Irwin Naturals Inc. (CSE:IWIN) said it has entered into a definitive agreement to purchase all of the issued and outstanding shares of Keta Media LLC (doing business as Ketamine Media), the nation's leading growth platform for clinics offering ketamine-assisted therapy.
Ketamine Media has established relationships with clinics in over 45 states and three countries, and connects providers and patients using a unique patient-centered approach, the company said.
"While this transaction will contribute immediately to our profitability, this acquisition is driven predominantly by strategic considerations,” Irwin CEO Klee Irwin said in a statement.
READ: Irwin Naturals Emergence mental-health clinic chain set to expand with ketamine clinic in Ohio
“Ketamine Media will support our mission to bring healing to people suffering from mental health disorders. We are in acquisition discussions with many clinics who tell us that Ketamine Media has been almost solely responsible for their growth, and we are excited to have them as part of the Irwin family," he added.
The company said it expects the acquisition to help accelerate the identification and completion of new potential clinic transactions and leverage Ketamine Media's capabilities to increase utilization rates at existing and future Emergence-branded clinics.
Ketamine Media CEO Chris Walden added: "For us, this deal will give us access to growth capital that will allow Ketamine Media to add new advisory services that will greatly benefit all our clients at a much more rapid pace.”
“Ketamine Media wants to help encourage more collaboration within this emerging space between providers in local markets. During our discussions with Irwin Naturals, we identified a number of parallels in our belief system, including a desire to help our existing book of business to achieve the outcomes that led them to sign up with KM. We believe that Irwin Naturals will be successful in their strategy to become a leading international brand of psychedelic mental health clinics," he concluded.
Contact the author at jon.hopkins@proactiveinvestors.com