$NVOS Multidisciplinary Nasdaq Listed Healthcare P
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Posted On: 10/11/2021 3:11:03 PM
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NVOS
Multidisciplinary Nasdaq Listed Healthcare Provider Growing via Multiple High Value Acquisitions: Novo Integrated Sciences, Inc. (NASDAQ: NVOS)
ByGetNewsPublishedOctober 4, 2021
Holistic Approach to Patient-First Health and Wellness Care.
LOIs Signed to Acquire Seven Pharmacies in the US Which Collectively Generated Approximately $55 Million Annualized Sales in 2020.
Contemplated All-Stock Transactions Would Establish a Footprint in the US to Leverage Multidisciplinary Healthcare Products and Services.
Exclusive Licensing Agreement with Performance Inspired Nutrition to Manufacture & Distribute in the Middle East.
Novo Integrated Sciences, Inc. (NASDAQ: NVOS) is pioneering a holistic approach to patient-first health and wellness through a multidisciplinary healthcare ecosystem of services and product innovation. NVOS offers an essential and differentiated solution to deliver, or intend to deliver, these services and products through the integration of medical technology, advanced therapeutics, and rehabilitative science.
NVOS believes 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.
The NVOS 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, the NVOS science first approach to product innovation further emphasizes the NVOS mandate to create and provide over-the-counter preventative and maintenance care solutions. Innovation in science as represented by proprietary technology assures NVOS of continued cutting edge advancement in patient first platforms.
NVOS Signs LOIs to Acquire Seven Pharmacies in the United States
On August 30th NVOS announced the signing of non-binding Letters of Intent (“LOI”) to acquire seven pharmacies in the United States. The proposed all-stock transactions contemplate the acquisition, by NVOS, of a 50% interest in each pharmacy. NVOS expects to negotiate and enter into definitive agreements and to close the acquisitions during the second half of 2021.
Robert Mattacchione, NVOS Chairman and CEO, stated, “This acquisition of seven pharmacies, which collectively generated approximately $55 million in annualized revenue in 2020, would establish our footprint in the U.S. with locations in Florida, Virginia, and Arizona. We believe that the daily patient interaction will allow us to leverage our telehealth platform, mobile application (NovoConnect), on-site diagnostic capabilities such as Zgraft, and customized nutrition and wellness product offerings, establishing Novo as a vertically integrated, multidisciplinary health care provider. As part of the proposed all-stock transactions, current management would remain in place to continue operating the pharmacies day-to-day, with a more unique Novo patient product and service offering at each of their locations.”
Exclusive Licensing Agreement with Performance Inspired Nutrition to Manufacture & Distribute in the Middle East
On August 18th NVOS announced that its subsidiary, Acenzia Inc. signed an exclusive 10-year licensing agreement with Performance Inspired Nutrition (“PI Nutrition”) to manufacture and distribute nutritional products, natural supplements, proteins, vitamins and other PI Nutrition branded health and wellness products in the Middle East.
Co-Founded by multiple-time Oscar-award nominee, Mark Wahlberg, and proven industry executive, Tom Dowd, PI Nutrition was created to help inspire people to live a more active and healthier lifestyle by offering honest, all-natural, and trustworthy products. PI Nutrition has held the highest standards and quality control of its manufacturing to ensure the best and safest products for its loyal consumer base. PI Nutrition has more than 58 health and wellness nutritional products that cater to the everyday active lifestyle consumer, as well as many professional athletes. Investors in PI Nutrition include NBA star Draymond Green and PGA star Bryson DeChambeau.
Robert Mattacchione, NVOS Chairman and CEO, stated, “Novo’s ecosystem is being built strategically to offer an essential and differentiated solution to health and wellness globally. Without the world-class manufacturing capabilities of Acenzia, an exclusive agreement with PI Nutrition would not be possible. We look forward to partnering with a well-respected, high-quality brand like PI Nutrition as together we begin to offer consumers globally advanced nutritional products and supplements.”
Tom Dowd, PI Nutrition CEO/Co-Founder, added, “We have huge international demand, and we are glad we found a respected and proven partner to help bring our amazing products to the Middle East. This is an exciting time for PI Nutrition as we continue to expand and introduce consumers to better products which they can trust to support their healthy lifestyle.”
NVOS Third Quarter 2021 Financial Results
On July 14th NVOS reported financial results for its fiscal third quarter period ended May 31, 2021. Financial Highlights included the following:
As of May 31, 2021, the NVOS cash and cash equivalents were $8.3 million, total assets were $42.2 million, total liabilities were $5.6 million, and stockholders’ equity was $36.6 million.
Revenues for the three months ended May 31, 2021 were $2.38 million representing an increase of $1.342 million, or 129.3%, from $1.038 million for the same period in 2020. The increase in revenue is principally due to periodic easing of COVID pandemic related restrictions which resulted in NVOS practitioners being able to provide more patients with additional in-person services compared to the March 17 through June 1, 2020 period in which NVOS practitioners were limited to providing their services either remotely or in-person to patients requiring emergency and essential need treatment.
