Expanding Reach in Rapidly Growing Ketamine Therapy Market
LOS ANGELES, March 21, 2023 (GLOBE NEWSWIRE) — Irwin Naturals Inc. (CSE: IWIN) (OTC: IWINF) (FRA: 97X) (“Irwin” or the “Company”) is thrilled to announce the successful acquisition of Keta Media, LLC, dba Ketamine Media (“Ketamine Media”) as of March 17, 2023. Ketamine Media is the nation’s foremost advertising company dedicated to raising awareness about the clinical use of ketamine. The agreement with Ketamine Media was initially announced on September 29, 2022.
The acquisition, which was completed on March 17, 2023, represents two significant milestones in Irwin’s growth strategy for its Emergence clinics in the mental health industry. Firstly, the acquisition is anticipated to have a positive impact on the company’s annualized EBITDA. Secondly, the addition of this premier marketing agency showcases Irwin’s capacity to attract top-tier talent as it aims to establish the world’s largest network of psychedelic mental health clinics.
This acquisition empowers Irwin Naturals to broaden its presence in the burgeoning ketamine therapy market and offer a diverse array of innovative marketing solutions to support the company’s products and services. Through this acquisition, Irwin plans to expedite the establishment of new potential clinic locations and harness Ketamine Media’s expertise to enhance utilization rates at its existing and future Emergence clinics.
Klee Irwin, founder and CEO of Irwin Naturals, expressed his enthusiasm, stating, “We are delighted to welcome the Ketamine Media team to the Irwin Naturals family. We believe that acquiring Ketamine Media will propel us to new heights in the ketamine therapy market, as we collaborate to deliver cutting-edge marketing solutions for our clients.”
Chris Walden, CEO of Ketamine Media, added, “We are committed to maintaining the high level of service our clients have come to expect. This deal provides us with growth capital, allowing Ketamine Media to rapidly expand our advisory services, significantly benefiting all our clients. We aim to foster greater collaboration within this emerging sector among local market providers. In our discussions with Irwin Naturals, we discovered shared values and goals, including a mutual commitment to helping our existing clients achieve the outcomes that initially led them to partner with Ketamine Media. We have full confidence in Irwin Naturals’ strategic vision to become a leading international brand of psychedelic mental health clinics.”
The total consideration at closing will be paid in cash, including the assumption of certain debts of Ketamine Media.
