Alternate Health Launches First Ever Cannabis Blockchain Transaction Ledger
TORONTO, Sept. 27, 2017 /PRNewswire/ - Alternate Health Corp. ("Alternate Health" or the "Company") (CSE:AHG) (OTC:AHGIF), an international medical cannabis company that uses best-in-class technology, research, education, production and laboratories to increase the awareness, regulatory compliance, and appropriate usage of cannabinoids in modern medical practices, today announced the rebranding of its CanaCard software to the CanaPass Patient Management System with the goal of integrating mobile technology and provide blockchain ledger for the purposes of transparency and accountability.
"The evolution of CanaPass is a natural step forward in Alternate Health's software development, as we continuously update and adapt the system to changes in technology," says Dr. Michael Murphy, CEO of Alternate Health. "CanaPass represents a shift from a card-based system to embrace advances in mobile and cloud computing, unlocking significant potential for growth. And using blockchain ledger creates the accounting necessary for both State and Federal governments to embrace our technology."
The CanaPass system is a cloud-based software platform that manages the end-to-end transactions involved with providing safe access to medical and recreational cannabis (where applicable) to eligible patients and customers. The database is accessible by the patient, certified doctors and licensed producers only linked through a seamless Health Insurance Portability and Accountability Act ('HIPAA') compliant ledger, and is used to monitor the individual patient and provide enhanced treatment recommendations, with a focus on improving patient outcomes. HIPAA compliance involves protecting access to health information such as patient records, treatment and operations. The HIPPA stipulates that patient data must be protected with secure networks and procedures to prevent people from accessing health care information without consent. The blockchain ledger represents the final missing ingredient to create full open accountability.
Through Alternate Health's recent agreement with National Access Cannabis (TSX:NAC), CanaPass is in the process of being deployed across Canada. The CanaPass system will launch in all nine NAC clinics starting in October, and will also be used in any new locations as NAC expands. The CanaPass system is also developed to support full compliance for the distribution and transactions for recreational cannabis.
"The CanaPass brand reinforces our leadership position in practice management and electronic records for controlled substances," says Dr. Murphy. "Alternate Health's commitment to providing the most advanced and up-to-date software solutions is just one of many reasons the American Medical Marijuana Physicians Association (AMMPA) has endorsed CanaPass with the open accountability for the administration of controlled substances. We expect CanaPass to begin to generate significant revenues in the fourth quarter."
About Alternate Health Corp.
Alternate Health Corp. (CSE:AHG, OTCQB:AHGIF) is an international medical cannabis company that uses best in class technology, research, education, production and laboratories to increase the awareness, regulatory compliance, and appropriate usage of cannabinoids in modern medical practices. The company is strategically positioned in all facets of the medical cannabis value chain through the innovative integration of proprietary technology and know-how, acquisitions and partnerships, deep direct knowledge of, and experience with improving patient outcomes, and management expertise.
Alternate Health is well positioned to reinvest internal operating cash flow in its platform over the long term, creating an attractive investment profile for its shareholders. The Company is headquartered in San Antonio, Texas, with operations in Los Angeles and Toronto.
Alternate Health resides in the cannabis sector along with companies like GW Pharmaceuticals (OTCMKTS:GWPRF), AXIM Biotechnologies Inc. (OTCMKTS:AXIM), Canopy Growth Corporation (TSE:WEED), and Aphria Inc. (TSE:APH). The difference with Alternate Health is their focus is on servicing regulatory providers as opposed to marketing a commodity.
For more information about Alternate Health Corp., visit www.alternatehealth.ca
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as "forward-looking statements". Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations, business prospects and financing plans, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements
SOURCE Alternate Health Corp.
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