Telemynd Provides Update Following Spinoff Transaction from Emmaus Life Sciences, Formerly MYnd Analytics
July 18 2019 - 10:42AM
Telemynd, Inc., a predictive analytics company
aimed at improving the delivery of mental health services through
the combination of telemedicine and data analytics, today provide a
business update following its spinoff from
Emmaus Life
Sciences, Inc. (“Emmaus”) (Nasdaq:EMMA), formerly
MYnd Analytics, Inc.
In connection with the merger between MYnd Analytics, Inc. and
Emmaus Life Sciences, Inc., MYnd Analytics contributed its
business, assets and liabilities to Telemynd, Inc., which was spun
off by means of a pro rata dividend of one share of Telemynd’s
common stock for each share of MYnd common stock held at the end of
trading on July 16, 2019. The new shares are expected to
begin trading on a standalone basis, at which time further updates
will be provided. In the meantime, additional information is
available on the Company’s website and in the Company’s filings
with the Securities and Exchange Commission.
Patrick Herguth, Chief Executive Officer of Telemynd, commented,
“We are extremely pleased to have consummated this transaction,
which we believe has helped create significant value for
shareholders through equity ownership in both companies. At
the same time, we are making tremendous progress executing the
Telemynd business model. We look forward to providing further
updates on both our corporate progress and timing for our planned
listing.”
About Telemynd
Telemynd, Inc., ("Telemynd") will now have two wholly owned
subsidiaries: (i) Arcadian Telepsychiatry Services LLC, which is
a technology-enabled telepsychiatry and teletherapy company
that provides enhanced access to behavioral health services,
improves patient outcomes and helps lower the costs associated with
behavioral health issues; and (ii) MYnd Analytics, Inc, a provider
of analytical predicative diagnostic tests for mental health
professionals. The MYnd Psychiatric EEG Evaluation Registry (PEER)
is a predictive analytics decision support tool that helps
physicians reduce trial and error treatment for behavioral health
conditions. PEER provides the physician a personalized care plan
with recommended treatment options based on a patient’s unique
brain markers, reducing treatment time and treatment costs.
Telemynd will be offering Arcadian's suite of complementary
telemedicine services that can be combined with MYnd's PEER,
including telepsychiatry, teletherapy, digital patient screening,
curbside consultation, on-demand services, and scheduled encounters
for all age groups. Telemynd’s customers include major health
plans, health systems, and community-based organizations.
For additional information, please visit: www.telemynd.com.
Forward-looking Statements
Except for the historical information contained
herein, the matters discussed are forward-looking statements made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, as amended. These forward-looking
statements are subject to numerous assumptions, risks and
uncertainties which change over time. Forward-looking statements
speak only as of the date they are made and MYnd assumes no duty to
update forward-looking statements. In addition to factors
previously disclosed in MYnd’s reports and the Telemynd’s
registration statement on Form 10 filed with the Securities and
Exchange Commission and those identified elsewhere in this
communication, the following factors, among others, could cause
actual results to differ materially from forward-looking statements
and historical performance: These forward-looking statements
involve risks and uncertainties, such as statements regarding
traction in the marketplace, integration of business offerings,
further development of the network, acceleration of growth, driving
of revenue, market developments, new products and growth
strategies, the ability of MYnd’s or Telemynd’s products to
successfully produce objective data and improve efficiency in the
treatment of depression and other mental health and psychiatric
illnesses, to recognize patterns, predict outcomes and personalize
medicine, and to improve patient outcomes and reduce healthcare
costs and our ability to become best-in-class or expand our
technology platform. These risks and uncertainties could cause
actual results to differ materially from any forward-looking
statements made herein.
Contact:Crescendo
Communications, LLC Tel: +1 (212) 671-1020 Email:
mynd@crescendo-ir.com
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