$RBII ~ News hit this morning and gapping PM! >> Rising Biosciences Inc. Acquires SNB Health, Signs Contract to Purchase 40,000 Sq. Ft. Facility for Behavioral Health Addiction Treatment Inpatient http://www.globenewswire.com/news-release/2019/06/04/1863944/0/en/Rising-Biosciences-Inc-Acquires-SNB-Health-Signs-Contract-to-Purchase-40-000-Sq-Ft-Facility-for-Behavioral-Health-Addiction-Treatment-Inpatient-Center.html
SANDUSKY, Ohio, June 04, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE — Rising Biosciences, Inc. (OTC: RBII) is pleased to announce the recent acquisition of Southern Northern Behavioral Health, Inc. (SNB Health) a growing substance abuse treatment company, as a wholly owned subsidiary. In conjunction with the acquisition, Rising Biosciences has signed a contract to purchase a 40,000 square foot former recreation facility that will be renovated for use as a behavioral health inpatient center for the purpose of treating all types of substance abuse including opioid addiction, alcohol abuse and related mental health issues.
“We are committed to battling the opioid epidemic in Ohio and the surrounding Rust Belt states,” stated Arthur Hall, CEO of Rising Biosciences, Inc. “Ohio has been hit unusually hard by the scourge of opioid addiction, tragically ranking second worst in the nation by drug overdose deaths. Since the 90’s, the opioid crisis has grown into the single worst drug epidemic of modern American history with over 70,000 overdose deaths in the USA in 2017 alone, the last year for which the Center for Disease Control has published statistics. We stand with the civic leaders and medical professionals of our community in saying, ‘Enough, this can’t continue on our watch.’”
Scott Frankel, CEO of SNB Health and a leading healthcare industry professional, explained, “Together with Rising Biosciences, we will offer the most cutting edge behavioral health treatments available for opioid addiction, including a CBD variant of Rising Bioscience’s Cannophen. A growing number of clinical studies indicate that CBD is an increasingly promising treatment alternative. This will be a full-service medical inpatient facility, staffed by the most competent physicians, psychiatrists, nurses and counselors. We will be able to offer the very best 24/7 care, including inpatient medical detoxification, inpatient residential care, partial hospitalization, intensive outpatient and outpatient care.”
Arthur Hall concluded, “I am particularly gratified to share that, because this location was formerly a recreational facility, we can address the adjunct, less tangible side of addiction treatment by offering our clients a full slate of wholesome recreational outlets. The facility includes an Olympic class indoor heated swimming pool, yoga and cardio areas, indoor basketball and racquetball courts along with outdoor tennis courts and sports fields all contained within a restful and attractive, four acre compound. There is nothing else like it in the Midwest.”
The Sandusky facility will specialize in treating inpatient clients, while also offering the full spectrum of top end inpatient and outpatient services. This will facilitate clients being referred between the Sandusky facility and the existing Alternative Medicine Centers of America outpatient locations in Cleveland (Parma), Toledo and Pittsburgh. The center is expected to bring in over $10 million annually in inpatient revenue, with over $5 million in additional annual revenue being driven to the various outpatient locations.
About Rising Biosciences, Inc. (OTC: RBII)
RBII operates three distinct business units. The first business unit is a physicians’ practice management company focused on the proper use of cannabis for the treatment of chronic pain, opioid addiction, and terminal patients. The second business unit is a research and development company focusing on oral and topical pharmaceuticals with strict standards set forward by the pharmaceutical compounding industry and the FDA. The third business unit offers cutting edge behavioral health medical treatment for substance addiction from branches throughout the Midwest.
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Cautionary Statement Regarding Forward-Looking Statements: Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward- looking statements to reflect events or circumstances after the date of this release.
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