,166

4,021

Operating lease liabilities – non-
      current         

150,901

149,867

190,316

Non-current contract liabilities

93

103

131

Total non-current liabilities        

154,342

153,136

194,468

TOTAL LIABILITIES            

261,996

250,030

317,515

EQUITY

Share capital      

1

1

1

Additional paid-in capital  

220,901

221,246

280,960

Statutory reserves              

2,073

2,409

3,059

Accumulated other comprehensive
      income

(3,777)

(4,042)

(5,133)

Accumulated deficit           

(165,693)

(162,292)

(206,095)

Shareholders’ equity   

53,505

57,322

72,792

Non-controlling interests            

11,594

11,048

14,030

TOTAL EQUITY   

65,099

68,370

86,822

TOTAL LIABILITIES AND EQUITY   

327,095

318,400

404,337

 

 

BRIGHT SCHOLAR EDUCATION HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

 (Amounts in thousands, except for shares and per share data, income per share, income per ADS)

Three Months Ended November 30, 

2023

2024

GBP 

GBP

USD

Continuing operations

Revenue

53,306

44,732

56,805

Cost of revenue

(35,443)

(31,689)

(40,242)

Gross profit

17,863

13,043

16,563

Selling, general and administrative expenses

(12,559)

(8,410)

(10,680)

Other operating income

983

138

175

Operating income

6,287

4,771

6,058

Interest income, net

94

59

75

Investment income

115

2

4

Other expenses

(65)

(6)

(8)

Income before income taxes and share of equity in profit of unconsolidated affiliates

6,431

4,826

6,129

Income tax expense

(1,449)

(814)

(1,034)

Share of equity in profit of unconsolidated affiliates

20

–

–

Net income from continuing operations

5,002

4,012

5,095

Income from discontinued operations, net of tax

1,599

–

–

Net income

6,601

4,012

5,095

Net income attributable to non-controlling interests

Continuing operations

312

275

349

Discontinued operations

191

–

–

Net income attributable to ordinary shareholders

Continuing operations

4,690

3,737

4,746

Discontinued operations

1,408

–

–

Net income per share attributable to

   ordinary shareholders

—Basic and diluted

Continuing operations

0.04

0.03

0.04

Discontinued operations

0.01

–

–

Weighted average shares used in

   calculating net income per ordinary share:

—Basic

Continuing operations and discontinued operations

118,669,795

118,669,795

118,669,795

—Diluted

Continuing operations and discontinued operations

118,669,795

119,283,889

119,283,889

Net income per ADS

—Basic and diluted

Continuing operations

0.16

0.13

0.16

Discontinued operations

0.05

–

–

 

 

BRIGHT SCHOLAR EDUCATION HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Amounts in thousands)

Three Months Ended November 30,

2023

2024

GBP

GBP

USD

Net cash used in operating activities

(2,327)

(5,657)

(7,207)

Net cash (used in)/ generated from investing activities

(1,965)

3,561

4,522

Net cash used in financing activities

(210)

(4,442)

(5,641)

Effect of exchange rate changes on cash and cash equivalents, and restricted cash

627

(263)

(333)

Net change in cash and cash equivalents,

(3,875)

(6,819)

(8,658)

and restricted cash

Cash and cash equivalents, and restricted cash

61,697

54,325

68,987

at beginning of the period

Cash and cash equivalents, and restricted cash

57,822

47,506

60,329

at end of the period

                                                                       

 

BRIGHT SCHOLAR EDUCATION HOLDINGS LIMITED

Reconciliations of GAAP and Non-GAAP Results

(Amounts in thousands, except for shares and per share data, income per share, income per ADS)

