We are keen to repeat the expansion and profitability performance of our clinics at new sites within our clinical ecosystem given the Company's considerable expertise in this industry.
Through this arrangement, which is formalized by a signed letter of intent (or "LOI"), Wellbeing will integrate three more clinics into its clinical ecosystem, advancing its objective to expand its North American clinical footprint. These well-known pain treatment clinics have locations in San Diego and Las Vegas. The clinics managed by Wellbeing will offer IV ketamine treatment, clinical trial management, and site assistance for psychedelic medications, nutritional supplements, and other natural therapies under the planned arrangement. Future services could potentially involve reconsolidation of traumatic memories (RTM) treatment and digital therapeutic interventions.
According to Sharron Thompson, MD, Medical Director of San Diego Comprehensive Pain Management, "Our team is pleased to join the Wellbeing clinical ecosystem and combine resources to build our network." "Thanks to Wellbeing's support, we are now able to increase our treatment choices and offer cutting-edge mental health therapies to an expanding number of patients.
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Interacting and cooperating with other clinics within the Wellbeing ecosystem has the potential to produce new patient services, additional income sources, and growth prospects in local and foreign markets.Additionally, thanks to our collaboration with Wellbeing, we will be able to build on and learn from their prior successes in order to boost the clinics' profitability while maintaining a leading position in innovation thanks to their research branch, KGK Science," said Dr. Thompson. According to Najla Guthrie, CEO of Wellbeing, "this is an important milestone towards our objective to extend our clinical network and, in turn, improve patient access to life-saving medicines across North America."
“Having created a respected practice across numerous sites in both San Diego and Las Vegas, these clinics will benefit from the Company’s operational and administrative assistance and leading-edge clinical resources while maximizing value for our stockholders. Having increased profitability at our existing locations, Wellbeing has a wealth of expertise in this field, and we are ready to build on that success at new locations.
In addition to finalizing the proposed Definitive Agreement, the LOI is subject to due diligence, requisite permissions, and settlement. Under the condition that a Definitive Agreement is signed, the deal is anticipated to close in Q4.
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ABOUT DIGITAL SCIENCES IN WELLBEING
A clinical research-based organization, Wellbeing Digital Sciences Inc. focuses on the creation and use of cutting-edge clinical treatment options, such as psychedelic medication and digital treatments. A network of North American clinics that offer cutting-edge treatments and various sorts of care to patients, as well as a contract research firm that provides clinical trials services to customers interested in drug development, support the organization's objective.
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