StockLogistics
2 years ago
“7:30a ET 12/9/2022 - Globe Newswire
The Addition of Three Mental Health Clinics to Irwin Naturals' Florida Footprint Solidifies the Companies Impact as One of the Fastest-Growing Chains of Mental Health Clinics
Company continues to expand its national network of psychedelic mental-healthcare clinicsGlobeNewswireDecember 09, 2022
LOS ANGELES, Dec. 09, 2022 (GLOBE NEWSWIRE) -- Irwin Naturals Inc. (CSE: IWIN) (OTC: IWINF) (FRA: 97X) ("Irwin" or the "Company") completed the acquisition of the assets of Clare Clinic, Inc., d/b/a Florida Mind Health Center.
The Company entered into an acquisition agreement (the "Agreement") dated October 30, 2022 with Clare Clinic, Inc., d/b/a Florida Mind Health Center, which serves clients out of three healthcare clinics in located in Gainesville, Tallahassee and Panama City, Florida.
The clinics join Irwin Naturals Emergence, a fast-growing national chain offering psychedelic mental healthcare that now includes 8 clinics in Florida.
Klee Irwin, CEO of Irwin Naturals, said "Our roll-up is quickly gathering momentum. This is the eighth ketamine clinic we are adding to our growing portfolio in Florida and is part of our 17 clinics which we have either acquired or have a definitive agreement to acquire in the near future, in over ten states. Our mission is to make this amazingly effective treatment available and accessible throughout the country and beyond. We continue to add to our bottom line through these highly accretive transactions as we focus on acquiring profitable operations."
Zohar Levites, CRNA, ARNP, MS, founder of Florida Mind Health Center, said "We are very excited to be merging with Irwin Naturals and to be a part of something bigger in a field that could transform the way disorders are treated in Florida and nationwide. As a partner of Irwin Naturals Emergence, we will be able to offer cutting-edge services and compassionate care under the name of a household brand with decades of trust among customers."
Building a national chain will create some efficiencies and the cost-benefits that come from economies of scale. The incorporation of Irwin Naturals best practices over time will also help drive down operating costs, savings that can be passed on to customers by providing sliding-scale discounts.”
StockLogistics
2 years ago
“7:30a ET 12/21/2022 - Globe Newswire
Irwin Naturals THC Products to Be Available in Oregon
Company announces licensing agreement with Oregon company to distribute Irwin Naturals THC productsGlobeNewswireDecember 21, 2022
LOS ANGELES, Dec. 21, 2022 (GLOBE NEWSWIRE) -- Irwin Naturals Inc. (CSE: IWIN) (OTC: IWINF) (FRA: 97X) ("Irwin" or the "Company") announced on a licensing agreement with JV 805 LLC dba Hyphae Wellness ("Hyphae Wellness"), one of Oregon's premier mushroom and cannabis product developers, to manufacture, sublicense and distribute Irwin Naturals THC products throughout that state.
Klee Irwin, CEO of Irwin Naturals, said, "We're excited and grateful to have such an incredible partner as we take this next step toward getting Irwin Naturals THC products on the dispensary shelves in every state where cannabis is legal. Oregon is an important market for us, and Geoff Ostrove is a true pioneer in the industry. The team at Hyphae Wellness not only provides state-wide distribution but can also ensure the high-quality that Irwin Naturals customers expect in our products."
Geoff Ostrove, Hyphae Wellness CEO, said, "The chance to work with a national brand like Irwin Naturals is a tremendous opportunity not just for our company, but for our entire state's cannabis industry. This is a household brand that is normalizing and advocating mainstream use of THC, as well as seeking to achieve distribution across the country. We're excited to be chosen as their partner here in Oregon."
Irwin Naturals previously reached licensing agreements for the manufacture and distribution of its THC products in California, Colorado, Ohio, New Mexico, and Michigan. The addition of Oregon means that Irwin Naturals THC products are headed to dispensary shelves in five of the 19 states where marijuana is legal for recreational use, including three of the top five markets in the country.
Irwin Naturals was founded in 1994 and has built itself into a brand that is now recognized in 80 percent of American households1 with best-in-class nutraceuticals, such as its famous "Power to Sleep PM." Irwin Naturals products are available in more than 100,000 stores in North America.
Under the licensing agreement, Irwin Naturals THC products will be manufactured and distributed through Hyphae Wellness, a craft mushroom and cannabis company focused on living soil cultivation methods and solventless manufacturing processes. Based in Eugene, it has state-wide distribution, working with more than 100 retailers across the state. Ostrove has two Master's degrees and a Doctorate from the University of Oregon. In 2016, he became the President and Founder of one of the first companies in Oregon authorized to cultivate cannabis for recreational use.
Cannabis is now legal in the majority of states. However, because it is not legal at the federal level, cannabis products must be approved on a state-by-state basis. Irwin Naturals is achieving national distribution by reaching exclusive licensing agreements with cannabis manufacturers in different states. Of the 19 states that now allow recreational use of marijuana, Irwin Naturals has licensing agreements with companies in five of those states: California, Colorado, Michigan, New Mexico, and now Oregon. It also has a licensing agreement with a company in Ohio where cannabis use is allowed for medical purposes.
Oregon legalized the medical use of marijuana in November 1998 when a citizen initiative was passed by voters. Non-medical cultivation and use of marijuana became legal in the state on July 1, 2015.”
