Legal marijuana revenue is expected to soar 145% by 2021, jumping from $10 billion last year to $24.5 billion. Investors who act quickly can still get in early on this industry’s stunning growth potential. The $10 billion that the legal cannabis industry generated in 2017 is just the tip of the iceberg. One prediction puts legal sales at $75 billion by 2030.
One company that has caught our attention and we’re very excited to present you today is Premier Health Group, Inc. Premier is developing innovative healthcare approaches that combine human skill-based expertise with emerging technologies. Where the cannabis industry could come into play is with the company subsidiary HealthVue.
Premier Health Group Inc. Provides Update on Expansion Into Cannabis Clinic for Patients
PHGRF is pleased to announce an update on its plan to expand the scope of practice within its primary care clinics to include cannabis. The Company has engaged discussions with Licensed Producers under the Access to Cannabis for Medical Purposes Regulation (ACMPR), other licensed medical cannabis companies and government officials in order to establish a framework for both patient and physician education.
“With over 110,000 active patients in our clinic ecosystem it is important that we provide them with the best possible information that allows them to make informed decisions about their personal and family’s health. Providing our family physicians with the appropriate tools and knowledge to prescribe cannabis or with the ability to refer patients to a specialist within our clinics is a key outcome of this initiative,” said Dr. Essam Hamza , CEO of Premier.
Furthermore, the Company is actively recruiting additional physicians for its existing clinics and a cannabis focussed physician that is licensed in Canada. Read News.
Here’s where it gets interesting…
1. The Canadian retail pharmacy market is estimated to be $44 billion (Source: IBISWorld). It is expected the industry sector will continue to allow for favorable economics for pharmacy operators as baby boomer’s demand increases for prescriptions and operators to expand the scope of practice to include preventative services.
2. The Canadian medical cannabis clinic market is estimated to be worth approximately $2.35 billion by 2025.
If these two facts weren’t enough, there is also a MAJOR Cross Over in Canada that connects medical cannabis & retail pharmacies. For some reason, news outlets aren’t paying attention to it right now either.
The crossover: Canadian pharmacies are fully behind medical marijuana too! Shoppers, Lovell Drugs and PharmaChoice have all signed supply deals with leading cannabis producers in Canada. Their pending entry into the medical cannabis market comes as the number of registered MMJ patients is soaring.
Premier Health Announces Binding LOI to Acquire Operating Pharmacy
The company is pleased to announce that as a part of its growth strategy to cover the major verticals associated with primary care, it has signed a binding Letter of Intent (“LOI”) to acquire a Vancouver, British Columbia based pharmacy. The Company expects the acquisition to close in or about Q1-19.
“We are excited for this opportunity to acquire our first pharmacy, and thereafter being able to prepare and deliver prescription and non-prescription pharmaceuticals and other health products to patients. In doing so, the pharmacist will play an integral role in our team-based patient centric model,” said Dr. Essam Hamza, CEO of Premier. “Premier has engaged with patients, pharmacies and technology providers to not only introduce pharmacy services as a component of our comprehensive telemedicine app, but also to explore and implement efficiencies in fill and fulfillment.”
Under the terms of the LOI, the total consideration payable by Premier is $1,350,000, which will be paid as follows: (i) $200,000 deposit paid on signing of the LOI, (ii) $350,000 due on signing of a definitive agreement, (iii) $650,000 due on closing, (iii) $150,000 due six (6) months after closing.
The acquisition is subject to customary closing conditions, including execution of a definitive acquisition agreement and receipt of any required regulatory and stock exchange approvals. Read News.
PHGRF Featured by MarijuanaStocks.com Among The Top Cannabis Investment Newsletters. Special Connect The DotsReport!
A company in Canada is changing the paradigm for providing healthcare in Canada and potentially elsewhere by integrating technology and artificial intelligence. Medical costs continue to spiral up in Canada, and an aging population puts greater demands on the medical system. At the same time, the country is facing a shortage of primary care doctors and nurses, with rural areas being especially hard hit.
Premier Health Group is working to find solutions to these challenges by combining human expertise with emerging technologies such as telemedicine and artificial intelligence. This summer, Premier Health acquired HealthVue, an operator of four high-tech clinics with 110,000 patients in British Columbia, for CA$1 million in cash and CA$3 million in Premier Health common shares. Dr. Essam Hamza, founder of HealthVue, has become Premier’s CEO. He has long championed the use of telemedicine for his patients.
“The present system is inefficient and unsustainable,” Dr. Hamza told Streetwise Reports. “Some 39% of emergency room visits, which are very expensive, could be prevented if patients had better access to primary care.”
“We are developing an app that uses artificial intelligence to triage patients and uses telemedicine to connect medical personnel with the patient,” Dr. Hamza explained.
Breaking News: Premier Health Announces Binding LOI to Acquire Cloud Practice Inc., a National Medical Software Application Company
The company is pleased to announce that as a part of its technology platform, it has signed a binding LOI to acquire all of the outstanding securities of Cloud Practice Inc. (“Cloud Practice”).
Dr. Essam Hamza, CEO of Premier Health, said: “We are ecstatic at the opportunity to build on our patient centric technology platform through the integration of Cloud Practice’s suite of software solutions. They have a strong team of developers who are just as enthusiastic as we are about the future of healthcare. We believe that this partnership will help facilitate our vision of integrating telemedicine, online booking and other premium services with our electronic medical record (EMR) system.”
Dr. Essam continued: “Cloud Practice already has a tremendous standalone and growing business serving thousands of clinicians and millions of patients. The collective ecosystem of over 3,000,000 patients creates an opportunity to become a key player in the telehealth space in Canada.” Read News.
Getting into the Canadian Pharmacy & Drug Store Market…
The company is pleased to announce that as a part of its expansion plans it will enter the Pharmacy market via acquisition and/or launching a new Canada based pharmacy in H1-2019. “Pharmacy is a critical component in our commitment to providing patients with best in class primary care that is accessible and efficient in its delivery. Having the ability to prepare and deliver prescription and non-prescription pharmaceuticals and other health products to patients with ease, and having it as a part of our comprehensive technology solution for primary care, is something we are very excited to roll-out to patients,” said Dr. Essam Hamza, CEO of Premier.