A 3D illustration of the effects of psychedelic drugs.
The psychedelic wellness space got a huge boost today that could bring it closer to the forefront of healthcare.
Delic, a provider of psychedelic medicines and treatment, has acquired Ketamine Wellness Centers, for nearly $3.3 million. As a result of the transaction, Delic now operates 13 ketamine infusion centers in the U.S, making it the largest network of psychedelic wellness clinics in the country.
According to a news release announcing the deal, KWC is planning to open 15 additional clinics over the next 18 months. Recently, the company scored a capital infusion of $7 million due to a private placement. Currently, KWC runs clinics in Arizona, Colorado, Florida, Illinois, Minnesota, Nevada, Texas, Utah, and Washington.
With this deal, KWC will operate under the Delic umbrella and be led by KWC CEO Kevin Nicholson, who is now the new chief operating officer for Delic. In this new role, Nicholson will focus on the growth and expansion of the psychedelic wellness clinics for the company.
On “becoming part of the Delic family,” Nicholson expressed profuse excitement. “They are an industry leader and uphold the highest standards in developing new, science-backed medicines and treatments and making them more accessible to a wider group of people,” he said in a public statement, With the full support of Delic behind us, KWC will be on an accelerated path to growing our network of clinics throughout the U.S. and bringing more effective, affordable treatments to communities.”
Delic co-founder and CEO Matt Stang is hoping the deal will broadens awareness of psychedelics, bringing it more into the mainstream. “We can now reach millions of people suffering from various mental health conditions who have lost hope of finding effective, affordable treatments,” he said. “As more treatments, such as MDMA and psilocybin, become FDA-authorized for medical use, we have the potential to help millions more people through the clinics.”
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Headquartered in Mesa, Arizona, KWC was founded in 2011.