StockLogistics
2 years ago
“7:30a ET 1/10/2023 - Globe Newswire
Irwin Naturals and Braxia Scientific Announce Partnership for In-Human Clinical Studies Supporting Pharmaceutical Companies in the US
GlobeNewswireJanuary 10, 2023
LOS ANGELES, Jan. 10, 2023 (GLOBE NEWSWIRE) -- Irwin Naturals Inc. (CSE: IWIN) (OTC: IWINF) (FRA: 97X) ("Irwin" or the "Company") , is proud to announce it has signed a Letter of Intent entering into a partnership with Braxia Scientific Corp. ("Braxia Scientific"), (CSE: BRAX) (OTC: BRAXF) (FWB: 4960), a medical research company providing psychiatric, innovative ketamine and psilocybin treatments for mental health disorders, to launch Clinical Research Services across Irwin's growing U.S. based network of clinics, Emergence.
The partnership will bring together Braxia's expertise, track record of leadership in innovative mental health treatments and current comprehensive clinical research capabilities to 12 Emergence clinics in 5 US states. Under the terms of the LOI, Irwin will invest up to $2 million over the next 12 months to launch initial clinical research services beginning with at least 5 clinics in Florida.
Irwin and Braxia's partnership will create a leading mental health focused clinical research platform designed to streamline and accelerate the process of in-human clinical development of new therapies, including seamless patient recruitment through to FDA application. The partnership will support multiple large and small pharmaceutical sponsors, innovative biotechnology companies, medical device companies, government and non-governmental institutions who seek to carry out the development of new therapies in the area of mental health in the US.
The mental health leadership of Braxia, through its globally recognized management and clinical development teams, will be a major accelerator and differentiator for Irwin's network of clinics across the US. To date, Braxia's CEO, Dr. Roger McIntyre continues to rank as the world's foremost expert in depression research1. Dr. McIntyre and Dr. Joshua Rosenblat, Braxia Chief Medical and Science Officer have conducted dozens of national and international research studies involving thousands of patients living with depression. This is the type of value added services Emergence is looking to add to its growing network of clinics in the US.
Klee Irwin, CEO, Irwin Naturals commented, "We are extremely pleased to have reached a new milestone in the development of our clinics by establishing a strategic relationship with Dr. McIntyre and his research team. Having an outstanding reputation for scientific expertise, quality clinical research in depression and other mental health disorders areas that will enable us to further develop our US clinical footprint."
Dr. Roger McIntyre, CEO, Braxia Scientific, commented, "We are conducting a number of ongoing clinical trials and are currently receiving requests from various pharmaceutical sponsors to support international programs to develop novel therapies in mental health. We have been developing a plan to reach a broader market in the US and globally. This exciting partnership allows us to expand our expertise in an effective manner by leveraging the existing Irwin infrastructure deployed over a number of states in the U.S."
The partnership is subject to execution of a final definitive legal agreement covering the above and other material terms of the relationship between Braxia and Irwin.”
StockLogistics
2 years ago
“11:21a ET 12/5/2022 - Globe Newswire
Irwin Naturals Files Q3 2022 Financials
GlobeNewswireDecember 05, 2022
Successful Execution on Ketamine Clinic
Rollup Strategy and Cannabis Licensing to Accelerate Future Growth
LOS ANGELES, Dec. 05, 2022 (GLOBE NEWSWIRE) -- Irwin Naturals Inc. (CSE: IWIN) (OTC: IWINF) (FRA: 97X) ("Irwin" or the "Company") announced the Company filed results for its third quarter of fiscal 2022, the period ended September 30, 2022 on www.sedar.com.
Sean Sand, CFO, stated, "Despite cost pressures continuing through the quarter, we were able to grow our Gross Margins by +4.8% over Q3 2021. The Gross Margin increase can be attributed to sales mix coupled with the early success of a targeted price increase across the market. In addition, we were still able to maintain positive Operating Profits despite the additions in the cost base to support the early phases of the Emergence and Licensing businesses."
Mr. Sand continued, "Our balance remains strong, and have access to considerable working capital to fund our accelerated growth plans. To date we have closed or announced agreements to acquire entities or assets amounting to 18 clinics and anticipate several more closing as we exit 2022 and in the coming quarters. In addition, we are continuing our rollout of our licensing deals, which now sees us in six states and in Canada."
Financial Summary
Three months ended Nine Months Ended
(in thousands) September 30, $ % September 30, $ %
Combined Statement of Profit 2022 2021 Change Change 2022
2021
Change Change
Non-CBD operating revenue $ 20,346 $ 20,899 $ (553 ) -2.6 % $ 61,205 $ 66,334 $ (5,129 ) -7.7 %
CBD operating revenue 1,679 2,774 (1,095 ) -39.5 % 5,221 8,067 (2,846 ) -35.3 %
Total Operating Revenue 22,024 23,673 (1,649 ) -7.0 % 66,427 74,401 (7,974 ) -10.7 %
Gross Profit 10,603 10,117 486 4.8 % 31,208 33,970 (2,762 ) -8.1 %
Income from Operations 622 1,232 (610 ) -49.5 % 3,653 8,170 (4,517 ) -55.3 %
Net Profit / (Loss) (583 ) (1,466 ) 883 60.2 % 1,109 5,226 (4,117 ) -78.8 %
As of As of $ %
Statement of Financial Position Sept 30, 2022 Dec 31, 2021 Change Change
Total assets 71,527 47,219 24,308 51.5 %
Total liabilities 41,027 24,103 16,924 70.2 %
Klee Irwin, CEO, commented, "In Q3, Irwin Naturals moved close to becoming the world's largest chain of dedicated psychedelic mental health clinics. In addition, we are rapidly on our way to doubling our profits from last year on an annualized basis based on potential acquisitions in the psychedelic mental. The mental healthcare industry is a 1.5 trillion dollar behemoth in desperate need of a disruptive sea change. With standard treatments having an average effectiveness of approximately 17%, the drastic improvements of results from psychedelic treatments is that sea change. We currently have no meaningful competitors in our rearview mirror and intend to be the world's first chain of clinics in this sector to exceed 100 locations."