Adjusted EBITDA for the three months ended May 31, 2021 was $91,744.
Recent Milestones:
On June 24, 2021, Novo Healthnet Limited, a wholly owned subsidiary of NVOS, 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.
On May 24, 2021, NVOS completed the acquisition of PRO-DIP, LLC (“PD”), 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. PRO-DIP is a wholly owned subsidiary of NVOS.
On April 15, 2021, NVOS formed a Medical Advisory Board. The initial members of the Medical Advisory Board are Dr. Joseph M. Chalil, Dr. Michael G. Muhonen, and Dr. Zach P. Zachariah. The goal of the Medical Advisory Board is to provide NVOS with important insight and expertise as NVOS expands its personalized consumer engagement across all aspects of the patient/practitioner relationship through the integration of medical technology, advanced therapeutics, and rehabilitative sciences.
On April 13, 2021, NVOS completed the closing pursuant to a securities purchase agreement with certain accredited institutional investors to purchase approximately $8.0 million of its common stock in a registered direct offering under Form S-3 and warrants to purchase common stock in a concurrent private placement. The combined purchase price for one share of common stock and one warrant was $3.35.
On March 22, 2021, the SEC declared effective the NVOS registration statement on Form S-3 (File No. 333- 254278) (the “Form S-3”). The Form S-3 is a shelf registration statement relating to (i) the offer from time to time of securities having a maximum aggregate offering price of $75 million, and (ii) the resale by certain selling stockholders of up to an aggregate of 597,352 shares of the Company’s common stock.
For more information on Novo Integrated Sciences (NASDAQ: NVOS) visit: www.novointegrated.com.
DISCLAIMER:
CAP/FrontPageStocks/CorporateAds.com (CA) is a third-party publisher and news dissemination service provider. CAP/FPS/CA is NOT affiliated in any manner with any company mentioned herein. CAP/FPS/CA is a news dissemination solutions provider and is NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. CAP/FPS/CA’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release or opinion of the writer. CAP/FPS/ CA is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. CAP/FPS/CA has been compensated $500 by a third party for dissemination of this article.
Disclaimer/Safe Harbor:
These news releases and postings may contain forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies’ contracts, the companies’ liquidity position, the companies’ ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.
Media Contact
Company Name: NOVO INTEGRATED SCIENCES, INC
Contact Person: Media Relations
Email: Send Email
Phone: (206) 617-9797
Address:11120 NE 2nd Street Suite 100
City: Bellevue
State: WA 98004
Country: United States
Website: www.novointegrated.com
Read more: https://www.getnews.info/1169265/multidiscipl...z78WKfTjiV
ByGetNewsPublishedOctober 4, 2021
Holistic Approach to Patient-First Health and Wellness Care.
LOIs Signed to Acquire Seven Pharmacies in the US Which Collectively Generated Approximately $55 Million Annualized Sales in 2020.
Contemplated All-Stock Transactions Would Establish a Footprint in the US to Leverage Multidisciplinary Healthcare Products and Services.
Exclusive Licensing Agreement with Performance Inspired Nutrition to Manufacture & Distribute in the Middle East.
Novo Integrated Sciences, Inc. (NASDAQ: NVOS) is pioneering a holistic approach to patient-first health and wellness through a multidisciplinary healthcare ecosystem of services and product innovation. NVOS offers an essential and differentiated solution to deliver, or intend to deliver, these services and products through the integration of medical technology, advanced therapeutics, and rehabilitative science.
NVOS believes 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.
The NVOS 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, the NVOS science first approach to product innovation further emphasizes the NVOS mandate to create and provide over-the-counter preventative and maintenance care solutions. Innovation in science as represented by proprietary technology assures NVOS of continued cutting edge advancement in patient first platforms.
NVOS Signs LOIs to Acquire Seven Pharmacies in the United States
On August 30th NVOS announced the signing of non-binding Letters of Intent (“LOI”) to acquire seven pharmacies in the United States. The proposed all-stock transactions contemplate the acquisition, by NVOS, of a 50% interest in each pharmacy. NVOS expects to negotiate and enter into definitive agreements and to close the acquisitions during the second half of 2021.
Robert Mattacchione, NVOS Chairman and CEO, stated, “This acquisition of seven pharmacies, which collectively generated approximately $55 million in annualized revenue in 2020, would establish our footprint in the U.S. with locations in Florida, Virginia, and Arizona. We believe that the daily patient interaction will allow us to leverage our telehealth platform, mobile application (NovoConnect), on-site diagnostic capabilities such as Zgraft, and customized nutrition and wellness product offerings, establishing Novo as a vertically integrated, multidisciplinary health care provider. As part of the proposed all-stock transactions, current management would remain in place to continue operating the pharmacies day-to-day, with a more unique Novo patient product and service offering at each of their locations.”
Exclusive Licensing Agreement with Performance Inspired Nutrition to Manufacture & Distribute in the Middle East
On August 18th NVOS announced that its subsidiary, Acenzia Inc. signed an exclusive 10-year licensing agreement with Performance Inspired Nutrition (“PI Nutrition”) to manufacture and distribute nutritional products, natural supplements, proteins, vitamins and other PI Nutrition branded health and wellness products in the Middle East.
