SAN DIEGO, Sept. 25, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- CBDCapitalGroup (“CCG” or the “Company”), a CBD nutraceuticals investment and scaling company, today announced that its portfolio company Medix CBD (“Medix”) is going to be participating in the first-ever program to measure cannabidiol (CBD) efficacy using the qualitative Short Form (SF)-36 Health Survey to study medical outcomes.
“The CBD industry holds so much potential yet so little is known about how consumers are actually using and benefiting from it in their daily lives,” said CBDCapitalGroup CEO David Metzler. “In my earlier healthcare company working with large national health insurance companies such as Aetna, UnitedHealthcare and BlueCross, we used the same SF survey because it is well-established to easily and accurately predict medical outcomes. Given this experience, we are motivated to bring these same best practices deployed by most reputable health insurance companies to the CBD market to establish industry standards and help companies prove the efficacy of their products.”
The SF Medical Outcome Study (“MOS”) was originally designed by the U.S. Government and the Rand Research Corporation to calculate the cost-effectiveness of health treatments. Since established, the survey has been given to millions of people to demonstrate statistical-actuarially validated outcomes. CCG and its portfolio companies are dedicated to research that provides the cannabis industry with the information needed to continue to rapidly grow into a well-respected industry.
To get the study off the ground, CGG and Medix plan to research and test the most successful methodologies to maximize participation for the largest sampling pool. Once these have been established, the Company intends to offer the study to the rest of the industry for more detailed results and help set an industry research standard. CCG has engaged Steve Myers, former Chief Technology Officer of Optum Specialty Networks, a UnitedHealth Group company, to administer the first control group to establish industry best practices of delivering the SF-36 Health Survey to CBD end-users.
Medix CEO Miguel Lozano said, “We were one of the first to put QR codes on our packaging to allow consumers to trace the purity and authenticity of CBD (COA access) and that practice has now become the standard in many states. To continue our precedent of setting industry standards, we are proud to be the first to participate in this study to prove the efficacy of our products because this can become the new industry gold standard measuring Quality of Life improvements.”
A recent study by the Brightfield Group estimates that the CBD industry will grow by approximately 700 percent in 2019 and reach nearly $24 billion by 2024. Though there are many studies on the economic potential for the CBD consumer market and an increasing number of studies on the potential benefits of its use as a nutritional supplement, there is little information available in the U.S. about CBD’s impact on health-related quality of life.
About CBDCapitalGroup:
CBDCapitalGroup (“CCG” or the “Company”) is an investment and scaling company that acquires and develops mid-stage CBD and hemp nutraceutical companies to promote both financial and professional success. The Company is led by a group of seasoned entrepreneurs who have managed over $1 billion in combined revenue over their careers, and now apply their diverse business experiences to establish trust, quality standards and efficiencies in the CBD market. The Company provides CBD industry entrepreneurs a faster path to revenue growth and liquidity with capital, expert advice and operational resources needed to scale already profitable businesses.
About Medix CBD:
Medix CBD is a premier producer and distributor of cannabidiol (CBD) products throughout the United States. The company’s hemp is expertly sourced in Kentucky and every ingredient and product is lab-tested to ensure the highest quality for consumers everywhere. From tinctures and topicals to vapes, pet products and gummies, Medix CBD provides products for a variety of consumer tastes and preferences.
FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE:
These statements have not been evaluated by the FDA and are not intended to diagnose, treat or cure any disease
LEGAL DISCLOSURE:
None of the parties involved, including CBDCapitalGroup and Medix CBD, sell or distribute any products that are in violation of the United States Controlled Substances Act (US.CSA). Medix CBD does grow, sell, and distribute hemp-based products and are involved with the federally legal distribution of medical marijuana-based products within certain international markets. Cannabidiol is a natural constituent of hemp oil.
PUBLIC RELATIONS CONTACT:
Kathryn Reinhardt
Account Manager, CMW Media
P: 858-283-4005
kathryn@cmwmedia.com