BCAN - Israeli Ministry of Health Reports Surge in Medical Cannabis Patients Following Recent Events | Benzinga
ASHKELON, Israel and VANCOUVER, British Columbia, Nov. 07, 2023 (GLOBE NEWSWIRE) -- BYND Cannasoft Enterprises Inc. (NASDAQ:BCAN) (CSE:BYND) ("BYND Cannasoft" or the "Company"), announced today a new plan of work that focuses on its proprietary CRM platform in an effort to help meet the increased demand for medical cannabis in Israel. Recent regulatory reforms approved by the Israeli Ministry of Healthi allows physicians to prescribe cannabis to patients as a first-line treatment rather than as an option of last resort. Israel has had a significant increase in the number of licensed medical cannabis patientsii in the wake of recent events, particularly the opening of the war in Gaza. This surge has resulted in more than 2,000 new patients in just one month, approaching the peak numbers of 2021 and bringing the total number to over 132,000 as of November 2023. BYND Cannasoft's proprietary Benefit CRM enables small and medium-sized enterprises to optimize day-to-day functions, such as sales management, workforce management, contact center operations, and asset management. Benefit CRM is provisioned as SaaS to some of Israel's most recognizable companies.
As part of the new plan of work, the software development phase will focus on innovative elements in the field of artificial intelligence that will increase their data collection and analysis.
Physicians licensed to prescribe medical cannabis and Israeli Ministry of Health authorities have reported a notable surge in demand after the recent conflict. There is a burgeoning presence of initiatives by both corporate entities and private individuals aimed at providing cannabis to individuals residing in the southern region. The increasing trend comes after a period of data stagnation in the first half of the year. The Israeli medical community is experiencing a tremendous increase in the number of patients seeking treatment for post-trauma, marking a significant shift from the previous decline in this category.
In February 2023, BYND Cannasoft announced that the Medical Cannabis Unit at the Ministry of Health of the State of Israel issued the Company a full license to engage in medical cannabis without direct contact with the substance. This license allows BYND Cannasoft to trade in medical cannabis products through an agreement with a licensed cannabis grower in Israel. The recent increase in patients seeking treatment for post-trauma, which had seen a decline in the past year, adds significant value to this license, as well as BYND Cannasoft's proprietary CRM platform.
"Israel is a small country, and although we continue to take a business-as-usual approach, every one of us is directly impacted, either personally or through our family and loved ones. BYND Cannasoft supports and stands with all of the Israelis affected by this tragedy. In Israel, the cannabis and pharmaceuticals industries are part of the critical infrastructure sector, and I ...