U.S. wellness clinics sold to Stella, including a
data-sharing partnership to launch a technology-driven clinic
management solution for mental health care providers.
- Numinus Wellness clinics acquired by Stella for US$3.53 million
- Numinus focusing on business units and product development
("Numinus Network") to facilitate clinic efficiency and care
reimbursement for mental health practitioners
- Stella partnering with Numinus to share operational data from
its network of 12 mental health clinics, supporting the development
of advanced clinic management solutions for mental health
practices, including insurance reimbursement support
- Creates an asset-light business with a synergistic combination
of clinical support, practitioner training and clinical research
with a strengthened balance sheet
VANCOUVER, BC, Dec. 17,
2024 /PRNewswire/ - Numinus Wellness
Inc. ("Numinus" or the "Company") (TSX: NUMI)
(OTCQX: NUMIF) (FSE: LR23), a mental healthcare company advancing
traditional and innovative behavioral health treatments including
safe, evidence-based psychedelic-assisted therapies, announces the
closing of the previously announced definitive agreement with
Stella, an interventional psychiatry practice focused on
treating PTSD, anxiety and depression with biological
modalities, of the sale of the Company's five Wellness Clinics
in Utah for US$3.53 million.
"Stella and Numinus are very much aligned in terms of standards
of care and a focus on optimized patient outcomes," said
Michael Gershenzon, Co-Founder and
CEO of Stella. "Numinus patients can look forward to the same high
levels of service that the clinics are known for and an expanded
offering of behavioral care. We also look forward to working with
Numinus to improve clinical mental health care nationwide."
"With this transaction, Numinus is re-positioning to leverage
its expertise in patient care, clinic management, relationships
with Insurers and now, significant access to operational data to
assist clinical providers with the challenge to meet the demand of
the growing number of patients seeking treatment," said
Payton Nyquvest, Founder and CEO of
Numinus.
Numinus is developing an AI-based SaaS solution leveraging its
deep patient care expertise. This includes serving about 50,000
unique individuals, over 200,000 appointments, and generating about
250,000 insurance-reimbursed claims. The solution will redefine
clinics' operations, from improving patient outcomes to optimizing
efficiencies and reimbursement processes. The Company estimates a
target market of over 200,000 mental health care providers in the
U.S.
This new asset-light offering complements the Company's Cedar
Clinical Research and practitioner training businesses. Cedar
Clinical Research is the research partner of choice for leading
drug development companies, including traditional pharmaceutical
companies, research organizations, and psychedelic drug development
companies. Year to date, Cedar Clinical has facilitated 24 clinical
trials with almost 1,100 patients, accompanied by strong revenue
growth. Numinus' practitioner training program leverages the
Company's clinic-based treatment and clinical research expertise to
offer a comprehensive training program. Major regulatory bodies
accredit the program; since May 2024,
it has attracted almost 2,000 learners from 18 countries.
"Getting to this point in our development would not have been
possible without the skilled and caring therapists, medical
professionals and clinic staff who have helped guide hundreds of
patients on their mental health journey," added Mr. Nyquvest. "With
our new offering, we look forward to helping practitioners across
the U.S. meet the growing demand and improve patient care."
Details of the Agreement
Stella MSO LLC acquired Numinus Wellness' five U.S.
clinics for a total consideration of US$3.53 million:
- Total consideration of US$2.08
million paid at closing
- Consideration of US$750,000 paid
over six equal monthly instalments in 2025
- Earn-out compensation of up to US$0.7
million to be paid in 2025
- Stella is in the process of finalizing a partnership with
Numinus, where Stella will provide operational data from its
network of 12 mental health clinics
About Numinus
Numinus Wellness Inc. (TSX: NUMI) helps people to heal and be
well through the development and delivery of innovative mental
health care and access to safe, evidence-based psychedelic-assisted
therapies. The Numinus model – technology-driven clinic support,
clinical trial research and comprehensive practitioner training –
is at the forefront of a transformation aimed at healing rather
than managing symptoms of depression, anxiety, trauma, pain and
substance use. At Numinus, we are leading the integration of
psychedelic-assisted therapies into mainstream clinical practice
and building the foundation for a healthier society.
Learn more
at www.numinus.com and
follow us
on LinkedIn, Facebook, and Instagram.
About Stella Mental Health:
Stella is an interventional psychiatry practice dedicated to
delivering the most effective mental health protocols for severe
trauma, stress, anxiety, depression, and post-traumatic stress
injury (PTSI). With a team of board-certified physicians, advanced
psychiatric nurse practitioners, psychologists, psychiatrists and
advocates, Stella combines biology, psychology, and psychiatry to
address the complex needs of patients. Stella has 20+ locations
across the United States and
internationally in Israel and
Australia and has treated over
9,500 patients. Learn more at www.stellacenter.com and follow us on
LinkedIn, TikTok, YouTube and Instagram.
Partnership & Media Inquiries:
Daphne Ortiz
daphne.ortiz@stellacenter.com
Forward-looking statements
Statements and other information contained in this press
release about anticipated future events constitute forward-looking
statements. Forward-looking statements are often, but not always,
identified by the use of words such as "seek", "anticipate",
"believe", "plan", "estimate", "expect", and "intend" and
statements that an event "may", "will", "should", "could" or
"might" occur or other similar expressions. Forward-looking
statements are subject to risks and uncertainties and other factors
that could cause actual results to differ materially from those
contained in the forward-looking statements, including information
regarding expectations regarding the potential benefits of the
transaction and the ability of the company to successfully achieve
business objectives; and expectations for other economic, business,
and/or competitive factors, and other risks that are set forth in
our annual information form dated November
29, 2023, and available on SEDAR at
www.sedarplus.ca. Forward-looking statements are based
on estimates and opinions of management at the date the statements
are made. Numinus does not undertake any obligation to update
forward-looking statements even if circumstances or management's
estimates or opinions should change except as required by
applicable laws. Investors should not place undue reliance on
forward-looking statements.
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SOURCE Numinus Wellness Inc.
