Premier Health Announces International Medical Cannabis Expansion Strategy
VANCOUVER, British Columbia, April 11, 2019 (GLOBE NEWSWIRE) -- Premier Health Group Inc. (CSE: PHGI, OTCQB: PHGRF, Frankfurt: 6PH) (the “Company” or “Premier Health”), a Company focused on developing innovative approaches that combine human skill based expertise with emerging technologies for the healthcare industry, is pleased to announce the launch of an international expansion strategy to broaden its reach through its medical cannabis initiatives. As more countries legalize medical cannabis, Premier Health will be focusing on selling its comprehensive Electronic Medical Record (EMR) platform with medical cannabis software integration for education, decision support, and the prescription of medical cannabis to fast-growing markets in countries such as the US, the UK and Australia.
The legalization of medical cannabis is projected to boost the demand for cannabis for medical use as a substitute for traditional medicines. Approximately 30 countries have already legalized medical cannabis in some capacity, as well as a small handful of others that allow its use within strict guidelines, such as in the form of cannabis-derived pharmaceuticals. According to a report by Zion Market Research, the global medical cannabis market was valued at approximately USD $11.8 billion in 2017 and is expected to generate revenue of around USD $40.9 billion by the end of 2024. In addition, according to P&S Market Research, the global EMR market is projected to attain a size of $30.4 billion by 2023.
The role of cannabis in treating medical conditions is continuously expanding to help patients with acute and chronic symptoms. Currently, there is a critical gap between the patient's need for medical cannabis, and the physician’s comfort and knowledge to prescribe it. This knowledge gap is even more widespread in countries that are behind Canada in its adoption of medical cannabis. In addition, research into the safety and efficacy of cannabis has traditionally been very difficult. Premier Health is looking to fill that gap by using clinically led, evidence-based data which will be embedded directly in the Company’s EMR software to help guide doctors to the appropriate medical cannabis product and dosing. The software will be further tailored to the regulatory and approval procedures associated with the different jurisdictions.
With the increasing awareness and demand from patients around the use of medical cannabis, we are aiming to provide the best possible information and appropriate tools to physicians so they can make informed decisions about their patients’ health
said Dr. Essam Hamza, CEO of Premier Health.
As a pioneer in the space, Canada is at the forefront of this changing landscape. Our focus will be to bring credible physician-backed cannabis education to primary care physicians, where knowing your patient is an essential element of practice. Additionally, by innovating and integrating these increasingly in demand capabilities, Premier Health will be equipped to significantly increase its market share of the $30 billion EMR market
In order to gain traction in various jurisdictions, the Company will be leveraging existing global relationships and will provide further updates in Q3-19.
ON BEHALF OF THE BOARD OF DIRECTORS
“Dr. Essam Hamza, MD"
Chief Executive Officer
Premier Health is a Canadian company that is strategically poised to take advantage of business opportunities in the global health care industry. We are focused on innovative health care approaches that combine human skill-based expertise with emerging technologies. Premier Health, in conjunction with its subsidiary Cloud Practice, a cloud-based SAAS Electronic Medical Records software company, is developing proprietary technology to deliver quality healthcare through the combination of connected primary care clinics with telemedicine and artificial intelligence (AI). We currently have a combined ecosystem of 290 clinics, over 3000 licensed practitioners and almost 3 million registered patients. The Premier Health team has deep clinical, operational and financial expertise and a passion for improving healthcare for all patients.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.