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Tuesday, 10/04/2022 7:11:17 AM

Tuesday, October 04, 2022 7:11:17 AM

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“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.”

my posts are always theory and not financial advice