ALAViDA Partners with Green Shield Canada to Meet the Rapidly Growing Demand for Virtual Substance Use Management

Partnership helps fill a critical and costly gap in employee mental health benefits

TORONTO--(BUSINESS WIRE)--
ALAViDA Health Ltd. (Alavida), a LifeSpeak Inc. company (TSX:LSPK) and leading virtual provider of evidence-based substance use treatment, announced today its pre-disability TRAiL Hello Premium program will now be offered to Green Shield Canada's (GSC) plan sponsors as an optional addition to benefit plans.

Later this year, the ALAViDA program will also become a complementary addition to GSC's Digital Clinic. The Digital Clinic is a suite of virtual health solutions available at discounted costs. GSC is Canada's only national not-for-profit health benefits provider, delivering innovative programs to more than four million plan members nationwide.

Substance use affects 21 percent of Canadians, and the pandemic continues to expose mental health challenges and growing drug and alcohol use.

"Factors like shame, stigma, and busy schedules make substance use disorder the largest unmanaged disease in modern healthcare," explains Joe Blomeley, GSC's Executive Vice President, Mental Health. "It's time to change that. We're excited to be joining ALAViDA on this initiative to make treatment for substance use more accessible."

ALAViDA's TRAiL Hello Premium program uses a connected virtual care model that links physicians, therapists, and a virtual companion to meet individual needs and goals. Confidential and accessible on any device, the program offers the privacy to engage in substance use management whenever, wherever.

For employers, ALAViDA helps fill the gap for unaddressed substance use in the workplace with virtual treatment that guides employers to support employees at the pre-disability stage, reducing or potentially eliminating the significant cost to employers.

"Studies have shown that one in five Canadians say they are drinking more with women reporting a 41 percent increase in heavy drinking episodes. Yet it's estimated that only one in ten seek treatment due to the stigma associated with alcohol or drug use," says Elliot Stone, President of ALAViDA, a LifeSpeak company. "We believe that making ALAViDA's stigma-free, confidential, substance use treatment accessible to every Green Shield Canada plan member via their smartphone dramatically increases the chances employees will seek help sooner, before their use becomes a crisis. Like any other potentially life-threatening disorder, catching it early increases the chances of treatment success and drives down employer costs."

The Canadian Institute for Substance Use Research estimates that substance use cost Canadian businesses approximately $15.7 billion each year in absences, lost productivity and disability claims. Alcohol costs employers 5.8 times more than cannabis and opioids combined in long-term disability claims.

About ALAViDA

ALAViDA, part of the LifeSpeak Inc. (TSX: LSPK) family of companies, is a leading virtual care provider focused on the science of substance use management. It offers a one-stop-shop approach for any level of substance use disorder – alcohol and drugs – mild, moderate and severe. ALAViDA connects patients with behavioural coaches, therapists and physicians who work as a team to deliver personalized care right to their smartphones. ALAViDA is an employee benefit with varying plans and personalized therapeutic programs, which has proven to minimize time out of the workplace. Traditional rehab often costs $30,000 or more a month. ALAViDA's program is a mere fraction of that. More than 79 per cent of those signed on reported increased control and 86 per cent reduced substance use. To learn more visit ALAViDA.co For information on corporate programs or to establish a referral relationship contact [email protected]

About Green Shield Canada (GSC)

GSC is Canada's fourth-largest health and dental benefits provider, and is uniquely structured as a social enterprise with the purpose of making it easier for people to live their healthiest lives. From coast-to-coast, our service delivery includes drug, dental, extended health care, vision, hospital, and travel benefits for groups and individuals, as well as administration and benefits management services. Supported by outcomes-based sustainability strategies, advanced technology, and exceptional customer service, GSC creates innovative programs for more than four million plan participants nationwide, as part of our ongoing commitment to fostering better health for all Canadians. greenshield.ca

About LifeSpeak Inc.

LifeSpeak is a leading software-as-a-service provider of a platform for mental health and total wellbeing education for organizations committed to taking care of their employees and customers. With 17+ years of experience creating and curating thousands of expert-led micro-learning videos and other digital content, LifeSpeak’s proprietary library’s depth and breadth of easily consumable content helps companies around the world support their people anytime and anywhere. LifeSpeak serves a diverse global client base across many industries and sectors, including Fortune 500 companies, government agencies, insurance providers, and other health technology firms. LifeSpeak is the parent company of Lift Digital Inc. (“LIFT” or “LIFT session”), ALAViDA Health Ltd. (“ALAViDA”), and EnCompass Education Solutions (“Torchlight”). To learn more, follow LifeSpeak on LinkedIn (http://www.linkedin.com/company/lifespeak-inc), or visit www.LifeSpeak.com.

Forward-Looking Information

This press release may include “forward-looking information” within the meaning of applicable securities laws. Such forward-looking information may include, but is not limited to, information with respect to our objectives and the strategies to achieve these objectives, as well as information with respect to our beliefs, plans, expectations, anticipations, estimates and intentions.

In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology and phrases such as “forecast”, “target”, “goal”, “may”, “might”, “will”, “could”, “expect”, “anticipate”, “estimate”, “intend”, “plan”, “indicate”, “seek”, “believe”, “predict”, or “likely”, or the negative of these terms, or other similar expressions intended to identify forward-looking information, including references to assumptions. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts nor guarantees or assurances of future performance but instead represent management's current beliefs, expectations, estimates and projections regarding possible future events, circumstances or performance.

Forward-looking information is necessarily based on a number of opinions, estimates and assumptions that, while considered reasonable by LifeSpeak as of the date of this release, is subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Important factors that could cause actual results to differ, possibly materially, from those indicated by the forward-looking information include, but are not limited to, the risk factors identified under "Risk Factors" in LifeSpeak's prospectus dated June 28, 2021 (the “IPO Prospectus”), and in other periodic filings that LifeSpeak has made and may make in the future with the securities commissions or similar regulatory authorities in Canada, all of which are available under LifeSpeak 's SEDAR profile at www.sedar.com. These factors are not intended to represent a complete list of the factors that could affect LifeSpeak. However, such risk factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. You should not place undue reliance on forward-looking information, which speak only as of the date of this release. LifeSpeak undertakes no obligation to publicly update any forward-looking information, except as required by applicable securities laws.

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ALAViDA:

Maureen Palmer
1.888.315.3634

[email protected]

GSC Media Department

Fhelley Pollock

1.800.268.6613 ext. 4312

[email protected]

LifeSpeak:
Mike Reilly, fama PR

617-986-5008

[email protected]

Source: LifeSpeak