Pathway Health To Acquire IRP Health From Wellbeing Digital Sciences

Wellbeing Digital Sciences Inc. KONEF MEDI SQ, has entered into a definitive agreement under which Pathway Health Corp. will acquire all or substantially all of the operating assets of Wellbeing’s subsidiary IRP Health Ltd.

Under the transaction, Pathway would acquire all of intellectual property, billing numbers, intangible assets and certain equipment associated with IRP’s multidisciplinary pain management and physical therapy programs that cater to military veterans, RCMP and first responders. Pathway will assume the lease and all of the assets in the Victoria, British Columbia location, including all intangible assets, prepaid expenses, deposits, and equipment.

"This agreement generates additional value for Wellbeing shareholders and allows Wellbeing to focus on expanding our clinical network footprint to treat mental health indications with novel medicines in conjunction with digital therapeutics. After consideration of multiple deal structures, including a range of potential buyers, we are confident that our announced transaction with Pathway maximizes value for our shareholders and positions the business and our employees for long-term success," stated Najla Guthrie, CEO of Wellbeing.

About Pathway Health Group

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Pathway is an integrated healthcare company that provides products and services to patients suffering from chronic pain and related conditions. Pathway owns and operates eleven community-based clinics across four provinces where its team of health professionals work together to help patients through a variety of evidence-based approaches and products, including medical cannabis. Pathway is also a provider of medical cannabis services in Canada and has established itself as partner with national and regional pharmacy companies for the delivery of medical cannabis services to their customers. Pathway is working with several pharmacy companies on the development of Cannabis Health Products for OTC product distribution through retail pharmacy locations across the country following anticipated changes to the Cannabis Act.

Photo: Benzinga; Sources: courtesy of geralt, sergeitokmakov via Pixabay

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