8 www.lexpert.ca
Feature
patients for whom a specific treatment will
work. "e more we're using AI now and
soware and genetic testing to get that infor-
mation, [the more we will] have more targeted
therapeutic regimes to the individual."
Psychedelics and cannabis
e psychedelics market is very active now,
Reicin adds, and some players have shied
to it from the cannabis sector. "Canada was a
leader in the cannabis market and continues
to be a leader in psychedelics, too."
In early May, Tilray Inc. and Aphria Inc.
announced their merger's closing, which
created the world's largest cannabis company
by revenue. But the merger continues consol-
idation in the sector rather than representing
a shi.
ere has been "a bit of a consolidation
play" in the cannabis sector for a while,
says Clemens Mayr, a partner in McCarthy
Tétrault LLP's Montreal office. Despite
the "big hype" in the cannabis space a few
years ago, many smaller players were and
are struggling, he says. Now that the sector
is maturing, "some of the larger players are
completing this consolidation trend."
at consolidation will be similar to
that in the tobacco and liquor industries as
the cannabis industry matures, says Reicin.
Proprietary or unique medical cannabis
products may form part of niche businesses,
but one or two handfuls of companies will
control recreational cannabis, she predicts.
Products made from cannabidiol — the
second most prevalent active ingredient
in cannabis known as "CBD" — are being
increasingly investigated and tried as ther-
apeutic alternatives to chemical medicines,
says Mayr, who expects global growth in the
medicinal cannabis sector. "I don't think
recreational cannabis, which was at the origin
of the hype, is really the long-term value
creator in this space," Mayr says.
However, he says, much will depend on
what the United States does; 36 states, the
District of Columbia and most U.S. terri-
tories had legalized the use of cannabis for
medicinal purposes by late 2020, but at
the federal level, it remains a prohibited
substance.
A SAMPLING OF TOP
TELEHEALTH APPS
• Maple telehealth app: Connects
patients to doctors via phone, tablet or
computer, 24/7
• Babylon by TELUS Health: Allows
patients to see a doctor on their phone,
check symptoms, and get prescriptions
or referrals
• Akira Healthcare On-Demand: Offers
on-demand access to health-care
providers via text and video
• Ask a Doctor: Allows users to write
a health query, attach a picture or lab
report and post to doctors around the
world
• Dialogue: Allows patients to consult with
health-care professionals by chat, audio
or video
• Livecare ConnectM: Connects patients
to doctors, allows patients to store their
medical files on Livecare's server
