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Mednow, a leader in virtual pharmacy services, has partnered with Prudent Benefits Administration Services, Inc. (PBAS), a major Canadian third-party administrator, to enhance healthcare access for PBAS clients and members. This partnership will allow over 200,000 Canadians to utilize Mednow's full range of digital healthcare solutions, including online prescriptions and medication delivery services. The initial focus will be on PBAS's student clientele, serving around 30,000 students across Canada, who are identified as ideal users of virtual pharmacy services due to their tech-savviness. The partnership is set to commence in May 2023.
Positive
Partnership with PBAS expected to provide services to over 200,000 Canadians.
Targeting over 30,000 post-secondary students with virtual pharmacy offerings.
Focus on enhancing user experience through digital healthcare solutions.
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Mednow to become the preferred virtual pharmacy partner for participating PBAS clients and their members.
Prudent Benefits Administration Services, Inc. (“PBAS”) is a leading third-party administrator that delivers comprehensive benefits administration services to over 200,000 Canadians
Mednow will become the preferred virtual pharmacy partner for PBAS clients
PBAS benefit plans will have access to Mednow's full range of healthcare solutions, including online prescriptions, medication ordering/fulfilment/delivery, and more
TORONTO--(BUSINESS WIRE)--
Mednow Inc. (“Mednow” or the “Company”) (TSXV: MNOW) (OTCQX: MDNWF), Canada’s on-demand virtual pharmacy, is announcing a new partnership with Prudent Benefits Administration Services, Inc. (“PBAS”), a leading third-party administrator that delivers comprehensive benefits administration services to over 200,000 Canadians. The partnership will provide Mednow's digital pharmacy and healthcare platform to participating PBAS clients and their members, part of Mednow's efforts to expand its Mednow for Business offering to large groups seeking a cost-effective and patient- centred healthcare platform with a focus on digital, private, and on-going pharmacy and healthcare services.
Mednow will become the preferred virtual pharmacy partner for participating PBAS clients, with the partnership's initial focus on PBAS’s student business, which serves over 30,000 post-secondary students across Canada. "Students are a prime candidate for virtual pharmacy services because they are both tech-savvy and always on the go," said Mednow's Chief Revenue Officer, David Marantz. The partnership aims to help students access their medications and health information securely and privately without having to leave campus or disrupt their busy schedules.
“Mednow is committed to providing Canadians with convenient and affordable access to healthcare services,” said Mednow's CEO, Ali Reyhany. “Our partnership with PBAS is a testament to that commitment.” Peter O’Hara, PBAS’s Vice-President and head of its benefits administration business, added: “At PBAS, our goal is simple: provide innovative, best-in-class benefit solutions that make a meaningful difference in plan members’ health and well-being. Mednow’s virtual pharmacy offering checks off each of those boxes.”
Under the terms of the partnership, members of participating PBAS benefit plans will have access to Mednow's full range of healthcare solutions, including online prescriptions, medication ordering/fulfilment/delivery, and more. By leveraging Mednow's technology and expertise, PBAS aims to provide its clients with a seamless, efficient, personalized healthcare experience.
The partnership between Mednow and PBAS will take effect in May 2023, with members being able to access Mednow's pharmacy and healthcare services through their existing benefits plans. This partnership is an exciting development for both companies, whose shared goal is to improve the quality and accessibility of healthcare for Canadians.
About PBAS
PBAS is a national pensions and benefits consulting and third-party administration firm that provides tailored solutions to sponsors of various benefit programs, including pension, health, group life, disability, dental, wellness, and more. Specializing in multi-employer benefit trusts, PBAS provides comprehensive administration services to plan sponsors and their members, customizing its service offering to each client's unique needs.
Mednow is a healthcare technology company offering virtual access with exceptional care. Designed with access and quality care in mind, Mednow provides virtual pharmacy and telemedicine services, as well as doctor home visits, with convenience and through an interdisciplinary healthcare approach focused on the patient experience. Mednow’s services include free at-home delivery of medications, a user-friendly interface for easy upload, transfer and refill of prescriptions, access to healthcare professionals through an intuitive chat experience, a specialized PillSmart™ system that packages medications and vitamins by date and time, and doctor consultations.
To learn more, follow Mednow on Facebook, Twitter, LinkedIn and Instagram, and visit mednow.ca.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including without limitation, that Mednow expects to operate in regions in Canada other than BC and ON by way of Preferred Pharmacy Partners and franchisees; that Mednow expects to collect technology fees from participating pharmacies in its preferred pharmacy network, Mednow for Business has a pipeline of groups which are expected to be launched in the coming months and that Mednow Pharmacists are expected to perform an in-home medication review and medication cabinet cleanup for eligible housebound patients under the Ontario Drug benefits program are forward-looking statement and contains forward-looking information.
Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including that Mednow will operate in regions in Canada other than BC and ON by way of Preferred Pharmacy Partners and franchisees; Mednow will collect technology fees from participating pharmacies in its preferred pharmacy network, Mednow for Business has a pipeline of groups which will be launched in the coming months and Mednow Pharmacists will perform an in-home medication review and medication cabinet cleanup for eligible housebound patients under the Ontario Drug Benefits Program.
These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation that Mednow will not operate in regions in Canada other than BC and ON by ways of Preferred Pharmacy Partners and franchise or at all; Mednow will not be successful in collecting technology fees from participating pharmacies in its preferred pharmacy network, Mednow for Business’ pipeline of groups will not be successfully launched in the coming months or at all, Mednow Pharmacists will not perform an in-home medication review and medication cabinet cleanup under the Ontario Drug Benefits Program and the risk factors discussed or referred to in the Company’s disclosure documents under the Company’s profile at www.sedar.com
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
