TORONTO, Feb. 14, 2022 /CNW/ - Pathway Health Corp.
(TSXV: PHC) (Frankfurt: KL1)
(formerly Colson Capital Corp.) ("Pathway" or the
"Company"), an integrated healthcare company that provides products
and services to patients suffering from chronic pain and related
conditions, is pleased to provide an update on its flagship
Toronto clinic, the Silver Pain
Centre. Silver is the largest private interventional pain clinic in
Canada. With more than 14,000
patient visits per year, this 20,000 square foot Level 2,
Out-of-Hospital Premise (OHP) is located in North Toronto where it provides
patient-centred, interdisciplinary pain management services to
thousands of chronic pain patients each year. Staffed by 13 trained
pain specialists and other healthcare providers, Silver provides a
comprehensive suite of interdisciplinary, evidence-based
solutions.
"We're pleased to report that we added two more physicians to
our team of pain specialists at Silver in 2022 that we expect will
translate into more patient visits and an increase in provincial
billings," said Ken Yoon, CEO at
Pathway Health. "Furthermore, Silver has successfully completed its
OHP Inspection Program in compliance with the rigorous standards
set by The College of Physicians and Surgeons of Ontario.
Successfully passing this inspection allows us to continue our
interventional patient care at Silver for five more years until the
next clinic audit. We have also added a second fluoroscopy
suite at Silver that will allow our pain specialists to treat more
patients using real-time diagnostic imaging, allowing for more
precise treatments."
Health Canada estimates the
total number of individuals living with chronic pain will increase
by 17.5% from 2019 to 2030 due to population growth and
aging1. Preliminary projections indicate as many as 8.3
million Canadians may live with chronic pain by 2025 and as many as
9.0 million by 20301. By 2030, the estimated direct
costs will rise to approximately $23
billion and indirect costs to $31.5
billion1. "The increase in prevalence of chronic
pain in Canada, combined with
Pathway Health's growing reputation as a provider of superior
patient care, has allowed us to achieve year-over-year growth of
10% in patient visits across all our clinic divisions, including at
Silver, and we expect to see a continuation of this trend as we
expand our clinical presence across Canada," said Yoon.
About Pathway Health
Pathway Health is an integrated
healthcare company that provides products and services to patients
suffering from chronic pain and related conditions. The Company
owns and operates nine community-based clinics across four
provinces where its team of health professionals work together to
help patients through a variety of evidence-based approaches and
products, including medical cannabis. Pathway Health's patient care
programs utilize an interdisciplinary approach that is guided by
trained pain specialists, physical and occupational therapists,
psychologists, nurses, and other healthcare providers. Pathway is
also the leading provider of medical cannabis services in
Canada and has established itself
as the leading partner with national and regional pharmacy
companies for the delivery of medical cannabis services to their
customers. The Company is working with several pharmacy companies
on the development of Cannabis Health Products (CHPs) for OTC
product distribution through retail pharmacy locations across the
country following anticipated changes to the Cannabis Act.
For more information, visit Pathway Health's website:
www.pathwayhealth.ca
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION
This news release includes certain
"forward-looking statements" under applicable Canadian securities
legislation. Forward-looking statements are necessarily based upon
a number of estimates and assumptions that, while considered
reasonable, are subject to known and unknown risks, uncertainties,
and other factors that may cause the actual results and future
events to differ materially from those expressed or implied by such
forward-looking statements. Such factors include, but are not
limited to: general business, economic, competitive, political and
social uncertainties; delay or failure to receive applicable
approvals; and the results of operations. There can be no assurance
that such statements will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. Pathway disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by law.
Neither the Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the Exchange) accepts
responsibility for the adequacy or accuracy of this Press Release.
The TSX Venture Exchange Inc. has in no way passed upon the merits
of the proposed transaction and has neither approved nor
disapproved the contents of this press release.
1.
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https://www.canada.ca/en/health-canada/corporate/about-health-canada/public-engagement/external-advisory-bodies/canadian-pain-task-force/report-2021.html
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SOURCE Pathway Health Corp.