Financial Highlights
The 7% decline in overall operating revenues were due largely to supply issues in the CBD segment, related to a reduction in supply at a key supplier. The decline, though still down from prior year, is recovering quarter over quarter. Production of CBD products has restarted at the Company's manufacturer. Other factors impacting sales related to order timing and the loss of distribution of certain non-CBD mass market products.
Income from operations in Q3 2022 came in at $0.6 million, as compared to $1.2M million for the same period in the prior year. The reduction in income was driven primarily by the aforementioned decrease in business volume and startup costs related to Emergence by Irwin Naturals (ketamine clinics) and Irwin Naturals Cannabis (intellectual property licensing to the cannabis industry).
The overall decrease in business volume paired with startup costs related to the Company's initiatives in cannabis and the aforementioned startup costs, resulted in a decrease in Adjusted EBITDA1 to $0.5 million.
Three months ended Nine months ended
(in thousands) September 30, $ % September 30, $ %
2022 2021 Change Change 2022 2021 Change Change
Net Profit $ (583 ) $ (1,466 ) $ 883 60.2 % $ 1,109 $ 5,226 $ (4,117 ) -78.8 %
Interest Expense 181 34 147 432.4 % 541 91 450 494.5 %
Income Tax Expense 1,024 162 862 532.1 % 2,003 351 1,652 470.7 %
Depreciation and Amortization 468 353 115 32.6 % 1,299 1,061 238 22.4 %
EBITDA $ 1,090 $ (917 ) $ 2,007 218.9 % $ 4,952 $ 6,729 $ (1,777 ) -26.4 %
Foreign Exchange (Gain) / Loss (33 ) - (33 ) 100.0 % (45 ) - (45 ) 100.0 %
Listing Expenses - 2,502 (2,502 ) 0.0 % - 2,502 (2,502 ) 0.0 %
Other Income - - - 100.0 % - - - 0.0 %
Adjusted EBITDA $ 1,057 $ 1,585 $ (528 ) -33.3 % $ 4,907 $ 9,231 $ (4,324 ) -46.8 %
1EBITDA is a non IFRS metric that management believes provides a metric for rapid analysis of the underlying strength of the business. A reconciliation from IFRS to EBITDA is provided in the accompanying table above and at the end of this release.
Cash provided by operating activities by Irwin were $3.6 million and $14.6 million for the nine months ended September 30, 2022 and 2021, respectively. The decrease in operating cash flows is primarily due to lower operating revenue and temporary unfavourability to working capital led by the timing of payments to the Company's primary product manufacturer couple with increased cash related to Emergence startup costs.
Operational Highlights & Subsequent Events
Irwin Naturals is executing on an aggressive expansion strategy into the high-growth cannabis and psychedelics sectors. The Company intends to leverage its household name brand status to drive an aggressive rollup of mental health clinics (the Company is focused on ketamine clinics, as this is currently the only FDA-approved and/or regulated psychedelic substance). Furthermore, the Company has begun executing on its brand licensing strategy throughout the US. To date, the Company has announced agreements to acquire entities or assets; or completed the acquisition of such entities or assets amounting to 17 clinics, as well as the signing of seven brand licensing deals that will see Irwin Naturals products enhanced with THC be offered in California, Colorado, New Mexico, Mississippi, Ohio, Michigan and Canada.
State Clinic Acquisitions
Florida Ketamine Health Centers (5 clinics)
Florida Mind Health (3 clinics)
Dura Medical (1 clinic)
Iowa Midwest Ketafusion
New Hampshire New England Ketamine
Mexico Ketamine Health Centers
Vermont Preventive Medicine
Georgia Invictus Clinics (2 clinics)
Washington Tri-Cities Infusion
Idaho Ketamine Infusions of Idaho
Ohio Happier You
Kentucky Serenity Health
State Brand License Recipients
California The Hive Laboratory, LLC
Colorado Larsen Group II, LLC
Ohio BeneLeaves, Ltd
New Mexico Assurance Laboratories, LLC
Canada Entourage Health Corp.
Mississippi Mockingbird Cannabis, LLC
Michigan 42 Degrees Processing, LLC
”
StockLogistics
2 years ago
“7:30a ET 11/30/2022 - Globe Newswire
Irwin Naturals Leverages Household Brand Status in Effort to be World's Largest Chain of Psychedelic Mental Health Clinics
GlobeNewswireNovember 30, 2022
LOS ANGELES, Nov. 30, 2022 (GLOBE NEWSWIRE) -- Irwin Naturals Inc.(CSE: IWIN) (OTC: IWINF) (FRA: 97X) ("Irwin" or the "Company") announced today it reached a binding, arms-length, agreement to acquire Serenity Health, LLC in Louisville, Kentucky, on November 25, 2022. 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. Irwin Naturals was founded in 1994, building itself into a nationally renowned company with its first-in-class line of nutraceuticals that are available in more than 100,000 stores across North America. The Irwin Naturals brand is recognized in 80 percent of American households.1
Klee Irwin, CEO of Irwin Naturals, said, "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. 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 Naturals Emergence already includes clinics in Florida, Vermont, New Hampshire, Iowa, and Georgia. Currently, ketamine is the only psychedelic available for use in the United States outside of clinical trials when used as prescribed. However, MDMA and psilocybin may be authorized for therapeutic use in the future. This creates the possibility of radically changing the way we treat mental-health concerns.
