Braxia Scientific Corp (CSE:BRAX) (OTCMKTS:BRAXF) announced that its ketamine treatment clinic will offer direct billing insurance to qualifying Canadian military veterans. The Toronto-based company said it had established direct billing practices with Medavie Blue Cross, a health insurance provider, that will cover 100% of the costs of ketamine treatments at Braxia’s Canadian Rapid Treatment Centre of Excellence (CRTCE). The insurance coverage will also extend to veterans’ family members, according to Braxia. READ: Braxia Scientific launches clinical training program for medical professionals interested in psilocybin-assisted therapy Included in the agreement are members of Canada’s national police force the Royal Canadian Mounted Police (RCMP). Military veterans can be especially susceptible to depression and post-traumatic stress disorder (PTSD). According to government statistics provided by Braxia, nearly 16% of full-time Canadian Armed Forces personnel experience depression at some point in their lives, while more than 11% reported symptoms of PTSD. The condition may also show as more severe, chronic and less treatable by conventional methods, according to Braxia. "We are grateful for this insurance coverage, which has facilitated access for Canadian veterans to receive this important treatment," said Roger McIntyre, Braxia’s CEO, in a statement. McIntyre noted that the CRTCE clinics have already seen an increase in bookings. "Many veterans struggle with depression, PTSD and suicidal thoughts. Unfortunately, conventional treatments are often ineffective or only partially effective in persons who live with these conditions, leaving many suffering with persistent symptoms and impaired function," he added. Braxia’s chief medical and scientific officer Josh Rosenblatt said that the company is specifically tracking symptoms of depression, anxiety, suicidal ideation and PTSD in its veteran patients and plans to publish results in the coming months. CEO McIntyre added that current evidence indicates that ketamine is capable of “rapid and significant attenuation of suicidality in persons affected by depression and represents an important treatment avenue for persons with suicidal thoughts and behaviour." Braxia’s CRTCE clinics are located in Mississauga, Toronto, Ottawa and Montreal. Contact Angela at angela@proactiveinvestors.com Follow her on Twitter @AHarmantas
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