Mednow Becomes Preferred Provider to Police Pensioners Association of Ontario; Appoints New CFO
- Over 12,000 members will have access to Mednow’s virtual pharmacy and delivery service
- First large institutional account for Mednow
- Benjamin Ferdinand appointed CFO
May 17, 2021 08:57 AM Eastern Daylight Time
TORONTO–(BUSINESS WIRE)–Mednow Inc. (“Mednow” or the “Company”)(TSXV:MNOW), Canada’s on-demand virtual pharmacy, is pleased to announce the Company has entered into a Preferred Pharmacy Provider Agreement dated May 16, 2021 with the Police Pensioners Association of Ontario (“PPAO”).
Through this agreement, the PPAO’s over 12,000 members will have access to transparent pricing, free delivery anywhere in Ontario including free same-day delivery in the Greater Toronto Area, and access to Mednow’s digital health platform which includes prescription management and telemedicine. Mednow’s preferred provider status will be advertised to the PPAO’s members through its newsletters and marketing website. Members can easily choose to access Mednow’s services via the Company’s digital platform or call center. Pharmacists are available by phone or text and can consult with the members from the comfort of their homes on all their medication needs.
“We are absolutely honored to serve PPAO members who have dedicated their lives to serving the public. Associations like the PPAO and companies are all recognizing that their health care plan beneficiaries require access to innovative solutions to meet their evolving needs. As we establish a national presence, we believe we will build more momentum in attracting institutional caliber customers who require a national pharmacy provider,” said Karim Nassar, CEO of Mednow.
Mednow is also pleased to announce the appointment of Benjamin Ferdinand as Chief Financial Officer, effective June 7, 2021. Mr. Ferdinand was most recently CFO of Aleafia Health Inc. (TSX:AH) and has extensive experience in finance, strategy and investment banking. Mr. Ferdinand will be replacing Joshua Lebovic, who was previously appointed CFO on a transitionary basis.
Mr. Nassar added, “We are extremely pleased to have Benjamin join our team. His experience is an excellent complement to our executive leadership team and we plan to make him an integral part of our growth as we strive to become a household name across Canada. We would also like to extend a sincere thank you to Josh, who was instrumental to our IPO and building our finance function.”
About Mednow Inc.
Mednow is a healthcare technology company offering virtual access with exceptional care. Designed with access and quality care in mind, Mednow.ca provides virtual pharmacy services with convenience and through an interdisciplinary approach to healthcare that is focused on the patient experience. Pharmacy services include free at-home delivery of medications, a user-friendly interface for easy upload, transfer and refill of prescriptions, access to healthcare professionals through an intuitive chat experience, a specialized PillSmart™ system that packages prescriptions and vitamins by date and time, as well as access to telemedicine.
About the PPAO
The Police Pensioners Association of Ontario was founded in 1997 by a group of active and retired Ontario police officers representing multiple police services throughout the province. The purpose was, and is, to unite fraternally and promote the mutual interests of police retirees and encourage a cooperative relationship. For over 20 years the PPAO has advocated for its membership to maintain or improve there quality of life. We encourage and promote cooperative enterprise and together, are a unified voice on issues that affect pensions and health. We bring further value by partnering with business to bring our members services at reduced cost.
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This release includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws, including statements regarding the timing of operations beginning in Manitoba and Nova Scotia, receipt of all required regulatory approvals from the Manitoba College of Pharmacists, the Nova Scotia College of Pharmacists and other regulatory bodies with oversight of pharmacy practices, the ability to service clients from the Manitoba and Nova Scotia fulfillment centres, the establishment of a presence in Quebec and Ontario, and the benefits and results arising from a national presence. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends,” “anticipates,” “it is expected,” or variations of such words and phrases, or statements that certain actions, events or results “may,” “could,” “should,” or “would” occur. Forward-looking statements are based on certain material assumptions and analyses made by management of the Company and the opinions and estimates of management of the Company as of the date of this press release, including that the transactions contemplated herein will close on the terms and timeline as anticipated by the management of the Company. Although the Company considers these assumptions to be reasonable based on information currently available to them, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors may include, among others, the risk that the transactions contemplated herein will not close on the terms and timeline as anticipated by the management of the Company, or at all, the risk that the Company will not receive required regulatory approvals, the risk that the Company will be unable to complete its proposed activities or realize the benefits or results therefrom, and the other risks and uncertainties applicable to the Company and the business of the Company as set forth in the Company’s final long form prospectus dated February 26, 2021 and its other disclosure available under the Company’s profile at www.sedar.com. There can be no assurance that the transactions contemplated in this news release will complete. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. 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 and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations. We seek safe harbor.