Beth Ann Nevius, cofounder and CEO of Serenity Health, said, "What impressed us about Irwin's approach to America's mental health crisis is its philosophy of using national scale to drive down patient costs. Furthermore, the Irwin team has proven itself capable of building a national brand with an exceptionally faithful customer base. We are looking forward to becoming part of the Irwin team and taking this great brand nationwide, making mental healthcare accessible to all."
Irwin Naturals Emergence is a wholly owned subsidiary of Irwin Naturals, and it was formed when the Company decided to enter the fast-growing sector of psychedelic mental healthcare. 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. This 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' name and reputation makes it an impactful voice in this new area of mental healthcare due to the Company's history in safely caring for the health of its patients vouching for the safety and the efficacy of psychedelic treatment.
Irwin added, "We see ourselves as the Coca Cola first mover, and will be leveraging our brand equity and status as a cult brand to expand rapidly as society embraces the psychedelic mental health revolution. This is important because, as a psychedelic, ketamine is an effective treatment for many mental health disorders. However, some Americans are not clear on its potential. The trusted Irwin brand will be the welcome face of a familiar friend in a crowd of strangers - making this life-saving solution a bit less intimidating to those in need."
The Agreement is subject to certain customary closing conditions and regulatory approvals. The total consideration will be paid in upfront and deferred consideration. Also included are contingent payments based on milestones related to expansion and profitability goals.”
StockLogistics
2 years ago
“7:30a ET 11/9/2022 - Globe Newswire
Irwin Naturals Looks to Add Pacific Northwest Ketamine Clinic to Its National Footprint
Planned addition of Washington facility would mark 17th Prospective clinic signed to join fast-growing network for psychedelic mental healthcareGlobeNewswireNovember 09, 2022
LOS ANGELES, Nov. 09, 2022 (GLOBE NEWSWIRE) -- Irwin Naturals Inc. (CSE: IWIN) (OTC: IWINF) (FRA: 97X) ("Irwin" or the "Company") has reached a binding, arm's length agreement to acquire the assets of Tri-Cities Infusion & Wellness Clinic, PLLC on November 5, 2022 which is located in Kennewick, Washington.
This will be the first facility in Washington for Irwin Naturals Emergence, a fast-growing national chain of psychedelic mental-health clinics. This will be the 17th facility the chain has signed on or acquired across eight different states.
Klee Irwin, CEO of Irwin Naturals said, "We believe this type of treatment has the capacity to change the way we care for mental health in this country. We've sought to move to the front of this market by moving fast while also being incredibly selective. Ben and Tyler have built a practice that epitomizes what we're looking for both in terms of top-notch care as well as sound business fundamentals."
Tyler Thornock and Ben Clark are the co-owners of the clinic, which opened in April 2019. They combine to offer more than 20 years of experience in the field. Both are certified registered nurses with special training for anesthesia.
The clinic offers ketamine infusion, which has been used to treat a variety of mood disorders. It also offers nutrient IV infusions, aesthetic procedures and regenerative treatments such as platelet-rich plasma (PRP) injections.
Ben Clark, CRNA, APRN, owner of Tri-Cities Wellness, said, "We noticed a void in our area when it came to ketamine treatment, and built our practice to bring these life-changing treatments to our community. Becoming part of Irwin Naturals Emergence gives us a chance to join something bigger that will create change on a truly national scale."
Irwin Naturals began in 1994, providing best-in-class nutraceutical products. Today, Irwin Naturals products are stocked on the shelves of more than 100,000 storefronts in North America and its brand name is recognized in 80 percent of U.S. homes.1
The Company moved into psychedelic mental healthcare earlier this year, announcing its plan to build a national chain of clinics under the umbrella of Irwin Naturals Emergence. It has vetted the more than 600 independent ketamine clinics currently operating in the United States, seeking to identify profitable clinics whose level of customer care meets the exacting standards embodied by the Irwin Naturals brand. The Company has sought to add those clinics that meet these criteria to Irwin Naturals Emergence, which is a wholly owned subsidiary of Irwin Naturals.
Irwin Naturals Emergence previously announced agreements with a total of 16 clinics located in seven different states. Last month, it announced an acquisition agreement with a clinic in Idaho.
Operating at a national scale will offer some increased efficiencies such as the ability to purchase services in bulk. Implementing economies of scale will also help drive down operating costs, a savings that can be passed on to customers by providing sliding-scale discounts and even pro bono treatment for those in need.
Klee Irwin, Irwin Naturals CEO, "We are a nationally known brand that our customers know and trust. This helps us not only provide security and assurance to our customers, essentially vouching for the quality of these treatments and services. It also gives us confidence as we apply our proven business approach to this exciting new area of care."
Transaction terms
The transaction is back-end loaded, aligning the sellers' interest with the Company and its shareholders. The total consideration is to be paid in stock, with the maximum payable contingent on a number of milestones related to profitability and operational goals. Further detail will be provided upon closing.”
StockLogistics
2 years ago
“7:30a ET 11/7/2022 - Globe Newswire
Irwin Naturals THC Products to be Available In Mississippi Dispensaries
Company announces licensing agreement with Mockingbird Cannabis in new medical marijuana marketGlobeNewswireNovember 07, 2022
LOS ANGELES, Nov. 07, 2022 (GLOBE NEWSWIRE) -- Irwin Naturals Inc. (CSE: IWIN) (OTC: IWINF) (FRA: 97X) ("Irwin" or the "Company") announced today a licensing and supply agreement with Mockingbird Cannabis, LLC ("Mockingbird Cannabis") to produce and distribute Irwin Naturals THC products in Mississippi.
