Pathway Health (PHC) Leading the Way Treating Chronic Pain
Pathway Health Corp (CVE:PHC) only went public on the TSX Venture Exchange about a month ago but is already making a name for itself as one of the largest providers of chronic pain services in Canada.
People often underestimate chronic pain conditions statistics. One in five people is currently suffering from chronic pain that affects their quality of life. As we know from our coverage of cannabis and psychedelics companies, current/traditional pharmaceutical drugs are being proven to be inefficient and are often more expensive than alternatives. The direct and indirect costs associated with chronic pain are more than $50 billion each year. That is more than cancer, diabetes, and heart disease costs combined. There is also a real shortage of chronic pain doctors in Canada, and as a result, the waitlist to see a specialist can be up to three years.
Pathway Health has made it its mission to make a difference for chronic pain sufferers who need more than what is available today.
“Over the last few years, we have established a comprehensive ecosystem of treatment modalities where we provide personalized care to give our patients what they need to get their lives back. Our expertise and experience allow us to tailor treatment plans to the specific needs of each patient and today we provide pain care services through a growing network and clinics in 4 provinces. We also operate the largest medical cannabis telepath network in the country.” – Pathway Health President Wayne Cockburn
Pathway Health has a variety of modalities for chronic pain patients to receive the care they need. First, Pathway Health owns and operates nine pain clinics serving an active base of over fifty thousand patients. These clinics are also looking to expand their interventional pain model to include ketamine infusions, image-guided therapies, and more. Next, Pathway Health is the largest medical cannabis telehealth network in Canada. Last but not least, Pathway Health is a leading partner with Canadian pharmacy companies for medical cannabis.
Recently, Pathway Health has signed a collaboration agreement with Sobeys and PharmaChoice pharmacies. This gives Pathway Health access to over 2,400 pharmacy locations and stores in all ten Canadian provinces. Not only that, Pathway Health is working with these large retail companies to deliver cannabis education programs to their pharmacists and design their platforms for pharmacist referrals for chronic pain. These relationships also provide a massive opportunity: by helping build pharmacy product lines, the retail locations could provide Pathway Health with revenue for every CBD product sold in those pharmacies. To understand how big that opportunity could be, it is estimated that the Canadian CBD market alone could be worth up to $2.5 billion in the next couple of years.
Watch the full interview to learn the multi-faceted business model of Pathway Health, its accretive growth strategy, and how near the company is to profitability as they have increased revenues by 2,000% in just three years.
00:58 – Pathway Health overview
03:32 – Pain management using cannabis
03:56 – Personalized treatment
04:35 – Ketamine infusions
05:12 – Number of patients
05:54 – Financial picture (cashflow & profitability)
06:38 – Most lucrative business silo
07:31 – Competition
08:23 – Growth strategy