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Novo Integrated Sciences, Inc. (Symbol: NVOS) is a key player in the primary healthcare services sector, offering a comprehensive range of services designed to cater to diverse patient needs. The company, along with its subsidiaries, has built a robust portfolio that includes physiotherapy, chiropractic care, manual/manipulative therapy, occupational therapy, eldercare, massage therapy, acupuncture, and functional dry needling.
Additional services offered by Novo Integrated Sciences encompass chiropody, stroke and traumatic brain injury/neurological rehabilitation, kinesiology, vestibular therapy, concussion management and baseline testing, trauma-sensitive yoga and meditation for concussion-acquired brain injury and occupational stress-PTSD, women's pelvic health programs, and sports medicine therapy. Moreover, the company provides assistive devices, dietitian and holistic nutrition services, fall prevention education, sports team conditioning programs, and private personal training services.
The company is also involved in the assessment, diagnosis, treatment, pain management, rehabilitation, education, and prevention of various orthopedic, musculoskeletal, sports injury, and neurological conditions. This positions Novo Integrated Sciences as a holistic healthcare provider, dedicated to improving patient outcomes through a variety of therapeutic and rehabilitative services.
Among its recent achievements, Novo Integrated Sciences has been recognized for its commitment to patient care and the integration of advanced therapeutic techniques. The company's two primary segments—healthcare services and product sales—reflect its diversified approach, with healthcare services generating the majority of its revenue.
As an evolving entity, Novo Integrated Sciences continues to explore new partnerships and innovative treatment programs aimed at enhancing its service offerings. This forward-thinking approach ensures that the company remains at the forefront of the healthcare industry, providing valuable and effective solutions for a wide range of medical conditions.
Novo Integrated Sciences (NASDAQ:NVOS) reported significant growth for its fiscal third quarter ending May 31, 2021, with revenues soaring to $2.38 million, a 129.3% increase from $1.04 million in Q3 2020. Cash and cash equivalents stood at $8.3 million, alongside total assets of $42.2 million and stockholders' equity of $36.6 million. The adjusted EBITDA was $91,744. The company attributed revenue growth to eased COVID-19 restrictions, allowing more in-person services. Recent acquisitions, including Acenzia Inc. and PRO-DIP LLC, highlight its growth strategy amid ongoing challenges due to the pandemic.
Novo Integrated Sciences (NASDAQ:NVOS) has appointed Dr. Indrajit Sinha as Chief Science Officer, effective June 24, 2021. With over 25 years of experience in drug development and biotechnology, Dr. Sinha aims to enhance Novo's growth strategy focused on integrated healthcare services. He previously founded Biomedcore, which developed the patented Zgraft platform for cancer prediction. CEO Robert Mattacchione expressed confidence in Dr. Sinha's expertise to drive innovation in patient care and product development, emphasizing Novo's commitment to decentralized healthcare delivery.
Novo Integrated Sciences (NASDAQ:NVOS) announced the acquisition of Acenzia Inc., valued at $14.88 million or $3.91 per share, completed on June 24, 2021. This all-share transaction enhances Novo's decentralized healthcare model by integrating Acenzia's nutraceutical health solutions, featuring advanced bio-science research, proprietary manufacturing, and personalized diagnostics. The acquisition aims to strengthen Novo's control over therapeutic product development and distribution, with Acenzia's leadership continuing to advance proprietary oncology technology and other innovative health products.
Novo Integrated Sciences, Inc. (NASDAQ: NVOS) has signed a Share Exchange Agreement to acquire Acenzia Inc. for $14,884,039. Acenzia specializes in nutraceutical health solutions and has developed a patented technology platform for cancer diagnostics using zebra fish. The acquisition aims to enhance Novo's decentralized healthcare model by integrating advanced wellness products and personalized diagnostics into their offerings. Acenzia, licensed by multiple international agencies, operates a 36,000 sq. ft. facility in Windsor, Ontario, focusing on dietary and nutraceutical manufacturing.
Novo Integrated Sciences, Inc. (NASDAQ:NVOS) has completed the acquisition of PRO-DIP, LLC, an innovative company known for its patent-pending oral pouch delivery system for nutritionally focused products. Valued at $755,385, this all-share transaction is seen as a strategic move to bolster Novo's health science IP portfolio. The acquisition aims to leverage PRO-DIP's technology and team to enhance product offerings in the healthcare sector. PRO-DIP’s unique ION Energy pouches deliver vitamins and natural supplements effectively, targeting various market applications.
Novo Integrated Sciences (NASDAQ: NVOS) has announced a Share Exchange Agreement to acquire PRO-DIP, LLC for $755,385, or $3.98 per share of NVOS common stock. Upon closing, PRO-DIP will become a wholly owned subsidiary. PRO-DIP's patented oral pouch technology delivers vitamins and energy supplements, catering to expanding markets, including military and medical sectors. CEO Robert Mattacchione highlighted the acquisition's alignment with the company's focus on preventative healthcare and the potential to broaden their product offerings globally.
Novo Integrated Sciences (NASDAQ:NVOS) has established a Medical Advisory Board, welcoming Dr. Joseph M. Chalil, Dr. Michael G. Muhonen, and Dr. Zach P. Zachariah. This initiative aims to enhance patient engagements via advanced medical technology and therapeutic integration. CEO Robert Mattacchione highlighted the board's crucial role in expanding the company's geographic presence and strengthening its healthcare model focused on home-based patient care. The diverse expertise of the members is expected to drive the company's growth and innovation in the healthcare sector.
Novo Integrated Sciences, Inc. (NASDAQ:NVOS) announced the completion of a registered direct offering totaling approximately $8 million on April 13, 2021. The offering involved 2,338,050 shares of common stock sold to institutional investors at a price of $3.35 per share, accompanied by warrants to purchase the same number of shares. After fees, the net proceeds were around $7.26 million, which will be allocated for strategic activities, working capital, and other corporate purposes to accelerate growth. Maxim Group LLC acted as the sole placement agent.
Novo Integrated Sciences (NASDAQ: NVOS) reported its fiscal second quarter results for the period ending February 28, 2021. Revenues decreased by 14.5% to $2,075,894, largely due to reduced patient visits amid the COVID-19 pandemic. Operating expenses rose significantly by 109% to $2,077,390, driven by increased amortization, salaries for new executives, and legal fees. The net loss expanded to $1,339,870 or $0.06 per share, a 165.6% increase from the previous year. Despite these challenges, the company remains optimistic about future growth.
Novo Integrated Sciences (NASDAQ:NVOS) has announced a securities purchase agreement with accredited institutional investors to sell approximately $8.0 million of common stock and warrants in a registered direct offering and concurrent private placement. The agreement includes the sale of 2,388,050 shares at $3.35 per share. Expected net proceeds are around $7,258,500. The offering will close on or about April 13, 2021, subject to customary conditions. Maxim Group LLC is the placement agent for this transaction.
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