MISSION VIEJO, Calif. and TORRANCE Calif., July 18, 2019 (GLOBE NEWSWIRE) -- 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.”
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.
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.
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