Toronto, Ontario, Canada
May 1st, 2018
Toronto, Ontario, May 1, 2018 – NEXGENRX INC. (“NexgenRx” or the “Company”, TSX-V: NXG) is pleased to announce that it has signed an exclusive agreement with CannTrust Inc. (“CannTrust®“), one of Canada’s leading licensed producers of medical cannabis and a wholly-owned subsidiary of CannTrust Holdings Inc. (“CannTrust”, TSX: TRST), to create a simple, seamless ordering process for NexgenRx plan members. The agreement is for an initial five (5) year renewable term.
CannTrust® offers NexgenRx plan sponsors and plan members (i.e.patients) the broadest range of industry leading, high quality, standardized medical cannabis products. CannTrust®®, a pharmacist-led, innovative organization, continues to develop new formats to deliver safe and convenient dosage forms for its patients. With the recent launch of CannTrust®‘s hard shell vegan capsules, patients now have multiple safe and easy-to-administer familiar dosage formats of medical cannabis.
NexgenRx will be offering plan sponsors who desire access to these products for their plan members a physician controlled, prescription process. With this agreement, NexgenRx plan members will now be able to order their medical cannabis products from CannTrust® and have a portion of their prescription covered, calculated and applied in real-time by their health care benefits plan. NexgenRx’s compliance tracking and a sophisticated drug utilization review (DUR) process will provide clinical scrutiny as part of the adjudication approval process. At check-out, NexgenRx plan members will only be required to pay the amount not covered by their plan. This real-time adjudication creates a smooth and convenient process for patients, a first of its kind for the medical cannabis market.
“We are delighted to be aligned with CannTrust®, along with their experienced management team made up of pharmacists, physicians, nurses and clinicians. Together we lead the group benefits market in recognizing the changing needs of plan sponsors and their members with regards to medical cannabis and will be offering access to standardized cannabis products to members of plan sponsors who request this coverage.” said Ron Loucks, President & CEO of NexgenRx.
“CannTrust® is focused on providing high quality products and service to our patients. Having a real time adjudication process will make it easier and more convenient for NexgenRx plan members to purchase medical cannabis, while maintaining the integrity of health care plans. We chose to partner with NexgenRx because they are a strong technology solutions provider, representing plan sponsors and hundreds of thousands of their members. We will be offering NexgenRx plan members a seamless experience when purchasing medical cannabis” said Brad Rogers, President of CannTrust®.
NexgenRx is Canada’s only independent full service claims adjudicator with full front end administration capability. These combined capabilities allow NexgenRx to provide complete solutions to plan sponsors that need sophisticated health benefit technology applications in a cost- effective manner. NexgenRx is committed to building partnerships with organizations looking to exceed the expectations of their clients and deliver superior administration and claims processing solutions at a competitive cost. More information on NexgenRx can be found at www.nexgenrx.com.
CannTrust® is a federally regulated licensed producer of medical cannabis who brings more than 40 years of pharmacy and healthcare experience to the industry. CannTrust® applies this expertise to produce standardized medical cannabis at its two state-of-the-art facilities located in Ontario. More information on CannTrust can be found at www.canntrust.ca.
Caution Regarding Forward-Looking Statements
Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: uncertainty as to whether our strategies and business plans will yield the expected benefits; availability and cost of capital; the ability to identify and develop and achieve commercial success for existing and new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; continued development and enhancement of the Company‘s proprietary software technology; cyber security risks and the other risks and uncertainties disclosed in our annual Management‘s Discussion and Analysis, as filed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
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FOR FURTHER INFORMATION ABOUT NEXGENRX PLEASE CONTACT:
Ronald C. Loucks
President and CEO
Kelly Ehler CA
Chief Financial Officer