Three Months Ended November 30,

2023

2024

GBP

GBP

USD

Gross profit from continuing operations

17,863

13,043

16,563

Add: Amortization of intangible assets

116

113

143

Adjusted gross profit from continuing operations

17,979

13,156

16,706

Operating income from continuing operations

6,287

4,771

6,058

Add: Share-based compensation expenses

–

345

438

Add: Amortization of intangible assets

116

113

143

Adjusted operating income from continuing operations

6,403

5,229

6,639

Net income

6,601

4,012

5,095

Add: Share-based compensation expenses

–

345

438

Add: Amortization of intangible assets

116

113

143

Add: Tax effect of amortization of intangible assets

(23)

(23)

(29)

Less: Income from discontinued operations, net of tax

1,599

–

–

Adjusted net income

5,095

4,447

5,647

Net income attributable to ordinary shareholders

6,098

3,737

4,746

Add: Share-based compensation expenses

–

345

438

Add: Amortization of intangible assets

88

86

109

Add: Tax effect of amortization of intangible assets

(18)

(18)

(23)

Less: Income from discontinued operations, net of tax

1,408

–

–

Adjusted net income attributable to ordinary shareholders

4,760

4,150

5,270

Net income

6,601

4,012

5,095

Add: Interest income, net

(94)

(59)

(75)

Add: Income tax expense

1,449

814

1,034

Add: Depreciation and amortization

1,279

1,266

1,608

Add: Share-based compensation expenses

–

345

438

Less: Income from discontinued operations, net of tax

1,599

–

–

Adjusted EBITDA

7,636

6,378

8,100

Weighted average shares used

   in calculating adjusted net income per ordinary share:

—Basic

118,669,795

118,669,795

118,669,795

—Diluted

118,669,795

119,283,889

119,283,889

Adjusted net income per share attributable

   to ordinary shareholders

—Basic

0.04

0.04

0.04

—Diluted

0.04

0.03

0.04

Adjusted net income per ADS

—Basic and diluted

0.16

0.14

0.18

 

 

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SOURCE Bright Scholar Education Holdings Ltd.

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Horizon Petroleum Ltd. Announces Proposed $2,000,000 Secured Grid Promissory Note and Close of Its Shares for Debt Settlement

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/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS./

CALGARY, AB, Oct. 22, 2026 /CNW/ — Horizon Petroleum Ltd. (the “Company” or “Horizon”) (TSXV: HPL) (FRA: HPM) (Tradegate: HPM) is pleased to announce that it intends to enter into a secured grid promissory note (the “Promissory Note”) with Wilco Investments Ltd., a company controlled by Trevor Williams who is a director of the Company, in the aggregate principal amount of up to CAD $2,000,000. 

The proceeds will be used to make deposits on three generators and on production facilities. The generators will have a combined generating capacity of 3 megawatts. This equipment is Horizon’s next investment in its gas to power strategy for its Lachowice natural gas development in Poland.

The Promissory Note will bear interest from the applicable issuance date at 12% per annum. The Promissory Note and accrued interest will be due on December 31, 2026 (the “Maturity Date”). The Maturity Date may be extended by mutual agreement between the parties. The Promissory Note may be prepaid in whole or in part at any time without penalty. The Promissory Note will be immediately due and payable upon completion by the Company of a financing of equity or debt of CAD $5,000,000 or more. The Promissory Note will be secured by Horizon’s electrical generating equipment in Poland.

The closing date is anticipated to be October 22, 2026.

Entering into the Promissory Note and the advance of funds thereunder are subject to the satisfaction of customary conditions, including the approval of the TSXV.

As Trevor Williams is a director of the Company, the Promissory Note will constitute a “related party transaction” pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company intends to rely on the exemption from the formal valuation requirement pursuant to section 5.5(b) of MI 61-101 as the Company does not have securities listed on a specified market, and on the exemption from the minority shareholder approval requirement pursuant to section 5.7(1)(a) of MI 61-101 as the fair market value of the Promissory Note will not exceed 25% of the Company’s market capitalization.

