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Thursday, Aug 11, 2022
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Psychedelics

Delic Holdings highlights financial success and continues expanding KWC

Canadian company continues to develop its presence in the clinical psychedelic sector

Delic Holdings highlights financial success and continues expanding KWC
Photo via Delic Corp

Headquartered in Vancouver, Delic Holdings Corp. (CSE: DELC) (OTCQB: DELCF) (FRA: 6X0) has had a variety of noteworthy accomplishments over the past two years. The company continues to succeed financially and cement its status as a trailblazer in the psychedelic therapeutics industry.

On Thursday, Delic provided a corporate update regarding its most recent notable developments.

A new partnership with the United States Department of Veterans Affairs (VA) in Arizona is one interesting example.

Read more: Psychedelic therapeutics market to have steady growth: InsightAce

Read more: MAPS now providing digital psychedelic education

Delic describes itself as a leader in novel medicines and treatments that is reframing the dialogue on psychedelics and improving access to therapies needed by many. The organization runs a chain of Ketamine Wellness Centres (KWC) across the United States, the largest series of psychedelic treatment facilities in the country. The company’s Delic Labs facility in Vancouver is the only designated entity licensed by Health Canada to study and develop psilocybin vaporization technology.

The end-of-year earnings report for the company last year released this May showed that Delic had generated over US$1.5 million in revenue throughout 2021. The report also revealed that the organization had increased its net assets to US$10 million, up exponentially from US$2.1 million in 2020.

Delic Corp continues to develop its market stature through the expansion of its KWC and the implementation of various new services and programs.

The KWC owned by Delic have allegedly administered nearly 100,000 treatments to patients with approved prescriptions enabling them to receive it. The company claims to have started providing therapy sessions to more subjects with the FDA-approved SPRAVATO esketamine nasal spray than any other ketamine provider via its Seattle, Houston and Las Vegas locations commencing April 1 this year.

The KWC in Dallas, Minneapolis and Salt Lake City are the most recent new providers of the therapy.

KWC in the U.S. have also began offering NAD+ therapy in their arsenal of treatments, a type of intravenously or intramuscularly administered therapy that stimulates cell regeneration and communication. NAD + also has the potential to boost brain function and enhance natural energy stores and immunity. It is said to be effective at combatting depression and post-traumatic stress disorder (PTSD), according to Delic.

Delic’s KWC recently secured a new partnership agreement with the VA in Arizona to help aid veterans who suffer from mental health afflictions such as PTSD, treatment-resistant depression and anxiety. Vets who desire treatment for their mental health ailments will now have priority access to ketamine therapies via the Mesa-Gilbert, Phoenix and Tucson centres with no associated charges after receiving VA approval.

A VA partnership with the Ketamine Wellness Centre in Burnsville, Minnesota had been previously established already.

“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,” said Matt Stang, CEO and Co-Founder of Delic.

Lastly, the KWC introduced the Ketamine Wellness Integrative Therapist Directory — an all-encompassing resource designed to connect patients with credible mental health professionals who can assist them with the integration process post-ketamine therapy to help improve their daily lives.

 

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