IWINF - Irwin Naturals Acquires Kentucky Ketamine Clinic

Irwin Naturals Inc. (CSE: IWIN) (OTC: IWINF) continued its expansion spree with its acquisition of Serenity Health LLC , a ketamine clinic in Louisville, Kentucky.

Total consideration will be paid in upfront and deferred consideration. The deal also includes contingent payments based on milestones related to expansion and profitability goals.

The acquisition marks two key milestones in Irwin’s Emergence clinics growth strategy in the mental health industry. First, the acquisition is expected to be immediately accretive by adding an estimated $3 million in projected EBITDA, increasing the company’s annualized EBITDA by double digits. Second, the addition of this clinic further demonstrates Irwin’s ability to attract profitable clinics as part of its goal to establishing the world’s largest network of psychedelic mental health clinics.

The acquisition of Serenity Health brings the total number of clinics under the Irwin Naturals Emergence umbrella either under a definitive agreement, the Braxia letter of intent , or acquired to 22, including existing clinics in Florida, Vermont, New Hampshire, Iowa, and Georgia.

Irwin announced its intent to acquire Braxia Scientific Corp. (CSE: BRAX) (OTC: BRAXF) last month, though the price tag of that deal is yet to be determined. That move will expand Irwin’s operating footprint in both the U.S. and Canada.