In addition, the Company announces that it has completed an agreement to settle a total of CAD $524,000 of the Company’s debt (the “Debt”) with certain arm’s length and non-arm’s length parties (the “Shares for Debt Settlement”). The Debt payable to directors and officers of the Company who are Insiders (as such term is defined under the policies of the TSXV) is an aggregate of CAD $465,000 and the Company will settle the same by issuing to such parties 2,657,143 common shares at a deemed price of CAD $0.175 per common share. The Debt payable to arm’s length service providers is an aggregate of CAD $59,000 and the Company will settle the same by issuing to such parties 337,143 common shares at a deemed price of $0.175 per common share. 

The Shares for Debt Settlement was approved by disinterested shareholders at the shareholder meeting held on July 28, 2026. All securities issued in connection with the Shares for Debt Settlement will be subject to a statutory four-month hold period in accordance with applicable securities legislation. 

The Company has received final approval for the Shares for Debt Settlement from the TSXV. 

The Company relied on exemptions from the formal valuation and minority approval requirements of sections 5.5(b) and 5.7(1)(a) of MI 61-101 in respect of such insider participation in the Shares for Debt Settlement, based on a determination that fair market value of the participation by insiders did not exceed 25% of the market capitalization of Horizon, as determined in accordance with MI 61-101.

About Horizon Petroleum Ltd.

Calgary-based Horizon Petroleum Ltd. is focused on the appraisal and development of natural gas resources and clean energy opportunities in Europe, with the objective of contributing to European energy independence and security. Horizon is advancing its Polish natural gas assets through a technically focused, phased development strategy designed to unlock their commercial potential. Horizon’s management team and Board of Directors comprise oil and gas, business and finance professionals with significant international experience.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release contains “forward-looking statements” or “forward-looking information” (collectively referred to herein as “forward-looking statements”) within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Horizon. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur or be achieved. This press release contains forward-looking statements pertaining to, among other things, the Company entering into the Promissory Note, the terms of the Promissory Note, the anticipated closing date, reliance on exemptions under MI 61-101, the anticipated use of proceeds and the approval of the TSX-V.

Forward-looking information is based on current expectations, estimates and projections that involve a number of risks, which could cause actual results to vary and in some instances, to differ materially from those anticipated by Horizon and described in the forward-looking information contained in this press release.

Although Horizon believes that the material factors, expectations and assumptions expressed in such forward-looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance.

SOURCE Horizon Petroleum Ltd.

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BMO Announces Cash Distributions for Certain BMO ETFs and ETF Series of BMO Mutual Funds for October 2026

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TORONTO, Oct. 22, 2026 /CNW/ — BMO Asset Management Inc., as manager of the BMO ETFs, and BMO Investments Inc., as manager of the BMO Mutual Funds, today announced the October 2026 cash distributions for unitholders of BMO ETFs and unitholders of exchange-traded series of units of the BMO Mutual Funds (collectively, the “ETF Series”)¹ that distribute monthly, as set out in the table below. Unitholders of record of the BMO ETFs and the ETF Series of the BMO Mutual Funds at the close of business on October 29, 2026, will receive cash distributions payable on November 3, 2026.

The ex-dividend date and record date for all BMO ETFs and ETF Series of BMO Mutual Funds is October 29, 2026.

Details of the per unit cash distribution amount are as follows:

Monthly Distributions

 FUND NAME

FUND TICKER

CASH DISTRIBUTION PER UNIT $

BMO AAA CLO ETF

ZAAA

0.124

BMO AAA CLO ETF (Hedged Units)

ZAAA.F

0.117

BMO AAA CLO ETF (USD Units)*

ZAAA.U

0.120

BMO Aggregate Bond Index ETF

ZAG

0.038

BMO All-Equity ETF (Target Cash Flow Units)

ZEQT.T

0.100

BMO Asset-Backed Securities ETF

ZABS

0.123

BMO Asset-Backed Securities ETF (Hedged Units)

ZABS.F

0.119

BMO Asset-Backed Securities ETF (USD Units)*

ZABS.U

0.119

BMO Balanced ETF (Target Cash Flow Units)

ZBAL.T

0.049

BMO BBB CLO ETF

ZBBZ

0.163

BMO BBB CLO ETF (Hedged Units)

