Irwin Naturals Inc. (CSE:IWIN) announced that it has completed the acquisition of its first Vermont ketamine treatment facility, adding to its fast-growing chain of psychedelic mental-health clinics.
The nutraceutical firm noted the acquisition is the latest step in what has been an aggressive national rollup for Irwin Naturals Emergence.
“We’re at the very, very beginning of the rapid expansion of psychedelic mental-health clinics in this country,” Irwin Naturals CEO Klee Irwin said in a statement.
READ: Irwin Naturals completes Georgia acquisition and adds two ketamine clinics to national chain
“We’re moving fast right now to take advantage of this opportunity to be the first national brand in this space, establishing ourselves as the first name people will think of when it comes to receiving these life-changing treatments,” Irwin added.
Irwin Naturals reported that as consideration for the acquisition, it will provide sellers cash payments as well as 284,848 subordinate voting shares upon closing.
As well, the company said the transaction includes an additional contingent consideration based on future milestones related to operational and profitability targets, to be satisfied in shares.
Irwin Naturals Emergence previously acquired five ketamine clinics in Florida, one in Iowa, one in New Hampshire, and two in Georgia, according to the company.
Irwin Naturals has been a household name and best-in-class nutraceutical company since 1994. On a mission to heal the world with plant medicine, it is now leveraging its brand in both the cannabis and psychedelics sectors.
Contact Sean at sean@proactiveinvestors.com