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Wednesday, Dec 6, 2023
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Medical and Pharmaceutical

Pathway Health, The Newly Institute and HEAL Global Holdings combine into one health and wellness firm

The company will provide services around mental health, return-to-work rehabilitation, addiction treatment, medically assisted psychotherapy and interventional pain management

Pathway Health, The Newly Institute and HEAL Global Holdings combine into health and wellness firm
Photo via Pathway Health.

Pathway Health Corp. (TSXV: PHC) (Frankfurt: KL1), The Newly Institute Inc. and HEAL Global Holdings Corp. have combined forces into a health and wellness firm that will offer interdisciplinary, intensive out-patient programs.

On Friday, Pathway announced the closing of the agreement which was originally announced in late March and covers the acquisition, recapitalization and debt restructuring of the deal.

The combined company will be named HEAL Canada and it is a merger between two healthcare specialists in chronic pain and mental health management, Pathway and Newly.

The company will focus on providing medically managed intensive outpatient programs to Canadians living with mental illness and/or chronic pain. These programs will include mental health, return-to-work rehabilitation, addiction treatment, medically assisted psychotherapy, and interventional pain management.

HEAL Canada believes that it is well-positioned to address the growing $700 billion global market opportunity in mental health, chronic pain, and wellness. The company will partner with key stakeholders to deliver clinically validated programs and products to at-risk patients at its 14 owned and two affiliate healthcare clinics across the country. The company also plans to expand its reach through the addition of greenfield sites and affiliate clinic partnerships, as well as opportunistic acquisitions.

HEAL Canada’s strategy is based on fusing bio-psycho-social treatment models with medically assisted therapies. The company’s interdisciplinary approach to in-clinic services involves specialized practitioners who work synergistically to provide individualized evidence-based suites of treatments, programs, and products to promote patients’ well-being.

Overall, HEAL Canada aims to provide a holistic suite of programs that cater to patients’ physical, mental, and emotional needs.

Read more: Pathway launches its medical cannabis system at Sunshine Drugs in Ontario

Read more: Sobeys pharmacists receiving medical cannabis education through Pathway partnership

HEAL Canada will be divided into two business units

HEAL Canada will have two business units: The Newly Clinic Division, which will offer integrated interdisciplinary treatments for mental health, addiction, and chronic pain, and the TCN Medical Cannabis Division, which will focus on medical cannabis clinical services and potentially expand into the cannabis health product market.

The Newly Clinic Division will leverage telehealth and digital-based tools for treatments, support patients, and maintain patient engagement. The TCN Medical Cannabis Division will consolidate sales to a limited number of SKUs and product lines, and potentially develop control brands with pharmacy partners. The division has applied for a medical cannabis license for the federal sale of cannabis products for medical purposes.

HEAL Canada anticipates aggressively expanding The Newly Institute’s clinical presence, opening 3-5 additional clinics, and introducing new products and services to patients. TCN aims to expand its pharmacy relationships to co-develop programs to better serve its clients’ needs for health and wellness. HEAL Canada believes TCN will benefit from the potentially greater than $2.0B CHP market opportunity, given its leading position with pharmacies.

HEAL Canada plans to raise at least $10 million through a private financing deal to support its integration, operations, and growth. This financing will be completed at the same time as the merger between Pathway and Newly to form HEAL Canada.

The company may use equity, debt or convertible debt private placement financings to raise this money. The terms of the financing are subject to the approval of Newly, Pathway, and HEAL. This financing will also include a non-brokered private placement for Pathway Shares, with a target of at least $500,000, to be subscribed for by Pathway management, associates and related parties.

“We are pleased to introduce HEAL Canada as the foundational platform on which Global Healthcare Holdings’ broader strategy will be built,” HEAL Global CEO Michael Steele said.

“We believe HEAL Canada will bring an innovative comprehensive approach to health and wellness through its interdisciplinary intensive out-patient programs. As a combined business, we believe HEAL Canada is exceptionally well positioned to meet the growing demand for individualized holistic medical services and products which are backed by science.”



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