Klee Irwin, CEO of Irwin Naturals said, "For 28 years, we have safely cared for the health of our customers, and we look forward to being the trusted friend on the shelves of Mississippi dispensaries for medical marijuana. The state-of-the-art facility that Clint Patterson and his team have put together in Mississippi and their leading position in the market makes Mockingbird Cannabis the perfect partner as we seek to make Irwin Naturals THC products available in every state it is legal."
Clint Patterson, CEO Mockingbird Cannabis LLC said, "We're excited that Irwin Naturals chose us to produce and distribute this line of products. Irwin Naturals is a company that has made its name with first-in-class products, and we're excited to take this next step with them in Mississippi."
Irwin Naturals was founded in 1994,and has built itself into a brand recognized in 80 percent of American households1 with its best-in-class nutraceuticals, such as its famous "Power to Sleep." Irwin Naturals products are available in more than 100,000 stores in North America. Under this licensing agreement, Mockingbird Cannabis will augment Irwin Naturals products with THC and make them available to Mississippi dispensaries where they will be sold under the Irwin Naturals brand name.
Mockingbird Cannabis is the largest licensed medical marijuana cultivator currently operating in Mississippi. Its massive facility is located just outside Raymond, totaling more than 163,000 square feet with 16 grow rooms. It's expected to ultimately employ more than 200 people2. The property was formerly used by the state's Department of Revenue.
In 2020, Mississippi voters overwhelmingly approved an initiative to legalize marijuana for medical purposes. However, that initiative was struck down by the state's Supreme Court. The state legislature passed a bill earlier this year to legalize medical marijuana, and it was signed into law by the governor. As of last month, more than 100 dispensaries had been licensed by the state with the expectation that sales will begin by the end of the year.3 Mockingbird Cannabis is expected to be one of the first companies to have product that is ready to market.
Cannabis is now legal in the majority of states. However, because it is not legal at the federal level, products must be approved on a state-by-state basis. As a national brand, Irwin Naturals is leveraging its brand by reaching licensing agreements with cannabis manufacturers on a state-by-state basis.”
StockLogistics
2 years ago
“2:37p ET 11/3/2022 - Benzinga
Florida's Growing Psychedelic Treatment Options: Healthcare Company Expands Network Of Clinics
Senior health brand Irwin Naturals Inc. (OTC: IWINF) has entered into a binding agreement to acquire the assets of Clare Clinic Inc., d/b/a Florida Mind Health Center, operating three Florida healthcare clinics offering ketamine-assisted therapy, NAD+ and additional IV therapies.
The facilities, located in Gainesville, Tallahassee and Panama City respectively, will join Irwin Naturals Emergence, the company's national clinics chain offering psychedelic mental healthcare along with several other clinics in Florida.
"We're not just acting fast, we're acting first with the goal of building the biggest chain of psychedelic mental-healthcare clinics in the country, and Florida is becoming a cornerstone,' said CEO Klee Irwin.
As for the newly-added clinics, Irwin said their business fundamentals and compassionate dedication to the implementation of the revolutionary new treatments make this 'a perfect pairing' to the company's goals.
Certified nurse anesthetist and experienced healthcare professional Zohar Levites is the founder and chief administrator of the Florida Mind Health Center, the first of three clinics opened in Gainesville in 2018, followed by Tallahassee and Panama City facilities.
'This is an opportunity to become part of something bigger in an area of care that can fundamentally change the way we treat disorders not just in Florida, but across the country. Joining Irwin Naturals Emergence will enhance our efficiency and put our cutting-edge services and compassionate care behind a household name with decades worth of customer trust,' Levites said.
In early 2022, Irwin Naturals announced its intention to move to the forefront of psychedelic mental healthcare by assembling a national chain of clinics. It has been doing that by vetting the more than 600 independent US ketamine clinics to identify which are profitable and consistent with the company in order to invite them to join the Irwin Naturals Emergence network.
'We will be a beacon in this new area of mental healthcare. We've safely cared for your health needs for 28 years, which provides some assurance for our customers, sort of holding the hand of those looking into these new life-changing treatments. It's safe. It's effective. We send a message simply by being in the space,' Irwin said.
Photo courtesy of Pexels.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.”
StockLogistics
2 years ago
“11:56a ET 10/5/2022 - Benzinga
Ketamine Therapy At Your Doorstep, Growing Number Of Clinics Offer This Treatment Option
Being the sole psychedelic legally available as medicine, ketamine-assisted therapy services are expanding at a rapid pace across the U.S.
The most recent news includes the incorporation of a Western ketamine infusion clinic into a renowned network of clinics providing psychedelic-assisted therapy, new ketamine therapy options to expand treatment availability in view of a therapist shortage on the East Coast and a management agreement between two ketamine therapy providers on the West Coast.
Irwin Naturals Acquires And Adds Idaho Clinic To Its â??Emergence' Chain Of Psychedelic Services
Irwin Naturals Inc. (OTC: IWINF) signed a binding agreement for the acquisition of Ketamine Infusions of Idaho PLLC, which operates a clinic in Idaho Falls.
The facility is set to join Irwin Naturals Emergence, the company's national chain of psychedelic mental health clinics, as its first medical center in Idaho.
