Field Trip Health Ltd. Provides Operational and Investor Update
December 4th, 2020
Field Trip Health Ltd. (CSE: FTRP) (OTCBB: FTRPF) (“Field Trip”), a leader in the development and delivery of psychedelic therapies, is pleased to announce that, in response to significant interest from people and medical professionals in Canada, it is expanding the hours of operation at its Toronto Field Trip Health location to provide its psychedelic therapies on evenings and Saturdays. Participants receiving Field Trip’s ketamine-assisted therapies will soon be able to book appointments between 8 am and 5pm on Mondays, between 8am and 8pm from Tuesday to Friday and 12pm to 8pm on Saturdays.
Field Trip also reported that this week of November 30 – December 4, 2020 is the busiest week to date at its Toronto Field Trip Health center, achieving a record number of sessions scheduled.
First Canadian Military Veteran Completes Treatment with Medavie Blue Cross Reimbursement
Field Trip is also pleased to announce that it has successfully supported an application by a Canadian military veteran to seek reimbursement for Field Trip’s “Core+” program from the Medavie Blue Cross/Veterans Affairs Canada insurance program.
This marks a significant milestone for military veterans wishing to explore psychedelic therapies to help treat the post-traumatic stress and other mental health challenges experienced by military veterans, as insurance coverage will make Field Trip’s treatment programs more affordable and accessible.
Availability of Portal to People in North America
Portal, Field Trip’s proprietary digital mental health platform, also began rolling out across North America to people currently participating in Field Trip’s psychedelic-enhanced therapy programs. Portal, which meets Canadian and US standards for personal health information compliance, is designed to enhance the therapeutic experience and improve outcomes in Field Trip Health centers and beyond. The platform provides people in Field Trip’s programs with therapeutic information, videos, meditations, mood monitoring and activity tracking tools and will soon offer synchronous and asynchronous communication with their therapy team. For therapists, Portal enables customizable therapeutic journeys for each person in therapy, and can help them track the progress of their clients, target lifestyle considerations to work on and collect feedback.
Portal will feature prominently in Field Trip’s planned expansion efforts, and will act as the foundation of Field Trip’s therapy innovation efforts, combining anonymized data on therapeutic outcomes with data from other tools currently deployed by Field Trip, including its partnership with WHOOP to collect biometric data on participants’ experiences.
Increased Access For Investors
Finally, in response to accelerating interest from outside Canada, Field Trip also announced today that it is actively exploring options to enhance access to global investors who are interested in investing in Field Trip through recognized exchanges. While Field Trip is currently traded on the Canadian Securities Exchange (CSE) under the ticker FTRP and the OTCBB under the ticker FTRPF, options currently being considered by management include potential up or cross-listing to US or international exchanges and/or uplisting to senior exchanges in Canada.
“At Field Trip, we have always been focussed on the promise of increasing access to, and scaling, psychedelic therapies both through the development of new drugs and products, and building the physical and digital infrastructure necessary to deliver these life-transforming therapies,” said Ronan Levy, Field Trip’s Executive Chairman. “With the first successful reimbursement for a military veteran in Canada, the rollout of Portal across North America and the expanded access at our Toronto location, we continue to live up to that promise.”
About Field Trip Health Ltd.
Field Trip is the global leader in the development and delivery of psychedelic therapies. With our Field Trip Discovery division leading the development of the next generation of psychedelic molecules and conducting advanced research on plant-based psychedelics including psilocybin-producing fungi and our Field Trip Health division building centers for psychedelic therapies opening across North America and Europe along with the digital and technological tools that will enable massive scale we help people, from those in treatment to those seeking accelerated personal growth, with a simple, evidence-based way to heal and heighten engagement with the world.
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