“Not everybody is is going to be perfectly suited for psychedelic assisted psychotherapy right out of the gate, but to to establish a relationship with a clinic that understands and speaks that language and to have practitioners who can help prepare people for the integration aspects of psychedelic assisted therapy, which is arguably as important or potentially more important than the actual psychedelic treatment itself,” Nyquvest explained. He thinks a lot of ketamine therapy clinics have focused too much on developing a ketamine product and not as much on growing and maintaining the client experience and connectability. He added that the other side to Novamind’s appeal is with regard to developing a sustainable business model, which Nyquvest believes Novamind has achieved. He said they are looking forward to deepening relationships with insurance providers, especially as more patented compounds continue to “come online.” Nyquvest further explained that Novamind, which operates solely in the United States, has made significant inroads in getting insurance coverage for ketamine-assisted psychotherapy, which is a boon for the deal. It really has a sustainable and scalable factor to it that we we have yet to really see in the psychedelic space,” Nyquvest said. We’re doing so with a platform that is sustainable, generating great revenue and has great operating gross margins. This acquisition is really a very strong foot forward in regards to that. “We've been looking for a meaningful way to make an entry into the US market. We’ve been working in in Canada to develop that model and have partnered with groups like MAPS to help with the MDMA for PTSD work, we have also worked with psilocybin,” Nyquvest explained, adding that they also do a host of “traditional mental health services, as well as ketamine-assisted psychotherapy.” “So, ultimately, has to go through a platform where that therapy can be offered. Nyquvest added that though there is rightly and understandably a “effort being paid to doing research on particular compounds or trying to identify new novel compounds” in the psychedelics medicine space,” which is important for Numinus, he and the company also believe that it’s “equally or more so” important to develop psychedelic-assisted psychotherapy, which is the business line targeted by this acquisition. “We've been working really hard since since we started the company to develop what we believe is the model in which psychedelic therapy needs to fit into, as well as how it's going to scale across North America,” Nyquvest said. platform through eight established, reputable, efficiently operating and revenue-producing clinics,' says Payton Nyquvest, founder and CEO of Numinus. The Novamind acquisition presents a transformational opportunity for Numinus to launch a strong U.S. 'Since Numinus began, we have always strived to be the most trusted, evidence-based leader in psychedelic-assisted therapy and medicine. The acquisition is anticipated to generate C$3 million in annual cost synergies, the majority of which relate to the elimination of duplicative public company expenses and operational systems, further supporting margin enhancement. It is expected to be immediately accretive to Numinus' revenue and gross profit, and, based on forecasts and efficiencies of scale, will shorten the timeline of Numinus' path to profitability. The acquisition also accelerates Numinus' path to profitability.

Novamind news