Co-Founded by multiple-time Oscar-award nominee, Mark Wahlberg, and proven industry executive, Tom Dowd, PI Nutrition was created to help inspire people to live a more active and healthier lifestyle by offering honest, all-natural, and trustworthy products. PI Nutrition has held the highest standards and quality control of its manufacturing to ensure the best and safest products for its loyal consumer base. PI Nutrition has more than 58 health and wellness nutritional products that cater to the everyday active lifestyle consumer, as well as many professional athletes. Investors in PI Nutrition include NBA star Draymond Green and PGA star Bryson DeChambeau.
Robert Mattacchione, NVOS Chairman and CEO, stated, “Novo’s ecosystem is being built strategically to offer an essential and differentiated solution to health and wellness globally. Without the world-class manufacturing capabilities of Acenzia, an exclusive agreement with PI Nutrition would not be possible. We look forward to partnering with a well-respected, high-quality brand like PI Nutrition as together we begin to offer consumers globally advanced nutritional products and supplements.”
Tom Dowd, PI Nutrition CEO/Co-Founder, added, “We have huge international demand, and we are glad we found a respected and proven partner to help bring our amazing products to the Middle East. This is an exciting time for PI Nutrition as we continue to expand and introduce consumers to better products which they can trust to support their healthy lifestyle.”
NVOS Third Quarter 2021 Financial Results
On July 14th NVOS reported financial results for its fiscal third quarter period ended May 31, 2021. Financial Highlights included the following:
As of May 31, 2021, the NVOS cash and cash equivalents were $8.3 million, total assets were $42.2 million, total liabilities were $5.6 million, and stockholders’ equity was $36.6 million.
Revenues for the three months ended May 31, 2021 were $2.38 million representing an increase of $1.342 million, or 129.3%, from $1.038 million for the same period in 2020. The increase in revenue is principally due to periodic easing of COVID pandemic related restrictions which resulted in NVOS practitioners being able to provide more patients with additional in-person services compared to the March 17 through June 1, 2020 period in which NVOS practitioners were limited to providing their services either remotely or in-person to patients requiring emergency and essential need treatment.
Adjusted EBITDA for the three months ended May 31, 2021 was $91,744.
Recent Milestones:
On June 24, 2021, Novo Healthnet Limited, a wholly owned subsidiary of NVOS, 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.
On May 24, 2021, NVOS completed the acquisition of PRO-DIP, LLC (“PD”), 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. PRO-DIP is a wholly owned subsidiary of NVOS.
On April 15, 2021, NVOS formed a Medical Advisory Board. The initial members of the Medical Advisory Board are Dr. Joseph M. Chalil, Dr. Michael G. Muhonen, and Dr. Zach P. Zachariah. The goal of the Medical Advisory Board is to provide NVOS with important insight and expertise as NVOS expands its personalized consumer engagement across all aspects of the patient/practitioner relationship through the integration of medical technology, advanced therapeutics, and rehabilitative sciences.
On April 13, 2021, NVOS completed the closing pursuant to a securities purchase agreement with certain accredited institutional investors to purchase approximately $8.0 million of its common stock in a registered direct offering under Form S-3 and warrants to purchase common stock in a concurrent private placement. The combined purchase price for one share of common stock and one warrant was $3.35.
On March 22, 2021, the SEC declared effective the NVOS registration statement on Form S-3 (File No. 333- 254278) (the “Form S-3”). The Form S-3 is a shelf registration statement relating to (i) the offer from time to time of securities having a maximum aggregate offering price of $75 million, and (ii) the resale by certain selling stockholders of up to an aggregate of 597,352 shares of the Company’s common stock.
For more information on Novo Integrated Sciences (NASDAQ: NVOS) visit: www.novointegrated.com.
DISCLAIMER:
CAP/FrontPageStocks/CorporateAds.com (CA) is a third-party publisher and news dissemination service provider. CAP/FPS/CA is NOT affiliated in any manner with any company mentioned herein. CAP/FPS/CA is a news dissemination solutions provider and is NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. CAP/FPS/CA’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release or opinion of the writer. CAP/FPS/ CA is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. CAP/FPS/CA has been compensated $500 by a third party for dissemination of this article.
Disclaimer/Safe Harbor:
These news releases and postings may contain forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies’ contracts, the companies’ liquidity position, the companies’ ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.
Media Contact
Company Name: NOVO INTEGRATED SCIENCES, INC
Contact Person: Media Relations
Email: Send Email
Phone: (206) 617-9797
Address:11120 NE 2nd Street Suite 100
City: Bellevue
State: WA 98004
Country: United States
Website: www.novointegrated.com
Read more: https://www.getnews.info/1169265/multidiscipl...z78WKfTjiV
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1️⃣I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
2️⃣All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies.
3️⃣I will not and cannot be held liable for any actions you take as a result of anything you read here.
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