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Revitalist and Wake Network Announce Joint Venture Partnership to Open Psychedelic Clinics and Retreats in the United States
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
Revitalist Lifestyle and Wellness Ltd. (CSE: CALM, OTCQB: RVLWF) announced a joint venture with WAKE Network, Inc. to open psychedelic clinics and retreats focused on personalized medicine. The joint venture aims to create the world's first vertically integrated psychedelic company, leveraging Wake's psilocybin platform, including Jamaica's largest psilocybin mushroom facility. Revitalist reported a year-to-date revenue of $2.43 million as of June 30, with over 16,000 appointments, achieving a growth rate exceeding 300% year-over-year. Market analysis predicts significant growth in the ketamine treatment market, estimated to reach $3.87 billion by 2027.
Positive
Year-to-date revenue of $2.43 million as of June 30, indicating strong financial performance.
Growth of over 300% in appointments from the previous year highlights increased demand for services.
Establishment of a joint venture with WAKE Network to enhance market presence in psychedelic wellness.
Potential to lead in the expanding ketamine treatment market, projected to grow significantly by 2027.
Negative
None.
VANCOUVER, British Columbia--(BUSINESS WIRE)--
REVITALIST LIFESTYLE AND WELLNESS LTD. (“Revitalist'' or the “Company”) (CSE: CALM) (OTCQB: RVLWF) (FSE: 4DO), Revitalist and WAKE Network, Inc. announce the joint venture partnership opening psychedelic clinics and retreats with vertical offerings with a personalized medicine and therapy approach.
Revitalist continues to establish its presence as a first full-service psychedelic wellness clinic offering ketamine infusions, therapy, integrative and functional medicine, education curriculums, and psychedelic wellness retreats.
Wake Network’s vertically integrated psilocybin platform includes Jamaica’s largest psilocybin mushroom facility with multiple psilocybin imports to Canada and the United States. This allows increased access under the joint partnership with a special focus in Oregon and Washington state. Wake’s intention to bring their proprietary cultivation, therapy technology, and psychedelic wellness platform allows the joint partnership to be the first vertically integrated psychedelic company in the world.
Revitalist’s US Clinics year-to-date revenue reporting at June 30 of $2.43M USD with over 16,000 appointments taking place January 1 to November 1 shows an increase in growth of over 300% from the previous year.
Revitalist CEO, Kathryn Walker, states, “The joint partnership with Wake Network allows us to continue to effectively lead an extremely fast growing market. With recent reporting of the market analysis, the ‘ketamine treatment market size was valued at USD 132.43 million in 2021 and is expected to expand at a CAGR of 75.52% during the forecast period, reaching USD 3871.44 million by 2027.’ With healthcare experts from Revitalist and expert biotech developers from Wake, it will be exciting to see this partnership’s revenue potential.”
Wake CEO, Nick Murray, states, “The personalized, multi-psychedelic approach we are offering through the joint partnership with Revitalist allows greater access along with an advanced medicine approach. This will accelerate the growth of both companies on an international level with revenues combined from the psilocybin, ketamine, and personalized medicine markets.”
About WAKE Network, Inc.
WAKE Network, Inc. is a vertically integrated, naturally derived psilocybin bioscience company focused on advancing the field of psychedelic and fungi-based therapeutics to address the growing need for mental health support in medicine and society at large. Wake is currently producing fungus-derived psilocybin and medicinal mushroom products through pharmaceutical grade research with a goal to provide quality access to all through proprietary genomic and biomarker processes.
About Revitalist Lifestyle and Wellness, Ltd.
Revitalist Lifestyle and Wellness Ltd. (CSE: CALM) (OTCQB: RVLWF) (FSE: 4DO) is one of the largest publicly listed, ketamine focused clinic operations in the United States. Each clinic enables access to psychedelic medicine, vitamin infusions and other lifestyle optimization services provided by medical and behavioral professionals. Since opening their first clinic in 2018, Revitalist has provided thousands of ketamine infusions through its network of 9 clinics operating in 6 states. Its founder and CEO, Kathryn Walker, works as a lead provider in the psychedelic space as an advanced behavioral and medical provider. For additional information please visit Revitalist.com.
On Behalf of the Board
Kathryn Walker Chief Executive Officer
This news release contains forward-looking statements and information within the meaning of applicable securities legislation. Forward looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Revitalist to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release.
