TORONTO, Oct. 12, 2017, AHGIF, /PRNewswire/ – Alternate Health Corp (“Alternate Health” or the “Company”) (CSE:AHG) (OTC:AHGIF), an international medical cannabis company that uses technology, research, and clinical services to increase the awareness, regulatory compliance, and appropriate usage of cannabinoids in modern medical practices, today announced its projected revenues for the next 12 months starting in Q4 2017.
“After a strong start to Alternate Health’s 1st year as a public company, we are excited to release our projected revenues for the next year,” says Dr. Michael Murphy, CEO of Alternate Health. “We have assembled a dedicated team of industry veterans and secured key assets across our four business pillars, which will drive significant revenues over the next 12 months.”
AHG 12 Month Projections: Q4 2017 – Q3 2018*
Total Net Revenue: $75,083,000
Total EBITDA: $33,410,000
EBITDA represents Earnings Before Interest, Taxes, Depreciation and Amortization.
The Company’s laboratory testing and services division, Alternate Health Labs, Inc. (‘AHL’) will continue to provide strong revenue growth throughout the next 12 months. AHL has completed its transition from reference laboratory to become an independent clinical laboratory, focused on diagnostic and toxicology testing. Alternate Health was recently approved for its Medicare license and will be applying to bill insurers directly in Q4, opening up new revenue sources and higher net revenue per specimen.
Alternate Health predicts that its CanaPass Patient Management System will be a key driver of market growth starting in Q4 2017. CanaPass’ patent pending blend of online marketplace and cloud-based electronic medical records technology was first launched in July 2017 and is expected to be deployed in all nine National Access Cannabis clinics across Canada by the end of Q4. Building on the official endorsement of the American Medical Marijuana Physicians Association (AMMPA), Alternate Health is adapting CanaPass to local regulations in the American medical cannabis market.
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*With the recent approval of its Medicare license, the above projections assume that Alternate Heath Labs, Inc. continues to grow its rep base which refers physician patient blood and toxicology samples to our lab for testing. It also assumes maintaining and developing partner/consulting arrangements related to hospital referrals. In addition, the projections assume the successful installation of CanaPass at National Access Cannabis Inc. (“NAC”) in its nine clinics across Canada. NAC currently has over 10,000 patients utilizing its clinics and that number is expected to grow as additional clinics are added. It also has relationships with licensed Marijuana producers and earns fees from patients and licensed producers. Alternate Health will share in those fees. Also, based on work with the AMMPA and state approved US licensed producers, these projections assume initial CanaPass software installation by users in three states providing capacity for transaction fees from an initial US customer base estimated to be 100,000 with significant growth potential in those and other states. Failing these assumptions, including a stagnant or shrinking rep base, lack of further hospital relationships, cessation of the relationships with NAC and the AMMPA these projections could be materially wrong. Associated risks include changing government regulations related to US federal marijuana laws and for clinical laboratories and Medicare reimbursement rates. Competition factors could also impact these projections.
About Alternate Health Corp.
Alternate Health Corp. (CSE: AHG, OTCQB: AHGIF) Alternate Health has established multiple arms-length operations within the medical cannabis industry, each of which drives consumers, data and strategic opportunities to the company’s other verticals. This sophisticated cross-integration of the company’s enterprises has positioned Alternate Health as one of the only cannabis companies that delivers consistent revenue and intellectual property without growing, manufacturing or distributing the cannabis plant. Through its software solutions, data analytics, and patented delivery systems, Alternate Health’s goal is to be the global authority on scientific and clinical support for cannabis in regulated markets. Alternate Health is well positioned to reinvest internal operating cash flow in its platform over the long term, creating an attractive investment profile for its shareholders.
For more information about Alternate Health Corp., visit www.alternatehealth.ca
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and revenue projections, business prospects and financing plans, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. This announcement contains information about the company’s future plans and financial projections that have been prepared on the basis of assumptions as to future events which management expects to take place and the actions management expects to take as of the date the information is prepared. Past performance may not be indicative of future results. Therefore, no current or prospective investor should assume that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this document, or indirectly via link to any unaffiliated third-party website, will be profitable or equal to corresponding indicated performance levels. The Company cautions that the EBITDA figures reported in this news release do not have standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. Except as required by law, the Company does not assume any obligation to release publicly any revisions to forward-looking information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
SOURCE Alternate Health Corp.