New York, New York--(Newsfile Corp. - September 29, 2022) - Plantable® Health Inc. PLBL PLBLF ("Plantable" or the "Company") announced its plans to expand the Company's reach into the self-funded marketplace with the launch of the RebootRx. Proven on the individual level, Plantable's RebootRx product will offer self-funded employers a value-based solution to reverse chronic disease with high levels of adherence and engagement, leading to better outcomes both for the individual's health and for the employer's bottom line.
"It's a really exciting time for us because we know Plantable is a solution to reduce the $2 trillion healthcare cost that is spent on diet-related chronic disease management every year." said Dr. Nadja Pinnavaia, the founder and CEO of Plantable. "We know that employers and health plans need value-based innovation and, modeled upon the existing institutional clinical trials, the RebootRx delivers a clinically-effective and cost-effective solution, with a high return on capital for the payer, with a health solution that actually works for the consumer. Through its unique offering that combines behavioral, high-touch coaching, with an education platform, and in the first instance the actual delivery of nutrient-dense meals, Plantable makes behavior change easier. The highly engaged and fully-immersive RebootRx program drives improved adherence which in turns drives its spectacular results. This brings an improvement in the bottom line driven by lower healthcare costs for the employer from reduced claims and fewer hospital admissions."
The Plantable team recently brought on Jim Wachtel as the Chief Growth Officer, to support this initiative. Wachtel has over twenty-five years in sales. His in-depth knowledge of the needs in the health risk management, payer and employee benefits space brings experience to the Plantable team as it builds this market channel for distribution.
"It's a great opportunity for me to be a part of the complete solution that Plantable offers and leverage my background to build Plantable's distribution into self-funded employers health plans, regional health plans, the BUCAs, Medicare Advantage, and other risk sharing organizations," said Jim Wachtel. "We envision this product being leveraged to great advantage for employers who want a solution that addresses the root issue with these costly and stressful conditions."
The RebootRx is a 12-month clinical program that includes personalized coaching, through scheduled onboarding calls, transition calls, weekly check-ins and unlimited 7 day / week SMS text support, all centered around behavior change and addiction counseling. Further to the support from the personal coach, the RebootRx provides 8 weeks of nutrient-dense, proprietarily-crafted plant-based meals with a target carbohydrate to fiber ratio, designed to maintain steady levels of insulin and blood sugar, along with 12 month access to the education platform for lifestyle maintenance. Furthermore the RebootRx includes a cellular scale for remote weight monitoring and a prescription for full baseline and final blood work, including the following metabolic markers: HgbA1c, lipid panel I(including LDL), LP(a), hsCRP and uric acid.
Plantable today also announces that a statement of claim (the "Claim") has been filed against Plantable in the Ontario Superior Court of Justice by Hybrid Financial Ltd. ("Hybrid").
The Claim is in reference to a marketing agreement dated December 28, 2021, between Plantable and Hybrid (the "Agreement"). The Claim alleges that Plantable has breached the Agreement by refusing to pay outstanding amounts thereunder. The Claim seeks damages in an amount in excess of $236,000.
Plantable has instructed its litigation counsel to vigorously defend Plantable against the Claim for the alleged breach of the Agreement.
About Plantable® Health Inc.
Plantable is a clinically supported, lifestyle intervention program that combines behavioral psychology, neuroscience, and nutritional science to transform health and wellness. Plantable drives healthy weight loss and an improvement in health, and well-being through effective behavior change. Plantable's efficacy is predicated upon the scientific foundation of plant-based nutrition, personalized coaching support and lifestyle educational tools to empower people to change their dietary habits. To view the Company's products and become a customer, please visit plantable.com or click the link here: https://plantable.com
If you are interested in investing in the Company and would like more information, please visit: https://www.plantable.com/investor-relations
On behalf of the Board of Directors,
Dr. Nadja Pinnavaia
Chief Executive Officer
For investor inquiries please contact:
Corporate Communications and Investor Relations
Cautionary Note Regarding Forward-Looking Information
Certain statements contained in this news release constitute forward-looking statements as defined under applicable securities laws. All statements in this news release, other than statements of historical facts, that address events or developments that management of the Company expect, are forward-looking statements. Specifically, the references in this news release to the benefits the Company expects to gain from its RebootRx and the its defense against the Claim both constitute forward-looking statements. Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company's control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements, see "Notice to Investors - Forward-Looking Information" and "Risk Factors" in the Prospectus. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.
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