Levitee Labs Acquires Five Addiction Clinics in Alberta
July 29th, 2021
- Levitee acquires the majority of the operating assets of ACT Medical Centres Inc.
- Five acquired addiction clinics have conducted 35,000+ patient visits over last 12 months
- Clinics will be integrated with Levitee’s growing portfolio of healthcare assets
VANCOUVER, BC, July 29, 2021 /CNW/ – Levitee Labs Inc. (CSE: LVT) (the “Company” or “Levitee”), an integrative wellness company with a diversified portfolio of healthcare and wellness assets, today announces the completion of the acquisition of the majority of the operating assets of ACT Medical Centres Inc. (“ACT Medical”) as of July 28, 2021. These assets include 5 addiction treatment clinics across the province of Alberta that have conducted over 35,000 patient visits during the past 12 months.
ACT Medical is a community-based organization providing in-depth assessment, customized treatment and counselling to patients suffering from opioid use disorder, chronic pain, and mental health conditions. Each clinic employs a highly educated and specialized team of dedicated physicians, nurses and therapists working in unison with patients to ensure treatment goals are achieved. ACT Medical’s clinics are located throughout the province of Alberta, including Calgary, Medicine Hat, Red Deer, Grande Prairie and Lethbridge.
In consideration for the acquisition, Levitee paid $350,000 in cash on the closing date.
Pouya Farmand, CEO of Levitee, states: “We are thrilled to have acquired these five addiction clinics, which directly interface with patients that need alternative medicines and therapies the most. Unfortunately, substance abuse and addiction in Canada is far too prevalent, and current service options do very little to improve the health and wellness of these patients. With innovation and our patient-centric approach, we expect to make a meaningful impact and improve services to the Alberta communities where these clinics are located.”
“These assets give us a great start in building our platform for addiction treatment services, with over 20,000 individual patient records and a name brand in the Alberta market,” added Ken Osborne, Head of M&A at Levitee. “We are currently evaluating additional accretive opportunities to grow our footprint across Canada.”
Levitee intends to integrate these clinics with its current assets in mental health and addiction treatment, as well as assets that are acquired by Levitee in the future.
“Over the past 5 years, ACT Medical has become a leader for the provision of evidence-based treatment programs for people suffering from addictions and chronic pain in Alberta”, said Carrie Wylie, Executive Director, ACT Medical. “We are delighted to join the Levitee team on its journey to become a leader in the area of mental health and wellness nationally.”
Levitee is also pleased to announce the acquisition of a 5,400 square foot building in Grande Prairie, Alberta. In the future, Levitee intends to use the building to host business operations that are complementary to the Company’s mental health and addiction services which are also currently operating in the building.
About ACT Medical Centres Inc.
ACT Medical provides a bridge to recovery. In the continuum of care, it plays a significant role in preparing individuals for recovery. ACT Medical is a community-based organization focused on treating people with opioid use disorder, chronic pain, and mental health issues. ACT Medical has established Care Teams at each of its locations to serve patients. The Care Teams are comprised of a medical director, physicians, nurses, and medical office assistants (MOA’s). They provide specialized treatment services as well as provide patients access to recovery programs/beds; access to AISH programs; access to case workers; access to other social supports such as housing support, food services, and dental care, and more. Recovery is the focus of ACT Medical’s policies and practices.
About Levitee Labs
Levitee Labs is establishing itself as a leader in the integrative wellness space. Through leveraging an M&A regimen that focuses on the centralization of complementary integrative wellness assets, Levitee Labs aims to transform mental health and addiction treatments through the integration of psychedelic medicines and therapies.
Further information about the Company is available on its website at www.leviteelabs.com.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
Follow Us on Social Media
About CFN Media Group
CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.
Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.