Numinus provides update on acquisition integration and announces new client financing options

Numinus Wellness Inc. (TSX: NUMI | OTCQX: NUMIF) is pleased to provide an update on the integration of the Novamind acquisition, which completed on June 10, 2022.

The Company’s US clinics have continued to perform well during fiscal Q4 (the three months ended August 31, 2022), with strong client appointment growth in recent months.  During August, more than 6,200 client appointments were held across Canada and the US, representing 25% growth compared to July. In total, the Company’s eight US wellness clinics – six in Utah and two in Arizona – completed more than 4,900 client appointments in August, representing an increase of 22% from July.

Numinus is proud to provide a wide range of mental health care services, including traditional therapy, counseling, Transcranial Magnetic Stimulation (TMS), Ketamine-assisted therapy, and – when approved through Canada’s Special Access Programme – psychedelic-assisted therapy. 

Numinus is currently focused on growing its Ketamine-assisted therapy (“KAT”) offering across Canada.  Ketamine Therapy sessions at Numinus’ US clinics (including KAT, Spravato and Ketamine medicine) grew 35% in August, compared to July, to 1,520 appointments. Demand for TMS services also continues to grow. During August, the Company completed 725 TMS appointments – a 23% increase relative to the prior month.

Cedar Clinical Research, the clinical trial management division of Numinus that was acquired through Novamind, also continues to achieve positive operational growth. During Numinus’ fiscal fourth quarter, the division recruited 178 clinical trial participants for 16 third-party clinical studies, representing an 19% increase in clinical trial participation compared to the fiscal third quarter.

Numinus will release its fiscal fourth quarter and annual 2022 financial results on November 29, 2022.

Numinus’ new brand has already been successfully applied to all of the Company’s digital assets. By the end of 2022, Numinus intends to launch a new comprehensive client website, providing information and booking tools for all of the Company’s wellness clinics.  The rebranding of Numinus’ physical wellness clinics is also now underway.  Signage and office designs across all 13 wellness clinics are expected to be updated before the end of 2022 to reflect the new unified Numinus brand.

Numinus is pleased to announce that it is launching a new financing option for clinic patients in Canada. The Company expects this new option will increase the accessibility of its traditional therapy and Ketamine-assisted therapy to a wider client population.

“We understand that some people in need of therapy face financial hurdles in accessing treatments, so we’re proud to provide another option for clients to consider,” said Jason Lapensee, SVP, Operations.

Offered through iFinance, a third-party financing partner, Numinus’ new financing option will allow Canadian clients to apply for financing with interest rates based on the applicant’s credit history.  Once approved, Numinus will provide the requested therapy services and collect full payment from iFinance following the completion of the treatment plan.

Numinus Wellness helps people to heal and be well through the development and delivery of innovative mental health care and access to safe, evidence-based psychedelic-assisted therapies. The Numinus model – including psychedelic production, research and clinic care – is at the forefront of a transformation aimed at healing rather than managing symptoms for depression, anxiety, trauma, pain and substance use. At Numinus, we are leading the integration of psychedelic-assisted therapies into mainstream clinical practice and building the foundation for a healthier society.