UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or Section 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 1, 2024
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification Number) | ||||||||||||
| (Address of principal executive offices) | (Zip Code) | ||||||||||
(833 ) 886-1725
(Registrant’s telephone number, including area code)
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:
| 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 Securities Exchange Act of 1934:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
Emerging growth company o
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. o
Item 7.01 Regulation FD Disclosure.
Attached as Exhibit 99.l to this Current Report on Form 8-K, and incorporated into this Item 7.01 by reference, is a copy of a press release (the “Press Release”) that announces a partnership between American Oncology Network, Inc. (the “Company”) and Ascend Technologies Group to launch Meaningful Insights Biotech Analytics (“MiBA”), a new healthcare technology company.
The information in this Item 7.01, including Exhibit 99.1 is furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liabilities under that section. This Current Report on Form 8-K will not be deemed an admission as to the materiality of any information contained in this Item 7.01, including Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
Exhibit No. | Description | |||||||
99.1* | ||||||||
| 104 | Cover Page Interactive Data File, formatted in Inline Extensible Business Reporting Language (iXBRL). | |||||||
The exhibits to this Current Report on Form 8-K may contain hypertext links to information on our website or other parties’ websites. The information on our website and other parties’ websites is not incorporated by reference into this Current Report on Form 8-K and does not constitute a part of this Form 8-K.
Forward-Looking Statements
Certain statements in this Current on Form 8-K are forward-looking statements. Forward-looking statements generally relate to future events including future financial or operating performance of AON. Forward-looking statements generally relate to future events or AON’s future financial or operating performance. For example, projections of future revenue and other metrics are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential” or “continue”, or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements.
These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by AON and its management, are inherently uncertain and are inherently subject to risks, variability and contingencies, many of which are beyond AON’s control. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: the incurrence of significant costs in connection with being a public company, including unexpected costs or expenses; potential litigation relating to the business combination; litigation and regulatory proceedings relating to our business; our ability to make continued investments in oncology practices and affiliated care providers; risks related to the complexity of the reimbursement process for our network practices and our dependence on reimbursement from third-party payors, which could lead to delays, denials, or uncertainties in the reimbursement process; our ability to maintain the listing of the AON Class A Common Stock and AON Warrants on Nasdaq; our ability to maintain an effective system of internal controls over financial reporting and remediate material weaknesses; and other factors detailed under the section entitled “Risk Factors” in the filings we make with the Securities and Exchange Commission and our annual and quarterly reports.
AON cautions that the foregoing list of factors is not exclusive or exhaustive and investors should not place undue reliance upon any forward-looking statements, including projections, which speak only as of the date made. If any of these risks materialize or AON’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that AON does not presently know or that AON currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect AON’s expectations, plans or forecasts of future events and views as of the date of this communication. AON anticipates that subsequent events and developments will cause AON’s assessments to change. However, while AON may elect to update these forward-looking statements at some point in the future, AON specifically disclaims any obligation to do so, unless required by applicable law. These forward-looking statements should not be relied upon as representing AON’s assessments as of any date subsequent to the date of this
communication. AON gives no assurance that AON will achieve its expectations. Accordingly, undue reliance should not be placed upon the forward-looking statements.
SIGNATURE
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.
| Dated: April 1, 2024 | ||||||||
| AMERICAN ONCOLOGY NETWORK, INC. | ||||||||
| By: | /s/ Todd Schonherz | |||||||
| Name: | Todd Schonherz | |||||||
| Title: | Chief Executive Officer | |||||||
Contact for more information:
Partnerships Team
Meaningful Insights Biotech Analytics
partnerships@mibanalytics.com
MiBA: A New Era in Data-Driven Oncology Insights for a Healthier Tomorrow
The innovative healthcare technology startup utilizes data analytics to improve cancer care.
TAMPA, Florida., April 1, 2024 — Meaningful Insights Biotech Analytics (MiBA), an innovative healthcare technology company, is pleased to announce its official launch today and its commitment to transforming oncology, research and patient care. MiBA’s debut marks the successful synergistic partnership between industry leaders American Oncology Network (AON) (Nasdaq: AONC) and Ascend Technologies Group (ATG). The company is led by a team of industry visionaries: Todd Schonherz, Mark Moch, Jason Baroff, Scott Newman and Andrew T. Fisher, who collectively bring years of experience in technology, data science and oncology.
