Field Trip Health & Wellness Ltd. Announces Launch of Online Therapy

TORONTO, Jan. 12, 2023 (GLOBE NEWSWIRE) — Field Trip Health & Wellness Ltd. (TSX-V: FTHW) (“Field Trip” or the “Company”), a global leader in the delivery of psychedelic therapies, today launched Field Trip Online Therapy, a unique approach to psychotherapy that leverages contemporary talk therapy, integrative wellness tools and insights derived from being one of the largest global providers of psychedelic-assisted therapies.

The new offering marks a milestone as the first of Field Trip’s services to be accepted by major insurance providers and is covered by Aetna, Cigna, Blue Cross Blue Shield, Oxford, United Healthcare, and Oscar Health.

Field Trip Online Therapy will provide a new level of care, not only for anyone seeking therapeutic support to heal their mind, body, and spirit but also for people looking to integrate insights and learnings from ketamine infusions or other psychedelic experiences.

Each session will be 53 minutes long and will include talk therapy and additional holistic wellness practices including breathwork, somatic release, visualization, and meditation. Every therapist providing therapy through the program will have completed a proprietary psychotherapy training program developed by Field Trip that leverages knowledge and learnings derived from its network of psychedelic-assisted therapy clinics.

“We are delivering unparalleled mental health results for people who complete our ketamine-assisted therapy,” said Ronan Levy, Chairman and CEO of Field Trip. “At the same time, we know that ketamine therapies are not for everyone. That is why I’m thrilled to introduce our Field Trip Online Therapy program. It brings the unique insights our team has learned from providing psychedelic therapies and translates them into an offering that reaches a wider audience of people, at a time when they need it most.”

The program comes at a time when the increased need for mental health care is putting a strain on psychologists nationwide. In a recent study conducted by the American Psychological Association, six in 10 practitioners reported that they no longer have openings for new patients, nearly half (46 percent) said they have been unable to meet the demand for treatment and nearly three-quarters (72 percent) have longer waitlists than before the pandemic.

“Our therapists are holistic and integrative and trained in psychedelically-supportive practices and they approach care in an open, compassionate, connected, and non-judgemental manner,” added Sabina Pillai, Director of Psychotherapy Services at Field Trip.

Field Trip Online Therapy is now available in New York with plans to roll out to additional states throughout 2023. Clients will have access to easy self-scheduling through the Field Trip Platform. For more information, visit https://www.fieldtriphealth.com/.

About Field Trip Health & Wellness Ltd.

With a large global community of psychedelic-interested people, proprietary psychedelic therapies that generate transformative results for people in the treatment of mental health conditions and a brand and share of voice that is reaching millions of people, Field Trip is a center of gravity for the psychedelic renaissance.

Learn more at https://www.meetfieldtrip.com, https://www.fieldtriphealth.com and https://www.fieldtriphealth.nl.

Follow us on Twitter and Instagram: @fieldtriphealth

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Download Field Trip’s app here.

Cautionary Note Regarding Forward-Looking Information.

This release includes forward-looking information (within the meaning of Canadian securities laws) regarding the Company and its business. Often but not always, forward-looking information can be identified by the use of words such as “expect”, “intends”, “anticipated”, “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would” or “will” be taken, occur or be achieved. Such statements are based on the current expectations and views of future events of the management of the Company and are based on assumptions and subject to risks and uncertainties. Although management believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including sign-ups, downloads, engagement, reviews, ability of Field Trip to realize its business plan, grow its client base or app user base, use of the Field Trip application by users, uptake in existing or new programs by clinicians or patients, if any, acceptance of psychedelic treatments by clinicians, patients, and regulators, ability or effect of any clinical restructuring, future changes in regulatory regimes which govern Field Trip’s business, and/or the ability of Field Trip to realize on its business plan for broadened, holistic approach to mental health and wellbeing. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. Additional information relating to the Company, can be located on the SEDAR website at www.sedar.com .

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities.

Neither the TSX Venture Exchange nor its Regulation Services Provider, have approved the contents of this release or accept responsibility for the adequacy or accuracy of this release.

CONTACTS:

Field Trip Health & Wellness:

Ronan Levy
Chairman & CEO
(416) 505-0929
[email protected]

Media contacts:

Isabella Morreale
Autumn Communications
(862) 579-7944
[email protected]

Investor contacts:

Phil Carlson / Sophia Bashford
(646) 573-0776 / (929) 246-7307
KCSA Strategic Communications
[email protected]

SOURCE Field Trip Health & Wellness Ltd.


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