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Revitalist Increases Pipeline to Eight Clinics in Five States
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Rhea-AI Summary
Revitalist Lifestyle and Wellness Ltd. (CSE: CALM, OTC: RVLWF) has signed a binding letter of intent on October 25, 2021, to acquire a ketamine clinic in Jacksonville, Florida, marking its eighth clinic in five states. The clinic, established in 2017 and managed by Dr. Nicholas Kalynych, specializes in ketamine infusion treatments for mood disorders and chronic pain syndromes. The acquisition, estimated at $100,000, will be partly funded by shares and cash. With this move, Revitalist aims to enhance its brand visibility and healthcare services, especially for the local veteran community.
Positive
Acquisition of a ketamine clinic in Jacksonville enhances Revitalist's service offerings.
Total of eight clinics planned, indicating strong growth potential.
Experienced management team led by Dr. Kalynych with over 30 years in healthcare.
Negative
None.
VANCOUVER, British Columbia--(BUSINESS WIRE)--
REVITALIST LIFESTYLE AND WELLNESS LTD. (“Revitalist” or the “Company”) (CSE: CALM) (OTC: RVLWF) (FSE:4DO) is pleased to announce it has entered into a binding letter of intent (“LOI”) dated October 25, 2021 to acquire a ketamine clinic (“Acquisition”) located in Jacksonville, Florida (“Clinic”). This represents a total of eight clinics in the Company’s clinic pipeline in five states.
The Clinic was founded in 2017 and is an established practice managed by Dr. Nicholas Kalynych. Dr. Kalynych, is a Certified Registered Nurse Anesthetist with over 30 years of experience in health care. He earned his Doctorate of Nursing Practice from the University of North Florida and has held several executive level positions at hospitals and universities in the state. The Clinic provides ketamine infusion treatments for many mood disorders, including depression, post-partum depression, bipolar depression, PTSD, OCD, and anxiety. They also treat chronic pain syndromes like chronic migraines, CRPS (formerly called RSD), fibromyalgia, phantom limb syndrome, trigeminal neuralgia and post-herpetic neuralgia. Since inception, the Clinic has provided over 800 infusions.
Under the contemplated Acquisition, Mr. Kalynych will continue to manage the Clinic and utilize his extensive administrative and clinical expertise to expand the clinics services lines and open future clinics for the Company. The Clinic would be supported alongside the Company’s existing network of clinics, raising the profile of Revitalist’s brand and approach to patient care in the United States.
Pursuant to the terms of the LOI, the consideration contemplated for the Acquisition is estimated to be $100,000 USD. The consideration is proposed to be payable as approximately $40,000 in common shares of Revitalist and $60,000 in cash. The share consideration will be issued at the greater of $0.50/share and the 20-day volume weighted average share price preceding the issue date. The consideration shares will be issued 50% in 12 months and 50% in 24 months following the closing of the Acquisition.
Management Commentary
Kathryn Walker, CEO of Revitalist, commented: “We expect great things to come from our expansion into Jacksonville and look forward to providing care to the community, including its large population of veterans and military staff. Jacksonville is home to multiple military facilities including Naval Station Mayport, Naval Air Station and Naval Submarine Base Kings Bay (Ga), giving Jacksonville the third largest military presence in the county. With nearly 10% of the residents being veterans and three Veterans Affairs centers in the area, Jacksonville was a logical strategic move for us to expand.”
Dr. Kalynych, founder of the Clinic, commented: “I am excited for the opportunity to join Revitalist and look forward to utilizing my network within the Florida medical community to capitalize on expansion within the state.”
ABOUT REVITALIST LIFESTYLE AND WELLNESS
Revitalist Lifestyle and Wellness Ltd. (CSE: CALM) (OTC: RVLWF) (FSE: 4DO) is a publicly traded company, headquartered in Knoxville, Tennessee, with five clinics operating across the United States and expanding. Revitalist is dedicated to empowering individuals toward an improved quality of well-being through a combination of comprehensive care and future-centric treatments provided by medical professionals, mental health experts, and chronic pain specialists. Since opening their first clinic in 2018, Revitalist has provided thousands of infusions for patients suffering from treatment-resistant conditions. Additionally, Revitalist offers a number of lifestyle optimization services and vitamin infusions that can bring anyone closer to total wellness. For more information, please visit www.revitalist.com or follow us at:
On Behalf of the Board
Kathryn Walker Chief Executive Officer
For additional information and to be added to the Company’s mailing list, please click here.
Forward Looking Statements
This news release contains forward-looking statements and information within the meaning of applicable securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. 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.
Risks, uncertainties, and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
