Holbrook, NY, March 27, 2020 (GLOBE NEWSWIRE) — Emerald Organic Products, Inc. (OTC: EMOR) (“Emerald”, “Emerald Organic”, or “Emerald Organic Products”) a diversified health sciences company, today announced it has signed a Plan of Merger Agreement with Bonsa Health, a leading digital pharmacy capable of same day delivery of Rx medications anywhere in the United States. Under the terms of the acquisition, Emerald will take a 51% controlling stake in Bonsa in an all stock transaction.
In the age of technological advances and need for modern convenience, Bonsa offers an all encompassing tech-driven digital solution that creates an effective, secured communication line between providers, patients, and pharmacists to expedite prescription fulfillment and same day delivery. Bonsa is expecting to enhance its current same-day delivery to offer 3-hour national delivery by January 2021.
Bonsa’s HIPAA compliant platform and user-friendly interface allows patients to look up pharmacy coverage options, prescription availability and discounts before ending the doctor’s consultation. By eliminating the need to visit the pharmacy, Bonsa’s service promotes social distancing in this critical time. Additionally, this process eliminates prescription abandonment, long wait times and unexpected cost surprises at the pharmacist’s window.
Emerald Organic’s CEO Ian Parker believes that this solution is a crucial step toward streamlining and enhancing the patient experience. “Rather than positioning patients on the outside of the healthcare circle, Bonsa gives patients the ability to monitor the entire pharmacy process. What Alpesh Patel and his impressive team have built, quite simply, brings the pharmacy to the patient.”
The developer behind Bonsa, Alpesh Patel, has a strong background in pharmacy and fully understands the industry’s shortcomings. “We designed a multi-purpose digital platform that would benefit patients while providing practical support for doctors and pharmacies. I have no doubt that we have chosen the perfect partner in Emerald Organic to further expand the Bonsa user base and facilitate its growth.”
This integrated system connects a network of fully trained and screened professional couriers nationwide. All parties can track the chain-of-custody through mobile-friendly status updates and confirmation receipts in real-time, from pharmacy to doorstep.
Additionally, Bonsa facilitates complimentary virtual pharmacist consultations, and instant communication lines with providers to handle medication change requests (MCR) or prior authorization (PA) needs.
“This is just the beginning of our business model vision,” Mr. Parker added. “We expect that with the increasing need for telemedicine, patients will soon be able to consult their doctor and have their prescription delivered on the same day, all from the comfort of their own home.”
Parker continue, “With the addition of the Bonsa business and their far-reaching pharmacy capabilities, we are one step closer to a potential remote use protocol for certain types screening tests, which Emerald plans to submit for FDA review when ready. One of our goals is to quickly develop a protocol that would allow for Bonsa to deliver Covid-19 screening kits directly to the safety of peoples homes and have the test remotely administered under the supervision of a medical professional. This could be a game-changer in the race to relieve pressure on medical facilities, and help to contain the Coronavirus (Covid-19).”
About Emerald Organic Products
Based in New York, Emerald Organic Products, Inc. (OTC: EMOR), is a diversified health sciences company focused on providing consumers with one of the most robust health and wellness offerings available today. Through its subsidiaries, Emerald is dedicated to both bringing to market, and improving access to, holistic and FDA-regulated products and services. These include high-quality dietary supplements from its flagship brand, Pura VidaTM, as well as a forward-looking program known as EmeraldShieldTM, which will provide healthcare professionals with a full suite of solutions to transform healthcare through the lenses of convenience and mobility for the patient. In Q4 2019, Emerald Organic Products established Emerald Organic Life Sciences, LLC. to develop biopharmaceutical assets licensed from Amarantus Bioscience Holdings, Inc. (OTC: AMBS). For more information, please visit emerald-organic.com. Emerald recently formed a joint venture with Todos Medical USA, Inc (OTC: TOMDF) for the purpose of distributing certain novel coronavirus (COVID-19) test kits.
About Bonsa Health
Bonsa Health was designed to put patients at the center of the healthcare circle, giving them the ability to make better, more affordable prescription refill decisions. Built on a brand-new, technologically advanced “hub-style” framework, Bonsa operates at the intersection among medication manufacturers, prescribing physicians, and independent pharmacists to ensure that customers receive the medications they need at the most competitive prices available. Many Bonsa prescriptions qualify for free delivery via ScriptDrop within 3-hours of order placement. Learn more at http://www.bonsahealth.com.
Certain statements contained in this press release may constitute forward-looking statements. For example, forward-looking statements are used when discussing our expected clinical development programs and clinical trials. These forward-looking statements are based only on current expectations of management, and are subject to significant risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements, including the risks and uncertainties related to the progress, timing, cost, and results of clinical trials and product development programs; difficulties or delays in obtaining regulatory approval or patent protection for product candidates; competition from other biotechnology companies; and our ability to obtain additional funding required to conduct our research, development and commercialization activities. In addition, the following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: changes in technology and market requirements; delays or obstacles in launching our clinical trials; changes in legislation; inability to timely develop and introduce new technologies, products and applications; lack of validation of our technology as we progress further and lack of acceptance of our methods by the scientific community; inability to retain or attract key employees whose knowledge is essential to the development of our products; unforeseen scientific difficulties that may develop with our process; greater cost of final product than anticipated; loss of market share and pressure on pricing resulting from competition; and laboratory results that do not translate to equally good results in real settings, all of which could cause the actual results or performance to differ materially from those contemplated in such forward-looking statements. Except as otherwise required by law, Emerald Organic Products, Inc. does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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