ZBBZ.F

0.155

BMO BBB CLO ETF (USD Units)*

ZBBZ.U

0.158

BMO Canadian Core Plus US Balanced ETF

ZBCB

0.060

BMO Canadian Dividend ETF

ZDV

0.075

BMO Canadian High Dividend Covered Call ETF

ZWC

0.120

BMO Canadian High Dividend Covered Call ETF (Target Cash Flow Units)

ZWC.T

0.333

BMO Canadian MBS Index ETF

ZMBS

0.082

BMO Core Bond Fund (ETF Series)

ZCRB

0.044

BMO Covered Call Canadian Banks ETF

ZWB

0.170

BMO Covered Call Canadian Banks ETF (Target Cash Flow Units)

ZWB.T

0.488

BMO Covered Call Canadian Banks ETF (USD Units)*

ZWB.U

0.210

BMO Covered Call Dow Jones Industrial Average Hedged to CAD ETF

ZWA

0.150

BMO Covered Call Dow Jones Industrial Average Hedged to CAD ETF (Target Cash Flow Units)

ZWA.T

0.413

BMO Covered Call Energy ETF

ZWEN

0.220

BMO Covered Call Energy ETF (Target Cash Flow Units)

ZWEN.T

0.488

BMO Covered Call Health Care ETF

ZWHC

0.160

BMO Covered Call Health Care ETF (Target Cash Flow Units)

ZWHC.T

0.413

BMO Covered Call Spread Gold Bullion ETF

ZWGD

0.170

BMO Covered Call Spread Gold Bullion ETF (Target Cash Flow Units)

ZWGD.T

0.333

BMO Covered Call Technology ETF

ZWT

0.350

BMO Covered Call Technology ETF (Target Cash Flow Units)

ZWT.T

0.413

BMO Covered Call US Banks ETF

ZWK

0.160

BMO Covered Call US Banks ETF (Target Cash Flow Units)

ZWK.T

0.450

BMO Covered Call Utilities ETF

ZWU

0.070

BMO Covered Call Utilities ETF (Target Cash Flow Units)

ZWU.T

0.625

BMO Credit Stress Opportunities ETF

ZCDX

0.000

BMO Credit Stress Opportunities ETF (USD Units)*

ZCDX.U

0.000

BMO Discount Bond Index ETF

ZDB

0.022

BMO Emerging Markets Bond Hedged to CAD Index ETF

ZEF

0.045

BMO Emerging Markets Bond Fund (ETF Series)

ZEMB

0.053

BMO Equal Weight Banks Index ETF

ZEB

0.150

BMO Equal Weight REITs Index ETF

ZRE

0.090

BMO Equal Weight Utilities Index ETF

ZUT

0.071

BMO Europe High Dividend Covered Call ETF

ZWP

0.110

BMO Europe High Dividend Covered Call ETF (Target Cash Flow Units)

ZWP.T

0.333

BMO Europe High Dividend Covered Call Hedged to CAD ETF

ZWE

0.120

BMO Europe High Dividend Covered Call Hedged to CAD ETF (Target Cash Flow Units)

ZWE.T

0.333

BMO Floating Rate High Yield ETF

ZFH

0.062

BMO Global Dividend Opportunities Fund (Active ETF Series)

ZGDV

0.034

BMO Global Enhanced Income Fund (ETF Series)

ZWQT

0.085

BMO Global High Dividend Covered Call ETF

ZWG

0.190

BMO Global High Dividend Covered Call ETF (Target Cash Flow Units)

ZWG.T

0.333

BMO Global Infrastructure Fund (Active ETF Series)

ZGIF

0.050

BMO Global REIT Fund (Active ETF Series)

ZGRT

0.055

BMO Government Bond Index ETF

ZGB

0.111

BMO Growth ETF (Target Cash Flow Units)