'We built our practice on a steadfast belief that we could help people who were suffering. Becoming part of Irwin Naturals Emergence not only validates that belief, but it allows us to become part of a network that will make these treatments available at a national scale behind a trusted brand,' said Ketamine Infusions founder Christina Stubbs
Operating since early 2022, the Emergence chain is a wholly-owned subsidiary of household brand Irwin Naturals which has reached agreements that will or have already added 11 clinics across six different states, including Ohio, Vermont, Iowa, New Hampshire, Georgia and Florida.
By building a national chain, Irwin expects to offer efficiencies and profit from savings due to economies of scale and the incorporation of its branded best practices.
'We provide a level of reassurance simply by being in this space. We've safely cared for your health needs for 28 years, and we will continue to do that with these new, life-changing treatments that are safe, effective, and can provide relief to those in need,' said CEO Klee Irwin.
Braxia's KetaMD Expands Access to Ketamine Therapy In South Eastern State Through Safe Telehealth Platform
”
StockLogistics
2 years ago
“3:46p ET 10/4/2022 - Benzinga
This Nutraceutical Company Stands To Become Leader In A Projected $50B Industry, New Analyst Insights
Irwin Naturals Inc., (OTCQB: IWINF) a household name in nutraceuticals for nearly nearly 30 years ventured into the cannabis industry with its own CBD line and THC licensing. Now, the company is looking to establish its presence in the psychedelics space as well.
The company's latest move was the acquisition of all issued and outstanding shares of growth clinics agency Keta Media LLC. The deal includes KM's global network's relationships with treatment centers in over 45 states and three countries.
The Analyst
Cantor Fitzgerald analyst Pablo Zuanic initiated coverage on the company stock with an Overweight rating and a Dec. '23 price target of CA$9.62 ($7).
The Thesis
The company plans to have 100 clinics under its banner by the end of next year and provide Ketamine-assisted treatments and other psychedelics-based therapies once the substances become legal on the federal level, Zuanic said in his latest note. Currently, there are roughly 600 behavioral clinics that offer psychedelics-based treatments out of 14,000 across the country, he added.
"Assuming that in the next five years, 15% of the US adult population with a diagnosed mental illness (15% x 25% x 258mn) uses Ketamine-assisted therapy and other psychedelics-based therapy (if legal by then), the market could be worth ~$50Bn (taking an average of $5,000 per patient for the treatment)."
Moreover, with $100 million in sales for 2021 and products available in over 100,000 shops nationwide, in addition to its CBD business, Irwin continues to bolster the process of licensing the brand for THC in several states where it's legal, such as Michigan, Ohio, Colorado, New Mexico and California, to name a few.
"Based on the TAM potential for the sector, a sector leader in the psychedelics clinics space could be worth $45Bn in five years, as per our estimates," Zuanic said adding that it is not yet clear how the sector will play out.
However, "there is plenty of uncertainty about how this specific sector plays out, and the Irwin roll-up strategy has inherent execution risks," said Zuanic.
Photo: Courtesy of Tumisu, sergeitokmakov by Pixabay
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.”
StockLogistics
2 years ago
“7:01a ET 10/4/2022 - Dow Jones
Press Release: Irwin Naturals Agrees to Add Idaho Clinic to Its National Chain of Psychedelic Mental-Health Clinics
Irwin Naturals Agrees to Add Idaho Clinic to Its National Chain of Psychedelic Mental-Health Clinics
Irwin Naturals Emergence announces acquisition agreement in Idaho, continuing national rollup of ketamine clinics
LOS ANGELES, Oct. 04, 2022 (GLOBE NEWSWIRE) -- Irwin Naturals Inc. (CSE: IWIN) (OTC: IWINF) (FRA: 97X) ("Irwin" or the "Company") has reached a binding agreement on September 30, 2022 to acquire Ketamine Infusions of Idaho, PLLC, which operates a clinic in Idaho Falls.
The clinic will join Irwin Naturals Emergence, a fast-growing national chain of psychedelic mental-health clinics, which already has deals to add a total of 11 clinics across six different states. This clinic will be the chain's first in Idaho.
Klee Irwin, CEO of Irwin Naturals said, "We are so impressed by the care and expertise that Christina Stubbs and her team provide, and we are truly excited to welcome this clinic into our rapidly expanding family. Additions like this are the way we'll realize our goal of putting Irwin Naturals Emergence at the forefront of psychedelic mental healthcare in this country."
Ketamine Infusions of Idaho was founded in 2020 by Christina Stubbs, who grew up in Southeast Idaho. She earned her bachelor's degree in nursing at the University of Utah, and her work at University Neuropsychiatric Institute in Salt Lake City made her passionate about mental health. In 2011, she received her master's degree in nurse anesthesia from the University of New England.
Christina Stubbs, CRNA, owner of Ketamine Infusions of Idaho, said, "We built our practice on a steadfast belief that we could help people who were suffering. Becoming part of Irwin Naturals Emergence not only validates that belief, but it allows us to become part of a network that will make these treatments available at a national scale behind a trusted brand."
Irwin Naturals goes back to 1994 when it began providing best-in-class nutraceuticals. Today, Irwin Naturals products are stocked on the shelves of more than 100,000 storefronts in North America and its brand name is recognized in 80 percent of U.S. homes.(1)
Earlier this year, the Company announced its plan to build a national chain of psychedelic mental-healthcare clinics under the umbrella of Irwin Naturals Emergence, a wholly owned subsidiary of the Company. The Company began vetting the more than 600 independent ketamine clinics currently operating in the United States, seeking to identify clinics that were profitable and exhibited a standard of patient care consistent with the Irwin Naturals brand. When it identified clinics that met both criteria, the Company sought to add them to the chain.
