Ehave enters lucrative Market Slated to Grow from $34.28 billion in 2018 $185.66 billion by 2026
MIAMI, FL – June 1, 2020 - Ehave, Inc., (OTC Pink: EHVVF) (the “Company”), a provider of digital therapeutics delivering evidence-based therapeutic interventions to patients, announced today announced it has signed a letter of intent to acquire 51% of MDLink a Caribbean Telemedicine provider, MDLink Limited ("MDLink"), a company organized and existing under the laws of Jamaica. Mdlink is licensed for all CARICOM Countries which include Antigua and Barbuda, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, Saint Kitts, Nevis, Saint Lucia, Saint Vincent, Rhe Grenadines, Suriname and Trinidad and Tobago. Mdlink currently has over 10,000 patients. The terms of the agreement require Ehave to develop a platform for MDLink Mental Health Therapy.
MDLink is the pioneer of Telemedicine and the only operational Telemedicine platform in the region. Founder and CEO, Dr. Ché Bowen, launched MDLink in 2017 and has since spearheaded the Telehealth movement through the region. MDLink provides services in Psychiatry, General Practice, Urgent Care and Dermatology. MDLink was the first to have a partnership with a regional telecommunications company- Cable & Wireless/Flow. With more than 10,000+ registered patients, MDLink is the first telemedicine provider to launch a COVID-19 A.I. Chatbot in the region next month, “MD Lex.” Additionally, MDLink is a member of the Psychiatric Association of Jamaica.
Millions of patients around the world are already consulting with physicians online, and Telemedicine has proven to be a safe, effective and more convenient option to access healthcare. MDLink provides the best online security for patients’ health information using HIPAA guidelines. MDLink will integrate Ehave’s dashboard and Ehave’s licensed MylifeID into its Telemedicine platform to have patients’ medical records at its fingertips.
Ehave will be implementing MDLink Mental help to take advantage of the growing medical tourism and psychedelic retreats as Jamaica is ground zero for psychedelic activity.
Today, more than 300 million people suffer from depression worldwide, with about 100 million of whom do not respond to available treatments. Psychedelic medicine offers the potential to revolutionize the mental health industry and is witnessing staggering growth. Ehave will be positioned to meet the needs of the over 90+ psychedelic clinics and 30 million underground psychedelic users. The company’s platform will allow mental health specialists to provide psychedelic aftercare along with addiction, and holistic wellness services and programs though use of Ketamine, Psilocybin, Ayahuasca and other available psychedelic treatment.
The global telemedicine market size is expected to grow from $34.28 billion in 2018 $185.66 billion by 2026, according to a recent report by Fortune Business Insights. Research firm Global Market Insights, Inc. predicts the following trends in the Telemedicine market:
Increasing cases of COVID-19 infection across the globe and growing influence of social distancing will drive the market.
Increasing need to lower the overall healthcare cost and technological advancements will be conducive to the market growth.
Tele-monitoring services will be increasingly adopted to lower the burden on medical fraternity.
Minimizing the spread of COVID-19 infection among healthcare staff will lead to growth in the telehospital segment growth.
Neurology segment will witness significant growth across the forecast timeframe.
Growing importance of social distancing and self-quarantine will lead to increase in the number of virtual calls.
Some of the prominent players operating in the e-health market are Allscripts Healthcare Solutions Inc., AMD Global Telemedicine, Telus Corporation, Teladoc Health, Medtronic PLC, Anthem, Inc., CVS Health Corporation, Benefytt Technologies, and Humana Inc.
In November of 2010 Prof. Victor S. Dorodny, MD (Ehave’s Advisory Board member) realigned his then 17-year-old health care policy, economics and information technology consulting company to refocus on health information technology (HIT) and Telehealth. Prof. Dorodny's expertise and enthusiasm foster strategic partnerships between HIT manufacturers, medical service providers, consumers, and payors.
“The current Global health care system needs to expand the use of Health Information Technologies (HIT) and Telemedicine. The system emerged in the wake of latest health care legislation will crash without it,” says Dr. Victor Dorodny. “Adding millions of health care consumers, while mandating extended coverage, combined with increased demand for health care from the aging baby boomers is straining the system at the seams. Telemedicine seems to be our best viable alternative to provide health care for the ever growing needs of the consumer, especially the chronically ill and aging. I have no doubt that health care delivery in the World will change dramatically in the next ten years through the adoption of telemedicine. We are in the convergent space defined by medicine, information, and technology, and plan to work hard on integrating them for the benefit of the health care system. Ehave, by acquiring the controlling package of MDLink, becomes a real player in the field, with array of offerings that are complementary for/to provision of Telemed/Telehealth services".
MDLink Founder and CEO, Dr. Ché Bowen said, “We are pleased to partner with Ehave as we are confident in the work of their superior team of experts in both the Digital Health and Mental Health sectors. Dr. Bowen strongly believes that mental health is a very prominent yet neglected patient population and as such he is looking forward to helping more patients via MDLink.”
Ben Kaplan, CEO of Ehave, Inc. said, "By adding the MDLink network and expertise, Ehave can further expand into Clinical trials of Psychedelics and enhance our mental and behavioral health programs, an exciting and important endeavor that will positively impact patients, their families, and the treatment teams providing their care, while advancing clinical outcomes and reducing overall costs." he said.
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About Ehave, Inc.
Ehave, Inc. is a provider of digital therapeutics delivering evidence-based therapeutic interventions to patients. Our primary focus is on improving the standard care in therapeutics to prevent or treat brain disorders or diseases through the use of digital therapeutics, psychedelics, independently or together, with medications, devices, and other therapies to optimize patient care and health outcomes meeting privacy and HIPAA & GDPR Compliant. Our main product is the Ehave Dashboard which is a mental health informatics platform that allows clinicians to make objective and intelligent decisions through data insight using Blockchain technology. The Ehave dashboard offers Offline Encrypted Digital Records Empowering Healthcare providers and patients and it's a powerful machine learning and artificial intelligence platform using artificial intelligence to extract deep insights from audio, video and text to improve research with a growing set of advanced tools and applications developed by Ehave and its leading partners. This empowers patients, healthcare providers, and payers to address a wide range of conditions through high quality, safe, and effective data-driven involvement with intelligent and accessible tools.
Forward-Looking Statement Disclaimer
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements: (i) the initiation, timing, progress and results of the Company’s research, manufacturing and other development efforts; (ii) the Company’s ability to advance its products to successfully complete development and commercialization; (iii) the manufacturing, development, commercialization, and market acceptance of the Company’s products; (iv) the lack of sufficient funding to finance the product development and business operations; (v) competitive companies and technologies within the Company’s industry and introduction of competing products; (vi) the Company’s ability to establish and maintain corporate collaborations; (vii) loss of key management personnel; (viii) the scope of protection the Company is able to establish and maintain for intellectual property rights covering its products and its ability to operate its business without infringing the intellectual property rights of others; (ix) potential failure to comply with applicable health information privacy and security laws and other state and federal privacy and security laws; and (x) the difficulty of predicting actions of the USA FDA and its regulations. All forward-looking statements included in this press release are made only as of the date of this press release. The Company assumes no obligation to update any written or oral forward-looking statement unless required by law. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is contained under the heading "Risk Factors" in Ehave, Inc.’s Registration Statement on Form F-1 filed with the Securities and Exchange Commission (SEC) on September 24, 2015, as amended, which is available on the SEC's website, http://www.sec.gov.
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