Vancouver, British Columbia--(Newsfile Corp. - April 21, 2017) - Canabo Medical (TSXV: CMM) (OTCQB: CAMDF) has opened a new clinic in Kelowna, British Columbia. Canabo wholly owns and operates Cannabinoid Medical Clinics, or CMClinics, Canada's largest physician led referral-only clinics for medical cannabis.
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The new clinic, located in the Sterling Centre at 3975 Lakeshore Road, will be led by Dr. Chemanthi Kalen.
Established in 2014, Canabo now has 16 corporate clinics across Canada with plans to open several additional corporate clinics in 2017.
Due to high patient demand, the company also announced the opening of a second Peak Medical Group location in Edmonton. The Peak Medical Group operates partner clinics throughout Alberta.
Dr. Neil Smith, Executive Chairman, stated: "Kelowna marks the 6th clinic opening for Canabo in 2017 and demonstrates we are continuing to execute on our aggressive clinic roll out schedule. We are also pleased with our patient growth in Alberta through our partner Peak Medical."
Canabo operates referral-only medical clinics dedicated to evaluating the suitability of prescribing, and monitoring cannabinoid treatments for patients suffering from chronic pain and disabling illnesses. Clinics are staffed by physicians and qualified health care practitioners specifically trained to assess patient suitability for cannabinoid treatment, recommend treatment regimes, and monitor treatment progress.
A report by Canacccord Genuity stated: "We believe increased ease of access, education on the therapeutic benefits of cannabis, and a decrease in the historical stigma associated with marijuana use has resulted in a medical patient base in Canada that is currently in excess of 100,000 patients - a significant uptake from only a few thousand registrants a couple of years ago. Further, we believe this patient base is set to more than quadruple over the next five years. We estimate that by 2021 there will be ~500,000 registered patients in Canada who rely on cannabis as a medical therapy."
Canaccord Genuity further estimates that by 2021, the medical segment of the industry will consume more than 150,000 kilograms of cannabis annually.
Canabo recently partnered with a consortium of medical research experts to analyze data from more than 1,500 patients with the aim of understanding how cannabis interacts with or lessens the need for pharmaceutical treatments. The landmark study showed a sharp drop in benzodiazepine reliance among Canadian patients that were under doctor-supervised medical cannabis treatments.
Benzodiazepines, commonly sold under names such as Valium and Xanax, are used by 10 per cent of the general population in Canada. Research conducted over the past year revealed that 40 per cent of patients who were prescribed medical cannabis to treat pain and anxiety eliminated the use of benzodiazepines within 90 days, a number that grew to 45 per cent within a year of cannabis treatment.
For more information please visit the company's website www.canabocorp.com, or contact Madeline Whittaker at 902-334-1700 or email firstname.lastname@example.org.
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