Novo Integrated Sciences, Inc. (NASDAQ:NVOS) (the “Company” or
“Novo”) announced today Novo Healthnet Limited, a wholly owned
subsidiary of the Company (“NHL”), completed the acquisition of
Acenzia Inc., a Windsor Canada based company that provides
nutraceutical health solutions through advanced bio-science
research and development, proprietary manufacturing, and
personalized diagnostics. The all-share transaction, which closed
on June 24, 2021, is valued at $14,884,039, or $3.91 per share, and
is subject to purchase price adjustment within 90 days of the
closing date pending completion of an audit and working capital
requirement provisions.
Robert Mattacchione, Novo’s Chairman and CEO, stated, “Through
the integration of medical technology and interconnectivity, the
healthcare sector is in the early stages of adopting a
decentralization model in how non-critical care diagnosis,
treatment, and wellness related services and products are being
delivered to patients and consumers. The acquisition of Acenzia is
an important and critical milestone supporting the third pillar of
Novo’s decentralized healthcare business model which is to have
direct control of the development, manufacturing, and distribution
of effective therapeutic and wellness product solutions for both
Novo’s network of patients and the general population. We are
excited to work with Acenzia’s exceptional leadership team
including Grant Bourdeau who is continuing as Acenzia’s President
and Indrajit “Indra” Sinha Ph.D. who assumes the roles and
responsibilities as the Company’s Chief Science Officer (CSO) to
include focusing on the continued development of Acenzia’s
proprietary oncology research technology, as well as several other
Novo proprietary product and science assets. Grant and Indra’s
proven track records in both manufacturing and science-based
innovation strengthens Novo’s leadership and assures continued
cutting edge advancement in patient first platforms and overall
growth.”
Grant Bourdeau and Idrajit Sinha Ph.D., co-founders of Acenzia,
stated, “We are very proud to join the Novo family and contribute
to our likeminded strategic vision to innovate, evolve, and deliver
therapeutics and personalized diagnostics that enable
individualized health optimization. Acenzia has been engaged in
important science-based innovation and we are excited to play a
meaningful role in Novo’s growth.”
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.
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.
Novo’s decentralized healthcare business model is centered on
three primary pillars to best support the transformation of
non-catastrophic healthcare delivery to patients and consumers. 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 third
pillar 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, Novo’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
assures Novo of continued cutting edge advancement in patient first
platforms.
For more information concerning Novo Integrated Sciences, please
visit www.novointegrated.com. For more information on NHL, please
visit www.novohealthnet.com.
About Acenzia Inc.
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 dedicated to the creation of innovative therapeutics and
diagnostics that enables individualized health optimization.
Acenzia, founded in 2015, 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.
For more information, please visit www.acenzia.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/20210629005223/en/
Chris David, COO-President Novo Integrated Sciences, Inc.
chris.david@novointegrated.com (206) 617-9797
Novo Integrated Sciences (NASDAQ:NVOS)
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