Irwin Naturals Inc. (CSE:IWIN) announced that it has agreed to acquire Louisville, Kentucky’s Serenity Health, LLC.
The company said the move continues Irwin’s national ketamine clinic rollup strategy that has seen the company move quickly toward its goal of building Irwin Naturals Emergence into the world’s largest chain of psychedelic mental health clinics.
“With each clinic we bring under the umbrella of Irwin Naturals Emergence, we take another step toward the forefront of this new approach to mental healthcare,” Irwin Naturals CEO Klee Irwin said in a statement.
READ: Irwin Naturals expands network of psychedelic mental healthcare clinics with acquisition of Washington ketamine facility
“We are the world’s first household name to enter the space and are moving fast with the goal of being the first mover in this market,” Irwin added.
Irwin Naturals noted the total consideration will be paid in upfront and deferred consideration and will include contingent payments based on milestones related to expansion and profitability goals.
Irwin Naturals Emergence, a wholly-owned subsidiary of Irwin Naturals, already includes clinics in Florida, Vermont, New Hampshire, Iowa, and Georgia, according to the company.
It added that over the past year, Irwin Naturals Emergence has identified ketamine clinics that practice a high standard of care to explore the possibility of adding these clinics to the national chain, which offers the possibility of increased economic efficiency because of the national scale of the operation that could help drive down operating costs, making it possible to pass savings along to the consumer in the form of sliding-scale discounts and even pro-bono treatments for those in need.
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