Permanently expanding the private delivery of public health services aligns
with Company's long-term growth plan
TORONTO, Jan. 18, 2023 /CNW/ - Shiny Health & Wellness Corp. ("Shiny Health" or the "Company") (TSXV: SNYB) is pleased to welcome the Ontario government's new plan, announced on January 16, 2023, revealing permanent legislative changes which allow private health clinics in the province to perform publicly-funded surgeries and health procedures to improve patient backlog and wait times. This decision follows other recent legislation, which came into effect on January 1, 2023, allowing Ontario pharmacists to assess and prescribe medications for 13 common ailments.
"Ontarians have long felt that health care services in the province were challenged due to a host of reasons that were made significantly worse during the pandemic with no signs of improvement," said Kevin Reed, Chairman and Chief Executive Officer of Shiny Health & Wellness. "These major changes and investments announced by the Ontario government are expected to create more opportunity for private sector capital and private health service platforms to deliver quality patient-centered care under the Ontario Health Insurance Plan (OHIP) in the safe and timely manner that citizens deserve."
Mr. Reed added, "As our large population ages and seeks a better quality of life, we believe this week's announcement is the start of further collaboration across the healthcare sector that is desperately needed to meet the growing demand in both large cities and remote communities. We believe the further convergence of health and wellness, pharmacies, medical care services, and cannabis is where the growth potential lies for our Company, and we are focused on these opportunities as the province continues to evolve its approach to healthcare. Our pharmacists have already been writing in-store scripts to support our customers since changes came into effect early-January allowing pharmacists to prescribe some medications."
Shiny Health is on a mission to provide Canadians with a premier retail network for their health and wellness solutions so they "Never Settle, Live Fully." First established as a retail cannabis company, Shiny Health broadened its retail growth strategy in May 2022 to focus on a more robust customer-driven health and wellness model by targeting the strategic acquisition of independent retail pharmacies. This retail extension stems from a deep understanding of what customers and Canadians are seeking for their health and wellness needs.
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About Shiny Health & Wellness
Shiny Health & Wellness Corp. is on a mission to help people never settle, live fully by being a trusted source for health and wellness solutions and services. The Company recently broadened its retail growth strategy beyond adult-use cannabis by establishing mihi Health & Wellness, a new line of business focused on building a network of community pharmacies across Ontario. Striving to provide a more diverse and accessible cannabis experience for adult consumers, the Company also operates ShinyBud Cannabis Co., a well-established brand in Ontario strategically located in markets less saturated with cannabis retailers. The Company's board of directors and management team hold extensive retail operating experience, a key competitive differentiator in leading its growth strategy. Shiny Health trades on the TSX Venture Exchange (TSXV) under the ticker symbol SNYB. For more information, please visit www.shinyhealthandwellness.com.
SOURCE Shiny Health & Wellness Corp.
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