Premier Health Group Inc. (PHGI:CSE; PHGRF:OTCQB; 6PH:FSE) announced in a news release it launched a strategy to expand its footprint in the medical cannabis industry internationally.
Its approach is to educate physicians about medical marijuana through the adjunct software embedded in its electronic medical records (EMR) platform. It is working to sell its EMR product in the quickly growing medical cannabis markets around the world, including the United States, the United Kingdom and Australia.
Today, according to the company release, medical cannabis is legal in about 30 countries in some capacity. A handful of others also allow its use on a strictly limited basis, as in cannabis-derived pharmaceuticals only.
The announcement notes the global medical cannabis industry is expected to generate about $40.9 billion by the end of 2024, according to Zion Market Research. The EMR market is expected to grow to $30.4 billion by 2023, P&S Market Research showed.
Premier stated a gap exists, particularly in countries lagging behind Canada in their adoption of medical cannabis, between patients' needs and/or desires and primary care physicians' comfort level with medical cannabis, as well as their being knowledgeable enough to prescribe it.
Premier Health aims to bridge that divide by educating physicians with the data and tools available through its EMR software, which will help them prescribe the most appropriate cannabis product at the ideal dosage. "By innovating and integrating these increasingly in demand capabilities, Premier Health will be equipped to significantly increase its market share of the $30 billion EMR market," CEO Dr. Essam Hamza said in the release.
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