ZGRO.T

0.058

BMO High Yield US Corporate Bond Hedged to CAD Index ETF

ZHY

0.060

BMO High Yield US Corporate Bond Index ETF

ZJK

0.103

BMO High Yield US Corporate Bond Index ETF (USD Units)*

ZJK.U

0.098

BMO International Dividend ETF

ZDI

0.085

BMO International Dividend Hedged to CAD ETF

ZDH

0.085

BMO Laddered Preferred Share Index ETF

ZPR

0.060

BMO Laddered Preferred Share Index ETF (USD Units)*

ZPR.U

0.096

BMO Long Corporate Bond Index ETF

ZLC

0.053

BMO Long Federal Bond Index ETF

ZFL

0.027

BMO Long Provincial Bond Index ETF

ZPL

0.034

BMO Mid Corporate Bond Index ETF

ZCM

0.055

BMO Mid Federal Bond Index ETF

ZFM

0.035

BMO Mid Provincial Bond Index ETF

ZMP

0.043

BMO Mid-Term US IG Corporate Bond Hedged to CAD Index ETF

ZMU

0.049

BMO Mid-Term US IG Corporate Bond Index ETF

ZIC

0.071

BMO Mid-Term US IG Corporate Bond Index ETF (USD Units)*

ZIC.U

0.052

BMO Money Market Fund (ETF Series)

ZMMK

0.100

BMO Monthly Income ETF

ZMI

0.049

BMO Monthly Income ETF (USD Units)*

ZMI.U

0.026

BMO MSCI Canada IMI High Dividend Yield Index ETF

ZDIV

0.108

BMO Premium Yield ETF

ZPAY

0.200

BMO Premium Yield ETF (Hedged Units)

ZPAY.F

0.175

BMO Premium Yield ETF (USD Units)*

ZPAY.U

0.180

BMO Real Return Bond Index ETF

ZRR

0.060

BMO Short Corporate Bond Index ETF

ZCS

0.047

BMO Short Federal Bond Index ETF

ZFS

0.028

BMO Short Provincial Bond Index ETF

ZPS

0.024

BMO Short-Term US IG Corporate Bond Hedged to CAD Index ETF

ZSU

0.050

BMO Strategic Autocallable Income US Large Cap ETF

ZACU

0.305

BMO Strategic Autocallable Income US Large Cap ETF (Hedged Units)

ZACU.F

0.305

BMO Strategic Autocallable Income US Large Cap ETF (USD Units)*

ZACU.U

0.305

BMO Ultra Short-Term Bond ETF

ZST

0.110

BMO Ultra Short-Term US Bond ETF (USD Units)*

ZUS.U

0.178

BMO US Aggregate Bond Index ETF

ZUAG

0.075

BMO US Aggregate Bond Index ETF (Hedged Units)

ZUAG.F

0.069

BMO US Aggregate Bond Index ETF (USD Units)*

ZUAG.U

0.072

BMO US Dividend ETF

ZDY

0.080

BMO US Dividend ETF (USD Units)*

ZDY.U

0.060

BMO US Dividend Growth ETF

ZBDU

0.070

BMO US Dividend Growth ETF (Hedged Units)

ZBDU.F

0.070

BMO US Dividend Hedged to CAD ETF

ZUD

0.055

BMO US High Dividend Covered Call ETF

ZWH

0.140

BMO US High Dividend Covered Call ETF (Target Cash Flow Units)

ZWH.T

0.413

BMO US High Dividend Covered Call ETF (USD Units)*

ZWH.U

0.140

BMO US High Dividend Covered Call Hedged to CAD ETF

ZWS

0.120

BMO US High Dividend Covered Call Hedged to CAD ETF (Target Cash Flow Units)

