Under the terms of the preliminary agreement, which is subject to completing mutual due diligence, signing a definitive agreement, and board approval, NuAxess will endorse United Cannabis as the exclusive provider of CBD products to its membership for a period of 5 years.

The NuAxess Smart Plan is a self-funded, consumer driven, and value-based health insurance solution for small to mid-size employers, freelancers and other alternative workers who are part of the emerging ‘gig’ economy.

Traditional insured health plans are typically inflexible, costly and do not provide adequate insurance, whereas value-based health care encourages wellness in conjunction with new therapies and treatments as well as financial incentives. NuAxess offers members comprehensive major medical health insurance coverage and open access to medical providers of their own choosing at affordable rates.

According to a report commissioned by the Freelancer’s Union, the gig economy currently comprises over 60 million people, and by 2027, contract workers are forecast to account for the majority of the U.S. workforce. Generation X and Millennials are driving this trend, and their reliance on technology, innovation and consumerism is changing the status quo in the healthcare industry in a similar way.

Clifton Lambreth, Chief Marketing Officer at United Cannabis, commented on the partnership, “NuAxess’ progressive approach to providing small employers comprehensive major medical health insurance benefits resulted in a disruptive solution to the multi-billion-dollar insurance sector that has clung to the status quo for decades. Together we’re continuing that mission to innovate by establishing the first public partnership between the emerging legal cannabis industry and the emerging market of self-insuring small employers.”

“NuAxess members are looking for health care tailored to their individual needs, not driven by market conventions. By offering United Cannabis’ Prana Hemp line with the NuAxess Smart Plan, members and their providers will have direct access to our proprietary products as well as to the relevant information they need to incorporate CBD as part of their healthcare regimen.”

Earnest Blackmon, the Company’s CEO, added, “This partnership – the first of its kind to our knowledge – demonstrates how United Cannabis’ out of the box thinking advances our mission to help people live healthier lives. It is amazing how much can get done when industries work together to improve true consumer-driven health processes. This partnership is a paradigm shift, and we look forward to discovering other ways for United Cannabis to lead our industry as more states legalize the use of CBD and its positive aspects are observed and documented.”