Alternate Health Corp (“Alternate Health” or the “Company”) (CSE:AHG) (OTCQB:AHGIF), an international corporation that provides software solutions for the medical cannabis industry, today announced that the Company has entered into a software-as-a-service agreement with MedMen, one of the largest cannabis companies in the U.S., to provide e-commerce and digital payment services. Alternate Health’s StatePass system will begin beta testing with MedMen in their New York dispensaries.
“We are very pleased to be working with MedMen as Alternate Health expands into another key state in the U.S. market,” said Dr. Michael Murphy, Chairman and CEO of Alternate Health. “The implementation of CanaPass in Canada as well as beta testing in Florida have seen overwhelmingly positive response from our customers and we look forward to serving the medical cannabis community in New York with our state-of-the-art system.”
The StatePass system is a cloud-based software platform that manages the end-to-end transactions involved in providing safe access to medical cannabis to eligible patients. The database is accessible by the patient, certified doctors and licensed dispensaries, linked through a seamless interface, and is used to monitor the individual patient and provide enhanced treatment recommendations, with a focus on improving patient outcomes.
“Alternate Health’s agreement with MedMen is perfectly aligned with our goal of bringing best-in-class software solutions to the medical cannabis market,” said Jay Briggs, Vice President of Operations of Alternate Health. “This is an exciting opportunity to work side-by-side with another leading company in the cannabis industry and open up new revenue streams in New York’s tremendously promising market.”
MedMen is headquartered in Culver City, California and operates dispensaries and production facilities in three states, including their soon to open flagship location on Fifth Avenue in Manhattan, NY. MedMen has been recognized as a leader in the cannabis industry and recently announced their intention to go public, with a listing on the Canadian Securities Exchange planned for the second quarter of 2018.
StatePass is the U.S. equivalent of Alternate Health’s cornerstone CanaPass Cannabis Compliance technology. Alternate Health’s CanaPass system is currently live nationwide in Canada through a partnership with National Access Cannabis (‘NAC’), Canada’s largest chain of medical cannabis clinics. Listed on the TSX Venture Exchange, NAC is currently expanding into recreational markets. CanaPass will launch its recreational adaptation in all future NAC recreational locations. Alternate Health’s agreement with MedMen to use StatePass is based on a fee calculated as a percent of total transactions made in the system and has been established for an initial period of 6 months with an automatic renewal period of 1 year unless either party opts to terminate.
About Alternate Health Corp.
Alternate Health Corp. (CSE: AHG, OTCQB: AHGIF) Alternate Health has established multiple arms-length operations within the medical cannabis industry, each of which drives consumers, data and strategic opportunities to the company’s other verticals. This sophisticated cross-integration of the company’s enterprises has positioned Alternate Health as one of the only cannabis companies that delivers consistent revenue and intellectual property without growing, manufacturing or distributing the cannabis plant. Through its software solutions, data analytics, and patented delivery systems, Alternate Health’s goal is to be the global authority on scientific and clinical support for cannabis in regulated markets. Alternate Health is well positioned to reinvest internal operating cash flow in its platform over the long term, creating an attractive investment profile for its shareholders.
Alternate Health resides in the cannabis sector along with companies like GW Pharmaceuticals, AXIM Biotechnologies Inc., Canopy Growth Corporation, and Aphria Inc. Alternate Health is differentiated from other cannabis companies by its focus on ancillary services for patients, healthcare professionals and regulatory providers rather than selling a commodity. For more information about Alternate Health Corp., visit www.alternatehealth.ca.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations, business prospects and financing plans, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward looking statements.
SOURCE Alternate Health Corp.