Novo Integrated Sciences, Inc. (NASDAQ:NVOS) (the “Company” or
“Novo”) announced today it has completed the acquisition of
PRO-DIP, LLC, a U.S.-based company that has developed an
innovative, patent-pending oral pouch delivery system technology
which allows for broad market applications related to nutritionally
focused products and medicinal based formulations. The all-share
transaction is valued at $755,385, or $3.98 per share of the
Company’s common stock.
“The acquisition of PRO-DIP is a strategically important event
complimentary to one of Novo’s growth initiatives to build a health
science related IP portfolio,” said Robert Mattacchione, Novo’s
Chairman and CEO. “We believe adding PRO-DIP’s talented team, led
by Peter St. Lawrence, as well as PRO-DIP’s current and anticipated
future product offerings, provides a foundation to innovate,
evolve, and propel Novo in the healthcare product solution
category.”
Peter St. Lawrence, President of PRO-DIP, stated, "We are proud
to join Novo and very excited to pioneer something completely
original for the marketplace. We couldn't do it without the shared
vision of Novo and its resolute commitment to innovation and
service.”
About Novo Integrated Sciences,
Inc.
Novo Integrated Sciences, Inc. owns Canadian and U.S.
subsidiaries which deliver, or intend to deliver, multidisciplinary
primary health care related services and products through the
integration of medical technology, advanced therapeutics and
rehabilitative science. Our clinicians and practitioners are not
authorized to practice primary care medicine and they are not
medically licensed to prescribe pharmaceutical based product
solutions.
Currently, the Company’s revenue is generated solely through our
Canadian subsidiary, Novo Healthnet Limited (“NHL”). NHL’s team of
multidisciplinary primary health care clinicians and practitioners
provide assessment, diagnosis, treatment, pain management,
rehabilitation, education and primary prevention for a wide array
of orthopedic, musculoskeletal, sports injury, and neurological
conditions across various demographics including pediatric, adult,
and geriatric populations through NHL’s 16 corporate-owned clinics,
a contracted network of affiliate clinics, and eldercare related
long-term care homes, retirement homes, and community-based
locations in Canada.
Our specialized multidisciplinary primary health care services
include, but are not limited to, physiotherapy, chiropractic care,
manual/manipulative therapy, occupational therapy, eldercare,
massage therapy (including pre- and post-partum), acupuncture and
functional dry needling, chiropody, stroke and traumatic brain
injury/neurological rehabilitation, kinesiology, vestibular
therapy, concussion management and baseline testing, trauma
sensitive yoga and meditation for concussion-acquired brain injury
and occupational stress-PTSD, women’s pelvic health programs,
sports medicine therapy, assistive devices, dietitian, holistic
nutrition, fall prevention education, sports team conditioning
programs including event and game coverage, and private personal
training.
We believe that “decentralizing” healthcare, through the
integration of medical technology and interconnectivity offers an
essential solution to the fundamental transformation of healthcare
delivery. Specific to non-critical care, ongoing advancements in
both medical technology and inter-connectivity are allowing for a
shift of the patient/practitioner relationship to the patient’s
home and away from on-site visits to primary medical centers with
mass-services. This acceleration of “ease-of-access” in the
patient/practitioner interaction for non-critical care diagnosis
and subsequent treatment minimizes the degradation of non-critical
health conditions to critical conditions as well as allowing for
more cost-effective healthcare distribution.
For more information concerning Novo Integrated Sciences, please
visit www.novointegrated.com. For more information on NHL, please
visit www.novohealthnet.com.
About PRO-DIP, LLC
PRO-DIP, LLC., a wholly owned subsidiary of Novo Integrated
Sciences, Inc., has developed an innovative, patent-pending oral
pouch delivery system technology which allows for broad market
applications related to nutritionally focused products and
medicinal based formulations. PRO-DIP was founded in May 2015 and
is based in San Jose, California.
PRO-DIP has developed a proprietary, patent-pending ION Energy
oral pouch that delivers flavorful bursts of vitamins and natural
energy supplements through small, semi-permeable sachets placed in
the mouth, between the gum and cheek or lip. The initial burst of
supplements is followed by extended absorption of the nutrients,
providing long-lasting energy, even at high-exertion levels. With
its hand-free ease of consumption, the energy-rich pouches are an
alternative to traditional sports supplements and deliver a daily
serving of natural vitamins and nutrients for the endurance and
stamina required during exercise and sports. The invention of the
pouch delivery system for nutraceuticals continues to gain
mainstream interest from health product manufacturers, medical
organizations, big pharma, the military, space organizations,
CBD/hemp companies, humanitarian aid groups and the list goes
on.
PRO-DIP is quickly building an impressive distribution chain,
including ADS, Inc., a leading value-added logistics and supply
chain solutions provider that proudly serves all branches of the
U.S. Military, federal, state and local government organizations,
law enforcement agencies, first responders, partner nations and the
defense industry.
For more information, please visit www.prodip.pro and
www.pouchworks.net.
Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements other than statements of historical facts
included in this press release are forward-looking statements. In
some cases, forward-looking statements can be identified by words
such as "believe," “intend,” "expect," "anticipate," "plan,"
"potential," "continue" or similar expressions. Such
forward-looking statements include risks and uncertainties, and
there are important factors that could cause actual results to
differ materially from those expressed or implied by such
forward-looking statements. These factors, risks and uncertainties
are discussed in Novo’s filings with the Securities and Exchange
Commission. Investors should not place any undue reliance on
forward-looking statements since they involve known and unknown,
uncertainties and other factors which are, in some cases, beyond
Novo’s control which could, and likely will, materially affect
actual results, levels of activity, performance or achievements.
Any forward-looking statement reflects Novo’s current views with
respect to future events and is subject to these and other risks,
uncertainties and assumptions relating to operations, results of
operations, growth strategy and liquidity. Novo assumes no
obligation to publicly update or revise these forward-looking
statements for any reason, or to update the reasons actual results
could differ materially from those anticipated in these
forward-looking statements, even if new information becomes
available in the future. The contents of any website referenced in
this press release are not incorporated by reference herein.
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version on businesswire.com: https://www.businesswire.com/news/home/20210526005267/en/
Chris David, President Novo Integrated Sciences, Inc.
chris.david@novointegrated.com (206) 617-9797
Novo Integrated Sciences (NASDAQ:NVOS)
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