Levitee Labs Inc.
(the "
Company" or "
Levitee
Labs”) (CSE: LVT) (OTC: LVTTF) (FSE: 7H7) an integrative
wellness company with a diversified portfolio of healthcare and
wellness assets, is pleased to announce a partnership
with Adracare Inc. (“
Adracare”) a Well Health
Technologies company (TSX: WELL) (“
WELL Health” or
“
WELL”). WELL, an innovative healthcare company
whose overarching objective is to leverage technology to empower
and support healthcare practitioners and their patients, will
provide Levitee Labs Inc. access to WELL’s comprehensive end-to-end
practice management tools, including, but not limited to, a
world-class telemedicine platform. Levitee Labs is excited to be
joining the WELL Health network for the opportunity to further
bolster its healthcare and wellness assets.
“We believe Adracare is a world-class partner with which to
build out a telemedicine and integrated technology platform, with
the goal of delivering psychedelic-inspired medicines and
experimental therapies combined with digital therapeutics” said
Pouya Farmand, CEO of Levitee Labs. Levitee Labs operates 5 clinics
and 3 pharmacies (primarily based in Alberta), which see
approximately 35,000 patients a year. By introducing psychedelic
medicine services into traditional healthcare infrastructure,
Levitee Labs will be able to precisely gauge the impact of
psychedelic-assisted therapies on patients. Adracare’s technology
platform provides services such as videoconferencing, which are
making mental health services more accessible for patients and
cutting the cost of delivering care for health care
providers. The Adracare platform unifies several core
functionalities under a single platform for Levitee Labs. This
provides a unique entry point for patients to receive value-based
digital care and allows providers to follow patients closely
through their recovery process.
Levitee Labs recognizes that
mental healthcare assets are not optimally digitized and protected.
Through this agreement with Adracare, Levitee Labs seeks to
leverage Adracare’s technology tools to provide a state-of-the art
digital technology platform for mental healthcare delivery. This
model will integrate ethical considerations of digital technologies
into a platform that includes clinical workflows, evidence-based
care, and shared decision making in a sustainable and scalable
manner. This platform will also serve as an opportunity for Levitee
Labs to scale psychedelic therapies to various communities across
Canada, where there is critical shortage of in person care
providers.
The agreement with Adracare will further enhance Levitee Labs’
ability to engage with its patients that carry the burden of
addiction and mental health conditions by enhancing workflows and
interactions with them as well as their providers of care. As
Levitee Labs continues to grow its portfolio of assets through an
accretive M&A strategy, its growing number of patients with
addiction and mental health conditions will likely have multiple
associated conditions that need to be addressed. By partnering with
Adracare, Levitee Labs is now equipped with a telehealth strategy
and platform to provide care to more patients and cover a gamut of
multidisciplinary addiction and mental health services, including
one-on-one counseling, group therapy, consultations, and
psychedelic treatments.Shervin Bakhtiari, GM of Digital Health Apps
at WELL, commented: “We are delighted to partner with Levitee Labs,
to empower them with a leading digital platform to support their
growth. Adracare provides a strong turnkey practice management
platform with native telehealth and patient engagement capabilities
to deliver a personalized experience for mental health providers
and patients.”
With the use of Adracare's telehealth solution, a wide range of
services can also be conducted at home, giving patients the option
to remain in place in a comfortable setting, alleviating any
barriers of accessibility. Appointments are booked online, patient
communications are sent via email and text messaging, and a virtual
visit may occur, all within the same technology platform.
About Levitee Labs Inc.
Levitee Labs is establishing itself as a leader
in the integrative wellness space. Through leveraging an M&A
regimen that focuses on the centralization of complementary
integrative wellness assets, Levitee Labs aims to transform mental
health and addiction treatments through the integration of
psychedelic medicines and alternative therapies. The company’s
current portfolio of assets includes: Levitee Clinics™, a group of
five operating addiction and pain treatment clinics in Alberta;
Levitee Pharmacies™, three pharmacies operating in Alberta
specialized in filling prescriptions for patients with substance
use disorders, mental health conditions, and chronic pain; BlockMD,
the first technology company in Alberta to receive provincial
approval for electronic-prescriptions in the addiction treatment
space; and Earth Circle Organics, a direct-to-consumer and
wholesaler of supplements and superfood products with 180+ SKUs in
its product lineup across three brands. Further information about
Levitee Labs is available on its website at
www.leviteelabs.com.
