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GreeneStone Healthcare, Inc. (GRST) Taking Advantage of Large Unmet Need

A recent study and evaluation of mental health specifically addressed conditions in the province of Ontario in Canada, but a good argument can be made that many of the conditions it uncovered likely parallel those in other parts of Canada and in the United States. As such, it offers an idea of the potential market for the kind of mental health services offered by GreeneStone Healthcare, an Ontario-based healthcare provider seeking to expand its operations to meet a growing need in the areas of addiction, eating disorders, and other areas of mental health.

In particular, the evaluation emphasized the wide-ranging scope of the mental health problem, indicating that most people in Ontario are affected over time, either directly or indirectly, by mental illness and addiction issues, and that fully one in five Canadians are affected each and every year. The study suggests that associated problems often begin at a young age, but can continue throughout the person’s life, ultimately affecting their social connections as well as education and workforce participation. Mental health can, in fact, be the predominant health related factor affecting a person’s life, even though it often goes unrecognized.

Although major physical diseases tend to result in a greater actual loss of life, mental illness, such as depression, bipolar disorder, alcohol and drug addiction, is foremost when it comes to years lost to reduced functioning. The study says that, for Ontario, the burden of mental illness and addictions is 50% greater than all forms of cancer put together. The cost of depression alone, in terms of reduced functioning, exceeds the combined burden of lung, colorectal, breast, and prostate cancer. But mental health issues can also be life threatening, with alcohol use disorders responsible for more deaths than some cancers and infectious diseases.

The study concludes that, although effective treatments exist for mental illness and addiction, only a small proportion of affected individuals receive them. Given the extent of the problem, there is clearly a strong unmet need for the application of preventative and treatment methodologies. GreeneStone recognizes the need, and is actively growing through a “build and buy” strategy, and aims to ramp up revenue from $7 million to nearly $90 million in the coming years.

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