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CBII - CB2 Insights Inc News Story

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Sector
Technology
Size
Micro Cap
Market Cap £31.4m
Enterprise Value £31.9m
Revenue £8.07m
Position in Universe 905th / 2690

CB2 Insights Partners with the Freas Medical Advisors to Expand Healthcare Services in Maryland

Wed 26th August, 2020 12:00pm
CB2 Insights Partners with the Freas Medical Advisors to Expand Healthcare Services in Maryland
  • Freas Medical Advisors bring over 40 years of healthcare experience in the US through a network of healthcare facilities including pain management and nursing home centers
  • CB2 Insights currently provides medical services to patients in Maryland through virtual telehealth and physical clinics through its Skylight Health Direct Primary Care (“DPC”) offering
  • Partnering with FMA will accelerate CB2’s growth in Maryland through affiliated healthcare networks representing thousands of patients
  • FMA is seeking ways to further expand its relationship with CB2 across other US States

TORONTO, Aug. 26, 2020 (GLOBE NEWSWIRE) -- CB2 Insights (CSE:CBII; OTCQB: CBIIF) (“CB2” or the “Company”), announced today that it has entered into a Business Services Agreement with the Freas Medical Advisors (“FMA”) to expand medical services in Maryland. FMA is also investigating geographic expansion of its relationship with CB2 across other US States.

As part of CB2’s Direct Primary Care services (“DPC”), patients pay an annual fee of $199 per year for unlimited access to a network of healthcare providers for a range of primary care and urgent care needs. Additionally, the Company offers additional insurable services on a fee for service basis. In partnership with FMA, CB2 will benefit from direct access to a network of pain management, general healthcare, and nursing home facilities servicing thousands of patients per year, seeking complementary healthcare offerings.

FMA represents a team of healthcare entrepreneurs who bring over 40 years of experience in business and US healthcare operations. With strong ties to regulatory bodies within Maryland, the FMA network of practices include Novus Pain Management Center and Flagship Rehabilitation, among others. In addition to building a strong patient referral network, FMA will leverage its connections, network, and resources to help build and maintain a strong business model for CB2 in Maryland.

In coordination with this partnership, Dr. Haroon Hameed will take the role of Medical Director for Maryland for CB2’s medical services business. Dr. Hameed is a board-certified Physical Medicine and Rehabilitation doctor with over 7 years as an Interventional Pain Specialist in Florida, Maryland, and Virginia. In addition to supporting clinical efforts, Dr. Hameed will also play a critical role in supporting CB2’s research initiatives in Maryland and has co-authored a number of peer-reviewed publications to date.

“We are beyond excited to be working with FMA in Maryland. It is one of the leading healthcare groups in the state and greatly accelerates CB2’s growth therein. Its strong ties to community healthcare networks, regulatory bodies and proven business acumen are going to significantly help in CB2’s strategy to become a leader in US integrative healthcare. We are hopeful that this partnership model in Maryland can be replicated across the other 11 states in which CB2 operates.” said Prad Sekar, CEO, CB2 Insights.

“The FMA has been active in the US healthcare space for over 40 years. Our goal is to continue to build new innovative healthcare models that will help the overall improvement of patient health outcomes. What CB2 is offering with its unique DPC and insurable services model, coupled with their approach to integrative healthcare and alternative therapies aligns well with what we believe will be a key driver in the post-COVID US healthcare environment, and we are looking forward to actively building on this vision with them,” said Dustin Freas, Executive Director, Freas Medical Advisors.

About CB2 Insights

CB2 Insights (CSE:CBII OTCQB:CBIIF) CB2 Insights is a healthcare services and technology company, working to positively impact patient health outcomes. Our mission to mainstream alternative health treatments into traditional healthcare by recognizing the need for patient treatment diversity, and the impacts of integrating alternative and conventional medicine. The Company works primarily to roster and treat patients who are seeking alternative treatments due to the ineffectiveness of conventional medicine, and the inability to find support through their existing care network, or in some cases, inability to access a primary care network. Medical services offered by the Company are defined as Integrative medicine, where we work to understand the real world evidence for the safety, impact and effectiveness of medical treatments including plant based medicines that often lack sufficient research and therefore adoption by conventional healthcare providers.

To support patient care and positive health outcomes, the Company is also focused on advancing safety and efficacy research surrounding alternative health treatments by monitoring and assessing Real-World Data (RWD) and providing Real-World Evidence (RWE) through our proprietary technology, data analytics, and a full service contract research organization.

The Company’s primary operations are in the United States, with application to its insights, technology and research services deployed in other International markets including Canada, United Kingdom and Colombia.

The Company’s disciplined operating model allows patients to receive access to care in a time efficient and cost-effective manner. Utilizing virtual telehealth and over 30 physical brick and mortar clinics, the Company currently treats over 100,000 patients across 12 States. Utilizing proprietary technology and data analytic platforms, the Company is able to monitor, study and assess a variety of healthcare treatments and products for the safety, efficacy, and effectiveness. The Company believes it is well positioned to be the research and technology partner of choice for multiple stakeholders including Big Pharma, Life Sciences, Regulatory Bodies and Payors within the traditional and integrative medical industry.

Forward Looking Statements

Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in CB2’s filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should," and similar expressions, are forward-looking statements.

Forward-looking statements may include, without limitation, statements regarding the Company’s unaudited financial results and projected growth.

Although CB2 has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are subject to inconsistent legislation and regulation; change in laws; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and recreational-use marijuana industry and; regulatory or political change.

There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.

Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. CB2 disclaims any intention or obligation to update or revise such information, except as required by applicable law, and CB2 does not assume any liability for disclosure relating to any other company mentioned herein.

No securities regulator or exchange has reviewed, approved, disapproved, or accepts responsibility for the content of this news release.

For more information please visit www.cb2insights.com or contact:

Investor Relations
Jonathan L. Robinson
Oak Hill Financial
jrobinson@oakhillfinancial.ca
416-669-1001

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