TORONTO, ON, February 14, 2021 – Pathway Health Corp. (TSXV: PHC) (Frankfurt: KL1) (formerly Colson Capital Corp.) (“Pathway” or the “Company”), an integrated healthcare company that provides products and services to patients suffering from chronic pain and related conditions, is pleased to provide an update on its flagship Toronto clinic, the Silver Pain Centre. Silver is the largest private interventional pain clinic in Canada. With more than 14,000 patient visits per year, this 20,000 square foot Level 2, Out-of-Hospital Premise (OHP) is located in North Toronto where it provides patient-centred, interdisciplinary pain management services to thousands of chronic pain patients each year. Staffed by 13 trained pain specialists and other healthcare providers, Silver provides a comprehensive suite of interdisciplinary, evidence-based solutions.
“We’re pleased to report that we added two more physicians to our team of pain specialists at Silver in 2022 that we expect will translate into more patient visits and an increase in provincial billings,” said Ken Yoon, CEO at Pathway Health. “Furthermore, Silver has successfully completed its OHP Inspection Program in compliance with the rigorous standards set by The College of Physicians and Surgeons of Ontario. Successfully passing this inspection allows us to continue our interventional patient care at Silver for five more years until the next clinic audit. We have also added a second fluoroscopy suite at Silver that will allow our pain specialists to treat more patients using real-time diagnostic imaging, allowing for more precise treatments.”
Health Canada estimates the total number of individuals living with chronic pain will increase by 17.5% from 2019 to 2030 due to population growth and aging1. Preliminary projections indicate as many as 8.3 million Canadians may live with chronic pain by 2025 and as many as 9.0 million by 20301. By 2030, the estimated direct costs will rise to approximately $23 billion and indirect costs to $31.5 billion1. “The increase in prevalence of chronic pain in Canada, combined with Pathway Health’s growing reputation as a provider of superior patient care, has allowed us to achieve year-over-year growth of 10% in patient visits across all our clinic divisions, including at Silver, and we expect to see a continuation of this trend as we expand our clinical presence across Canada,” said Yoon.