Thrive Precision Health (“THRV”) (formerly Thrive Global Biosafety and China New Energy Group Company (with subsidiary Thrive Testing and Biosafety Inc., “CNER” or “Company”) (OTC-Pink-Alternative Reporting Pink: CNER) is pleased to announce it has entered into an agreement to acquire all of the assets of two diabetes clinics in Hawaii with the plan to expand to 20 clinics.
“Diabetes is a big problem among the population in Hawaii, and our focus will be to reduce the pain, struggle, and cost of the diabetes epidemic and its co-morbidities.”, stated Guy Zajonc, CEO and Chairman of Thrive Precision Health.” “Acquisition of Heal Diabetes, Inc. will give us the footprint to build Thrive Clinics across Hawaii. The management team is highly skilled in delivering the newest forms of diabetes treatment.”
Heal Diabetes has 2 locations operating and has billed $1.2M in diabetic care service year to date in 2023 and is seeing consistent month-over-month growth. Over 350 patients have been treated in 2023 at the Honolulu HI and Waipahu HI clinics. We plan to open two more clinics in early 2024. The first one in Waipahu to accommodate a waitlist of 200 patients. And the second new clinic in Waianae, HI, to serve over 4,500 diabetic patients through network referrals.
“The Thrive Precision Health vision to apply advanced technology to diabetes care and individualizing each patient’s care is the next evolutionary step in digital health. When advanced technology focuses on a specific problem as large as diabetes, we believe patient outcomes will be better by avoiding expensive treatments like amputation, dialysis, and chronic pain,” stated Charles Elliott, President of Heal Diabetes. “Our experience in delivering care on the front lines combined with Thrive’s technology is something my team wants to be part of.”
THRV will start with the two operational clinics and work to fund the startup of the next two clinics in Q1 2024. Based on demographics and demand, THRV expects to serve the diabetic community across Hawaii with 20 clinics. Each clinic will have a standardized footprint with digital workflows to guide patients and clinicians on optimal care procedures.
The Hawaii State Department of Health, in their Published Hawaii Diabetes Plan 2030, states, “Diabetes costs Hawai’i $1.1 billion in direct healthcare expenditures and is currently the 8th leading cause of death in the state. Nearly one in every four healthcare dollars goes toward the care of people with diabetes. On average, people with diabetes incur more than twice the medical costs of people without diabetes.
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The acquisition is an asset purchase transaction is an all-stock acquisition and will close once Thrive Precision Health Hawaii Inc. (a wholly owned subsidiary of Thrive Precision Health Inc.) completes its mandatory credentialing in Hawaii, estimated to be 90-120 days. During this hold period, THRV will advance funds to Heal Diabetes to expand their operations and add the two new locations.
Thrive Precision Health Inc., has made an application to FINRA for a name and symbol change as it appears on the OTC Markets web site (currently reported as China New Energy Group Company, OTC:CNER). Corporately the name has been changed in the State of Delaware and legally operates as Thrive Precision Health Inc.