Irwin Naturals Emergence has previously reached agreements which will or have added 11 clinics across six different states: Ohio, Vermont, Iowa, New Hampshire, two in Georgia and five in Florida.
Building a national chain will offer some efficiencies and the savings that come from economies of scale. The incorporation of Irwin Naturals best practices will also help drive down operating costs, a savings that can be passed on to customers by providing sliding-scale discounts and even pro bono treatment for those in need.
But the biggest value may come from the customer trust that Irwin Naturals has built up over the past 28 years. It will be an ambassador for this new approach to mental healthcare.
Klee Irwin, Irwin Naturals CEO, "We provide a level of reassurance simply by being in this space. We've safely cared for your health needs for 28 years, and we will continue to do that with these new, life-changing treatments that it is safe, it is effective and it can provide relief to those in need."
Currently, ketamine is the only psychedelic available for use in the United States outside of clinical trials. However, MDMA and psilocybin may be authorized for therapeutic use in the future. The effectiveness of these treatments in clinical trials points to the possibility of further revolutionizing the field mental-health treatment.
Transaction terms
The transaction is back-end loaded, aligning the sellers' interest with the Company and its shareholders. The total consideration is to be paid in a combination of cash and stock, with the maximum payable contingent on a number of milestones related to profitability and operational goals. Further detail will be provided upon closing.”
StockLogistics
2 years ago
“5:00p ET 9/29/2022 - Globe Newswire
Irwin Naturals Acquiring Ketamine Media
Nation's Leading Growth Platform for Ketamine Clinics to Drive Expansion of Irwin's Emergence Clinics ChainGlobeNewswireSeptember 29, 2022
LOS ANGELES, Sept. 29, 2022 (GLOBE NEWSWIRE) -- Irwin Naturals Inc. (CSE: IWIN) (OTC: IWINF) (FRA: 97X) ("Irwin" or the "Company") today announced a definitive agreement to purchase all of the issued and outstanding shares of Keta Media, LLC dba Ketamine Media ("Ketamine Media"), the nation's leading growth platform for clinics offering ketamine-assisted therapy. With a global network dedicated to improving patient outcomes, KM has established relationships with clinics in over 45 states and three countries and connects providers and patients using a unique patient-centered approach to communication.
Irwin CEO Klee Irwin says, "While this transaction will contribute immediately to our profitability, this acquisition is driven predominantly by strategic considerations. Ketamine Media will support our mission to bring healing to people suffering from mental health disorders. We are in acquisition discussions with many clinics who tell us that Ketamine Media has been almost solely responsible for their growth, and we are excited to have them as part of the Irwin family."
Irwin anticipates that the acquisition will help accelerate the identification and completion of new potential clinic transactions and that it will be able to leverage KM's capabilities to increase utilization rates at its existing and future Emergence-branded clinics. KM's approach to education and awareness creation fit seamlessly with Irwin's mission to bring a truly disruptive therapy with significantly higher cure rates, as compared to traditional therapies, to the masses.
Chris Walden, CEO of Ketamine Media, added, "We will continue providing the high level of services our clients are accustomed to. For us, this deal will give us access to growth capital that will allow Ketamine Media to add new advisory services that will greatly benefit all our clients at a much more rapid pace. Ketamine Media wants to help encourage more collaboration within this emerging space between providers in local markets. During our discussions with Irwin Naturals, we identified a number of parallels in our belief system, including a desire to help our existing book of business to achieve the outcomes that led them to sign up with KM. We believe that Irwin Naturals will be successful in their strategy to become a leading international brand of psychedelic mental health clinics."
This Agreement is subject to certain customary closing condition and regulatory approvals. The total consideration at closing will be paid in cash consideration, including the assumption of certain debts of Ketamine Media. The total consideration is to be paid in a combination of cash and stock, with the maximum payable contingent on a number of milestones related to profitability and operational goals. Further detail will be provided upon closing.”
StockLogistics
2 years ago
“6:01p ET 9/23/2022 - Globe Newswire
Company Announces Normal Course Issuer Bid for Subordinate Voting Shares of the Corporation
GlobeNewswireSeptember 23, 2022
LOS ANGELES, Sept. 23, 2022 (GLOBE NEWSWIRE) -- Irwin Naturals Inc. (CSE: IWIN) (OTC: IWINF) (FRA: 97X) ("Irwin" or the "Company") announced today its intention to commence a normal course issuer bid ("NCIB"), under which the Company may purchase up to 75,466 of the Company's Subordinate Voting Shares ("SVS" or "Shares") over a 12-month period, representing approximately 5% of its issued and outstanding SVS as of September 26, 2022.
The Company is pursuing an NCIB because it believes that, from time to time, the market price of its Shares may not fully reflect the underlying value of the Company's business and future prospects. Irwin believes that, at such times, the repurchase of its Shares for cancellation represents an appropriate use of the Company's financial resources and will enhance shareholder value. CEO, Klee Irwin, commented, "We are emerging to be the dominant player in the disruptive psychedelic mental health care sector. Our roll-up of ketamine clinics is picking up momentum. Management and the board believe that, as the market recovers and as the company continues to demonstrate profit growth that shareholder value will be very positively impacted. As a result, we are taking advantage of the depressed stock market to buy back some of our stock."
