Delic 2021 Revenue Shows Strong Growth as Nation's Largest Ketamine Clinic Chain, Continues Expansion of Mental Health Wellness Services
Ketamine Wellness Centers (KWC) Approaches 100,000 Treatments, Expands FDA-Approved SPRAVATO® to Minneapolis, Salt Lake City, Dallas with More Locations Soon
KWC, Serving the Most Patients in the U.S., Adds NAD+ Therapy and Launches Ketamine Wellness Integrated Therapist Directory
VANCOUVER, BC, July 21, 2022 /CNW/ - Delic Holdings Corp ("DELIC" or the "Company") (CSE: DELC) (OTCQB: DELCF) (FRA: 6X0), a leader in new medicines and treatments for a modern world, is pleased to share the following corporate update:
- Delic Corp released its first annual end-of-year earnings report in May. In 2021 the Company generated more than USD$1.5MM in revenue and increased net assets to USD$10MM in 2021 from USD$2.1MM in 2020, a 500% YoY improvement.
- Ketamine Wellness Centers (KWC) currently has 13 operational, state-of-the-art clinics that accept insurance and they are approaching 100,000 treatments to clinically eligible patients.
- On April 1, KWC officially began offering SPRAVATO®, the FDA-approved esketamine nasal spray covered by some insurance, at its Houston, Las Vegas and Seattle locations and quickly expanded to include the Minneapolis, Salt Lake City and Dallas clinics with more on the way.
- KWC introduced NAD+ infusion therapy at six of its clinic locations—Jacksonville, Houston, Salt Lake City, Dallas, Las Vegas and Tucson—with plans to expand nationwide.
- KWC announced a new partnership with the Veterans Administration (VA) in Arizona. This new VA partnership is in addition to the VA partnership established with the KWC located in Burnsville, Minnesota.
- KWC launched the Ketamine Wellness Integrative Therapist Directory, connecting KWC patients with qualified mental health practitioners.
Delic announced its first annual earnings for 2021 and reported revenue in excess of USD$1.5MM and increased net assets from USD$2.1MM in 2020 to USD$10MM. Delic continues to focus on accelerating growth through the expansion of its national chain of Ketamine Wellness Centers (KWC) and the addition of numerous new programs and services.
KWC is on track to reach 100,000 treatments to clinically eligible patients and began servicing more patients than any other ketamine provider with SPRAVATO® at the Houston, Las Vegas and Seattle locations on April 1. The FDA-approved esketamine nasal spray is covered by some insurance carriers and patients can work with the experienced insurance team at KWC to assist them in determining their coverage and potential out-of-pocket costs for the treatment. KWC Minneapolis, Salt Lake City and Dallas became the latest locations to offer the treatment to their patient base.
KWC also introduced NAD+ therapy as a treatment option. The therapy is administered intravenously or intramuscularly (IM) and has the potential to boost natural energy stores and immunity, brain and DNA function, and cell communication when a patient is successfully treated, along with enhancing the process of healing chronic conditions such as depression, PTSD and anxiety.
Building on their initial partnership with the Veterans Administration (VA) at the clinic located in Burnsville, MN, KWC secured a new partnership with the VA to support veterans suffering from treatment-resistant depression, PTSD and anxiety in Arizona. Veterans in search of mental health treatment now have access to ketamine therapy at the Phoenix, Tucson and Mesa-Gilbert locations at no out-of-pocket cost with prior authorization from the VA. Lastly, KWC launched the Ketamine Wellness Integrative Therapist Directory, a comprehensive resource connecting KWC patients with qualified mental health practitioners who can help them process and integrate the benefits of ketamine therapy into their everyday life. The Directory is available to anyone visiting the KWC website.
Matt Stang, Co-founder and CEO of Delic, commented: "I'm very excited to say Delic Corp is thriving and continuing to grow as evidenced by the revenue we generated in our first full year of operation. We have a strong team across all the businesses and I'm proud of the work we have done so far to make these life-changing therapies more affordable and accessible, while also working to change the perception of psychedelics and mental health. However, there are still too many people suffering with mental health conditions who are not aware of the help available to them right now. We will continue to find solutions to these challenges and make sure the treatments are more affordable and everyone who needs these therapies has access to them."
Delic is a leader in new medicines and treatments for a modern world, improving access to health benefits across the country and reframing the conversation on psychedelics. The Company owns and operates an umbrella of related businesses, including the largest chain of psychedelic wellness clinics in the country, Ketamine Wellness Centers; the only licensed entity by Health Canada to exclusively focus on research and development of psilocybin vaporization technology, Delic Labs; the premier psychedelic wellness event, Meet Delic; and trusted media and e-commerce platforms Reality Sandwich and Delic Radio. Delic is backed by a team of industry and cannabis veterans and a diverse network, whose mission is to provide education, research, high-quality products, and effective treatment options to the masses.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and does not accept responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Delic's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein may include, but are not limited to: anticipated continued growth in the health and wellness sector (and, in particular, related to psychedelics); the ability of Delic to successfully achieve business objectives, including approaching 100,000 treatments to clinically eligible patients, offering SPRAVATO® at more locations and expanding NAD+ infusion therapy nationwide, and expectations for other economic, business, and/or competitive factors.
By identifying such information and statements in this manner, Delic is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Delic to be materially different from those expressed or implied by such information and statements. Such risks and other factors may include, but are not limited to: direct and indirect material adverse effects from the COVID-19 pandemic; inability to obtain future financing on suitable terms; failure to obtain required regulatory and other approvals; risks inherent in the psychedelic treatment sector; changes in applicable laws and regulations; and failure to comply with applicable laws and regulations.
In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, Delic has made certain assumptions. These assumptions include, but are not limited to: changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation.
Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
Although Delic believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and Delic does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward- looking information and statements attributable to Delic or persons acting on its behalf is expressly qualified in its entirety by this notice.
SOURCE Delic Holdings Inc.
Investor Relations Contact: Rich Rodriguez, [email protected]; Media Contact: MATTIO Communications, Clare Redlick, [email protected]
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