Emerald Organic Products Signs Term Sheet to Form Health Benefits Joint Venture with Health Services Hub

Holbrook, New York, Aug. 06, 2020 (GLOBE NEWSWIRE) -- Emerald Organic Products Inc. (OTC: EMOR) (the “Company”, "Emerald", or "Emerald Organic Products"), an integrated health technology company, is pleased to announce that, further to its August 3, 2020 press release regarding the Company’s vision, key business-building strategies and new developments, it has signed a Term Sheet (the “Term Sheet”) to form a Joint Venture with Health Services Hub (the “Joint Venture”), an established ancillary benefits administrator.

Health Services Hub is one of the leading care benefits management platforms.  Health Services Hub offers employers, TPAs, alumni, affinity groups and consumers a suite of centralized tools for easy access to their care benefits; on-demand expert health advice, health and wellness assessment programs and more, all through a fully-integrated, user-centric interface. 

By co-bundling product and benefit offerings, the Company’s highly scalable infrastructure will provide same-day last mile prescription and OTC drug delivery services to the Health Services Hub product suite and allow for cross-promotion and cross-marketing of additional health and wellness benefits.

"This is a unique opportunity to combine two innovators in the healthtech industry who seek to defragment the care continuum, thereby driving patient value and enabling consumers to take action on their own health care decisions," said Ian Parker, Chief Executive Officer of Emerald Organic Products. "Ours and Health Services Hub’s offerings are being integrated harmoniously and, together, will provide greater end-user experiences, improving benefit packages for customers and employers alike."

Health Services Hub currently has over 1,500,000 lives on the platform from various groups.

This Joint Venture brings a strong, highly accretive distribution network, and a sophisticated patient enrollment portal that enables efficient and modernized benefits administration, strengthening the Company’s position in the fragmented health and wellness benefits market.

"Partnering with Health Services Hub helps us to build upon our goal of offering a broad suite of solutions to our pharmacy and telehealth partners, all with a common goal of providing patients with better access to consistent, high quality care at a fair price," added Parker.

Chris Barr, Founder of Health Services Hub, commented, "For years, Health Services Hub has focused on making employer benefits simpler to access and easier to understand.  Marrying both company's innovative engagement strategies, technology and service offerings will deliver on our shared goal of providing the highest quality and value benefits.  Our suite of benefits coupled with our robust user lifetime value cements our position as leaders in the healthtech market."

About Emerald Organic Products, Inc.

Soon to be known as Carie Health, Inc., Emerald Organic Products' objective is to build, as well as acquire, technology that touches people at the most important points of their lives. Carie, through its subsidiaries, uniquely combines virtual care capabilities with digital pharmacy and prescription delivery offerings in a streamline ecosystem to democratize and defragment patient access to products and services within the healthcare continuum.

For more information, please visit https://www.emerald-organic.com/https://www.carie.com/, https://www.carierx.com, and https://carieglobal.com/

Forward-looking Statements

Certain statements contained in this press release may constitute forward-looking statements. For example, forward-looking statements are used when discussing our expected research and development programs and more. 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 but not limited to the risks and uncertainties related to the progress, timing, cost, and results of Partnerships and product development programs; difficulties or delays in obtaining regulatory approval or patent protection; and competition from other companies. 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, Carie Health, Inc., f.k.a. Emerald Organic Products, Inc., undertakes no 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.

Ian Parker
Emerald Organic Products Inc.
1-855-540-0354
iparker@carie.com
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