MISSION VIEJO, Calif., May 08, 2019 (GLOBE NEWSWIRE) -- MYnd Analytics, Inc. (NASDAQ: MYND), a behavioral health company with tools and technologies aimed at improving the delivery of mental health services through the combination of telemedicine and data analytics, today announced that its wholly owned subsidiary, Arcadian Telepsychiatry Services LLC, has partnered with Care Compass Network (CCN), to offer telepsychiatry and teletherapy services, through Arcadian’s provider network.
CCN’s partnership with Arcadian Telepsychiatry Services LLC is a major development in promoting the adoption of telehealth solutions in upstate New York. CCN is coordinating a phased roll-out of solutions with a variety of organizations including nursing homes, primary care, pharmacy, behavioral health agencies, and visiting nurse service. The use of these systems is aimed towards increasing access to mental health services and will enable the CCN network, which spans 1/8th of New York State, to further provide high quality care across the Southern Tier and address workforce shortages in specialty providers in rural communities.
”We are excited to partner with Acardian Telepsychiatry Services and provide the agencies in our region access to telepsychiatry and teletherapy services. With a shortage in mental health providers in our region, bringing these services into our communities fills a critical gap in care for our community residents, especially those with barriers to accessing existing services,” shares Mark Ropiecki, Executive Director for Care Compass Network. “We look forward to launching these services in our region and equipping upstate New York with technology that can help our communities become more engaged and provide them with an easier way to access healthcare services.
Robert Plotkin, CEO and Founder of Arcadian, stated, “We are excited to partner with Care Compass Network to offer our telepsychiatry and teletherapy services through their network. Nursing homes, for example, face significant challenges in accessing consistent and timely psychiatric and psychological care for their resident population. There is a shortage of appropriately trained professionals, which creates serious problems for patients when trying to access mental health services. We look forward to providing patients greater access to mental health services and improving quality of patient care, which we believe will help reduce the overall costs of care.”
About Care Compass Network
Care Compass Network is a not-for-profit, community organization that was created to champion new models of providing Medicaid members and the community at large, with higher quality care, while reducing expenses through care coordination and community-focused care and education. CCN convenes and collaborates with over 150 partner organizations, which include hospital systems, community-based organizations, nursing homes, behavioral health and substance use disorder programs, social services agencies, and similar entities. CCN is funded by the New York State Department of Health to target and improve the care and well-being of the Medicaid population. CCN has developed a comprehensive plan for expanding and improving healthcare delivery within our 9-county region, as well as support healthcare and community organizations make the transition from a traditional fee-for-service model to a new, pay-for-performance approach or Value-Based Payment (VBP) program.
About MYnd Analytics
MYnd Analytics, Inc. (www.myndanalytics.com), with its wholly owned subsidiary Arcadian Telepsychiatry Services LLC, is a technology-enabled telepsychiatry and teletherapy company that provides enhanced access to behavioral health services, improves patient outcomes and helps lower the costs associated with behavioral health issues. The MYnd Psychiatric EEG Evaluation Registry (PEER) is a predictive analytics decision support tool that helps physicians reduce trial and error treatment for behavioral health conditions. PEER provides the physician a personalized care plan with recommended treatment options based on a patient’s unique brain markers, reducing treatment time and treatment costs. Arcadian Telepsychiatry Services LLC provides a suite of complementary telemedicine services that can be combined with PEER, including telepsychiatry, teletherapy, digital patient screening, curbside consultation, on-demand services, and scheduled encounters for all age groups. MYnd’s customers include major health plans, health systems, and community-based organizations. To read more about the benefits of this patented technology for patients, physicians and payers, please visit: www.myndanalytics.com.
Additional Information about the Proposed Merger between MYnd and Emmaus and Where to Find It
In connection with the previously disclosed proposed business combination involving MYnd Analytics, Inc. and Emmaus Life Sciences, Inc., MYnd and Emmaus have filed documents with the U.S. Securities and Exchange Commission (the “SEC”), including the filing by MYnd of a Registration Statement on Form S-4 containing a Joint Proxy Statement/Prospectus, filed on February 13, 2019, and each of MYnd and Emmaus plan to file with the SEC other documents regarding the proposed transactions. INVESTORS AND SECURITY HOLDERS OF MYND AND EMMAUS ARE URGED TO CAREFULLY READ THE JOINT PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS FILED WITH THE SEC BY MYND AND EMMAUS BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTIONS. Investors and security holders may obtain free copies of these documents and other documents filed with the SEC at the SEC’s web site at www.sec.gov and by contacting MYnd Investor Relations or Emmaus Investor Relations.
MYnd, Emmaus and their respective directors and executive officers may be deemed participants in the solicitation of proxies with respect to the proposed transaction. Information regarding the interests of these directors and executive officers in the proposed transaction has been included in the Joint Proxy Statement/Prospectus described above. Additional information regarding the directors and executive officers of MYnd is also included in MYnd’s proxy statement for its 2018 Annual Meeting of Shareholders, which was filed with the SEC on March 1, 2018, as updated in MYnd’s Annual Report on Form 10-K for the fiscal year ended September 30, 2018, and additional information regarding the directors and executive officers of Emmaus is also included in Emmaus’ proxy statement for its 2018 Annual Meeting of Stockholders, which was filed with the SEC on August 23, 2018.
No Offer or Solicitation
This document does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Forward-looking Statements
Except for the historical information contained herein, the matters discussed are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements involve risks and uncertainties, such as statements regarding market developments, new products and growth strategies, Arcadian's ability to reduce patient suffering through increased access to care, Arcadian's ability to use MYnd’s data analytics capabilities to successfully reduce trial and error prescribing, advantages offered by telemedicine, the ability of MYnd’s and Arcadian's products to successfully target objectivity and increased efficiency in the treatment of depression and other mental health and psychiatric illnesses, as well as those risks and uncertainties set forth in MYnd's filings with the Securities and Exchange Commission. These risks and uncertainties could cause actual results to differ materially from any forward-looking statements made herein.
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