Numinus Wellness Inc. (TSX:NUMI, OTC:LKYSF) has updated on the integration of the Novamind acquisition, which was completed on June 10, 2022, noting that its US clinics have continued to perform well during the three months ended August 31, 2022, with strong client appointment growth in recent months.
During August, over 6,200 client appointments were completed across Canada and the US, representing 25% growth compared to July. In total, the company's eight US wellness clinics - six in Utah and two in Arizona - completed more than 4,900 client appointments in August, representing an increase of 22% from July, it said.
"We continue to be pleased with the performance of our recently acquired US clinics - and their continued success in building strong client relationships," said Payton Nyquvest, Numinus founder and CEO, in a statement. "Impressively, 15% of the client appointments held in August at our US clinics were from new clients."
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Numinus is currently focused on growing its Ketamine-assisted therapy offering across Canada. Ketamine Therapy sessions at Numinus' US clinics grew 35% in August from the previous month.
Cedar Clinical Research, the clinical trial management division of Numinus that was acquired through Novamind, also continues to achieve positive operational growth. During Numinus' fiscal fourth quarter, the division recruited 178 clinical trial participants for 16 third-party clinical studies, representing a19% increase in clinical trial participation compared to the fiscal third quarter.
Numinus said it will release its fiscal fourth quarter and annual 2022 financial results on November 29, 2022.
Numinus added that its new brand has already been successfully applied to all of the company's digital assets. By the end of 2022, Numinus intends to launch a new comprehensive client website, providing information and booking tools for all of the company's wellness clinics. The rebranding of Numinus' physical wellness clinics is also now underway.
Numinus also announced that it is launching a new financing option for clinic patients in Canada.
"We understand that some people in need of therapy face financial hurdles in accessing treatments, so we're proud to provide another option for clients to consider," said Jason Lapensee, SVP of Operations.
Offered through iFinance, a third-party financing partner, Numinus' new financing option will allow Canadian clients to apply for financing with interest rates based on the applicant's credit history.
Numinus Wellness 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.
Contact the author at jon.hopkins@proactive.com