NCIB
Canaccord Genuity Corp. has been appointed by the Company to coordinate and facilitate its NCIB purchases. Purchases are expected to commence on September 26, 2022 and will conclude on September 26, 2023, or an earlier date in the event purchases under the NCIB have been completed or if the Company feels it is appropriate. All Shares purchased by the Company under the NCIB will be purchased on the open market through the facilities of the Canadian Securities Exchange ("CSE") and/or alternative trading systems at the market price of the Shares at the time of acquisition. Shares will be purchased at the discretion of senior management of the Company. The average daily trading volume of the Shares on the CSE for the last six months is 1644. Shares acquired by the Company under the NCIB will be cancelled. During the last twelve months, the Company has not purchased any Shares under a normal course issuer bid through the facilities of the CSE
StockLogistics
2 years ago
“8:30a ET 6/21/2022 - Globe Newswire
Irwin Naturals Continues To Expand Clinic Footprint
EQNX::TICKER_START (CNSX:IWIN.CN),(Frankfurt:97X),(OTC US:IWINF),(Other OTC:IWINF), EQNX::TICKER_END Irwin Naturals Inc. (CSE: IWIN) (OTC: IWINF) (FRA: 97X) ("Irwin" or the "Company") will add to its rapidly growing chain of psychedelic mental health centers, announcing today that it has signed a definitive agreement to acquire two clinics in Georgia.
Irwin has entered into a binding agreement to acquire 100% of the issued and outstanding membership interest in Invictus Clinic, LLC, a healthcare company operating clinics in Atlanta and Woodstock, Georgia. The clinics offer ketamine assisted therapy, as well as hydration and NAD+ therapy.
Klee Irwin, CEO, said, "We are adding EBITDA to our bottom line with every clinic we bring into the fold. With our recently announced transaction in Vermont (Preventive Medicine), we are now up to 9 clinics acquired or under definitive purchase agreement. We are pleased to welcome the Invictus team, and I look forward to working with Brandon, Wesley and the team to bring our brand into Georgia."
Wesley Karcher, MSN, CRNA, Co-Founder of Invictus, added, "From our very first conversation with the Irwin team, and Klee himself, we could tell that their hearts were in the right place for this space and that they had a solid strategic plan in place to maximize everyone's success. We are motivated by two drivers: to bring these life changing treatments to those in need, and to do so with the understanding that maintaining a successful and profitable business plan will allow us to reach a greater population and broader demographic. These life-changing and life-saving treatments should not be restricted to geographical location or socioeconomic status. In combining with Irwin Naturals, we become a part of a much larger, eventually national, footprint."
Dr. Brandon Grinage, Co-Founder of Invictus, added, "The immediate brand equity we gain, the economies of scale that can be achieved, and the philosophy of ensuring treatments will be accessible also for people of lower income, were key reasons for us to enter into this transaction. We look forward to working with the Emergence by Irwin Naturals team, and to making a significant and positive difference in a growing number of people's lives."
Irwin has reached agreements to add a total of nine clinics in four different states in less than three months during this national rollup. Irwin previously completed the acquisition of five clinics in Florida and one in Iowa. Irwin also has an agreement to acquire New England Ketamine, which is located in New Hampshire. The addition of the two Invictus clinics will make Georgia the fourth state to become part of Emergence by Irwin Naturals, a rapidly growing chain of psychedelic health clinics.
For more information on this and the Preventive transactions, announced on June 17, 2022, please view this interview with CEO Klee Irwin.
Irwin became a household name because of its best-in-class nutraceutical products. Irwin products are available in more than 100,000 stores in North America and Irwin Naturals is a brand known by 80 percent of U.S. households**. Irwin's expansion into the psychedelic space will provide consumers with a trusted name in an emerging area of care.
Klee Irwin concluded, "We believe the strength of our brand will reduce the mental barrier for many people when they engage with this type of therapy."
The Agreement is subject to certain customary closing conditions and regulatory approvals.
Transaction terms
The transaction is back-end loaded, aligning the sellers' interest with the Company and its shareholders. The total consideration is to be paid in a combination of cash and stock, with the maximum payable contingent on a number of milestones related to profitability and operational goals. Further detail will be provided upon closing.
”
StockLogistics
2 years ago
“7:00a ET 6/17/2022 - Globe Newswire
Irwin Naturals Expands Operations into Northeast with Acquisition of Vermont-Based Clinic
EQNX::TICKER_START (CNSX:IWIN.CN),(Frankfurt:97X),(OTC US:IWINF),(Other OTC:IWINF), EQNX::TICKER_END Irwin Naturals Inc. (CSE: IWIN) (OTC: IWINF) (FRA: 97X) ("Irwin" or the "Company") announced today it has entered into a binding agreement to acquire the assets of Hobie Fuerstman D O PLC, doing business as Preventive Medicine ("Preventive"), a clinic operation based in Colchester, Vermont.
Klee Irwin, CEO of Irwin Naturals, said, "Our roll-up is gathering momentum. This is the eighth ketamine clinic we are adding to our growing portfolio, which now covers four states, made up of acquired clinics and clinics under definitive agreements. Our mission is to make this amazingly effective treatment available and accessible throughout the country and beyond, and we are planning to acquire and build hundreds of clinics in the months and years to come. As we focus on acquiring profitable operations, we continue to add to our bottom line through these highly accretive transactions."
Hobie Fuerstman, owner and director of Preventive, added, "We're excited that Irwin Naturals has selected us to be the first Emergence partner in Vermont. There's a lot of good that can come from merging with a nationally recognized and well-respected brand. Our mission has always and will always be, to provide the highest quality holistic care. This collaboration will allow us to amplify the reach of our integrative healthcare clinic, which means we can help more people without compromising our values."
The Agreement is subject to certain customary closing conditions and regulatory approvals. The total consideration is to be paid in a combination of cash and stock, with the maximum payable contingent on a number of milestones related to profitability and operational goals. Further detail will be provided upon closing.
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