Irwin Naturals Inc. (CSE:IWIN) said it has entered into a binding agreement to acquire the assets of New England Ketamine PLLC, a healthcare clinic in Salem, New Hampshire.
The company said the total consideration would consist of a combination of cash and shares, with the maximum payable subject to a number of milestones related to profitability and operational objectives.
“Adding another EBITDA (earnings before interest, tax, depreciation and amortization) positive ketamine clinic to our growing footprint positions us well for accelerated profitability growth,” CEO Klee Irwin said in a statement. “With more than 100 clinics in our M&A pipeline, we are well positioned to achieve our goal of establishing the largest chain of clinics in the country. Leveraging our status as the premier family brand, our profitable core business and our ability to achieve economies of scale to reduce patient acquisition costs, we anticipate being able to bring this life-changing treatment to the masses in need across the United States and across the country. -of the.”
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The agreement is subject to certain customary closing conditions and regulatory approvals.
Casey Brachvogel, Founder of New England Ketamine, said, “Being part of a company like Irwin Naturals that is known to over 100 million people, has a widely recognized brand and delivers on its promises, is the biggest reason why we agreed to be part of the Émergence family.
“It puts us in a position to attract new audiences who previously would have been reluctant to commit to psychedelic treatment. Seeing that these treatments are now offered by a trusted partner with 28 years of experience, is likely to reduce the barrier for patients to use our services and allow us to accelerate growth,” added Brachvogel.
Irwin Naturals is a household name and the best formulator of supplements herbal since 1994. Its growing portfolio of products is available in more than 100,000 North American outlets, where around 100 million people know the brand Irwin Naturals. It is now leveraging its brand to enter the industry of cannabis and psychedelic.
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