NEW HOPE, Pa.--(BUSINESS WIRE)--VerdePharmHealth, the nation’s fastest growing medical cannabis group purchasing and solutions organization, today announced the signing of a partnership agreement with Element Apothec, a purpose-driven, hemp-derived phytocannabinoid wellness brand, for its proprietary portfolio of CBD+CBG+CBN products. This collaboration will bring Element Apothec’s premier wellness products to multi-specialty practices nationwide in 2021.
“The highly synergistic partnership will accelerate Element Apothec’s commercial strategy to educate healthcare providers and patients on its customized CBD+CBG+CBN product portfolio designed specifically for our patient populations and will provide market access to VerdePharmHealth’s end-to-end technology platform, decision-support, patient engagement tools, and clinical trials”
In addition to the partnership agreement, both companies have committed to educating healthcare providers and patients on the benefits of CBD, CBG, CBN, terpenes and other natural medicinal compounds, and how they can be used as a supplemental benefit for different ailments. The program will be designed to improve physician and patient perspectives on the use of cannabinoids for discomfort, mood support, and more.
“Beyond the well-known cannabinoid, cannabidiol (CBD), Element Apothec uses state-of-the art formulation chemistry to precisely blend other minor cannabinoids into the mix, such as cannabigerol (CBG) and cannabinol (CBN). Instead of using the one-size-fits-all model, Element Apothec’s products leverage unique terpene blends and proprietary formulations for very specific-use cases. The resulting entourage effect is well-documented in the medical world and used to describe the phenomenon of chemicals’ effects becoming synergistic when paired with other chemicals,” said Dr. Ralph Boccia, Advisory Board Medical Chair for VerdePharmHealth. “The addition of Element Apothec’s products to our formulary will provide healthcare providers more alternative therapeutics for addressing specific patient needs.”
“Producing an effective cannabinoid product formulation for a targeted patient population is a closely orchestrated process, requiring a strong clinical pedigree and scientific insights to optimize the clinical improvement goals in patients. All Element Apothec products benefit from non-detectable levels of THC, high purity CBD, custom minor cannabinoid ratios and organic extraction,” said Dr. Swathi Varanasi, chief scientific officer at Element Apothec.
“Doctors around the globe are realizing the medicinal benefits of cannabinoid-infused wellness products and are recommending their use to patients without having a product in hand that they can confidently supply,” said Davina Kaonohi, co-Founder & chief executive officer at Element Apothec. “Teaming with VerdePharmHealth allows us to benefit from their unique business model to fill this void by providing practitioners with cannabinoid-infused products formulated with medical oversight and produced to the highest standards.”
“The highly synergistic partnership will accelerate Element Apothec’s commercial strategy to educate healthcare providers and patients on its customized CBD+CBG+CBN product portfolio designed specifically for our patient populations and will provide market access to VerdePharmHealth’s end-to-end technology platform, decision-support, patient engagement tools, and clinical trials,” said Nikko Khazana, chief commercial officer, VerdePharmHealth.
Element Apothec demonstrates its commitment to patient safety and doctor peace of mind through its rigorous in-house research & development, third-party lab testing & COAs, GMP manufacturing compliance, and other self-regulating actions that are critical to keeping patients safe and ensuring trust in the medical industry.
VerdePharmHealth, the first organization of its kind in the U.S., provides comprehensive multi-specialty group purchasing, clinical solutions, and healthcare technology designed to drive high-level commitment and affordability for members through accessibility of quality cannabis products from prequalified manufacturers and leveraging of clinical services and robust technology to improve decisions for interventions at the point of care and capture real-world evidence. Utilizing retrospective data and clinical studies for decision-support and standardization of appropriate-use in the care delivery process is a central pillar towards achieving outcomes. For more information, visit www.verdepharmhealth.com or follow VerdePharmHealth on LinkedIn.
About Element Apothec
Element Apothec is a clean nutraceutical wellness brand focused on developing innovative and natural formulations that utilize the well-documented benefits of CBD, broad-spectrum phytocannabinoids including CBD, CBN, and CBG, and plant-based remedies. As a public benefit corp., Element Apothec is committed to bettering the world through responsible ingredient sourcing, sustainability, and an unwavering commitment to not harming our planet.
Matters discussed in this release that are not statements of historical or current facts, such as expected savings and other expected benefits to members and suppliers, as discussed herein, are “forward-looking statements'' which may involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of VerdePharmHealth and its subsidiaries to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on any forward-looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements in the conditional or future tenses or that include terms such as “believes,” “belief,” “expects,” “estimates,” “intends,” “anticipates” or “plans” to be uncertain and forward-looking. Forward-looking statements may include comments as to VerdePharm’s beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside VerdePharm’s control. Forward-looking statements speak only as of the date they are made. VerdePharm undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date.