Definitive agreement includes the sale of U.S.
wellness clinics and a partnership to launch a technology-driven
clinic management solution for mental health care
providers.
- Executed a definitive agreement with Stella for the sale
of Numinus Wellness clinics for US$3.53
million
- Focusing on business units and product development ("Numinus
Network") to facilitate clinic efficiency and care reimbursement
for mental health practitioners
- Stella will partner with Numinus to share operational data
from its network of 12 mental health clinics, supporting the
development of advanced clinic management solutions for mental
health practices, including insurance reimbursement support
- Creates an asset-light business with a synergistic combination
of clinical support, practitioner training and clinical research
with a strengthened balance sheet
VANCOUVER, BC, Nov. 15,
2024 /PRNewswire/ - Numinus Wellness
Inc. ("Numinus" or the "Company") (TSX: NUMI)
(OTCQX: NUMIF) (FSE: LR23), a mental healthcare company advancing
traditional and innovative behavioral health treatments including
safe, evidence-based psychedelic-assisted therapies, announces that
it has executed a definitive agreement with Stella,
an interventional psychiatry practice focused on treating
PTSD, anxiety and depression with biological modalities, for the
sale of the Company's five Wellness Clinics in Utah (the "Agreement") for US$3.53 million. The transaction is expected to
close on or before November 30,
2024.
"This transaction marks an exciting new chapter in Numinus'
strategy to reshape behavioral health care," said Payton Nyquvest, Founder and CEO of Numinus.
"Leveraging our deep expertise in patient care, where we served
about 50,000 unique individuals, over 200,000 appointments, and
about 250,000 insurance-reimbursed claims, we're now accelerating
our mission by focusing on cutting-edge technology solutions.
Through our partnership with Stella, we gain unprecedented access
to operational data that will enable us to develop a SaaS solution
to redefine how clinics operate, from improving patient outcomes to
optimizing efficiencies and reimbursement processes.
With Cedar Clinical Research continuing to lead the field in
clinical trial research and our practitioner training programs
offering world-class instruction, Numinus is positioned to support
mental health providers worldwide. Together, we're building a
future where innovative technology and compassionate care combine
to transform mental health on a global scale."
"With Stella taking over operations across Numinus' clinics,
we're bringing additional life-changing treatments to the
Utah community while
simultaneously supporting Numinus' efforts to create new,
innovative solutions that can change the future of how clinics are
run," said Michael Gershenzon,
Co-Founder and CEO of Stella. "This partnership demonstrates a
continued dedication to championing progress in behavioral health
by creating better systems and processes that ultimately impact
what matters most: better patient outcomes."
"Stella will bolster our clinical solutions offering as we
leverage their deep clinical expertise and patient care
experience," added Mr. Nyquvest. "With ketamine and Spravato™
emerging as key treatments for depression and associated mental
health conditions, we aim to ease the operational burdens
healthcare professionals face as they are challenged to meet the
growing requests for care. We expect strong demand for Numinus
Network Solutions."
Details of the Agreement
Stella MSO LLC will acquire Numinus Wellness' five clinics
located in Utah for a total
consideration of US$3.53 million:
- Total consideration of US$2.08
million paid at the closing of the transaction
- Consideration of US$750,000 paid
over six equal monthly instalments in 2025
- Deferred compensation of up to US$0.7
million to be paid in 2025
- Stella will negotiate a partnership with Numinus, where
Stella will provide ongoing access to operational data from its
network of 12 mental health clinics
About Numinus
Numinus Wellness Inc. (TSX: NUMI) helps people to heal and be
well through the development and delivery of innovative mental
health care and access to safe, evidence-based psychedelic-assisted
therapies. The Numinus model – technology-driven clinic support,
clinical trial research and comprehensive practitioner training –
is at the forefront of a transformation aimed at healing rather
than managing symptoms of depression, anxiety, trauma, pain and
substance use. At Numinus, we are leading the integration of
psychedelic-assisted therapies into mainstream clinical practice
and building the foundation for a healthier society.
Learn more at www.numinus.com and follow us
on LinkedIn, Facebook, and Instagram.
About Stella:
Stella is an interventional psychiatry practice dedicated to
delivering the most effective mental health protocols for severe
trauma, stress, anxiety, depression, and post-traumatic stress
injury (PTSI). With a team of board-certified physicians, advanced
psychiatric nurse practitioners, psychologists, psychiatrists and
advocates, Stella combines biology, psychology, and psychiatry to
address the complex needs of patients. Stella Center has 20+
locations across the United States
and internationally in Israel and
Australia and has treated over
10,000 patients. Learn more at www.stellacenter.com and follow
us on LinkedIn, TikTok, YouTube and Instagram.
Forward-looking statements
Statements and other information contained in this press
release about anticipated future events constitute forward-looking
statements. Forward-looking statements are often, but not always,
identified by the use of words such as "seek", "anticipate",
"believe", "plan", "estimate", "expect", and "intend" and
statements that an event "may", "will", "should", "could" or
"might" occur or other similar expressions. Forward-looking
statements are subject to risks and uncertainties and other factors
that could cause actual results to differ materially from those
contained in the forward-looking statements, including challenges
and uncertainties inherent in the parties' ability to close the
transaction and the ability to realize the benefits, if any, from
the transaction, and other risks that are set forth in our annual
information form dated November 29,
2023, and available on SEDAR at www.sedarplus.ca.
Forward-looking statements are based on estimates and opinions
of management at the date the statements are made. Numinus does not
undertake any obligation to update forward-looking statements even
if circumstances or management's estimates or opinions should
change except as required by applicable laws. Investors should not
place undue reliance on forward-looking statements.
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SOURCE Numinus Wellness Inc.