The marijuana industry has been consistently volatile over the course of the last few weeks, as has been the trend for other sectors in the market as well. Perhaps the market has simply lost focus due to significant media attention being given to the various happenings around the world, or maybe investors are anticipating a major breakthrough from one of the many industries involved in the market. Cannabis producers, in the Canadian space, are now at the one-month mark for the legalization of recreational use in their country, and amidst supply shortages and strict regulations, many are concerned for the future of the space.
Khurram Malik, CEO of the Ontario-based cannabis company Biome Grow Inc (CSE: BIO), is one of several cannabis industry executives who share these concerns:
“The rules here are so difficult to grow cannabis — quite frankly more difficult than anywhere else in the world. If you’re a new license holder and you’ve never done this before, it’s going to take you a year, year-and-a-half, or two years to get any decent, consistent quality product out the door in any predictable volumes.”
–Khurram Malik, Chief Executive Officer, Biome Grow Inc
Given that the legal cannabis industry is still in its infancy, it’s only natural that increased consumer demand has resulted in supply shortages, but if this is the case, producers of marijuana need to conceptualize and execute innovative ways to increase revenue while their inventories slowly get restocked. Cannabis companies need to get acquainted with a sector that can benefit positively from the supplement of their products while finding comfort in the fact that this “new” industry doesn’t require anywhere near the same inventory as an industry which solely produces and distributes marijuana.
As for the new industry that may present ample opportunities for investors and cannabis producers alike, the name of the game is telemedicine, and Premier Health Group (OTC: PHGRF) (CSE: PHGI), a tour-de-force in the space, is well aware of the potential benefits of this collaboration.
Telemedicine is expeditiously emerging as an integral asset for the future of healthcare. The market for telemedicine is growing quickly as well and is expected to continue, as the pressure to improve the efficiency and quality of care increases. This area of healthcare is heating up faster than Arizona in July, and the temperature is only intensifying.
Premier Health Group (OTC: PHGRF) (CSE: PHGI) is a company focused on redesigning how medical care is received and has worked tirelessly to develop new technologies that deliver the best quality healthcare possible. In other words, like the cannabis industry, Premier (OTC: PHGRF) (CSE: PHGI) has its eyes set on the possibilities the future may hold.
Historically, medical marijuana has been criticized by medical professionals and healthcare experts, largely in response to the near-global prohibition on cannabis that, until recently, has deterred anyone from serious consideration on the matter. In truth, countless studies have been published in peer-reviewed medical journals documenting the major health benefits associated with the use of medical cannabis. The medical marijuana industry has seen tremendous growth as legislative efforts surrounding cannabis have improved the population’s trust in the space.
On Thursday, Premier Health Group (OTC: PHGRF) (CSE: PHGI) announced, in an official press release, that as part of its expansion plans, the healthcare powerhouse will enter the Cannabis clinic space by a series of acquisitions, partnerships and/or launching a new Canada-based chain in the first half of 2019.
“The role of Cannabis in treating medical conditions is continuously expanding. Our doctors have had success treating their patients with various ailments from chronic pain to cancer-related symptoms. Unfortunately, there is a gap between the patient’s needs for medical marijuana, and the family doctor’s comfort and knowledge to prescribe it. We are looking to fill that gap with forms of clinics and services to help our patients and healthcare workers.”
–Dr. Essam Hamza, Chief Executive Officer, Premier Health
Dr. Hamza presents a very relevant point in terms of earning the trust of families concerned with treating their children using medical marijuana. If a patient is suffering from severe chronic pain or cancer-related symptoms, studies indicate that medical marijuana may alleviate some of this symptoms. Cannabis is an incredible anti-inflammatory, largely in part to the cannabinol (CBD) ingrained in the plant’s biological makeup.
Premier Health Group (OTC: PHGRF) (CSE: PHGI) is trusted in the healthcare space and their investment in medical cannabis should be recognized as a major step forward towards furthering their goal to provide the highest quality of care for their 100,000 plus member network.
The Canadian medical cannabis clinic market is estimated to be worth approximately $2.33 billion by 2025.
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