Numinus Wellness Charts Path To Profitability While Strengthening Community Ties

Rhea-AI Summary

Numinus Wellness has announced a strategic blueprint aimed at enhancing its presence in the U.S. and accelerating its path to profitability. The company plans to optimize costs and expand its network of wellness clinics and clinical research facilities. Key initiatives include a comprehensive membership program and a partnership with the Canadian Centre for Psychedelic Healing (Field Trip Health). This collaboration involves transitioning Numinus' Canadian therapists to Field Trip Health, closing clinics in Montreal, Toronto, and Vancouver, and leasing space for clinical trials at Field Trip Health's Vancouver clinic. The companies have also signed a 3-year training and marketing agreement to further their common interests. The plan emphasizes scalable growth, shareholder returns, and broader access to psychedelic-assisted therapies.

Positive

• Strategic blueprint aimed at enhancing U.S. presence.
• Cost optimization initiative to strengthen existing networks.
• Launch of a comprehensive membership program under Numinus Network.
• Partnership with Field Trip Health to leverage its expertise and network.
• 3-year training and marketing agreement with Field Trip Health.
• Potential for increased shareholder returns.
• Transition of Canadian therapists to Field Trip Health with revenue-sharing.
• Continued research efforts with leased space at Field Trip Health's Vancouver clinic.

Negative

• Closure of Numinus clinics in Montreal, Toronto, and Vancouver.
• Potential disruption for existing patients and therapists during the transition.
• Dependence on the success of the partnership with Field Trip Health.

Vancouver, British Columbia--(Newsfile Corp. - May 30, 2024) - Numinus Wellness Inc. (TSX: NUMI) (OTCQX: NUMIF) ("Numinus'' or the "Company"), a leader in mental health care and in advancing evidence-based psychedelic-assisted therapies, announces a strategic blueprint aimed at fortifying its footprint across the United States.

Through a comprehensive cost optimization initiative, Numinus is poised to strengthen its already established network of U.S. wellness clinics and cutting-edge clinical research facilities. Simultaneously, the Company is ramping up efforts to elevate awareness and participation in its practitioner training program.

Central to this strategic vision is the rollout of a comprehensive membership program under its Numinus Network initiative, which prioritizes scalable growth and reinforces the Company's commitment to maximizing shareholder returns.

"We are excited to enter this next stage of our development, which sharpens our focus on expanding access to psychedelic-assisted therapies and accelerates our path to profitability. We aim to empower a broader community of drug developers and healthcare providers by optimizing our therapy, research, and training expertise. This strategic focus is about bringing transformative treatments within reach of those who can benefit the most," said Payton Nyquvest, Numinus Founder and CEO.

As part of the plan, Numinus has partnered with the Canadian Centre for Psychedelic Healing ("Field Trip Health"), renowned for its pioneering work in psychedelic-assisted therapy clinics in Canada. Therapists contracted with Numinus in Canada will now have the opportunity to transition to Field Trip Health, with Numinus earning a share of the revenue from patient referrals.

Following this transition, Numinus clinics in Montreal, Toronto, and Vancouver will close. Field Trip Health will take over the Montreal clinic and acquire some assets from all three locations, solidifying its presence in the Canadian market. Meanwhile, Numinus will continue its research efforts, leasing space at Field Trip Health's Vancouver clinic for certain clinical trials.

Numinus and Field Trip Health have also entered into a dynamic 3-year training and marketing agreement to collaborate on projects that further the common interests of each company. Field Trip Health will endorse Numinus psychedelic-assisted therapy training and will develop content that will be hosted on the Company's learning portal. Numinus will endorse Field Trip Health's clinics, earning a referral fee on those who join Field Trip Health. They will also work together on marketing campaigns for training, therapist recruitment and patient recruitment.

"We are enthusiastic about building a long-term strategic relationship with Numinus," said Ian Ruberry, CEO of Field Trip Health. "Clinicians actively pursue top-tier training and demand safe, nurturing environments to optimize client care. Our collaboration with Numinus precisely guarantees that across our expanding clinic network, ensuring a gold standard of service delivery."

Former Canadian Numinus therapists and healthcare professionals transitioning to the Numinus Network will retain access to cutting-edge therapeutic protocols, ongoing support, and promotional opportunities within the Numinus community.

This collaboration with Field Trip Health will grant Numinus Network members access to essential medical infrastructure for the therapeutic administration of ketamine and other psychedelic drugs within Canada's regulatory framework. Once the pilot program is complete, Numinus will launch and market a subscription-based model in Canada and the U.S.

"In transitioning out of operating Canadian clinics, we took great care in identifying a company that shares our client safety and care values," added Nyquvest. "We are grateful to have had the opportunity to work with skilled and caring therapists, medical professionals and clinic staff and to be able to guide hundreds of patients on their mental health journey. We look forward to continuing to support these services in Canada through our Numinus Network and the arrangement with Field Trip Health."

About Numinus

Numinus Wellness Inc. (TSX: NUMI) focuses on mental health care and offers safe, evidence-based psychedelic-assisted therapies. Their approach aims to heal, not just manage, symptoms of depression, anxiety, trauma, pain, and substance use. Numinus is leading the way in integrating psychedelic-assisted therapies into mainstream clinical practice.

Learn more at www.numinus.com and follow us on LinkedIn, Facebook, and Instagram.

Numinus Wellness Inc.

Payton Nyquvest
payton@numinus.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/210776

FAQ

What is Numinus Wellness' new strategic blueprint?

Numinus Wellness' new strategic blueprint aims to enhance its U.S. presence, optimize costs, expand its network of wellness clinics and clinical research facilities, and launch a comprehensive membership program.

What is the significance of Numinus' partnership with Field Trip Health?

The partnership allows Numinus to transition its Canadian therapists to Field Trip Health, close its Canadian clinics, and earn a share of revenue from patient referrals. They will also collaborate on training and marketing.

How does the new plan affect Numinus' clinics in Canada?

Numinus will close its clinics in Montreal, Toronto, and Vancouver, with Field Trip Health taking over the Montreal clinic and acquiring some assets from all three locations.

What is the role of the new membership program under the Numinus Network initiative?

The membership program aims for scalable growth and reinforces Numinus' commitment to maximizing shareholder returns and broadening access to psychedelic-assisted therapies.

What financial benefits does Numinus expect from its new strategic plan?

The plan is designed to streamline operations, optimize costs, and potentially increase shareholder returns through scalable growth and new revenue streams from partnerships and membership programs.