Pathway Health Corp. announced that it has signed a memorandum of understanding (MOU) with Wellbeing Digital Sciences Inc. (Wellbeing) pursuant to which Pathway would acquire certain Canadian assets of Wellbeing. The contemplated transaction is expected to be completed in two stages, all concluding on or before June 30, 2022.

Pursuant to the terms and conditions of the MOU, Pathway would acquire a license for the pain management program of Wellbeing's wholly owned subsidiary, IRP Health Ltd. (IRP), and the intellectual property (IP) associated with the provision of intravenous ketamine services (IVK) to treat mental health conditions, among other assets. The MOU also outlines a fractional franchise model for IRP and related fee structure. The first closing is contemplated to include IRP and IVK on or before April 30, 2022, while the second closing is contemplated to include the remaining assets documented in the MOU on or before June 30, 2022.

The consideration for the assets is under final negotiation.