VANCOUVER, BC, June 23,
2022 /CNW/ - Numinus Wellness Inc. ("Numinus", the
"Company") (TSX: NUMI) (OTCQX: NUMIF), a mental health care company
advancing innovative treatments and safe, evidence-based
psychedelic-assisted therapies, is pleased to announce the launch
of a Utah-based pilot program to
help businesses improve employee mental health by offering
ketamine-assisted psychotherapy (KAP) as a health benefit for
eligible employees ("Corporate KAP").
While Numinus' Utah clinics,
operating under the Cedar Psychiatry brand, have secured insurance
coverage from select insurance companies for direct billing of
ketamine for treatment-resistant depression, access remains a
challenge for many patients. To bridge this gap, Cedar Psychiatry
and Utah-based HempLucid have been
piloting Corporate KAP since 2019 to ensure that its employees with
a mental health diagnosis can access the care they need. Per the
arrangement, HempLucid covers the cost of ketamine infusions while
leveraging its existing healthcare insurance plan to support the
therapy component of KAP.
"It's been revolutionary to how we operate as a business," said
Chase Hudson, Founder and CEO of
HempLucid. "Offering ketamine treatments to our employees has shown
incredible benefits for healing, positivity, and productivity in
the work environment. We are in a new era. A new social contract is
being formed between employees and employers, and businesses are
being forced to take a look at the mental health of their
employees. We're working hard to get out ahead of it and take care
of our people in a proactive way."
With mental illness considered among the highest cost-drivers
for employers, investing in workers' mental health is becoming a
top priority for business leaders. Mental illness accounts for 70%
of workplace disability costs.1 A study by Deloitte
found that the median yearly return-on-investment of CAN$1.00 spent
on mental health programs was CAN$2.18 among companies that had
mental health initiatives in place for three or more
years.2 Corporate KAP is an innovative way to help
employers increase productivity, lower absenteeism and reduce
disability costs by improving employee mental health.
Dr. Reid Robison, Chief Clinical
Officer, Numinus, commented: "It's more important than ever to take
care of our individual and collective mental health. This pilot
expands access to ketamine-assisted psychotherapy in the interest
of not only helping individuals and families, but also a global
workforce that continues to report increases in stress and burnout.
It is truly inspiring to see a company like HempLucid take care of
employees in this way."
Numinus recently completed the acquisition of Novamind, which
includes eight clinics in Utah
operating as Cedar Psychiatry and two clinics in
Arizona operating as
Foundations for Change. Numinus is currently exploring how
the Corporate KAP service offering can be expanded throughout its
13 clinics across North America.
Numinus' Cedar Psychiatry clinics offer patients access to a
range of mental health services, including ketamine therapy,
transcranial-magnetic stimulation (TMS), Spravato, talk therapy and
medication management.
To learn about Corporate KAP for employers, visit:
www.cedarpsychiatry.com/corporate-kap
To see a video about the Corporate KAP program being offered at
HempLucid, visit: https://youtu.be/RIu1axMAS7k.
About Numinus
Numinus Wellness (TSX: NUMI) helps people to heal and be well
through the development and delivery of innovative mental health
care and access to safe, evidence-based psychedelic-assisted
therapies. The Numinus model - including psychedelic research,
production and clinic care - is at the forefront of a
transformation aimed at healing rather than managing symptoms for
depression, anxiety, trauma, pain and substance use. At Numinus, we
are leading the integration of psychedelic-assisted therapies into
mainstream clinical practice and building the foundation for a
healthier society.
Learn more at www.numinus.com and www.cedarpsychiatry.com, and
follow us on LinkedIn, Facebook, Twitter, and Instagram.
Disclaimer
Neither Numinus Wellness Inc., nor any of its subsidiaries is
a professional corporation licensed to practice health services. In
jurisdictions where health services may only be provided by a
corporation if that corporation holds a valid permit to do so,
Numinus and its subsidiaries operate in a management services
function to affiliated professional corporations, who provide
health services to patients. Numinus and its subsidiaries do
provide health services directly to patients in those jurisdictions
where authorized to do so.
Forward-Looking
Statements
This news release includes certain
"forward‐looking information" and
"forward‐looking statements" (collectively
"forward‐looking statements") within the meaning of
applicable Canadian securities legislation, including statements
regarding the plans, intentions, beliefs and current expectations
of the Company with respect to future business activities and
operating performance. All statements in this news release that
address events or developments that the Company expects to occur in
the future are forward‐looking statements.
Forward‐looking statements are statements that are
not historical facts and are often identified by words such as
"expect", "plan", "anticipate", "project", "target", "potential",
"schedule", "forecast", "budget", "estimate", "intend" or "believe"
and similar expressions or their negative connotations, or that
events or conditions "will", "would", "may", "could", "should" or
"might" occur, and include information regarding expectations
around the Corporate KAP, benefits and future plans relating
thereto and availability of related insurance coverages; and
expectation for other economic, business and/or competitive
factors.
Forward‐looking statements necessarily involve
assumptions, risks and uncertainties, certain of which are beyond
the Company's control. These forward‐looking
statements are qualified in their entirety by cautionary statements
and risk factor disclosure contained in filings made by the Company
with the Canadian securities regulators, including the Company's
financial statements,related MD&A and Annual Information Form
for the financial year ended August 31,
2021 and its interim financial statements and related
MD&A for the three and six months ended February 28, 2022, all filed with the securities
regulatory authorities in all provinces and territories of
Canada, except Québec, and
available under the Company's profile at www.sedar.com. The risk
factors are not exhaustive of the factors that may affect the
Company's forward‐looking statements. The Company's
forward‐looking statements are based on the
applicable assumptions and factors management considers reasonable
as of the date hereof, based on the information available to
management of the Company at such time. The Company does not
assume any obligation to update forward‐looking
statements if circumstances or management's beliefs, expectations
or opinions should change other than as required by applicable
securities laws. There can be no assurance that
forward‐looking statements will prove to be accurate,
and actual results, performance or achievements could differ
materially from those expressed in, or implied by, these
forward‐looking statements. Accordingly, undue
reliance should not be placed on forward‐looking
statements.
1:
https://www.camh.ca/-/media/files/workplace-mental-health/workplacementalhealth-a-review-and-recommendations-pdf.pdf
2:
https://www2.deloitte.com/xe/en/insights/topics/talent/workplace-mental-health-programs-worker-productivity.html
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SOURCE Numinus Wellness Inc.
