Wellbeing Digital Sciences (NEO:MEDI.AQN, OTCQB:KONEF) Inc has announced that it has entered into a letter of intent to add three clinics into the company’s clinical ecosystem, supporting its continued focus on increasing its North American clinical footprint strategy.
The company said the clinics are well-established providers of pain management based in San Diego and Las Vegas that under Wellbeing’s management will provide IV ketamine therapy, clinical trial management and site support for psychedelic medicines, dietary supplements, and other natural medicines.
Future services may also include digital therapeutics interventions and reconsolidation of traumatic memories therapy, Wellbeing said.
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Wellbeing CEO Najla Guthrie said the agreement was an exciting step toward the company’s vision to expand its clinical network and in turn expand patient access to life-saving treatments across North America.
“Having built a reputable practice across several locations in both San Diego and Las Vegas, these clinics will benefit from the company’s operational and administrative support and leading-edge clinical resources while maximizing value for our shareholders,” Guthrie said.
“Wellbeing has extensive experience in this sector having created growth in profitability at our other locations and we are eager to replicate that success at additional sites.”
San Diego Comprehensive Pain Management medical director Sharron Thompson added: “With Wellbeing’s assistance, we will now be able to expand our treatment options as well as provide novel mental health treatments for a growing patient base in need.”
“Through our partnership with Wellbeing, we will be able to draw and learn from their past success to increase the profitability of our clinics while being at the forefront of innovation through their research division, KGK Science,” Thompson continued.
Subject to due diligence, required approvals and settling, and the signing of a Definitive Agreement, Wellbeing said the transaction is expected to be completed in 4Q.
Wellbeing Digital Sciences (NEO:MEDI.AQN, OTCQB:KONEF) is an evidence-based mental healthcare company focused on the development and implementation of innovative clinical treatment solutions, including psychedelic medicine and digital therapeutics, as supported by clinical research.
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