About Adracare Inc.
Adracare is a complete, yet simple virtual clinical solution
designed for outpatient clinics, from small practices to
enterprises. The platform is designed for specialty clinics, but
optimizes and centers around patient engagement. We're on a mission
to reduce workflow inefficiencies, by providing curated workflows
adapted to each specialty practice. By eliminating manual
processes, optimizing data access, and integrating with other
mission-critical healthcare platforms, we save clinics time and
money. Our suite of tools includes videoconferencing, simple online
booking and messaging, in-session charting, and many more features
that unify practice management while making healthcare more
accessible and convenient. Please visit our Facebook page at
https://www.facebook.com/adracare and our website at
https://adracare.com/ for more details.
Forward-Looking Statements
This news release contains certain statements that may
constitute forward-looking information under applicable securities
laws. All statements, other than those of historical fact, which
address activities, events, outcomes, results, developments,
performance, or achievements that Levitee Labs anticipates or
expects may or will occur in the future (in whole or in part)
should be considered forward-looking information. Such information
may involve, but is not limited to, statements respecting Levitee
Labs’ business plans and proposed products, and the benefits
derived from mushroom-infused products. Often, but not always,
forward-looking information can be identified by the use of words
such as "plans", "expects", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates", or "believes"
or variations (including negative variations) of such words and
phrases, or statements formed in the future tense or indicating
that certain actions, events or results "may", "could", "would",
"might" or "will" (or other variations of the forgoing) be taken,
occur, be achieved, or come to pass. These statements and other
forward-looking information are based on assumptions made by
Levitee Labs based on currently available competitive, financial,
and economic data and operating plans, strategies, or beliefs as of
the date of this news release as well as management's current
expectations or beliefs regarding future growth, results of
operations, future capital (including the amount, nature, and
sources of funding thereof) and expenditures. These assumptions may
also be based on information obtained from third-party industry
analysts and other third-party sources. Forward-looking information
is necessarily based on a number of opinions, assumptions and
estimates that, while considered reasonable by Levitee Labs as of
the date such statements are made, are subject to known and unknown
risks, uncertainties, assumptions and other factors that may cause
the actual results, performance or achievements to be materially
different from those expressed or implied by such forward-looking
information, including but not limited to risks associated with the
following: Levitee Labs’ limited history of operations; ability to
secure additional financing; negative cash flow from operating
activities since inception; regulatory requirements; changes in
consumer preferences; supply of raw materials; reliance on a
limited number of products; brand awareness; the ability to
develop, market and produce new products; dependence on certain key
senior managers; reliance on third parties for manufacturing and
packaging; potential product liability claims and product recalls;
and significant competition. For additional information regarding
these risks, please see the risk factors identified and reported in
Levitee Labs’ public filings under its SEDAR profile at
www.sedar.com. Any and all forward-looking information contained in
this press release is expressly qualified by this cautionary
statement. Readers are cautioned not to place undue reliance on
forward-looking statements or information. The forward-looking
information is made as of the date of this news release, and
Levitee Labs assumes no obligation to publicly update or revise
such forward-looking information, except as required by applicable
securities laws. The CSE (operated by CNSX Markets Inc.) has
neither approved nor disapproved of the contents of this press
release and accepts no responsibility for the adequacy or accuracy
hereof.
For further information about Levitee Labs Inc., please
contact:
Media Contact: media@leviteelabs.com
Investor and Corporate Communications: ir@leviteelabs.com
For further information about Adracare Inc., please
contact:
Brittany Dubeckinfo@adracare.com1 (833) 533 0477
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