Khiron Launches Revenue-Generating Pilot Program With Top Colombian Health Insurance Provider
- Four-month pilot program with EPS SURA represents first step towards an integrated healthcare system for priority neurological pathologies
- EPS SURA is Colombia's leading insurance provider and an affiliate of Suramericana S.A., one of Latin America's largest insurance companies with a presence in nine countries including Mexico, Chile and Uruguay
- Pilot program between EPS SURA and ILANS will leverage both parties' resources to enhance patient access to integrated healthcare management models
- Pilot program forms basis of model to generate predictable and recurring revenue for the Company
- Furthers Khiron's continued mission to provide innovative and effective healthcare options to 620M population in Latin America.
TORONTO, Aug. 8, 2019 /CNW/ - Khiron Life Sciences Corp. ("Khiron" or the "Company") (TSXV: KHRN), (OTCQB: KHRNF), (Frankfurt: A2JMZC), an integrated cannabis company with core operations in Latin America, announced today that its wholly-owned clinic network, the Latin American Institute of Neurology and the Nervous System ("ILANS"), has partnered with leading Colombian insurance company EPS SURA to launch a four-month pilot program that will provide medical services to an initial group of 450 patients. The pilot program, now in progress, represents the first step towards an integrated healthcare system for priority neurological pathologies, including convulsive syndrome.
With revenues of $1.2 billion CAD in 2018, EPS SURA is one of the largest insurance companies in Colombia, and forms part of the wider Suramericana S.A. network across Latin America. As part of ILANS' continued commitment to developing integrated health management models that enhance patient service and improve healthcare outcomes, the pilot program will allow ILANS to gather patient information and deliver quality services designed to the individual needs of patients and their families. Further, the launch of the pilot program will leverage both parties' resources to enhance patient access to integrated healthcare management models, advancing Khiron's continued mission to provide effective healthcare options to a population of 620M in Latin America.
Alvaro Torres, CEO and Director of Khiron, commented: "We are proud to initiate this pilot program with EPS SURA, and for the trust they have placed in ILANS to improve the quality of healthcare management for these initial 450 patients. The program allows us to enhance the patient relationship, and on conclusion, positions us to continue responsibility for their integrated management, including the definition and application of treatment and medical prescriptions and procedures."
"This pilot establishes a revenue-generating model for us built around a fixed fee structure, and as we move forward, we anticipate working alongside Latin America's leading insurance companies to increase the number of patients, and to further expand the application of this integrated care approach." Says Mr. Torres.
ILANS is one of the most respected, fastest growing, and largest health service network providers in Colombia. The network includes over 60 in-house licensed physicians and clinicians, and services 119,000 patients with strategic locations in target markets, including two well-established and large neurological clinics located in Bogota, Colombia.
About Khiron
Khiron Life Sciences Corp. is positioned to be the dominant integrated cannabis company in Latin America. Khiron has core operations in Latin America and is fully licensed in Colombia for the cultivation, production, domestic distribution, and international export of both tetrahydrocannabinol (THC) and cannabidiol (CBD) medical cannabis. The company delivers best in class regulatory compliance, has the first approved set of CBD cosmetic products on shelf in Colombia, and is currently facilitating testing to meet and surpass all license requirements for commercial cannabis derived products.
With a focused regional strategy and patient-oriented approach, the Company combines global scientific expertise, agricultural advantages, branded product market entrance experience and education to drive prescription and brand loyalty to address priority medical conditions such as chronic pain, epilepsy, depression and anxiety in the Latin American market of over 620 million people. The Company is led by Co-founder and Chief Executive Officer, Alvaro Torres, together with an experienced executive team, and a knowledgeable Board of Directors that includes former President of Mexico, Vicente Fox.
Cautionary Notes
Forward-Looking Statements
This press release may contain certain "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Khiron undertakes no obligation to comment analyses, expectations or statements made by third-parties in respect of Khiron, its securities, or financial or operating results (as applicable). Although Khiron believes that the expectations reflected in forward-looking statements in this press release are reasonable, such forward-looking statement has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond Khiron's control, including the risk factors discussed in Khiron's Annual Information Form which is available on Khiron's SEDAR profile at www.sedar.com. The forward-looking information contained in this press release is expressly qualified by this cautionary statement and are made as of the date hereof. Khiron disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
United States Disclaimer
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as such term is defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
Further information in respect of the Company can be found at www.khiron.ca.
SOURCE Khiron Life Sciences Corp.
Investor Contact: Chris Naprawa, President, T: +1 (416) 705-1144, E: [email protected]; Media Contact: Jon Packer, Vice President, Communications, T: +1 (416) 543-9179, E: [email protected]
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