Reformulary Group Inc. and Mednow Inc. Partner to Advance the Mission of Making Medications More Transparent, More Accessible, and More Affordable for All Canadians
24 Mai 2023 - 1:00PM
Business Wire
By blending technological innovations, this groundbreaking
partnership offers mutual patients more choice, better value, and
easy access to expert advice related to drugs that provide the best
healthcare value in a digital age. It also intends to extend
affordable access to prescription drugs to groups such as gig
workers- traditionally left out of most healthcare plans.
Mednow Inc (TSXV: MNOW) (OTCQX:MDNWF) is proud to announce today
that Reformulary Group Inc. has chosen Mednow as a preferred
digital pharmacy, helping optimize the member experience of close
to 300,000 and growing, subscribed members. Reformulary Group built
and manages The Reformulary®, its proprietary drug list (formulary)
becoming the most recognized independent formulary in Canada, along
with the award-winning Drugfinder® search tool. Partnering with the
Reformulary team, like-minded healthcare professionals, Mednow will
offer managed formularies powered by Reformulary® to its
ever-growing network of clients. The Reformulary-Mednow partnership
leverages Reformulary’s built-in expert advice to help Canadians
find the drug that provides the best healthcare (works better;
costs less), together with a smart pharmacy that’s committed to
providing lower prices for plan members. Reformulary plan members
will also benefit from concierge support from Mednow
pharmacists.
The partnership also includes the development of a combined
offering to bring an exciting, affordable, and transparent drug
solution to all Canadians. This includes people without or with
little drug coverage, such as gig workers and others without drug
plans. Founded on shared values, the two companies will work
together toward the mutual goal of making drugs more affordable for
more Canadians.
The Reformulary and its Drugfinder® search tool offer built-in
expertise about which drugs provide the best value (clinical &
cost), empowering people to proactively manage their health. The
company also has a substantial prescription drug data asset used to
mine and better understand the use of prescription drugs. With its
focus on empowering people, Reformulary is launching a set of
online tools, called meTrics™, for all Canadians to track their
health and quality of life – since, You know you best™.
Mednow is a national virtual pharmacy in your pocket offering a
personal, private and always-on digital pharmacy experience for all
Canadians. Reformulary clients (and indeed all Canadians) enjoy
fast, free prescription delivery as part of Mednow’s low dispensing
fee as well as low drug cost and instant access to pharmacists for
advice on the phone or in the Mednow app for iPhone/iPad, Android
devices and on the web.
Components of the partnership include technological integrations
making digital tools more accessible for mutual patients, virtual
pharmacy services provided to Reformulary clients, the Reformulary
will be offered to Mednow clients, an exciting solution for
uninsured and underinsured Canadians.
About Mednow
Mednow (TSXV: MNOW) (OTCQX:MDNWF) is a healthcare technology
company offering virtual access with a high-standard of care.
Designed with accessibility and quality of care in mind, Mednow
provides virtual pharmacy and telemedicine services as well as
doctor home visits through an interdisciplinary approach to
healthcare that is focused on the patient experience. Mednow’s
services include free at-home delivery of medications, doctor
consultations, a user-friendly interface for easy upload, transfer,
and refill of prescriptions, access to healthcare professionals
through an intuitive chat experience and the specialized PillSmart™
system that packages prescriptions in easy-to-use daily dose packs,
each labelled with the date and time of the next dose.
About Reformulary
Reformulary Group is a leading healthcare company in Canada,
enabled by technology. The most notable innovation is its
proprietary list of prescription drugs (formulary) – The
Reformulary. Championing better drugs plans for Canadian companies
and Canadians. Reformulary Group is passionate about its work, as
it knows how important it is for Canadians to have access to
effective drugs at affordable prices.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements:
This release includes certain statements and information that
may constitute forward-looking information within the meaning of
applicable Canadian securities laws. All statements in this news
release, other than statements of historical facts, including
statements regarding future estimates, plans, objectives, timing,
assumptions or expectations of future performance, are
forward-looking statements and contain forward-looking information,
including statements relating to: Mednow’s plan to expand its
operations and open fulfillment centres in certain locations in
2022, Mednow’s goal of integrating the technology of its strategic
business acquisitions with its core fulfillment pharmacies, the
optimization of Mednow’s PillSmart TM and nutraceutical offerings,
Mednow’s ability to connect with employers, specialty doctors and
large pharmacies, and Mednow’s ability to acquire customers and
lower costs.
Generally, forward-looking statements and information can be
identified by the use of forward-looking terminology such as
“intends” or “anticipates”, or variations of such words and phrases
or statements that certain actions, events or results “may”,
“could”, “should”, “would” or “occur”. Forward-looking statements
are based on certain material assumptions and analysis made by the
Company and the opinions and estimates of management as of the date
of this press release. These forward-looking statements are subject
to known and unknown risks, uncertainties and other factors that
may cause the actual results, level of activity, performance or
achievements of the Company to be materially different from those
expressed or implied by such forward-looking statements or
forward-looking information. Risk factors are set out in the
Company’s final long form prospectus dated February 26, 2021
available for review on the Company’s profile at www.sedar.co .
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 undertake to update any forward-looking statement,
forward-looking information or financial out-look that are
incorporated by reference herein, except in accordance with
applicable securities laws.
This news release also contains future-oriented financial
information and financial outlook information (collectively,
“FOFI”) as defined under Canadian securities laws, prepared by
Mednow’s management about Mednow’s reasonably estimated prospective
results of operations, revenue, sales, and components thereof, all
of which are subject to the same assumptions, risks factors,
limitations and qualifications set forth in the above paragraphs.
Readers are cautioned that FOFI are not guarantees of future
performance, and should not be considered as such, since actual
results may differ materially from those expressed in FOFI. Mednow
and its management believe that FOFI has been prepared on a
reasonable basis, reflecting management’s best estimates and
judgements. FOFI contained in this news release were made as of the
date of this news release and is provided for the purpose of
describing the belief of Mednow’’s management of the anticipated
effects of the financing on Mednow’s business operations.
As a result, there can be no assurance that forward-looking
information or FOFI will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
this news release. Accordingly, readers should not place undue
reliance on the forward-looking information or FOFI contained in
this news release. Mednow does not undertake any obligation to
publicly update or revise any forward-looking information or FOFI
other than as required under applicable securities laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20230524005347/en/
Investor contact: Lorraine Cardenas 1-855-686-6300
ir@mednow.ca Reformulary Media Contact: Lyn Whitham T: 647-527-3579
lynwhitham@rogers.com
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