- Levitee Labs (LVT) has closed its acquisition of BlockMD, a telemedicine platform based in Alberta
- BlockMD serves patients with substance abuse disorder in Western Canada, conducting over 20,000 patient visits in the last year
- The company intends to integrate the BlockMD platform as it transforms the market of psychedelic medicines and therapies for mental health and addiction treatments
- Levitee Labs is establishing itself as a leader in the integrative wellness space
- Levitee Labs Inc. (LVT) is down 3.85 per cent on the day, trading at $0.50 per share
Levitee Labs (LVT) has closed its acquisition of BlockMD, a telemedicine platform based in Alberta.
In 2020, BlockMD was the first company to receive provincial authorization for telemedicine prescriptions.
BlockMD serves patients with substance abuse disorder in Western Canada, conducting over 20,000 patient visits in the last year.
This is one of a string of acquisitions in Alberta that Levitee Labs announced last Friday, including five clinics and three pharmacies.
Levitee Labs acquired BlockMD for 3,430,871 common shares at $0.43 per share for a total of $1.475 million.
The company intends to integrate the BlockMD platform into its plan to transform the market of psychedelic medicines and therapies for mental health and addiction treatments.
Pouya Farmand, CEO of Levitee Labs, commented on the acquisition.
“We are extremely excited to close the acquisition of this critical piece of infrastructure that advances our strategy as a comprehensive provider of addiction treatment solutions,” he said.
“This acquisition is synergistic with other more traditional healthcare assets we are targeting, and will help position us as a top care provider to individuals, regardless of their physical location.”
Levitee Labs is establishing itself as a leader in the integrative wellness space through the integration of psychedelic medicines and therapies.
Levitee Labs Inc. (LVT) is down 3.85 per cent on the day, trading at $0.50 per share as of 1:08 pm ET.
