Delic Holdings Inc, a psychedelic wellness platform, has acquired Ketamine Infusion Centers LLC (“KIC”) as it looks to expand.
The company, a limited liability corporation formed under the laws of Arizona, owns and operates two ketamine infusion treatment clinics, one in Phoenix, Arizona and the other in Bakersfield, California.
The deal, which is structured as a ‘ reverse triangular merger’ shares deal, is worth over $3m.
Supported by clinical trials and peer reviewed studies, ketamine infusions have ’emerged as a promising treatment option for chronic diseases and pain disorders’, the company said in a statement announcing the deal.
The move will see the company ‘expand from its hub of psychedelic education, media, and information properties and licensed lab and IP company (CBDV) to the ability to provide patients with psychedelic therapy’.
Over the last 3 years, the team at KIC has expanded from Arizona to California, while overseeing 4,000 treatments delivered to date, and generating over $1.5m in revenue, a statement read.
KIC will ‘operate under the DELIC umbrella, under the direction and guidance of Dr. Christopher Ray, Sonny Diaz, Rogelio Monzon, and Ganesh Acharya’
Matt Stang, founder and CEO of DELIC, said: “We publicly listed DELIC with the intent of buying cash-flowing, scalable companies and that is exactly what KIC represents.
“We are focused on making psychedelic wellness truly accessible, and this is a huge development in the realisation of that vision.”
Sonny Diaz, co-founder of KIC, said: “We were thrilled to be joining the DELIC platform as we feel their patient acquisition strategy – using DELIC’s media platform to drive patients – is a game changer for scaling our clinics and expanding patient access.
“With a history of profitability and a management team with decades of experience in the health sector and successful exits of over two dozen clinics and hospitals, KIC’s extensive background in operating clinics and hospitals will enable DELIC to be the leader in legal psychedelic treatment clinics.”
