Join our daily newsletter At The Bell to receive exclusive market insights
- Health House International’s (HHI) subsidiary entered an agreement to be the preferred supplier for cannabis flowers and extracts to more than 30 companies
- The deal was penned between CanPharma CmbH and GWQ Service Plys AG, a company that represents 47 German public health insurance funds
- Through the agreement, CanPharma will become a preferred supplier to more than 30 of the 47 insurance companies for a selection of its flowers and extracts
- The agreement will begin as of January 1, 2022 through to November 30, 2023
- Health House International is up 2.56 per cent, trading at 7.8 cents
Health House International’s (HHI) subsidiary has entered an agreement to be the preferred supplier for cannabis flowers and extracts to more than 30 companies.
The deal was penned between CanPharma CmbH and GWQ Service Plys AG, a company that represents 47 German public health insurance funds.
Through the agreement, CanPharma will become a preferred supplier to more than 30 of the 47 insurance companies that are shareholders in GWQ, for a selection of its own-branded flowers and extracts.
When doctors prescribe medicinal cannabis products for new patients that are insured with one of the GWQ affiliated insurance funds, they will be required to choose a product from a shortlist, if the patients are to be reimbursed.
CanPharma is one of the few German cannabis companies eligible for the scheme due to its GMP manufacturing licence.
“Following our decision to register a selection of our extracts and strains in the contract we hope it will increase the acceptance of cannabis as medicine by German prescribers, particularly once they see that the insurance companies endorse a reimbursement scheme,” CanPharma CEO and Health House Executive Director Henrik Sprengel said.
“In general, over one third of applications for reimbursement of medicinal cannabis are rejected and we hope that this new approach increases both the number of new prescriptions as well as the percentage reimbursed.”
The agreement will begin as of January 1, 2022 and last through to November 30, 2023.
Health House International was up 2.56 per cent, trading at 7.8 cents at the close of market on Wednesday.
