Irwin Naturals Inc. IWINF IWIN (FRA:97X) signed a binding, arms-length, agreement to acquire Serenity Health, LLC in Louisville, Kentucky, on November 25, 2022.
Klee Irwin, CEO of Irwin Naturals, stated, “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.
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.
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.
Photo: Benzinga; Sources: courtesy of Kunlanan Yarist and luchschenF via Shutterstock)
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