Delic Holdings, the psychedelic wellness platform, announced this week it will enter a binding merger agreement with Ketamine Wellness Centers Arizona LLC, making Delic the largest psychedelic wellness chain in the country.
Ketamine Wellness Centers is a company based in Arizona and has 10 ketamine infusion treatment clinics in Arizona, Colorado, Florida, Illinois, Minnesota, Nevada, Texas and Washington. The new merger will add Delic’s two clinics in California and Arizona to KWC’s portfolio.
Delic expects to open 15 additional clinics across the country over the next 18 months, “further expanding access to millions who can benefit from psychedelic treatment for a variety of mental health conditions,” according to a news release.
Matt Stang, co-founder and CEO of Delic, said in a news release the merger will help the company, “bring the highest quality and safest treatment options to tens of millions of Americans suffering from a range of pain and mental health conditions.”
“KWC brings a world-class management team to the Delic family with decades of experience in operating clinics and hospitals and have had incredible success in their treatment outcomes for patients,” Stang said. “Adding KWC will ensure our existing patients and many more in the future will receive the best medical treatment and care. We are thrilled to partner with KWC and bring accessibility and psychedelic wellness to millions today through ketamine infusions and in the near future through all FDA-approved treatment options, which we expect to include MDMA and psilocybin.”
Ketamine infusions have emerged as a promising treatment option for chronic diseases and pain disorders. Delic is focused on bringing psychedelic wellness to the mainstream and it’s starting to catch on.
Over the last several years as states have eased restriction on psychedelic drugs, a number of clinical trials have been launched using illicit psychedelic drugs like psilocybin, lysergic acid diethylamide (LSD) and MDMA — also known as molly or ecstasy — to treat mental health disorders. The practice is usually administered with the close guidance of a psychiatrist or psychotherapist.
The idea has been around for decades, even centuries in some cultures, but its popularity has picked up significantly over the past few years as investors and scientists have started to get behind the approach.
From 2010 to 2016, there were 22 clinical studies testing psilocybin and MDMA. Just in the last two years, there have been 29 clinical trials, including those for LSD.
In a study published in November of 2020, 71% of people who took psilocybin for major depressive disorder showed a greater than 50% reduction in symptoms after four weeks, and half of the participants entered remission1.
Complications and risks are there, although extremely rare, but this latest merger is another example of the interest and investment being made in the frontier of psychedelic wellness.
Written by Patrick Filbin