- Irwin Naturals (IWIN) has announced an agreement to acquire Ketamine Health Centers (KHC) Capital Group
- KHC owns a chain of five ketamine treatment clinics in Florida and a partnership contract with two affiliate clinics in Mexico
- Irwin will issue dual-class shares equivalent to 1,066,667 subordinate voting shares (SVS), assume US$1.6M in debt and issue up to US$2.5M in earn-out incentives
- Irwin Naturals is a household name in herbal supplements currently expanding into cannabis and psychedelics
- Irwin Naturals (IWIN) is down by 0.27 per cent trading at $3.69 per share
Irwin Naturals (IWIN) has announced an agreement to acquire KHC Capital Group.
KHC owns a chain of five ketamine treatment clinics in Florida as well as a partnership contract with two affiliate clinics in Mexico.
Irwin will issue dual-class shares equivalent to 1,066,667 SVS and assume or pay off approximately US$1.6M of debt at closing. It will also pay up to US$2.5M in SVS as earnings-based incentives.
KHC members will be entitled to receive an additional payment equal to 10 times the contracting entities’ 2022 EBITDA less the value of the consideration shares by Q1 2023.
Irwin views the acquisition as an essential step toward becoming the world’s largest chain of psychedelic mental health clinics. It sees itself as a first-mover in the space and will be leveraging its brand toward rapid expansion with a focus on using its existing national scale to drive down patient costs.
“The number of patients treated per month at Ketamine Health Centers makes this acquisition in our national roll-up particularly exciting,” stated Klee Irwin, Irwin’s CEO. “With each acquired clinic to be renamed Irwin Naturals Emergence, we are the world’s first household name to enter the psychedelic mental health treatment sector. This transaction brings the total of our U.S.-based clinics to six locations.”
Irwin Naturals is a household name in herbal supplements currently expanding into cannabis and psychedelics. Its products are available in over 100,000 locations across North America.
Irwin Naturals (IWIN) is down by 0.27 per cent trading at $3.69 per share as of 11:05 am EST.