Australian mental-health-focused clinical services and drug development firm Emyria Ltd (ASX:EMD) has completed a deal to snap up Mind Body Consulting Pty Ltd, trading as the Pax Centre.
Strategic step
The A$1.7 million acquisition is a strategic step towards Emyria's expansion and delivers on its commitment to redefine mental health care and drug development.
The acquisition fortifies Emyria's position in the emerging field of psychedelic-assisted therapies (PAT). Emyria's unique wraparound care model will be bolstered by the Pax Centre's expertise.
By expanding its range of services and adding to its health professional team, Emyria aims to increase revenue streams and improve patient outcomes, which will in turn facilitate further investment in the company's research and drug development initiatives.
Serving a broader base
The merger enables Emyria to serve a broader patient base, thus providing a richer dataset to support its clinical service strategies and drug development programs.
Emyria has made notable strides in providing psychedelic-assisted therapy, including the securing of patient-ready MDMA and obtaining ethics approval for its MDMA-assisted therapy for Post-Traumatic Stress Disorder (PTSD).
CEO Dr Michael Winlo said: "This acquisition combines the Pax Centre’s expertise in psychological trauma care and specialised facilities with Emyria's clinical, Real-World Data and drug development strengths and marks the commencement of Emyria's growth strategy and commitment to redefine mental health care delivery and drug development in Australia and beyond.”