Novo Integrated Sciences, Inc. (NASDAQ:NVOS) (the “Company”) is
pleased to announce the signing of a Share Exchange Agreement,
dated May 28, 2021 (the “SEA”), pursuant to which Novo Healthnet
Limited, a wholly owned subsidiary of the Company (“NHL”) will
acquire Acenzia Inc., which is in the business of providing
nutraceutical health solutions through advanced bio-science
research and development, proprietary manufacturing, and
personalized diagnostics. In addition, Acenzia has developed a
multiple international jurisdiction patented technology platform,
using zebra fish, which enables rapid analysis of cancer cells,
offering cancer patients and their healthcare providers prediction
of early metastasis and drug sensitivity thereby providing
important information for diagnosis and treatment.
The all-share transaction is valued at $14,884,039 subject to
adjustment as provided for in the SEA. Upon closing the share
exchange, Acenzia will be a wholly owned subsidiary of NHL and the
Acenzia shareholders will receive NHL non-voting exchangeable
preferred shares issued solely for the purpose to exchange for
allotted restricted shares of the Company’s common stock at a per
share price of $3.91.
Robert Mattacchione, the Company’s CEO and Board Chairman,
stated, “There are three primary pillars in support of Novo’s
business model centered on decentralized healthcare. The first
pillar is building a foundation of traditional hands-on healthcare
delivery, through small and micro footprint sized clinic
facilities, within a significant service delivery network. The
second pillar is the development, integration, and deployment of
sophisticated technology, through interconnectivity, which expands
the reach of healthcare related service, beyond the traditional
clinic location, to geographic areas not readily providing advanced
healthcare service to date, including the patient’s home. The
signing of the Acenzia SEA brings Novo imminently closer to
solidifying control of the third pillar, which is the development
and distribution of effective wellness product solutions allowing
for the customization of patient preventative care remedies and
ultimately a healthier population. Additionally, Acenzia’s science
first approach to product innovation further emphasizes Novo’s
mandate to create and provide over-the-counter preventative and
maintenance care solutions. Innovation in science as represented by
the proprietary technology possessed by Acenzia assures Novo of
continued cutting edge advancement in patient first platforms.”
Acenzia’s 36,000 square foot facility is located in Windsor
Ontario Canada and includes Class 100 pharmaceutical grade
cleanrooms and certified laboratories from which Acenzia creates
and manufactures evidenced-based dietary, nutraceutical, and food
products that can be validated through personalized
diagnostics.
Acenzia is licensed by multiple international government
agencies including Health Canada, the U.S. FDA and the European
Union for Good Manufacturing Practices (GMP) for over-the-counter
and dietary supplement manufacturing. In addition, Acenzia
maintains multiple third-party licenses including from the National
Sanitation Foundation International (NSF) for meeting the required
public health standards for manufacturing food, nutrition, and
supplements.
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.
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/20210603005392/en/
Chris David, President Novo Integrated Sciences, Inc.
chris.david@novointegrated.com (206) 617-9797
Novo Integrated Sciences (NASDAQ:NVOS)
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