Cannabis MedPlans Advantageous in Selling Health Insurance in U.S. and Canada
MIAMI, FL, Oct. 23, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Novus Acquisition and Development, Corp. (OTC Markets: NDEV), through its wholly owned subsidiary WCIG Insurance Services, Inc., a diversified insurance entity in health, liability, annuity and accident and the nation’s first carrier/aggregator offering a cannabis health plan, is proud to provide an update on its progress in normalizing cannabis in the health insurance market place. Additionally, Novus expects to file its third quarter ended September 30, 2018 operating results and provide its financial update to shareholders by mid-November.
Next Level Strategy Focus On Continual Profitable Growth
Novus Chief Executive Officer, Frank Labrozzi, stated, “As we see mid-term elections upon us, we see the promise legalized cannabis growing until it is approved federally. Since the second quarter of 2016, Novus has generated consistent growth with our disciplined focus and persistent business model execution; we are continuing our drive towards world-class efficiency as an international health insurance entity. The positive results of our disclosure statements are a direct magnitude of our performance over the past 18 months despite being limited in depository relationships in banking and branding initiatives by major Internet networks. However these drawbacks are easing, we see a robust attentiveness to our business model from the cannabis consumer and vendors, impacting Novus’ quarterly results.”
Novus’ sustained growth is and will be attributed to the following four next level strategies that are being deployed:
i. The alignment of Big Pharma, Retail Pharmacies and Health Plan Carrier as they gather strong holds in medical cannabis sector
ii. Which will augment the expansion and roll out of Novus MedPlan, globally
iii. Locking up strategic relationships with Professional Employment Organization’s (PEO) to sell Novus Cannabis MedPlan as employee benefits
(i) Alignment of Big Pharma Retail Pharmacies and Health Insurance
Strongholds in the future cannabis sector will be in the three key areas:
a) Intellectual Property (IP): Pharmaceuticals Manufacturers market share will be through R&D and/or acquisition of cannabis IP as they identify safe and efficient medical delivery systems. This has already been demonstrated with Pfizer, GW Pharma, Merck & Co, and Sanofi-Aventis being heavily involved in cannabis, controlling IP and the leading cannabis patent holders in Canada.
b) Distribution: CVS Pharmacies, with approximately 10,000 retail locations nationwide, has filed for 300 cannabis licenses in the State of California alone. The assumption of this move can be either being a suitable distribution on retail side or a secretive alignment with Big Pharma. Either way health insurance/Novus will be a part of the alignment.
c) Consumerism: Customarily, health insurance carriers play a vital role in establishing a free market in drug pricing as new drugs emerge into the marketplace. Novus is setting its sights on the future where Big Pharma, Pharmacies and Health Insurance will eventually come into a competitive harmony on pricing. This has been done over decades where health carriers can leverage the pricing issue to the amount patient/members it covers, or perhaps causing hurdles and obstacles to a certain brands.
(ii) Global Expansion
As the world applauds Canada as it makes history in cannabis, and the overall global market as countries are approving medicinal cannabis despite geopolitical uncertainties that arose two years ago. Currently there are thirty nations that have some sort of cannabis legalization and Novus’ management has identified fifteen markets to begin its first mover advantage in filing its insurance footprint in:
Germany
United Kingdom
Israel
Australia
Italy
Norway
South America
Romania
Switzerland
Uruguay
Netherlands
Finland
Norway
Poland
Denmark
(iii) Strategic Relationships With Professional Employment Organization As Group Insurance Sales
To gain competitiveness in today’s work force employers know that health insurance is the most desirable benefits that employees seek. Professional Employment Organization (PEO’s) provides a service under which an employer can outsource employee management tasks, insurance benefits, payroll and workers' compensation. But the employer still retains control and oversight over employee’s all the while lowering employer costs.
PEO’s are now seeing the most effective value proposition of Novus Cannabis MedPlan and they generate revenue through “bundling” which means they are selling two or more health polices under their own banner at a profit. For employers bundling can reduce the hassles associated with using multiple providers and gain access to more attractive benefits for the employee.
In Conclusion
Two main factors that will keep Novus in emerging growth stage is our resiliency to overcome any regulations that may hinder growth. And, with cannabis on the ballot in the mid-term elections there will be new markets to develop, which could result in additional patient/members for Novus Cannabis MedPlan. You’re invited to review our benefits packages: http://bit.ly/2PjDvon
Novus Capital Structure as of June 30, 2018:
· No Convertible Notes
· 98,233,624 common shares issued and outstanding
· No sales of insider shares since the third quarter of 2015
We invite you to review Novus filing(s) here: https://www.otcmarkets.com/stock/NDEV/filings
About Novus
Novus Acquisition & Development Corp. (NDEV), through its subsidiary WCIG Insurance, provides health insurance and related insurance solutions within the wellness and medical marijuana industries in states where legal programs exist. Novus has developed its infrastructure within many lines of the insurance business such as, health, property & casualty, life, accident and fixed annuities.
Novus medical cannabis benefits package will work as outside developers and will not cultivate, handle, transport grow, extract, dispense, put up for sale, put on the market, vend, deliver, supply, circulate, or trade cannabis or any substances that violate the United States law or the Controlled Substances Act, nor does it intend to do so in the future and will continue to follow state and federal laws. The statements made about specific products have not been evaluated by the United States Food and Drug Administration (FDA) and are not intended to diagnose, treat, cure or prevent disease. All information provided on these press releases or any information contained on or in any product label or packaging is for informational purposes only and is not intended as a substitute for advice from your physician or other health care professional. Once a push notification is competed the transaction is solely between the state-licensed dispensary and the registered patient.
The state laws are in conflict with the federal Controlled Substances Act. The current administration has effectively stated that it is not an efficient use of resources to direct federal law enforcement agencies to prosecute those lawfully abiding by state designated laws, allowing the use and distribution of medical marijuana. However, there is no guarantee that the current administration, nor any future administration, will not change this policy and decide to enforce the federal laws strongly. Any such change in the federal government's enforcement of current federal laws could cause significant financial changes to Novus Medical Group. While we do not intend to harvest, distribute or sell cannabis or cannabis related products, we may be harmed by a change in enforcement by federal or state governments.
Forward-Looking Statements
This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, includes codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. Novus disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.