Recreational Users Will Become Medical Users
MIAMI, FL / ACCESSWIRE / November 2, 2016 / Novus Acquisition and Development, Corp. (OTC Markets: NDEV), the nation's first
healthcare insurance carrier/aggregator in the medical cannabis sector demonstrates how their MedPlan will capture market share of
recreational users and convert them to medical users in California.
With the impending approval of Proposition 64 in California, Novus has put into operation, through their insurance subsidiary
WCIG Insurance Services, Inc., a supplemental Workers Compensation Program that will include medical marijuana for patients in the
State of California.
How the MedPlan was derived was based on the Workers' Compensation Insurance Rating Bureau's Actuarial assessment, that workers'
compensation premiums in California continue to grow at double-digit rates. The state's workers' comp written premium accounts for
more than a quarter of the U.S. total, but only 12 percent of America's workforce, according to the report. Additionally, to make
matters worse, the California coverage compares poorly with the rest of the nation
How does California's workers' comp and Novus' supplemental medical marijuana insurance coverage benefit patient and employers
interests? Four principal factors: a) California has the highest permanent disability claims in the nation with an inherent on
going pain management crisis, b) the state has among the highest claims in terms of medical costs, c) it has a high cost of
delivering insurance benefits and; d) another driver of California's higher premiums is the state's medical treatment costs.
How we approached solving the problem is by implementing a supplemental workers compensation program with Novus' infrastructure
with California marijuana dispensaries. Then instrumentally delivering a supplemental worker's compensation plan will ease insurers
and employers burdens by allowing Novus to procure, in network, a consortia of physicians that will take in patients, generate more
medical marijuana recommendations for the protocol for pain management and other aliments to ease suffering. What makes this of
value for insurers and employers is that California worker's compensation premiums will decrease losses because medical marijuana
and Novus premiums are affordable.
Once the ballot initiatives in California is approved under Proposition 64 Novus will take advantage of three areas a) the
abatement of taxation for medical marijuana cardholders b) many doctors are approving medical cannabis and writing recommendation
forms for patients because of, c) the opioids crisis, many California doctors are writing less prescriptions for opioids and
combining it with medical cannabis for pain management. The end result will be that Novus will get an increase in patient/member
signups from the overlapping of recreational users that become medical users under this program.
The graphic below shows the percentile range and the overlying of cannabis users in medical (33%) versus recreation (55%) users,
coinciding with worker's comp claims, which is estimated at 12%.
NDEV 2nd Quarter Financial Filing: http://bit.ly/2cJ3Efj
About Novus
Novus Acquisition & Development Corp. (NDEV), through its subsidiary WCIG Insurance, provides health insurance and related
insurance solutions within the wellness and medical marijuana industries in states where legal programs exist. Novus has positioned
itself to gain market share within many lines of insurance business within and outside of the MMJ sector.
Novus will work as outside developers and will not cultivate, handle, transport grow, extract, dispense, put up for sale, put on
the market, vend, deliver, supply, circulate, or trade cannabis or any substances that violate the United States law or the
Controlled Substances Act, nor does it intend to do so in the future and will continue to follow state and federal laws. The
statements made about specific products have not been evaluated by the United States Food and Drug Administration (FDA) and are not
intended to diagnose, treat, cure or prevent disease. All information provided on these press releases or any information contained
on or in any product label or packaging is for informational purposes only and is not intended as a substitute for advice from your
physician or other health care professional. Once a push notification is competed the transaction is solely between the
state-licensed dispensary and the registered patient.
The state laws are in conflict with the federal Controlled Substances Act. The current administration has effectively stated
that it is not an efficient use of resources to direct federal law enforcement agencies to prosecute those lawfully abiding by
state designated laws, allowing the use and distribution of medical marijuana. However, there is no guarantee that the current
administration, nor any future administration, will not change this policy and decide to enforce the federal laws strongly. Any
such change in the federal government's enforcement of current federal laws could cause significant financial changes to Novus
Medical Group. While we do not intend to harvest, distribute or sell cannabis or cannabis related products, we may be harmed by a
change in enforcement by federal or state governments.
- For more information, check out: http://www.getnovusnow.com - For NDEV
2nd Quarter Financial Filing: http://bit.ly/2cJ3Efj - Learn How Insurance Companies Are Evaluated: http://bit.ly/2ddIYva
Forward-Looking Statements
This release includes forward-looking statements, which are based on certain assumptions and reflects management's current
expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results
or events to differ materially from current expectations. Some of these factors include: general global economic conditions;
general industry and market conditions and growth rates; uncertainty as to whether our strategies and business plans will yield the
expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve
commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy;
changes in laws and regulations, includes codes and standards, intellectual property rights, and tax matters; or other matters not
anticipated; our ability to secure and maintain strategic relationships and distribution agreements. Novus Medical Group disclaims
any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future
events or otherwise.
Contact Information
Corporate: Chairman and CEO Frank Labrozzi frank@ndev.biz 855-228-7355
Investors: Hayden IR hart@haydenir.com 917-658-7878
SOURCE: Novus Acquisition and Development, Corp.