KetamineOne Continues to Build Out Leading North American Presence
September 13th, 2021
Psychedelics, Top Story
Ketamine has become a promising mental health therapeutic in recent years. With the FDA’s approval of Spravato, for example, the treatment has the potential to alleviate depressive symptoms in as little as 24 hours — far less time than traditional Selective Serotonin Reuptake Inhibitors or other therapies. And researchers are just beginning to understand and appreciate these effects.
KetamineOne Capital Limited (NEO: MEDI) (OTC: KONEF) (FFT: MY0) (“Ketamine One” or the “Company”) is quickly becoming a North American leader in the space by consolidating medical clinics and establishing itself as a mental health platform.
A Growing Footprint
Ketamine One’s subsidiary, Integrated Rehab and Performance Ltd., which was recently re-branded as IRP Health, announced four new veteran-owned, multidisciplinary clinics in the Comox Valley, Ottawa, Halifax, and Surrey regions. The Comox Valley and Ottawa locations will open in September, while the Halifax and Surrey centers will open by the year’s end.
Ketamine One’s EBITDA targets for 2022. Source: Investor Presentation
More recently, the Company signed two new letters of intent with Illumma to acquire ketamine infusion clinics in Texas, bringing its proposed U.S. footprint to six clinics. The two properties are already leading ketamine infusion practices treating individuals with mental health issues, mood disorders, and chronic pain issues in Austin and Bee Cave, Texas.
“The Illumma team is excited to join forces with KetamineOne as we usher in this new paradigm shift in mental health treatment and care,” said Illumma Founder Dr. Ken Adolph. “Throughout this partnership, we will not only be able to help more people heal their mental health issues like depression, anxiety, and post-traumatic stress disorder.”
Ketamine One operates a network of 16 clinics throughout North America with plans to further consolidate the fragmented industry. In addition to near-term revenue from ketamine infusions, the growing footprint provides an ideal base for when psychedelics become more widely legalized, including psilocybin, MDMA, and other substances.
Ketamine One aims to become a psychedelics leader over time. With the acquisition of KGK Science, the Company’s contract research division places it at the forefront of premium clinical research with a 24-year history and extensive experience spanning pharmaceuticals, cannabis, and emerging psychedelic treatments.
Psychedelics could become a $7.5B market in short order. Source: DataBridge
Earlier this month, the Company announced a commercial agreement with Cognetivity to deploy its Integrated Cognitive Assessment (“ICA”) tool across Ketamine One’s North American clinics. The mental health assessment tool enables long-term monitoring of cognitive performance in patients that goes above and beyond the typical pen-and-paper-based tests.
“The ICA technology will help Ketamine One improve and standardize both the initial assessment and the ongoing monitoring of patients with features not available in traditional paper-based surveys,” said Ketamine One Interim CEO Adam Deffett. “This tool will enable us to further demonstrate the power of our therapies.”
In addition to the ICA technology, the company has recently invested in virtual reality technologies designed to deepen immersion, promote relaxation, and help manage stress. For instance, OVR Technology’s wellness platform combines the benefits of mindfulness, breathwork, and meditation with next-generation aromatherapy.
KetamineOne Capital Limited (NEO: MEDI) (OTC: KONEF) (FFT: MY0) is uniquely positioned to capitalize on the psychedelic revolution. In addition to generating near-term revenue, the Company is leveraging the clinics in its research and development ambitions and could emerge from the psychedelics revolution in a leadership role.
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