Alcohol and drug rehabilitation company BioCorRx Inc. (OTCQB:BICX) is working its way towards clinching license and distribution agreements in eight more states, COO Brady Grainier said in an exclusive interview in April.
Asked about the letters of intent to sell rights of its Start Fresh Program to Minnesota, Missouri, and Oklahoma, he said, "We are still in the process of closing a few LOI's such as the ones with Oklahoma, Missouri, Minnesota, Washington DC, Virginia, West Virginia, Maryland, and North Carolina."
Grainier said there's interest in "about every state and we are having discussions with those interested parties continuously."
At present, BioCorRx's Start Fresh Program is available in California, Arizona, Nebraska, and Connecticut. The company strives to offer cost-effective and long-term recovery programs for alcohol and drug dependent patients.
Banking on its dual approach of naltrexone implant medication and life coaching sessions, the Start Fresh Program has an unprecedented success rate.
Patients enrolled in the program are able to address their addictions through the naltrexone implant, a recent innovation that allows them to curb their cravings for prescription drugs or alcohol for several months. A biodegradableimplant, which is inserted in the lower abdomen part of the body, can last up to a year in many people, allowing the patient to focus on the psycho-social aspect of the program without the intrusive physical cravings in most cases.
In recent weeks, BioCorRx has been announcing its expansion in other states.
A clinic at 5569 Peachtree Dunwoody Rd. Ste. 280 Atlanta, Georgia will soon offer BioCoRx's Start Fresh Program after it finalized a distribution agreement with Dr. George Fallieras, medical director of Start Fresh Recovery.
The company then executed a letter of intent to sell the exclusive license and distribution rights of the program to DanBar Partners, owned by Bonnie Barnett and Ted Dann. The move is seen to benefit individuals suffering from drug and alcohol dependence, especially in the Las Vegas area.
Another important transaction waiting to be clinched is BioCorRx's acquisition of Trinity Rx Solutions, which owns the naltrexone implant formula. If this pushes through, BioCorRx will be able to develop other products and services in the healthcare industry.
Granier said they are hoping to double the number of clinics using their program this year, from the five they have in Arizona, Connecticut, Nebraska and California (Santa Ana and Walnut Creek) to 10, as interest in their program increases.
It is believed that at least 2.5 million Americans are addicted to opioids or prescription drugs and more than half of them have never received medication for their addictions.
According to the National Institute on Drug Abuse, next to marijuana and alcohol, prescription and over-the-counter drugs are the most commonly abused substances by Americans 14 years and older.
Meanwhile, the National Institute on Alcohol Abuse and Alcoholism reported that an estimated 17 million Americans have alcohol use disorders, which includes both alcoholism and harmful drinking. Each year, 80,000 people die from alcohol-related causes. US' alcohol problems cost the country $224 billion each year from lost productivity, health care and property damage costs.