Emerald Organic Products Signs Term Sheet to Form Health Benefits Joint Venture with Health Services HubPress Release | 08/06/2020
Holbrook, New York, Aug. 06, 2020 (GLOBE NEWSWIRE) -- Emerald Organic Products Inc. (OTC: EMOR) (the “Company”, "Emerald", or "Emerald Organic Products"
, an integrated health technology company, is pleased to announce that, further to its August 3, 2020 press release regarding the Company’s vision, key business-building strategies and new developments, it has signed a Term Sheet (the “Term Sheet”) to form a Joint Venture with Health Services Hub (the “Joint Venture”), an established ancillary benefits administrator. Health Services Hub is one of the leading care benefits management platforms. Health Services Hub offers employers, TPAs, alumni, affinity groups and consumers a suite of centralized tools for easy access to their care benefits; on-demand expert health advice, health and wellness assessment programs and more, all through a fully-integrated, user-centric interface.
By co-bundling product and benefit offerings, the Company’s highly scalable infrastructure will provide same-day last mile prescription and OTC drug delivery services to the Health Services Hub product suite and allow for cross-promotion and cross-marketing of additional health and wellness benefits.
"This is a unique opportunity to combine two innovators in the healthtech industry who seek to defragment the care continuum, thereby driving patient value and enabling consumers to take action on their own health care decisions," said Ian Parker, Chief Executive Officer of Emerald Organic Products. "Ours and Health Services Hub’s offerings are being integrated harmoniously and, together, will provide greater end-user experiences, improving benefit packages for customers and employers alike."
Health Services Hub currently has over 1,500,000 lives on the platform from various groups.
This Joint Venture brings a strong, highly accretive distribution network, and a sophisticated patient enrollment portal that enables efficient and modernized benefits administration, strengthening the Company’s position in the fragmented health and wellness benefits market.
"Partnering with Health Services Hub helps us to build upon our goal of offering a broad suite of solutions to our pharmacy and telehealth partners, all with a common goal of providing patients with better access to consistent, high quality care at a fair price," added Parker.
Chris Barr, Founder of Health Services Hub, commented, "For years, Health Services Hub has focused on making employer benefits simpler to access and easier to understand. Marrying both company's innovative engagement strategies, technology and service offerings will deliver on our shared goal of providing the highest quality and value benefits. Our suite of benefits coupled with our robust user lifetime value cements our position as leaders in the healthtech market."
About Emerald Organic Products, Inc.
Soon to be known as Carie Health, Inc., Emerald Organic Products' objective is to build, as well as acquire, technology that touches people at the most important points of their lives. Carie, through its subsidiaries, uniquely combines virtual care capabilities with digital pharmacy and prescription delivery offerings in a streamline ecosystem to democratize and defragment patient access to products and services within the healthcare continuum.
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