Ketamine One Capital Ltd announced that it has recently signed a non-binding letter of interest (LOI) with Veteran Services USA to lease approximately 5,000 square feet of space over an initial term of five years in Blue Island, Illinois.
Located in the former MetroSouth Medical Center, it said the Blue Island Therapy Center is being planned to be part of a larger medical complex.
Ketamine One will leverage its experience in ketamine-assisted therapies and innovative treatments, including integrating immersive virtual reality, towards creating a first-of-its-kind healing experience specifically for veterans suffering from post-traumatic stress disorder (PTSD) and other trauma-related challenges.
READ: Ketamine One partners with Psychology & Counselling Services Group to provide services to subsidiary IRP Health
"We are very proud to be part of an important project such as this with Veteran Services USA, which will allow Ketamine One to showcase its innovative approach to care and treatment by addressing veterans’ unique needs,” interim CEO Adam Deffett said in a statement.
"Given that between 11-20% of who served in Afghanistan, Iraq or Vietnam have PTSD in a given year, according to the US Department of Veterans Affairs, our company sees an immediate need for its services and has a special opportunity to help heal countless veterans,” he added.
Under the LOI, Ketamine One will provide ketamine-assisted therapy in other properties in the Veteran Services USA portfolio. It said it will work with Veteran Services USA to identify further clinic locations to develop within the growing network of Veteran Services USA properties.
Meanwhile, the company said it and Illumma LLC have mutually agreed to terminate a non-binding letter of intent previously announced on September 8, 2021.
It said it remains active in evaluating the acquisition of clinic assets in several US states and is focused on growing its network of existing clinics across North America.
Contact the author at stephen.gunnion@proactiveinvestors.com