National clinic expansion, the addition of corporate mental health programs and improved patient access are helping define The Newly as a national leader in mental health and wellness
Highlights:
- Strength of the Newly's protocols is helping establish the Company as a key partner for Worker's Compensation Boards across Canada
- New clinics in British Columbia and Nova Scotia anticipated to open in 2023
- Expected launch of the first Center of Excellence in Toronto, Ontario in 2024
- Expanding service offerings through the introduction of Corporate Mental Health Services
- The Newly's programs are now offered through most major short and long-term disability benefit providers
- Strategic combination with Pathway Health and HEAL Global sets a strong foundation for domestic and international expansion
Calgary, Alberta--(Newsfile Corp. - May 17, 2023) - The Newly Institute Inc. ("The Newly" or the "Company"), an innovative leader in helping Canadians manage their mental health and wellness through intensive outpatient programs, is pleased to provide the following updates on the Company's national growth in clinical footprint, strategic extension of key service offerings, improvements in patient access and expansionary synergies associated with the proposed transaction between The Newly, Pathway Health Corp. (TSXV: PHC) ("Pathway") and HEAL Global Holdings Corp ("HEAL Global") (the "Transaction").
The Newly Institute
The Newly's key differentiators are attributable to its interdisciplinary programs specifically tailored to first responders and frontline health care workers. In addition to tailored programs for first responders and frontline health care workers, The Newly's interdisciplinary programs are also available to support individuals in the community while supporting physicians and specialists. With industry leading outcome data and results to date1, The Newly has gained the support of Worker's Compensation Boards as key partners across Canada. The Newly has successfully established these programs as disability management treatments accessible through traditional benefit packages and the Company's new corporate mental health program.
The strength of the Company's clinical protocols and business development initiatives has built the foundation for The Newly's recognition as a leading service provider, successfully obtaining municipal, provincial, and national contracts in the process. With the continued expansion of presumptive legislation, The Newly has established itself as a national expert in the treatment of first responders and, the Company is well positioned to continue leading this market segment.
"We have the protocols and have established incredible relationships with our partners at local and national levels," commented Dr. Robert Tanguay, The Newly's Chief Medical Officer. "Strengthened through our proposed strategic combination with Pathway and HEAL Global, The Newly has a unique opportunity to expand services to help all Canadians struggling to recover and return to the workplace while finding meaning in their lives. Our programs are designed to create long-lasting change by incorporating holistic evidence-based intensive treatments, resolving childhood traumas, building resiliency, and focusing on functional outcomes."
National Growth in Clinic Footprint
The Company is proud to be expanding its national footprint with new clinics in British Columbia and Nova Scotia, both expected to open in 2023. The Newly will also be launching its first Centre of Excellence in Toronto, Ontario, providing medically managed interdisciplinary treatment for mental illness, addiction, and chronic pain. The Centre of Excellence will also incorporate interventional pain management into its programs, becoming one of Canada's first all-encompassing, return-to-work program. The expansion of The Newly's national footprint will be further dependent on the closing of the Proposed Transaction (as defined below) and the completion of the private placement described for aggregate gross proceeds of not less than $10 million (see press releases dated April 1, 2023, April 27, 2023, and April 28, 2023).
Arthur H. Kwan, CEO of The Newly, stated: "Canadians deserve to be able to see mental health, addiction, and chronic pain experts in their communities more easily. We have identified additional locations for medium term expansion purposes in the form of The Newly Centres of Excellence and The Newly Mental Health and Physical Rehabilitation Clinics. We remain steadfast in our commitment to transform and increase accessibility for mental health care".
Expanding Newly's Offerings to include Corporate Mental Health Services
In collaboration with key corporate health programs to provide world class care, The Newly is pleased to introduce Corporate Mental Health Services to the Canadian market. Corporate mental health has a paucity of treatment options, often limited to supportive counselling and medications, resulting in program underuse and productivity loss. The Newly will be the first of its kind to offer an evidence-based, interdisciplinary management for its clients' employees who are struggling with anxiety, depression, burnout, trauma, addiction, or chronic pain. In addition to Corporate Mental Health partnerships, The Newly has also entered into a partnership with Harrison Healthcare, a private healthcare provider with locations currently in Calgary, Alberta and Vancouver, British Columbia, where The Newly's interdisciplinary mental health programs will be available under their new Harrison Healthcare Foundations Mental Health program. Leveraging industry leading treatment protocols, the program is designed to keep people at work while providing holistic and personalized care.
Dr. Kevin Danschinko, Senior Vice President of The Newly, commented: "The clinical expansion and new corporate protocols have been instrumental in furthering partnership discussions with national organizations to improve employee health and wellness utilizing our suite of services."
Improving Patient Access
The Newly is pleased to announce that its programs are now eligible as disability benefits through several short-term and long-term disability firms in Canada. The Newly's improved reach will primarily look to support employees through the return-to-work process. Using the industry leading protocols for first responders and frontline healthcare workers, The Newly is helping Canadians struggling with depression, anxiety, PTSD, trauma, addiction, and chronic pain to get back to the workplace and back to living a full and meaningful life.
