- SHRM announces recent acquisition of California-based Ketamine Wellness Clinic of Orange County Inc.
- CEO calls acquisition major milestone as company accelerates vision of establishing sizable footprint of integrated ketamine clinics
- Center is recognized leader in ketamine infusion therapy, research and complementary treatment protocols
With the announcement of its recent acquisition of the Ketamine Wellness Clinic of Orange County Inc., Champignon Brands Inc. (CSE: SHRM) (OTC: SHRMF) (FWB: 496) is taking steps to expand into the United States (http://cnw.fm/Co2aK). The wellness clinic owns and operates a state-of-the-art ketamine infusion treatment center located within the Mission Hospital’s Laguna Beach campus.
“We are thrilled to begin executing on our North American expansion strategy by acquiring our first U.S.-based, revenue-generating ketamine center, the Wellness Clinic of Orange County,” SHRM CEO Dr. Roger McIntyre stated in a news release. “This acquisition represents a major milestone as we begin to accelerate our vision of establishing significant scale and a sizable footprint of integrated ketamine centric clinics committed to providing innovative care and therapeutic options to improve the quality of life of patients suffering from chronic disease states that have failed conventional treatments.”
A Canada-based company dedicated to applying novel and natural treatment protocols with an emphasis on psychedelic medicine, Champignon outlined the acquisition in a term sheet completed with the wellness clinic, a cutting-edge facility that has become a recognized leader in ketamine infusion therapy and is actively involved in research and complementary treatment protocols. Based on impressive peer-reviewed studies and equally attention-grabbing clinical trials, intravenous ketamine has gained prominence as a promising treatment option for many chronic diseases, including depression, anxiety, post-traumatic stress disorder, fibromyalgia and certain pain disorders.
“This is an exceptional opportunity to both collaborate and scale with Dr. McIntyre and the world-class team at Champignon, with the objective of remaining at the forefront of innovation in this burgeoning field,” added Dr. Michael Bronson of the Ketamine Wellness Clinic of Orange County. “We are excited for our patients, both current and future, as we work to provide them with the therapeutic options that they deserve.”
As outlined in the term sheet, Champignon is set to acquire 100% of the clinic and all subsidiary companies of the wellness clinic in exchange for a combination of payments and common shares spread over an 18-month period. The completion of the agreement is subject to several conditions, including but not limited to the execution of a definitive agreement and completion of satisfactory due diligence.
Champignon seeks opportunities to promote the health and wellness benefits of functional mushrooms, which are used in a wide variety of health-care and pharmaceutical products. The company’s flagship e-commerce store, VitalitySuperTeas.com, takes advantage of the burgeoning craft mushroom industry with a selection of mushroom-infused teas and accessories; SHRM is also expanding its preclinical trial pipeline and branching out into alternative medicine and pharmaceuticals.
For more information, visit the company’s website at www.ChampignonBrands.com
NOTE TO INVESTORS: The latest news and updates relating to SHRM are available in the company’s newsroom at http://cnw.fm/SHRM
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