Abacus Health Products Enters Agreement with WBC Group to Expand CBD CLINIC™ Distribution
WOONSOCKET, R.I. & TORONTO--(BUSINESS WIRE)--Nov 4, 2019--
Abacus Health Products, Inc. (CSE: ABCS, OTCQX: ABAHF) (“Abacus” or the “Company”) today announced the expansion of the distribution capabilities of its CBD CLINIC product line through an agreement with WBC Group, LLC (“WBC”).
WBC is one of the largest distributors of medical supplies to chiropractors, physical therapists, massage therapists and other health and wellness professionals in the United States. Under the agreement, which is effective November 1, 2019 for a term of 39 months, WBC, through its wholly owned subsidiary MeyerDC TM, will market and distribute CBD CLINIC products to its customers.
“This agreement is a step change for Abacus in terms of the number of chiropractors and health and wellness professionals that will now have access to CBD CLINIC products.” Said Abacus CEO Perry Antelman “We are delighted to partner with WBC, an established and highly respected partner to the health-care practitioner market.”
The CBD CLINIC line of products was launched in 2016 and includes a line of pain-relieving ointments, creams and oils used by health care practitioners in their practices as well as sold by them to their customers. CBD CLINIC products are currently being sold to over 12,000 licensed professionals across the United States. According to a third-party survey 9 out of 10 health care practitioners who use CBD CLINIC™ recommend it over other topical analgesics. *
*Data is based on a third-party survey with 253 respondents. Chiropractors, Message Therapists, Acupuncturists and Physical Therapists comprised 96% of health care practitioners who responded to the survey.
This news release contains forward-looking statements or information (collectively, “forward-looking statements”) within the meaning of applicable securities legislation, including, without limitation, statements relating to expected distribution through new partners and the execution of the Company’s growth strategy. Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company’s control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements, including assumptions regarding the Company’s ability to efficiently operate its business, market and economic conditions, business prospects or opportunities, future plans and strategies, anticipated events and trends, and regulatory changes that may affect the Company and its customers and industry.
There can be no assurance that actual results will not differ materially from those expressed or implied in forward-looking statements. Undue reliance should not be placed on forward-looking statements. Additional information about these risks, uncertainties and assumptions is contained under “Risk Factors and Uncertainties” in the Company’s annual information form dated April 12, 2019, which is available under the Company’s SEDAR profile at www.sedar.com. Each forward-looking statement speaks only as of the date hereof, and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.
About Abacus Health Products, Inc.
Abacus is engaged in the development and commercialization of over-the-counter (OTC) registered topical medications with active pharmaceutical ingredients and which contain organic and natural ingredients, including a cannabinoid-rich hemp extract containing CBD from the Cannabis sativa L plant. Abacus’ products are aimed at the rapidly growing markets for topical pain relief and therapeutic skincare and are based on proprietary patent-pending technologies developed by Abacus. Abacus’ formulations combine advanced science with organic and natural ingredients to provide safe relief. Abacus currently offers two lines of products: CBD CLINIC™, marketed to the professional practitioner market, and CBDMEDIC™, marketed to the consumer market. Abacus’ products are offered across the United States and are produced by a contract manufacturer in a cGMP compliant and audited manufacturing facility.
To learn more about Abacus, visit www.abacushp.com.
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CONTACT: Hank Hague, Chief Financial Officer
Bill Mitoulas, Investor Relations
KEYWORD: UNITED STATES NORTH AMERICA RHODE ISLAND
INDUSTRY KEYWORD: BIOTECHNOLOGY ALTERNATIVE MEDICINE PHARMACEUTICAL HEALTH
SOURCE: Abacus Health Products, Inc.
Copyright Business Wire 2019.
PUB: 11/04/2019 09:07 AM/DISC: 11/04/2019 09:07 AM