Having developed a thriving telehealth business that has seen significant uptake from patients seeking medicinal cannabis solutions, Epsilon Healthcare (ASX: EPN) is set to expand into retail locations for in-clinic consultations.
While the progressive healthcare provider moves in the opposite direction to other medical clinics which were forced to adopt telehealth during the pandemic, telehealth will remain the core of its Tetra Health business that specialises in ecommerce solutions for nutraceuticals and cannabis.
The expansion to in-clinic consultations will commence through a partnership with Astrid Health that will co-locate a Tetra doctor within Astrid’s Melbourne dispensary in South Yarra.
“Working with Astrid through Tetra Health we expect this new clinic to offer a unique personal patient experience from a team highly motivated and guided by ensuring the best patient care,” said Epsilon Healthcare CEO, Jarrod White.
“As a registered pharmacy with a physical dispensary the Astrid relationship also offers Tetra and the wider Epsilon group of brands the opportunity for further expansion and distribution of products which will be the second phase of the current clinic relationship and we are excited to explore this over the coming weeks with the Astrid Founders”.
Patients seeking in-clinic consultations with Tetra doctors will be charged at a higher rate than telehealth consults, however they will also have access to Medicare rebates that offset the differences.
Through this expansion which will also see new referral business, it creates further distribution opportunities for Epsilon Healthcare which owns the largest cannabis manufacturing facility in the Southern Hemisphere.
Previously trading on the ASX as THC Global (ASX: THC), the Company underwent a name change and ticker change to Epsilon Healthcare (ASX: EPN) in February 2021.
For the 12 months ending 31 December 2020, Epsilon Healthcare reported a 53% increase in revenue to $7.35 million. This included $562k in sales from Tetra Health which was acquired in May 2020 which provided Epsilon with a network of 600+ physicians, and database of over 10,000 prospective patients.
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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