Outlook
The Newly will continue with its strategy to grow from the ground up, leveraging mental health and rehabilitation expertise providing programs specifically tailored to the needs of the Company's key referral sources and stakeholders. The proposed combination with Pathway and HEAL Global forms a unique platform with the ability to rapidly expand the Company's service offering and footprint on a national and international scale. As a key component to the combined company's success, The Newly will continue to build on its position of strength through its expertise, data-driven protocols and focus on patient outcomes.
Michael Steele, Chairman and CEO of HEAL Global, commented: "We are very supportive of the growth of The Newly's clinic base, and its strategic initiatives aimed at improving patient access to their programs. As we begin to focus on integration in anticipation of closing the proposed combination between The Newly, Pathway and HEAL Global, we are confident in The Newly's ability to serve as a critical element supporting our foundation for international growth. We believe our alignment on creating a robust healthcare platform backed by science will be of significant benefit to patients and stakeholders for years to come."
Information for The Newly Shareholders
In respect of the Transaction, registered shareholders of The Newly, must complete and return the letter of transmittal sent by the Company's transfer agent, Endeavor Trust Corporation. Non-registered shareholders of The Newly should contact their broker, investment dealer, bank, trust company, or other intermediary for assistance in depositing their shares and should follow the instructions of such intermediary or nominee.
About The Newly Institute Inc.
The Newly Institute Inc., a Calgary, Alberta based private company, believes mental health treatment is in drastic need of a paradigm shift. Our vision is to provide long-lasting change within the industry, community, and patients. We have pioneered an intensive bio-psycho-social-spiritual treatment model that can be supplemented by medically assisted therapies when appropriate. Their medical professionals help patients overcome deeply embedded traumas, addiction and pain that are preventing them from living fully in their everyday lives. While the programs are based on evidence and data, the approach remains personal as it is vital that people feel safe as together the patient and The Newly do the difficult work necessary to achieve wellness.
The Company strives to become Canada's largest and premier operator of interdisciplinary mental health clinics. We currently operate clinics in Calgary, Fredericton, and Edmonton with additional locations planned across Canada.
For further information, please contact:
Arthur H. Kwan, CEO
(825) 540-4042
info@thenewly.ca
Or visit The Newly Institute's website: www.thenewly.ca.
Cautionary Notice Regarding Forward-Looking Statements and Information
This press release contains forward-looking statements and information (collectively, "forward-looking information"). The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends", "potential", "pro forma" and similar expressions are intended to identify forward-looking information. Forward-looking information presented in such statements or disclosures may, among other things, relate to: the anticipated benefits and growth initiatives from the proposed business combination with Pathway and HEAL Global (the "Proposed Transaction") including, but not limited to, anticipated cost savings; the success of certain proposed growth initiatives identified in the press release, including the expansion into Corporate Mental Health services; the continued availability of the Company's services through short-term and long-term disability firms; plans and objectives of management for future operations; and anticipated operational and financial performance.
The forward-looking information in this press release is based (in whole or in part) upon factors and assumptions which may cause actual results, performance or achievements of The Newly, Pathway or HEAL Global, to differ materially from those contemplated (whether expressly or by implication) in the forward-looking information. Those factors and assumptions are based on information currently available to The Newly, Pathway and HEAL Global, including information obtained from third party sources and assumptions. Neither The Newly, Pathway nor HEAL Global assumes any responsibility for the accuracy or completeness of such third-party information. Actual results or outcomes may differ materially from those expressed or implied by forward-looking information. Various factors and assumptions have been considered and made in respect of forward-looking information including: the receipt of the necessary approvals in respect of, and completion of, the Proposed Transaction; no material changes in the legislative and operating framework for the business of The Newly, Pathway and HEAL Global, as applicable; no material adverse changes in the business of any or all of The Newly, Pathway and HEAL Global; the ability of Pathway to obtain necessary financing; the anticipated benefits and other synergies and cost savings of the Proposed Transaction; risks regarding the integration of the businesses of each of The Newly, Pathway and HEAL Global; the assessment of the value of The Newly, Pathway and (or) HEAL Global; no significant event occurring outside the ordinary course of business of The Newly or Pathway, as applicable; and the assumptions relating to targeted revenue and annualized revenue run rates set forth elsewhere in this news release.
Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the factors described in greater detail in the "Risk Factors" set forth in The Newly and Pathway's joint information circular dated April 26, 2023 and Pathway's Annual Information Form dated April 24, 2023 for the year ended December 31, 2022 and Pathway's other periodic filings available at www.sedar.com. These factors are not intended to represent a complete list of the factors; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. The forward-looking statements contained in this news release are made as of the date of this news release, and Pathway expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.
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1Publication being submitted for peer review.
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