Psychedelics Must Be Based in ‘Traditional Psychiatric’ Care

For all the hype, psychedelics such as MDMA or psilocybin won’t succeed as a treatment or service line without substantial clinical support within behavioral health organizations. As recent ketamine-provider stumbles demonstrate, simply establishing access to and attempting to scale singular forms of treatment tend to lead to failure. Further, such treatment-specific ventures fail to address […]

Psychedelics Company Numinus Acquires Novamind to Fuel US Expansion

Yet another company that uses psychedelics to treat mental illness is moving into the U.S. market. In June, ​Vancouver, Canada-based Numinus Wellness (TSX: NUMI) expanded its geographic footprint into the U.S. with its acquisition of Novamind, a mental health company specializing in psychedelic medicine. Novamind is headquartered in Toronto, but its clinics are located in […]

Inside the Growing Psychedelics Market, Its Potential to Revolutionize Behavioral Health Treatment

Psychedelics have long brought to mind magic mushrooms, Woodstock and LSD-induced hallucinations. But some corners of the health care industry have started exploring psychedelics for the treatment of certain behavioral health conditions. As proponents seek to change the negative perception long tied to psychedelic substances, a cottage industry of startups has emerged in the young […]

Transactions: Two Acquisitions for BayMark; Psychedelic Therapy Deal

BayMark adds first U.S.-based residential facility BayMark Health Services — a North American medication-assisted treatment (MAT) provider — has acquired its first U.S.-based residential treatment facility. Earlier this month, BayMark added Portland, Maine-based Liberty Bay Recovery Center to its portfolio. Financial terms of the deal were not announced. Headquartered in Lewisville, Texas, BayMark has more […]