Wellbeing Digital Sciences Inc. (“Wellbeing” or the “Company”) (NEO: MEDI) (OTC: KONEF) (FRA: SQ2), an evidence-based mental healthcare company focused on the development and implementation of innovative clinical solutions, including psychedelic medicine and digital therapeutics as supported by clinical research, announces that it has entered into an agreement to manage three additional clinics and accelerate the clinics growth efforts.
Through this agreement, formalized with a Signed Letter of Intent (“LOI”), Wellbeing will be rolling in 3 additional clinics into the Company’s clinical ecosystem, supporting the continued focus on increasing Wellbeing’s North American clinical footprint strategy.
The clinics are well-established providers of pain management based in San Diego and Las Vegas. Under proposed agreement the clinics under Wellbeing management will provide IV Ketamine therapy, clinical trial management and site support for psychedelic medicines, dietary supplements and other natural medicines. In addition, future services may also include digital therapeutics interventions and reconsolidation of traumatic memories (RTM) therapy.
“Our team is excited to join the Wellbeing clinical ecosystem and combine resources to grow our network,” commented Sharron Thompson, MD., Medical Director of San Diego Comprehensive Pain Management. “With Wellbeing’s assistance, we will now be able to expand our treatment options as well as provide novel mental health treatments for a growing patient base in need. The potential results of collaborating and integrating with other clinics within the Wellbeing ecosystem are intriguing, and will yield new patient services, supplementary revenue streams and expansion opportunities in both domestic and international markets. In addition, through our partnership with Wellbeing, we will be able to draw and learn from their past success to increase the profitability of our clinics while being at the forefront of innovation through their research division, KGK Science,” added Dr. Thompson.
“This is an exciting step towards our vision to expand our clinical network and in turn expand patient access to life saving treatments across North America,” said Najla Guthrie, CEO of Wellbeing. “Having built a reputable practice across several locations in both San Diego and Las Vegas, these clinics will benefit from the Company’s operational and administrative support and leading-edge clinical resources while maximizing value for our shareholders. Wellbeing has extensive experience in this sector having created growth in profitability at our other locations and we are eager to replicate that success at additional sites.”
The LOI is subject to due diligence, required approvals and settling in addition to executing the proposed Definitive Agreement. The transaction is expected to be completed in Q4, subject to signing a Definitive Agreement.
ABOUT WELLBEING DIGITAL SCIENCES
Wellbeing Digital Sciences Inc. is an evidence-based mental healthcare company focused on the development and implementation of innovative clinical treatment solutions, including psychedelic medicine and digital therapeutics, as supported by clinical research. Its mission is supported by a network of North American clinics that provide forward-thinking therapies and other types of treatment to patients as well as through a contract research organization that offers clinical trials services to clients pursuing drug development. For additional information, please visit wellbeingdigital.co.
On behalf of:
Chief Executive Officer
WELLBEING DIGITAL SCIENCES
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