A Vancouver-based company passionate about mental health and psychedelic-assisted therapy has happily taken the reins to expand an innovative program rooted in the United States.
On Thursday, Numinus Wellness Inc. (TSX: NUMI) (OTCQX: NUMIF) revealed that it would be launching a Utah-based pilot program dedicated to helping employers enhance their employees’ mental well-being. Ketamine-assisted psychotherapy (KAP) as a designated health benefit for qualified workers will be the primary focus of the initiative.
Have you heard the news? In our ongoing quest for #mentalhealth equity and innovation, we're launching a Utah-based pilot program that helps businesses offer #ketamineassistedpsychotherapy as a health benefit for eligible employees. Learn more: https://t.co/OrumfF4Uwn pic.twitter.com/YVTckVmt6Q
— Numinus (@NuminusWellness) June 23, 2022
Numinus recently completed an acquisition of Novamind Inc. (CSE: NM) (OTCQB: NVMDF) (FSE: HN2), a now concluded process unveiled by the companies in April. Novamind previously owned eight clinics in Utah functioning under the franchise name – Cedar Psychiatry.
Prior to the acquisition by Numinus, Cedar Psychiatry had been piloting KAP since 2019 with HempLucid, a local CBD producer and holistic health guru. The goal for both groups in the years prior to Numinus taking over Cedar was to ensure that all Utah company employees who were diagnosed with mental illnesses had access to the treatment they needed. Through this arrangement, HempLucid would cover the costs of ketamine infusions while capitalizing on its healthcare insurance plan to assist with the therapy elements of KAP.
HempLucid continues to be happily engaged with Numinus for the promotion of KAP and other treatments.
“Offering ketamine treatments to our employees has shown incredible benefits for healing, positivity, and productivity in the work environment. We are in a new era,” said Chase Hudson, Founder and CEO of HempLucid.
According to Numinus, mental illness in workers is one of the most expensive costs for employers, accounting for 70 per cent of workplace disability fees. For these reasons, the company states that mental health has become a top priority for business directors and that corporate KAP is an excellent new way for employers to reduce absenteeism, improve productivity and diminish disability costs through a greater focus on employee mental health.
Now that Numinus has become eagerly involved with this therapy niche it plans to research ways that corporate KAP services can be utilized in its 13 clinics spread across North America.
Cedar Psychiatry clinics not only offer KAP to patients but also provide an assortment of other mental health services including talk therapy and transcranial-magnetic stimulation (TMS).
“It’s more important than ever to take care of our individual and collective mental health. This pilot expands access to ketamine-assisted psychotherapy in the interest of not only helping individuals and families, but also a global workforce that continues to report increases in stress and burnout. It is truly inspiring to see a company like HempLucid take care of employees in this way,” said Dr. Reid Robison, Chief Clinical Officer at Numinus.