Business
Ethema Expands into 174-Bed Florida Facility
Ethema Expands into 174-Bed Florida Facility.
About this update from Ethema Health Corporation
[{"type":"text","content":"\nDELRAY BEACH, FL, June 07, 2018 (GLOBE NEWSWIRE) -- Ethema Health Corporation (OTCQB: GRST) (“Ethema” “GRST” or the “Company”), a provider of healthcare services, has recently taken possession of the premises at 5400 East Avenue, West Palm Beach Florida (the “Property”) through a long-term lease.  The Company previously announced in November 2017 that it had entered into a purchase and sale agreement for the Property.  The Company released an 8k on May 31, 2018 with the details of the lease, which contains an option to purchase the property on the exact same terms and conditions contained in the Purchase and Sale agreement.  It is the intention of the company to complete the purchase prior to August 31, 2018.  The lease allows the Company to take possession of the Property so that it can license the facility and begin to treat clients prior to closing.  The term of the lease provides for long-term possession of the property if for any reason the Company is unable to complete the purchase of the property.      \n Mr. Shawn Leon, president and CEO of the Company, said, \"It has taken us longer than we anticipated to be able to move forward with this jewel of a property, but we are now well underway with our licensing to be able to offer a full continuum of care to our clients in one location.  This has been our U.S. expansion goal for several years and after exploring dozens of expansion opportunities, this is by far the best opportunity that we have seen to date.  This opportunity will allow us to create a “center of excellence” in the addiction treatment industry and we look forward to collaborating with scientists, doctors and researchers to develop better assessment and treatment modalities for the industry.” The Property is large but unique, in that it has four separate self-contained treatment buildings with overnight beds, creating four separate smaller treatment centers in one location.  This offers the Company tremendous flexibility with programming specialties in different buildings.  The Company will build on its experience in the concurrent treatment of substance abuse and PTSD that it developed in Canada.  The creation of a track specifically for “first responders” will ...