CB2 Insights (CSE:CBII; OTCQB: CBIIF) (“CB2” or the “Company”), has
announced that it has officially launched its newest division
Skylight Health Group (“SHG”) as part of its clinical operations in
the United States. SHG will immediately provide a range of
integrated health services from primary medical care, to
consultative specialist care, alternative health, wellness &
multi-disciplinary services and products to its growing patient
population. SHG services are reimbursable in accordance with the
rules, regulations and requirements by the Centers for Medicare and
Medicaid Services (“CMS”), as well as other private health insurers
within each operating state where its physicians, practitioners and
patients will be able to enjoy the benefits of an expanded service
offering. Under most insurance models, patients typically pay a
nominal co-pay amount, however most of the cost of the visit is
covered by the health insurer. This structure means the Company can
expand its services to patients at limited to no-cost to the
patient directly. The primary focus of the SHG will be to provide a
broad array of primary and alternative healthcare services
including family/specialty medicine and interdisciplinary services
focusing on comprehensive care, chronic disease management and
health promotion/education.
“Skylight Health Group will be a substantial addition to our
existing methodology of treating patients holistically, with an
integrative patient-centric approach to support their overall
health outcome goals,” said Prad Sekar, CEO, CB2 Insights.
“Building on our current infrastructure of existing clinics,
patient base and clinical team, we will introduce the SHG model
over the next 12 months into each of our current locations,
starting with Maine, Massachusetts and Pennsylvania. Integrative
Health is a rapidly growing, multi-billion dollar industry and our
goal has always been to understand how various traditional and
complementary alternative medical treatments intersect to have a
positive improvement on patient health.”
CB2 Insights currently has over 30 clinical locations in 12
states and employs a clinical team of more than 150 clinical staff
and medical professionals. With over 100K patients seen a year and
over 500K patients evaluated since 2013, SHG aims to become a
leader in Integrative Medical Services nationwide. With a broad,
established infrastructure, the Company is able to launch the new
division with very little investment, thus remaining committed to
strengthening its cash position from revenue from operations with a
goal of near-term profitability by Q2. Revenue from SHG will be in
addition to the current clinical operations and will expect to
match and surpass such revenue in the coming years. SHG
contribution of positive cash flow will support capital to invest
in growth.
Sekar continued, “Today marks a hallmark moment for us as an
organization as it is a testament to where we have come from, and
where we are building towards. Both my co-founder, Kash Qureshi and
I have spent the last 15 years owning and operating large,
multi-speciality health practices across multiple disciplines and
we are proud to now integrate that experience further into CB2. For
over 5 years, we as an organization have been helping patients
navigate their health journey through a collaborative approach. Our
openness to alternative treatments, namely medical cannabis, has
demonstrated our ability and willingness to work outside
conventional treatments to support improvements in patient outcomes
in an ever-evolving medical sector.”
The Integrative Medical market in the US is reported to be
around $18B with a strong growth trajectory forecasted over the
next 10 years. Further, insurable services through the CMS, are
expected to reach $6T by 2027, according to a report on National
Health Expenditures by the CMS. This illustrates strong support for
future healthcare funding of which CB2 Insights will benefit from
by provisioning qualifiing services to its growing patient
base.
In addition to the launch of services within SHG, the new
division will also place a strong focus on research and clinical
trials. There are over 8K active clinical trials in progress in the
United States with leading academic institutions, pharmaceutical
and biotech companies. Expansion into traditional healthcare
services enables the Company to actively participate in these
trials, leading to increased revenues and credibility as a Contract
Research Organization.
More information can be found on www.skylight.health. The
Company looks forward to continuing to expand on its services to
patients, growing its patient base, and making a significant
improvement in the overall health and well being of patients across
the US.
About CB2 Insights
CB2 Insights (CSE:CBII) is a global leader in clinical
operations, technology & analytics solutions and research and
development services with a mission to understand the intersection
between traditional and alternative medical practices. Providing
immediate market access through its wholly-owned clinical network
across 12 jurisdictions, proprietary data-driven technology
solutions and comprehensive contract research services designed for
those in both the medical cannabis and traditional life sciences
industries, CB2 Insights is able to support its partners across the
entire data and research spectrum.
CB2’s Clinical Operations business unit leverages extensive
experience to develop clinical models with standard operating
procedures, advanced workflows, training and ongoing management
support. CB2 also owns and operates its own specialty clinics
including the brands Skylight Health Group, Canna Care Docs and
Relaxed Clarity which assess nearly 100,000 patients seeking
integrative medical care, and immediate market access to US-based
product manufacturers for clinical trial and research programs.
The Company has built analytical models using Real-World Data
and Evidence to support the understanding of Safety, Efficacy and
Dosing for alterative treatment therapies including medical
cannabis for use by health care practitioners, regulatory bodies,
researchers and other manufacturing partners to execute their data
and clinical strategies.
CB2 also offers comprehensive contract research organization
(CRO) services including full scale clinical trial management,
trial design, monitoring and other key research functions used by
licensed producers, multi-state operators and traditional
pharmaceutical companies.
For more information please visit www.cb2insights.com.
For additional information, please contact:
Investor Relations Department1.855.847.4999
ext. 212investors@cb2insights.com
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 opportunity to provide services and
software to the U.S. cannabis industry.
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.
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