ZWS.T

0.413

BMO US Preferred Share Hedged to CAD Index ETF

ZHP

0.080

BMO US Preferred Share Index ETF

ZUP

0.096

BMO US Preferred Share Index ETF (USD Units)*

ZUP.U

0.090

BMO US Put Write ETF

ZPW

0.125

BMO US Put Write ETF (USD Units)*

ZPW.U

0.125

BMO US Put Write Hedged to CAD ETF

ZPH

0.120

BMO USD Cash Management ETF

ZUCM

0.108

BMO USD Cash Management ETF (USD Units)*

ZUCM.U

0.104

*Cash distribution per unit ($) amounts are USD for ZAAA.U, ZABS.U, ZBBZ.U, ZWB.U, ZCDX.U, ZJK.U, ZPR.U, ZIC.U, ZMI.U, ZPAY.U, ZACU.U, ZUS.U, ZUAG.U, ZDY.U, ZWH.U, ZUP.U, ZPW.U, ZUCM.U.

1 BMO ETFs are managed by BMO Asset Management Inc., an investment fund manager, a portfolio manager, and a separate legal entity from Bank of Montreal. ETF Series of the BMO Mutual Funds are managed by BMO Investments Inc., an investment fund manager and a separate legal entity from Bank of Montreal

Any statement that necessarily depends on future events may be a forward-looking statement. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Although such statements are based on assumptions that are believed to be reasonable, there can be no assurance that actual results will not differ materially from expectations. Investors are cautioned not to rely unduly on any forward-looking statements. In connection with any forward-looking statements, investors should carefully consider the areas of risk described in the most recent prospectus.

This communication is for information purposes. The information contained herein is not, and should not be construed as, investment, tax or legal advice to any party. Investments should be evaluated relative to the individual’s investment objectives and professional advice should be obtained with respect to any circumstance.

The BMO ETFs or securities referred to herein (ZDIV) are not sponsored, endorsed or promoted by MSCI Inc. (MSCI), and MSCI bears no liability with respect to any such BMO ETFs or securities or any index on which such BMO ETFs or securities are based. The prospectus of the BMO ETFs contains a more detailed description of the limited relationship MSCI has with BMO Asset Management Inc. and any related BMO ETFs.

The Dow Jones Industrial Index is a product of S&P Dow Jones Indices LLC or its affiliates (SPDJI), and has been licensed for use by BMO Asset Management Inc. S&P®, S&P 500®, US 500, The 500, iBoxx®, iTraxx® and CDX® are trademarks of S&P Global, Inc. or its affiliates (S&P) and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones), and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by BMO Asset Management Inc. The relevant BMO ETF (ZWA, ZWA.T) is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s), nor do they have any liability for any errors, omissions, or interruptions of the Index.

BLOOMBERG® and the Bloomberg Index are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (BISL), the administrator of the index (collectively, Bloomberg) and have been licensed for use for certain purposes by BMO Asset Management Inc. Bloomberg is not affiliated with BMO Asset Management Inc., and Bloomberg does not approve, endorse, review, or recommend any BMO ETFs. Bloomberg does not guarantee the timeliness, accuracy or completeness of any data or information relating to the BMO ETFs.

BMO ETFs are not in any way sponsored, endorsed, sold or promoted by FTSE Global Debt Capital Markets Inc. (FGDCM), FTSE International Limited (FTSE), Frank Russell Company (Frank Russell), FTSE Fixed Income LLC (FTSE FI) or the London Stock Exchange Group companies (together with FGDCM, FTSE, Frank Russell and FTSE FI, the Licensor Parties). The Licensor Parties make no claim, prediction, warranty or representation whatsoever, expressly or impliedly, either as to (i) the results to be obtained from the use of the FTSE BMO ETF Indices, (ii) the figure at which any of the FTSE BMO ETF Indices stands at any particular time on any particular day or otherwise, or (iii) the suitability of an Underlying Index for the particular purpose to which it is being put in connection with the FTSE BMO ETFs. Each of the FTSE BMO ETF Indices is compiled and calculated by FGDCM of FTSE and all copyright in any of the FTSE BMO ETF Indices values and constituent lists vests in FGDCM or FTSE, respectively. The Licensor Parties shall not be liable (whether in negligence or otherwise) to any person for any error in any of the FTSE BMO ETF Indices and the Licensor Parties shall not be under any obligation to advise any person of any error therein. FTSE® is a trade mark of the London Stock Exchange Group companies and is used under licence.

