Evergreen Pacific Insurance Corp. (EPIC), the Toronto-based financial-services holding company, announced it has signed a binding agreement to acquire a majority interest in Synergy Health Services, subject to completion of customary due diligence.
Financial details of the transaction were not released.
Established in 2012, Synergy Health Services Inc. owns and operates two multidisciplinary wellness centers in Ontario, Canada, which combine traditional medical pain management along natural therapies such as physiotherapy, yoga, massage, nutrition and medical cannabis.
“Synergy Health Service’s care philosophy is aligned with EPIC’s focus on improved patient outcomes,” said EPIC CEO Robert Wilson.
“The addition of Synergy to the EPIC family of companies incorporates complementary and alternative health leadership including the clinical application of natural pain solutions and cannabinoid therapeutics,” Wilson continued.
“Dr. Ira Price, the founder of Synergy Health Services, is a recognized leader in the development of protocols for the clinical application of cannabinoids,” he noted.
On June 14, EPIC subsidiary Markers Insurance announced it will introduce Canada’s first guaranteed issue insurance product for individuals providing coverage for medical cannabis prescriptions.
Mr. Wilson commented: “Similar to the way dentists are reimbursed by dental care insurers, licensed medical cannabis producers will be paid directly by the insurer and patients will never be out of pocket for the cost of their prescriptions. The policies we offer will be customized to each insured’s actual requirements with no caps or restrictions based on pre-existing conditions.”
“Synergy Health Services is excited to become a member of the EPIC family,” said Price. “Synergy has long believed that insurance coverage for patients seeking natural care treatment options will be a game changer.”
Evergreen Pacific Insurance Corp. owns, operates, and invests in businesses involved in designing, developing and distributing innovative insurance products and risk management solutions.
Source: Evergreen Pacific Insurance Corp.
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