He says that part of what attracted him to Novamind was its business model, which he says is both sound and scalable. “The combination of Novamind’s network of mental health care clinics and research sites in the U.S., and Numinus’s leadership in psychedelic-assisted psychotherapy in Canada creates a best-in-class company.”Īccording to Nyquvest, the acquisition has been in the planning for several months. “This transaction offers significant value for Novamind’s shareholders,” adds Yaron Conforti Novamind CEO and co-founder in the statement. “Our combined capabilities will deliver exceptional value for our clients, employees and shareholders.”
“We expect this acquisition will significantly bolster our financial performance, growing Numinus’ annual revenue to more than five times our current levels, and driving meaningful margin improvement through identified operating efficiencies,” says Payton Nyquvest, Numinus founder and CEO in a press release. Numinus projects that it will lead other companies in the sector in 2022 with annual revenue of approximately CAD$10 million ($7.9 million U.S.) based on the trailing four quarters. The all-share transaction for the acquisition of Toronto-based Novamind is expected to be complete in June 2022.
is set to acquire Novamind Inc., which operates a network of psychiatry clinics with a focus on psychedelics. Vancouver-based mental health care company Numinus Wellness Inc. The psychedelics industry is seeing the first signs of a much anticipated consolidation.
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