Commissions, management fees and expenses all may be associated with investments in BMO ETFs and ETF Series units of the BMO Mutual Funds. Please read the ETF facts, fund facts or prospectus of the relevant BMO ETF or ETF Series of BMO Mutual Fund before investing. BMO ETFs and ETF Series units of the BMO Mutual Funds are not guaranteed, their values change frequently and past performance may not be repeated. BMO ETFs and ETF Series units may be bought and sold at market price on a stock exchange and brokerage commissions will reduce returns.

Distributions are not guaranteed and are subject to change and/or elimination depending on market conditions. The payment of distributions should not be confused with an investment fund’s performance, rate of return or yield. If distributions paid by an investment fund are greater than the performance of the fund, investors’ original investment will shrink. Distributions of net income and net taxable gains of a BMO ETF or an ETF Series will be included in the unitholder’s income for tax purposes in the year they are paid, whether or not such amounts are reinvested in additional units. A unitholder’s adjusted cost base (“ACB”) will be reduced by the amount of any return of capital (“ROC”). If a unitholder’s ACB goes below zero, such unitholder will have to pay capital gains tax on the amount below zero. Please refer to the summary of the principal income tax considerations set out in the prospectus for the relevant BMO ETF or ETF Series. Investors should also consult their own tax advisors about their individual circumstances.

The Target Cash Flow Units are subject to capital depletion risk. Target Cash Flow Units make monthly distributions of a fixed amount which may be comprised of, in whole or in part, a ROC. A ROC reduces the amount of an original investment and may result in the return to investors of the entire amount of an original investment.

The Target Cash Flow Units’ monthly distribution dollar amount is reset at the beginning of each calendar year. The dollar amount is a factor of the annualized distribution rate for the Target Cash Flow Units (which is the rate set out in the individual BMO ETF profiles in the applicable BMO ETF’s prospectus), the net asset value per unit of a series of a BMO ETF (NAVPS) as of the end of the previous calendar year, and the number of Target Cash Flow Units of the BMO ETF held at the time of the distribution. Although not expected, we may also adjust the monthly distribution during the year, if capital market conditions have significantly affected the ability of the BMO ETF to maintain the applicable distribution. If we make any such adjustment to the monthly distribution, we will issue a press release to communicate the change. The distribution rate applicable to the Target Cash Flow Units may be higher than the rate of return or the portfolio yield of the BMO ETF that offers such units. As a result, if you elect to receive some or all of the regular monthly distributions in cash, the value of your investment in the BMO ETF may decline over time.

For a summary of the risks of an investment in the BMO ETFs or ETF Series units of the BMO Mutual Funds, please see the specific risks set out in the relevant ETF facts, fund facts or prospectus. BMO ETFs and ETF Series units of the BMO Mutual Funds trade like stocks, fluctuate in market value and may trade at a discount to their net asset value, which may increase the risk of loss.

BMO ETFs are managed by BMO Asset Management Inc., an investment fund manager, a portfolio manager, and a separate legal entity from Bank of Montreal. BMO Mutual Funds are managed by BMO Investments Inc., an investment fund manager and a separate legal entity from Bank of Montreal.

BMO Global Asset Management is a brand name under which BMO Asset Management Inc. and BMO Investments Inc. operate.

“BMO (M-bar roundel symbol)” is a registered trademark of Bank of Montreal, used under licence.

Further information about BMO ETFs and ETF Series of the BMO Mutual Funds can be found at www.bmoetfs.com.

About BMO Financial Group 

BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.5 trillion as of July 31, 2026. Serving clients for more than 200 years, BMO provides a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services across Canada, the United States, and select markets globally. BMO is innovating for business value, by deploying and integrating human, digital and artificial intelligence to personalize client experiences, augment teams, and automate its business responsibly. Driven by its purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and stronger communities.

