DENVER, Sept. 26, 2019 /PRNewswire/ -- United Cannabis Corporation (OTCBB: CNAB) (the "Company" or "United Cannabis") today announced that it has entered into an agreement with NuAxess 2, Inc., a provider of self-funded health insurance plans, to offer the Company's patented Prana Hemp products and other United Cannabis CBD-centric products to select companies and their employees enrolled in its health plans. NuAxess 2, Inc. (NuAxess) is a wholly owned subsidiary of Quad M Solutions, Inc. a public company (Symbol MMMM OTCBB).
Under the terms of the preliminary agreement, which is subject to completing mutual due diligence, signing a definitive agreement, and board approval, NuAxess will endorse United Cannabis as the exclusive provider of CBD products to its membership for a period of 5 years.
The NuAxess Smart Plan is a self-funded, consumer driven, and value-based health insurance solution for small to mid-size employers, freelancers and other alternative workers who are part of the emerging 'gig' economy.
Traditional insured health plans are typically inflexible, costly and do not provide adequate insurance, whereas value-based health care encourages wellness in conjunction with new therapies and treatments as well as financial incentives. NuAxess offers members comprehensive major medical health insurance coverage and open access to medical providers of their own choosing at affordable rates.
According to a report commissioned by the Freelancer's Union, the gig economy currently comprises over 60 million people, and by 2027, contract workers are forecast to account for the majority of the U.S. workforce. Generation X and Millennials are driving this trend, and their reliance on technology, innovation and consumerism is changing the status quo in the healthcare industry in a similar way.
Clifton Lambreth, Chief Marketing Officer at United Cannabis, commented on the partnership, "NuAxess' progressive approach to providing small employers comprehensive major medical health insurance benefits resulted in a disruptive solution to the multi-billion-dollar insurance sector that has clung to the status quo for decades. Together we're continuing that mission to innovate by establishing the first public partnership between the emerging legal cannabis industry and the emerging market of self-insuring small employers."
"NuAxess members are looking for health care tailored to their individual needs, not driven by market conventions. By offering United Cannabis' Prana Hemp line with the NuAxess Smart Plan, members and their providers will have direct access to our proprietary products as well as to the relevant information they need to incorporate CBD as part of their healthcare regimen."
Earnest Blackmon, the Company's CEO, added, "This partnership - the first of its kind to our knowledge – demonstrates how United Cannabis' out of the box thinking advances our mission to help people live healthier lives. It is amazing how much can get done when industries work together to improve true consumer-driven health processes. This partnership is a paradigm shift, and we look forward to discovering other ways for United Cannabis to lead our industry as more states legalize the use of CBD and its positive aspects are observed and documented."
Pat Dileo, Chief Executive Officer at NuAxess2, Inc., continued, "Over the past year we've seen tremendous consumer interest in CBD products as a homeopathic alternative to treating conditions that previously relied solely on pharmaceutical intervention. Surprisingly the interest is also coming from the providers themselves who seek approval from the insurance payers."
"In keeping with our mission to support a consumer driven health care solution for small employers by delivering effective, best-in-class efficacious solutions, we decided to partner with United Cannabis. Their track record with patients, providers, scientists and regulators is impeccable, and being a public reporting company gives us the comfort to endorse their products for sale across our platform. We're adding United Cannabis' CBD Prana Hemp products to our value-based health care plans because I am confident that our members will find them beneficial. Just as they deserve to choose their providers, they deserve the right to choose their healthcare solutions, too," Dileo concluded.
About Quad M Solutions, Inc.
Quad M Solutions, Inc., (OTC Symbol – MMMM) is a reporting public holding company with two wholly owned subsidiaries, PR 345, Inc. dba Quad M Staffing, and NuAxess 2, Inc. Together, they provide sustainable solutions to the health insurance and employee benefits challenges faced by millions of small to medium sized employers and their employees seeking affordable and sustainable health insurance plans. Quad M Solutions has developed a proprietary eco-system of products and services with a focus on total transparency and consumer driven healthcare. Since the patient-doctor relationship is centric to achieving better outcomes and positions, Quad M, as a true disruptor, needed to innovate in a status-quo, non-competitive insurance industry monopolistic environment.
NuAxess provides innovative health insurance and employee benefit consulting targeting employers which are mostly currently fully insured and generally have less than 500 employees. NuAxess facilitates a company's efforts to self-insure their employees' health insurance plans. Through the development of strategic business partnering NuAxess remains vital and relevant in technology and medical advances to lower insurance premium costs while offering more choices and benefits, along with demanding greater responsibility by the employee. It financially rewards employees with incentives, thus creating true consumer driven healthcare. The NuAxess Smart Plan is a proprietary value-based health care plan that provides employers/employees and their chosen medical providers the ability to be and stay well.
About United Cannabis Corporation
United Cannabis Corporation is a biotechnology company dedicated to the advancement of cannabinoids for medical applications and is building a platform for designing targeted therapies to increase the quality of life for patients around the world. The Company develops, produces and distributes proprietary cannabis-centric products and technologies, including its patented product brand, Prana Bio Nutrient Medicinals, and has established a strong presence in the hemp-derived CBD market, with a state-of-the-art grow, processing, testing and production facility in Colorado. United Cannabis also licenses its intellectual properties relating to the legalized growth, production, manufacture, marketing, management, utilization and distribution of medical and recreational marijuana and marijuana-infused products. Most importantly, United Cannabis is always driven by its underlying mission to help people in pain.
United Cannabis trades on the OTCQB under the symbol CNAB.
For further information, please visit www.unitedcannabis.us.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933, are subject to Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbors, created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and other results and further events could differ materially from those anticipated in such statements. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements.
SOURCE United Cannabis Corporation