Numinus Wellness today announced a strategic acquisition that will also power a rebrand for the Vancouver-based mental healthcare innovator.
Numinus launched in 2019 with an aim to research and develop safe psychedelic-assisted psychotherapies. This week, the B.C. firm acquired MedBright AI Investments, a Vancouver neighbour.
Established in 2001, MedBright deploys artificial intelligence and machine learning that equips medical professionals to deliver increased healthcare access, reduced costs, and improved patient outcomes.
The combination of companies will see a merging of MedBright’s intelligent technological capabilities and the deep mental health and wellness data and experience that Numinus possesses, according to a statement from the firms.
“This acquisition is the culmination of our efforts over the past year to align Numinus with the revenue growth opportunities we see in the U.S. mental health care sector with the delivery of high-quality care to a large population of patients in need of drug-assisted therapy and mental health services,” commented Payton Nyquvest, who serves Numinus as chief executive officer.
“This is also a testament to the entire Numinus team,” the CEO continued, “Who over the past four years has built an optimized clinic network that delivers great patient care at high levels of efficiency.”
Numinus plans to leverage expertise across therapy, clinic management, and patient care into “a unique AI-enabled offering” that will be available to mental health care providers.
Furthermore, to signify the new corporate focus, the joint firm will be known as Numinus Intelligence, a name that “reflects the commitment to leveraging AI and data science to expand mental health services and solutions across the U.S.,” the company says.
“We believe that harnessing our expertise and intellectual property to complement MedBright’s AI technology will amplify our ability to help those in need of care while driving revenue growth and, importantly, profitability,” Nyquvest stated.
“MedBright is dedicated to empowering healthcare providers with AI, and we believe this mission is vital for addressing the global mental health crisis,” commented Dr. Jaime Gerber, Chairman of the Board of MedBright AI and Associate Professor of Clinical Medicine at Yale School of Medicine. “We look forward to generating value that will benefit both MedBright and Numinus shareholders.”
“I believe this merger will accelerate the mission of and opportunity for both companies,” stated Michael Dalsin, the current largest shareholder of MedBright and an experienced advisor to the company. “I see a pathway to revenue growth and profitability with this merger, and I am enthusiastic about its potential.”
Eight Capital is acting as Numinus’ financial advisor for the transaction. The company’s ticker symbol of the Toronto Stock Exchange will remain NUMI.
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