I didn’t see this coming – two Equity.Guru clients have released an MOU that they’ll jointly develop a mobile app for cannabis patients, consumers, and their clinical care teams.
Long time readers will recall I’ve often talked about Reliq Health Technologies (RHT.V), which has a tech that allows doctors, patients, clinicians, nurses, physios, family and guardians to monitor home care, so that alerts can be sent if grandma hasn’t moved in a while, or if medicine isn’t being consumed properly. This allows doctors to see to their parents in batches from a secure online dashboard, rather than waiting for them to have a problem and having to see them in clinic, and at great expense.
Reliq announced in mid-January that it was taking that tech and applying it to an app specifically focused on cannabis treatments, and clearly Invictus MD Strategies sees the potential in that.
Thus, we have a meeting of the minds.
Reliq’s secure platform allows clinicians to collect comprehensive data on patients’ clinical conditions, medication usage, symptoms, side effects and behaviours – creating a wealth of population health data.
“Studies consistently show that providing patients with the tools they need for self-management of their health conditions produces better health outcomes and reduces healthcare costs. Cannabis is prescribed to treat a wide range of conditions including arthritis, glaucoma, side effects from chemotherapy, chronic pain, multiple sclerosis and post-traumatic stress disorder. Our cannabis app allows patients to track usage and record symptoms specific to their clinical condition, allowing patients and their care providers to determine optimum strain, dosing and mode of administration. Our platform will improve access to care by connecting patients with physicians in their community who have experience with medical marijuana, and supports physician-approved automated prescription refills through participating producers,” said Dr.Lisa Crossley, CEO of Reliq.
How will this apply to Invictus?
Invictus MDs’ Chairman and CEO Dan Kriznic said, “Our wholly owned subsidiary: Poda Technologies Ltd. is set for a launch in Q2 2017 of its Poda Pod vaporizer product which will provide an effective, reliable and convenient way to vaporize cannabis that is designed to appeal to modern retail and medical consumers.”
The Poda Pod vaporizer product, made with medical-grade components, has been designed to connect to users’ smartphones via Bluetooth to provide real time information about dosage, product characteristics, track remaining contents, find vendors nearby, and customize their experience. Agreements are being negotiated to license the PODA products to the Access to Cannabis for Medical Purposes Regulations (“ACMPR”) and licensed Producers in Canada, helping those producers better reach and serve consumers with convenient, refillable devices.
So what you have here is two companies creating complimentary tech that have decided to share that tech in the pursuit of one great product that will be doctor-helpful, patient-friendly, tech-smart, will help gather big data, and will be hopefully available through Canadian LPs.
I’m going to go a step further and imagine what this product would be like if Canabo Medical (CMM.V) became a part of this group. Canabo has a dozen doctor referral centres where your GP, if they’re unsure about weed treatments and dosages, can refer you for further treatment. The Canabo centres then receive patient records that they can add to their heaving patient database that is used to track treatments, trends, and supplement existing knowledge about what is working at the medical level.
Currently, patients are monitored by Canabo on an ongoing basis. The Reliq/Invictus tech would help them in that pursuit.
If the three companies aren’t talking yet, they should be. Their clinics would be a great point of sale for the Reliq/Invictus product, and that product would be a great add-on to what Canabo already does.
Canabo stock sits at $0.73 today, amid ongoing news of clinic expansions. Reliq stocks is up 40% from where it was in mid-December, sitting at $0.14 today, and Invictus stock jumped 12% on the news Wednesday, to $1.90.
That’s a 660% jump from the $0.25 it sat on in September of last year, when Equity.Guru pointed out it was an undervalued arbitrage target.
— Chris Parry
FULL DISCLOSURE: Invictus and Canabo are Equity.Guru marketing clients. Reliq is not an Equity.Guru client, but has been previously.