Irwin Naturals Inc. IWINF IWIN FRA: 97 X completed the acquisition of the assets of Clare Clinic, Inc. d a Florida Mind Health Center.
The company entered an acquisition agreement with Clare Clinic, Inc. dated October 30, 2022, and serves clients from three healthcare clinics in Gainesville, Tallahassee and Panama City, Florida.
Klee Irwin, CEO of Irwin Naturals, said Our roll-up is quickly gathering momentum. This is the eighth ketamine clinic we are adding to our growing portfolio in Florida and is part of our 17 clinics that we have either acquired or have a definitive agreement to acquire in the near future, in over ten states. Our mission is to make this treatment available and accessible throughout the country and beyond. We focus on acquiring profitable operations as we add to our bottom line through these highly accretive transactions. The cost-benefits that come from economies of scale will be created by building a national chain. The incorporation of Irwin Naturals best practices over time will help drive down operating costs, savings that can be passed on to customers by providing sliding-scale discounts.
As consideration for the asset purchase, Irwin Naturals will give sellers cash payments as well as 1.5 million subordinate voting shares upon closing. The transaction includes an additional contingent consideration based on future milestones related to operational and profitability targets to be met in shares.
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