MiBA's sophisticated platform empowers decision-makers throughout healthcare — physicians, health systems, biopharmaceutical companies and payers — with the data and tools necessary to accelerate research, optimize risk evaluation and reduce costs, enabling more accurate diagnoses and personalized treatment plans. These capabilities are integral components of MiBA's comprehensive suite of services, reflecting its commitment to advancing healthcare insights on a broader scale.
Leveraging the combined strengths and expertise of AON and ATG, MiBA has gained the tools necessary to deliver its data-driven solutions. Specializing in navigating the complexities of oncology data, MiBA curates and applies advanced artificial intelligence (AI) technologies to extract meaningful insights accelerating advances in cancer care and patient outcomes. “Real world oncology data from the community is vast, complex, impactful but largely unexplored. MiBA is using cutting-edge AI approaches including natural language processing and large language models to unlock hidden insights from hundreds of thousands of oncology patients,” said Scott Newman, PhD, senior vice president of life sciences at MiBA.
"In the realm of cancer care, timely and accurate information is paramount for physicians to make informed health decisions on behalf of their patients, and our role in community oncology and AON is ensuring patients have access to the personalized care they require for their diagnoses," said Todd Schonherz, chief executive officer at AON. “By leveraging the precision insights generated by MiBA, we are paving the way for more personalized and effective treatments, which ultimately benefits patients and lays the foundation that will propel the industry forward and its approach to patient care.”
“We believe in the power of data insights to guide today’s clinical decisions and illuminate the path towards tomorrow’s cures,” said Jason Baroff, managing partner at ATG. “We are honored to be powering the technology platform for precision insights. The platform is not just about innovation for its own sake; it’s a beacon of hope for patients worldwide.”
MiBA’s platform is comprehensive, with longitudinal data sourced from electronic medical record applications, clinical lab and pathology services, specialty pharmacy, practice management, diagnostic imaging, and next generation sequencing. Spanning over 25 community oncology practices across 20 states, and major growth plans to incorporate additional community oncology data sources, MiBA is poised to make significant contributions to oncology care. The company invites partners, healthcare professionals and the broader community to join in its journey towards harnessing the full potential of data-driven insights in the battle against cancer.
For practices looking to unlock and leverage their data assets to enhance clinical efficiency and productivity or for more information about MiBA and its services, visit www.mibanalytics.com.
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About Meaningful Insights Biotech Analytics
MiBA is a healthcare AI technology company on a mission to close the feedback loop between physicians, patients, and industry partners. The technology and data insights that MiBA generates will support pharmaceutical companies, research organizations, payers, biotech, health systems and providers to advance the quality of patient care. Learn more at mibanalytics.com.
About American Oncology Network
American Oncology Network (AON) (Nasdaq: AONC) is an alliance of physicians and seasoned healthcare leaders partnering to ensure the long-term success and viability of community oncology and other specialties. Founded in 2018, AON's rapidly expanding network represents more than 220 providers practicing across 20 states. AON pioneers innovative healthcare solutions through its physician-led model, fostering value-based care that improves patient outcomes while reducing costs and expanding access to quality care. AON equips its network physicians with the tools they need to thrive independently while providing comprehensive support, integrated revenue-diversifying ancillary services, and practice management expertise, enabling physicians to focus on what matters most – providing the highest standard of care for every patient. AON is committed to promoting health equity by addressing disparities in cancer care and ensuring that all patients have access to the care they need to achieve optimal health outcomes. With a focus on innovation and collaboration, AON is shaping the future of community oncology. Learn more at www.AONcology.com.
About Ascend Technologies Group
Ascend Technologies Group (ATG) is a services and consulting company with a focus on improvement of outcomes for the end user. ATG layers its Cloud and Informatics practices on top of a robust portfolio of managed services, with a passion for bettering the patient experience, to deliver a diverse array of capabilities and areas of expertise in Healthcare IT. Learn more at ascenditgroup.com.