Numinus Wellness Focuses on Enhancing Profitability with US Expansion
The TDR Three Key Takeaways regarding Numinus Wellness
- Numinus unveils a strategy to focus on profitable U.S. operations.
- This announcement follows other significant announcements of progress since the new year.
- A strategic partnership between Numinus and Field Trip Health was established.
Numinus Wellness Inc. (TSX: NUMI, OTCQX: NUMIF), a mental health care leader specializing in innovative and evidence-based treatments, unveils a strategic initiative aimed at reducing costs and focusing on its more profitable U.S. operations. This strategy is set to enhance its U.S. wellness clinics and clinical research facilities, increase visibility, and grow enrollment in its training programs. It also includes launching a comprehensive membership program through its Numinus Network initiative to achieve scalable growth with minimal capital investment and maximize shareholder returns.
Since the new year started, the company has been busy executing its strategic plan. In February, the company announced a successful $6M financing. In March, the company submitted its MDMA group trial clinical trial application. Last month, Numinus was selected by Cybin to provide services for its Phase 3 study of CYB003.
Regarding this progress, Payton Nyquvest, Numinus Founder and CEO, says, “We are thrilled to embark on this new growth phase, focusing on broadening access to psychedelic-assisted therapies and fast-tracking our profitability. Our goal is to enable a wider community of drug developers and healthcare providers by leveraging our therapy, research, and training expertise. This focus is centered on making transformative treatments more accessible to those who stand to benefit most.”
Under the strategic plan, Numinus has reached an agreement with the Canadian Centre for Psychedelic Healing, known as “Field Trip Health”, which provides psychedelic-assisted therapy at five clinics across Canada under the Field Trip Health brand. Canadian therapists contracted with Numinus can choose to join Field Trip Health. With this deal, Numinus will earn revenue from referring its existing Canadian clients to Field Trip Health. Once the transition of operations is complete, Numinus plans to shut down its clinics in Montreal, Toronto, and Vancouver. Field Trip Health will acquire certain assets from these sites and will take over the space presently rented by Numinus at 397 Avenue Laurier Ouest, Montreal. Additionally, Numinus will lease space in Field Trip Health’s Vancouver clinic to conduct specific clinical trials.
Furthermore, the company and Field Trip Health have established a three-year collaboration focused on training and marketing to benefit both organizations mutually. Field Trip Health will endorse Numinus’ psychedelic-assisted therapy training and develop content for the Company’s educational platform. In exchange, the company will promote Field Trip Health’s clinics and receive a referral fee for therapists who sign up with Field Trip Health. Together, both organizations will collaborate on marketing efforts aimed at training and recruiting therapists and patients.
“We are excited to establish a long-lasting strategic partnership with Numinus,” commented Ian Ruberry, CEO of Field Trip Health. “Clinicians seek high-quality training and environments that support optimal client care. Our partnership with Numinus ensures these standards across our growing network of clinics, maintaining a high level of service.”
Members of the Numinus Network, including former Canadian Numinus therapists and healthcare professionals, will maintain access to the latest therapeutic protocols, including ketamine and psychedelic-assisted therapies. They will benefit from ongoing support, such as supervisory and mentorship opportunities with Numinus’ medical and clinical leaders and certified training programs. Members will also enjoy continuous learning, discounts on Numinus training, and promotion of their professional profiles. Collaboration with clinic operators like Field Trip Health will provide members access to vital medical infrastructure for administering ketamine and psychedelic drugs within Canada’s regulatory framework. After completing the pilot program, Numinus plans to introduce and market a subscription-based model in Canada and the U.S.
“In transitioning our Canadian clinic operations, we carefully chose a partner that aligns with our commitment to client safety and care,” added Mr. Nyquvest. “We are thankful to have worked with skilled therapists, medical professionals, and clinic staff and guided hundreds of patients in their mental health journeys. We look forward to continuing to support these services in Canada through our Numinus Network and our partnership with Field Trip Health.”
We will continue to watch Numinus progress and continue to update our readers.
