Cannatrek seeks to streamline the process for Australian medicinal cannabis patients, while greatly enhancing the patient journey through their revolutionary new healthcare app.
Cannatrek is currently running an equity campaign via OnMarket, with an offer of fully paid ordinary shares in Cannatrek Limited at $0.35 per share to raise a maximum of $2.5 million, as it launches its new healthcare app. Cannatrek's campaign has attracted significant funds in just a few days, having already raised over $1.5 Million.
The current Australian medicinal cannabis industry is growing rapidly, and SAS-B approvals are climbing to new heights regularly, meaning that more patients are gaining access to cannabinoid medicines for their ailments.
Moreover, last week the Health Minister Greg Hunt announced that the telehealth service, which allows for bulk-billed consultations to occur online and over the phone, will be made permanent within the Medicare system.
The news follows the growing necessity during COVID-19 for patients to have access to doctors without needing to physically go in for a consultation, which hugely benefits older and regional patients, as well as the general public.
Already, the scheme has seen 40 million online consultations amid the COVID-19 pandemic, which shows the increasing demand for virtual doctor visits.
The move toward a telehealth model may prove hugely beneficial for medicinal cannabis patients, as one primary barrier identified in last year's senate inquiry into the challenges facing the industry is an inability to find doctors who will prescribe cannabis medicines. Now, rather than simply hope their local doctor will prescribe medicinal cannabis, prospective patients can find doctors who are not only willing, but experienced in prescribing it for them.
However, issues still remain across the broader medicinal cannabis industry.
One of the major issues facing the industry, which also contributes to the reluctance from doctors in prescribing cannabinoid medicines, is that according to the TGA:
"In many cases, there are very limited data from which to draw specific recommendations for treatment."
As such, there is currently somewhat of a "scattershot" approach to prescribing cannabis medicines; there are hundreds of strains, many varying ratios of cannabinoids such as THC, CBD, CBN and so forth, leaving doctors to test out varieties of cannabis medicines and hope for the best.
Clearly, this isn't the best – or most comfortable – approach for doctors or patients to go through.
So, in response to this issue (and several others), Cannatrek is implementing an online platform that could revolutionize the cannabis industry both in Australia and abroad.
In keeping with their business model of 'Seed-to-Patient' that focuses on approval, access and affordability, Cannatrek is uniquely vertically-integrated, with an operational 3,200 square-metre facility in Queensland, allowing the company to annually produce 3 to 5 tonnes of medicinal cannabis to service Australian patients and provide best-of-value healthcare.
In order for patients to access these medicinal cannabis services, Cannatrek has produced a digital platform that will streamline the medicinal cannabis prescription process, beginning with Cannatrek Access.
Cannatrek Access is an online booking service, providing users with easy access to doctors specializing in medicinal cannabis and online referral service for telehealth consults and e-scripts.
Patients can simply answer a few questions on their condition, determine if they are eligible for medicinal cannabis, have an online telehealth consultation with a doctor, who may then issue them a prescription.
From there, patients can use another component of Cannatrek's online platform, Cannatrek Plus, to redeem their prescription as well as keep track of their approvals and prescriptions.
Cannatrek Plus is a digital healthcare platform for Cannatrek patients, doctors, and pharmacists. It provides users with a single point of reference for the entire Medicinal Cannabis journey.
The platform enables secure patient data transfer; product information and a recommendation engine; streamlined SAS-B applications; and access to an online product dispensary. Patients and doctors can collaborate to record and evaluate a patient's progress, access the latest research, and doctors can undertake accredited training through the Australian Institute for Medicinal Cannabis.
Through Cannatrek Plus and Cannatrek Access, patients can access doctors and medicinal cannabis, in addition to keeping track of their approvals and prescriptions virtually.
Perhaps the most revolutionary component of Cannatrek's digital platform is Cannatrek One – an upcoming data collection platform that aims to address the limited data surrounding medicinal cannabis and its effects on different ailments and demographics.
Cannatrek One will work backward from the patient to the doctor and then the grower, in that patients will be able to report which product they've used and for which ailment they have, and how effective it is.
This allows Cannatrek to accrue real-world, patient-reported data, and begin determining which products are most suitable for different ailments, enabling a more precise prescription of cannabinoid medicines moving forward.
Cannatrek One will enable local, reliable, and ultimately publishable research that doctors can rely on to manage expectations of a patient's welfare; to help forecast stock requirement, to identify holes in supply where there is no clear strain or treatment available against demand. The digital healthcare platform also reports back to the growers who will be able to gauge strain performance against real-time data coming in from the market and create or improve strains based on this.
The data collected will be made available as patient-specific information for doctors, as well as general performance indicators based on quantitative information. The data pool will also support the export of specific products or strains in an increasingly competitive global market.
Through this suite of digital platforms, Cannatrek aims to be Australia's leading digital healthcare for medicinal cannabis.
Click here to see Cannatrek's ongoing OnMarket campaign, where you can invest in Cannatrek and become a part of their seed-to-patient journey.
Please consider the offer document and general risk warning before investing.
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