Irwin Naturals Inc. (CSE:IWIN) said it reached a binding agreement on September 30, 2022 to acquire Ketamine Infusions of Idaho, PLLC, which operates a clinic in Idaho Falls.
The clinic will join Irwin Naturals Emergence which already has deals to add 11 clinics across six different states. This clinic will be the chain's first in Idaho.
In a statement, Klee Irwin, CEO of Irwin Naturals said: "We are so impressed by the care and expertise that Christina Stubbs and her team provide, and we are truly excited to welcome this clinic into our rapidly expanding family. Additions like this are the way we'll realize our goal of putting Irwin Naturals Emergence at the forefront of psychedelic mental healthcare in this country."
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The transaction is back-end loaded and the total consideration is to be paid in a combination of cash and stock, with the maximum payable contingent on a number of milestones related to profitability and operational goals, the company said.
Christina Stubbs, CRNA, owner of Ketamine Infusions of Idaho, said: "We built our practice on a steadfast belief that we could help people who were suffering. Becoming part of Irwin Naturals Emergence not only validates that belief, but it allows us to become part of a network that will make these treatments available at a national scale behind a trusted brand."
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