Adds to AMIH's Portfolio of Complementary Technology Driven, Consumer Focused Healthcare Companies
Plano, Texas, Feb. 15, 2022 (GLOBE NEWSWIRE) -- American International Holdings Corp. (OTCQB: AMIH), ("AMIH" or the "Company") a diversified holding company that develops, acquires and operates technology-based health and wellness companies, is pleased to announce the launch of EPIQ Scripts, LLC ("EPIQ Scripts"), an online mail-order pharmacy with a specific target to service customers and patients through the growing number of telemedicine companies entering into the market. EPIQ Scripts will initially focus its efforts on obtaining licenses and accreditations in key states with plans to ultimately secure licenses and accreditations in all 50 states across the U.S.
According to a July 2021 report by All The Research, the Global Online Pharmacy market was valued at $68.2 billion in 2020, and it is expected to reach $202.3 billion by 2027, a compounded annual growth rate (CAGR) of 16.8%. All The Research expects the growth of the online pharmacy market to be attributed to a rise in the number of internet consumers, increased access to online services, increased government support with favorable polices, and the growing execution of e-prescriptions in healthcare facilities.
In addition to servicing the anticipated demand from the Company's wholly-owned subsidiary, EPIQ MD and its members, EPIQ Scripts plans to market its services to the growing number of telemedicine companies entering the market since early 2020. According to a study by McKinsey & Company, in April 2020, overall telehealth utilization for office visits and outpatient care was 78 times higher than in February 2020. Furthermore, a March 2020 Sykes survey found that by March 2021, more than 61% of Americans had made a telehealth/telemedicine appointment, a massive increase from just 19.5% a year prior.
"With the recent exponential rise in demand for telemedicine, there has been an increase in telehealth and telemedicine platforms," commented Jacob Cohen, President and CEO of American International Holdings Corp., who continued, "This has created a new unmet demand for pharmacies with the capabilities to handle the prescription volume generated by these platforms. We believe that EPIQ Scripts, which is planned to have advanced API capabilities and infrastructure, and supported with nationwide licenses and accreditations, will be able to position itself to capitalize on the current market opportunity and fill this void."
EPIQ Scripts will be led by pharmacy and healthcare industry veterans, Sultan Haroon and Maja Matthews, who collectively have over 40 years of experience in healthcare, pharmacy ownership, operations, and management.
"The potential value creation opportunity in online pharmacy solutions has been demonstrated by TruePill, the online pharmacy that provides fulfillment services to popular telemedicine companies Hims and Hers and GoodRx, and which was recently valued at $1.6 billion," commented Sultan Haroon, Manager of Epiq Scripts, who continued, "Our goal is to eventually position EPIQ Scripts to compete with TruePill and other online digital pharmacies as we seek to rapidly rollout our solutions in the sizeable telemedicine markets."
Sultan Haroon
Mr. Sultan Haroon started his successful pharmacy career with American Specialty Pharmacy. Taking his knowledge, experience, and research, Sultan launched a Pharmacy Consulting Company which connected doctors to ancillary services such as pharmacies, labs, and durable medical equipment companies. Mr. Haroon later went on to establish Whole Health Kinetix (WHK) which specialized in customizing supplements and healthcare according to a patient's blood work and DNA. After its successful launch, WHK was acquired by a group of physicians in the Dallas/Ft Worth metroplex. Sultan then went on to manage, own and operate five Texas Class-A Pharmacies and was also a co-owner of a Class-G Pharmacy. Mr. Haroon grew the pharmacies to several millions of dollars in revenue until they were ultimately purchased by a large east-coast based Venture Capital firm.
Maja Matthews
Drawing on her 27 years of experience in health care, Ms. Matthews provides in-depth knowledge in many facets of the Pharmacy/Health Care Industry. Maja has hands-on experience in management and development of policies & procedures, along with years of experience in credentialing new pharmacies. This includes State Board, NPI, NCPDP, DEA, URAC, all PBM Contracts, State/Federal Compliance, and out of state licensing. Ms. Matthews managed and operated five Texas Class-A Pharmacies and was also Co-Owner of a Class-G Pharmacy. Prior to her venturing out on her own, Maja was District Trainer and Sr. Pharmacy Technician with CVS Pharmacy. She was also Director of Operations and Sr. Technician at American Specialty Pharmacy (ASP) where she managed and trained hundreds of technicians in the processing of prescriptions, auditing, and workers compensation. Maja has been a State Certified Pharmacy Technician since 1996.
About American International Holdings Corp.
American International Holdings Corp. (OTCQB: AMIH) is an investor, developer and asset manager of diversified, synergistic health and wellness businesses. Today, the AMIH portfolio encompasses telemedicine and other virtual health platforms, affordable subscriber-based primary care and concierge medicine plans, preventative care solutions and wellness related assets such as mental & behavioral health services, as well as its own proprietary life coaching platform. AMIH markets its various services through direct-to-consumer and business-to-business distribution channels. AMIH's focus is on bringing to market technologies and solutions that advance the quality of life for the global community.
Forward-Looking Statements
This press release may contain forward-looking statements, including information about management's view of the Company's future expectations, plans and prospects, within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995. Forward-looking statements also may be included in other publicly available documents issued by the Company and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "would," "could," "will" and other words of similar meaning in connection with a discussion of future operating or financial performance. Examples of forward-looking statements include, among others, statements relating to future sales, operations, expansion, earnings, cash flows, results of operations, uses of cash and other measures of financial performance. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the Company's actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others such as, but not limited to the proposed operations of EPIQ Scripts, the ability of EPIQ Scripts' to obtain required licenses and accreditations, the timing of such licenses and accreditations, and limitations on its operations if such licenses and accreditations are not in place, and future projected revenues, customers, and results of operations of EPIQ Scripts; economic conditions, changes in the laws or regulations, demand for products and services of the Company; our limited operating history; our need for additional funding to support our operations, repay debt and expand our operations; the effects of COVID-19 on our operations and prospects, and the future effects of COVID-19 on us and our operations; impairments we may be required to assess in connection with our assets and goodwill; risks associated with our prior launch of a telehealth platform, including liability in connection therewith, funding needed to support such operations and other risks associated with the operations of the telehealth platform; disruptions to our operations or liabilities associated with future acquisitions; our ability to continue as a going concern; our dependence on our sole officer and director, Jacob D. Cohen, and related party transactions affecting the Company; Mr. Cohen's voting control over the Company; competition we face; our ability to maintain our varied operations, and service our indebtedness; material weaknesses in our controls and procedures; our ability to obtain and maintain adequate insurance; legal challenges and litigation; liability associated with our contracting operations; the terms of Mr. Cohen's employment agreement; dilution caused by the conversion of outstanding notes, exercise of outstanding warrants, and future fund-raising activities; price of, volatility in, and lack of robust trading market for, our common stock; and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements. These risk factors and others are included from time to time in filings made by the Company with the Securities and Exchange Commission, including, but not limited to, in the "Risk Factors" sections in its Form 10-Ks and Form 10-Qs and in its Form 8-Ks, which it has filed, and files from time to time, with the U.S. Securities and Exchange Commission. These reports are available at www.sec.gov. The forward-looking statements included in this press release are made only as of the date hereof. The Company cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.
Investor Relations Contact
Dave Gentry, CEO
RedChip Companies Inc.
407-491-4498
AMIH@redchip.com
Frank Benedetto
(619) 915-9422