VANCOUVER, British Columbia--(BUSINESS WIRE)--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:
Najla Guthrie
Chief Executive Officer
WELLBEING DIGITAL SCIENCES
Notice Regarding Forward-Looking Information:
This news release contains forward-looking statements including but not limited to statements regarding the Company’s business, assets or investments, as well other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, investor interest in the business and prospects of the Company.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.
