PHOENIX, Dec. 11, 2018 (GLOBE NEWSWIRE) -- Uptick Newswire Stock Day Podcast features Ethema Health Corporation (OTCQB: GRST) ("Ethema" "GRST" or the "Company"), a provider of healthcare services including addiction and mental health. Shawn Leon, President and CEO, talked with Stock Day’s Everett Jolly about a new chapter for the company.
“We’ve been in the addiction treatment business for about 8 years now, we started in Canada and operated a Best in Class treatment facility in Canada. We wanted to expand into the US and in 2017 we sold the Canadian business and started the expansion into the US with a facility in Florida,” Leon said at the start of the interview.
Jolly then asked about that facility in Florida. He mentioned it’s an 80 thousand sq. foot facility on over 8 acres with about 175 beds. Jolly asked Leon to bring listeners up to speed. Leon said they have been working on getting the facility since late 2017 and took possession in May of 2018.
“We are now up and fully operating as of mid-October 2018. We have all levels of care, detox, intensive in-patient care, residential care, partial hospitalization, intensive outpatient care and outpatient care,” explained Leon. “It’s been a tough process to get the facility open and to get the staff in place and get everything going we the way we want it, but we are there now and see a lot of great treatment days ahead of us.”
Jolly then asked how the company finds their clientele. Leon explained they do something a bit different than most treatment facilities. He said most facilities advertise to the clients, but they have a more direct approach.
“We go direct to the payer groups, for example the Union group that has a self-directed healthcare plan, we would deal directly with the Union or employer assistance programs that are part of an employer management of their healthcare.” He added, “We are primarily trying to get the groups to recognize us as leaders and Best in Class treatment providers with great value.”
He went on to say they provide a high-quality and effective care at a good price. Jolly said he thinks the company is in the right space because of the opioid epidemic. Leon replied that because of the epidemic, there is a focus on the addiction treatment business in general. He said it’s encouraging that people are recognizing those with addiction need help.
“A lot of the opioid users, are not getting the treatment they need because most of the payers are focused on cost. They cut the treatment stay as short as possible,” he explained. “It takes a much longer period of time to withdraw from and get the opioid addiction out of the body.
He said that why they’ve gone direct to employer groups to explain that it’s better to get it done right the first time instead of trying over and over again. Jolly then asked if they are looking at any of the cannabinoid products, like CBD.
“We’ve been approached my many of the people in the cannabis business,” Leon said. “We ourselves being a treatment center in Florida where these things aren’t legal can’t conduct that kind of research in the US. We think there may be something there but that research has to be done and it will take some time to tell how effective it can be.”
Jolly then noted in 2017 the company did $920,000 in revenue and asked Leon what he saw happening with Ethema in 2019. He said the facility in Florida will generate revenue for the 4th quarter above all of last year.
“The facility at full capacity would generate in the $35 to $40 million revenue range. We don’t know that we’ll fill the facility for the full year 2019, but we expect to get there fairly quickly. We can expect significant improvements to revenue,” said Leon.
To hear the full interview with Ethema’s CEO, listen to the Stock Day Podcast, here. https://upticknewswire.com/featured-interview-ceo-shawn-leon-of-ethema-health-corporation-otcqb-grst-2/
About Ethema Health Corporation
Ethema Health Corporation (OTCQB: GRST) operates in the behavioral healthcare space specifically in the treatment of substance use disorders. Ethema developed a unique style of treatment over the last six years and has had much success with in-patient treatment for adults. Ethema will continue to develop world class programs and techniques with its expansion in the United States. The Company currently has under twenty employees and operates in Delray Beach, Florida. For more information you can visit our website at www.ethemahealth.com and seastoneofdelray.com
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