SOURCE BMO Financial Group

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ACL Digital Launches AgentixCare, a Human-in-the-Loop Agentic AI Platform for Healthcare Payers, Providers, and MedTech

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The AI-first platform applies agentic AI, generative AI, and predictive models across clinical care, revenue cycle management, and connected MedTech, with humans in control of every critical decision.

SAN JOSE, Calif., Oct. 22, 2026 /PRNewswire/ — ACL Digital, part of the ALTEN Group, today announced the launch of AgentixCare, a Human-in-the-Loop (HITL) Agentic AI platform for healthcare payers, providers, and MedTech organizations. A trusted AI-led Digital Enterprise & Systems Engineering Partner, ACL Digital drives innovation by designing and building intelligent systems across the full technology stack, from chip-to-cloud.

Traditional healthcare platforms record what happened but rarely act on it. Fragmented EHRs, manual prior authorizations, rising claim denials, and disconnected device data bury clinicians in documentation and leave revenue teams chasing paperwork. AgentixCare closes that gap, cutting costs by up to 30–50% while improving productivity, care quality, cash flow, and asset uptime, with HITL oversight at every decision point.

“Healthcare does not need another dashboard. It needs AI that does real clinical, financial, and operational work, safely. AgentixCare puts autonomous agents to work on the tasks that slow care down, from prior authorizations to denials to documentation, while keeping clinicians firmly in control. That is how our clients will move from AI pilots to measurable outcomes in weeks, not years,” said Ramandeep Singh, CEO of ACL Digital.

Unlike point solutions that bolt AI onto legacy workflows, the platform is built AI-first. Its agents assess data, gather clinical and policy evidence, assemble submissions, trace root causes, and recommend next-best actions.

End-to-End Coverage Across the Healthcare Value Chain

Clinical Care & Intelligence: EHR-ready AI notes, predictive early warnings, real-time clinical decision support (CDS), and formulary mapping.Agentic Revenue Cycle & Payer Operations: Electronic prior authorization and end-to-end claim and denial management, from scrubbing to recovery and reconciliation.Intelligent Connected MedTech: Predictive maintenance, performance analytics, a GenAI copilot for surgical robotics fleets, and infusion pump monitoring.AI-Governed Trust, Risk & Compliance: A compliance copilot for HIPAA and HITECH readiness.Future-Ready Interoperability: HL7 v2, FHIR R4, and SMART on FHIR connectors for leading enterprise and open-source EMRs.

The platform is designed to significantly reduce manual prior authorization work and administrative costs, speed up routine authorization decisions, cut claim denials and unplanned device downtime, catch more patient anomalies, and deliver faster answers through AI copilots and natural language processing.

“We engineered AgentixCare the way we build medical-grade systems: interoperable from day one, secure by design, and governed end to end. Every agent works on FHIR and HL7 data, every recommendation shows its evidence, and every action is approved and recorded. That combination of agentic AI and Human-in-the-Loop governance is what makes enterprise adoption fast and safe,” said Suresh Venkateswaran, Head – Digital Product Engineering Services at ACL Digital.

AgentixCare draws on ACL Digital’s decades of domain and product engineering experience with healthcare, life sciences, and medical device companies. Developed by the company’s Healthcare Center of Excellence, it combines first-hand knowledge of Clinical, Payer, and MedTech workflows with interoperability standards and responsible AI practices.

AgentixCare is available now for pilot programs. To request a demonstration, visit AgentixCare programs.

About ACL Digital

ACL Digital, part of the ALTEN Group, is a trusted AI-led Digital Enterprise & Systems Engineering Partner driving innovation by designing and building intelligent systems across the full technology stack from chip to cloud. By integrating AI and data-powered solutions, we help enterprises accelerate digital transformation, optimize operations, and achieve scalable business outcomes. Partner with us to turn complexity into clarity and shape the future of your organization. Learn more at www.acldigital.com.

 

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SOURCE ACL Digital

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