- NDatalyze has entered into an arms-length agreement to acquire a 100 per cent interest of Mindbalanced
- Mindbalanced operates across multiple U.S. states and is revolutionizing mental healthcare through its integrated and individualized approach
- Mindbalanced also uses advanced artificial intelligence and biometric data to deliver insights into mental health conditions
- Shares of NDatalyze are up 3.45 per cent to C$0.15 as of 12:14 pm ET
NDatalyze Corp. (CSE:NDAT) has entered into an arms-length agreement to acquire a 100 per cent interest in Mindbalanced, a company revolutionizing mental healthcare through its integrative and individualized approach.
In a news release, the Calgary-based company stated it will be purchasing Mindbalanced for C$3.75 million, payable through conditional shares at $0.25 each based on performance-based milestones.
Under the terms of the agreement, Mindbalanced has the option to arrange a private placement up to US$150,000 at $0.15 per share.
“Our goal is to provide an objective, highly informed diagnostic tool that will help bring mental condition diagnosis into the digital world,” Jim Durward, CEO of NDatalyze, said in a statement. “This transaction propels [NDatalyze] forward by providing a near-term revenue entry point into the U.S. market, collection of DNA and TMS treatment data to enhance the YMI’s predictive mental condition diagnostic tool, and mitigating risk while rewarding success on a reasonable multiple.”
Operating across multiple U.S. states, Mindbalanced uses advanced artificial intelligence and biometric data analysis to provide insights into mental health conditions. Through its approach, Mindbalanced provides personalized treatment plans to enhance patient outcomes.
What’s more, the Mindbalanced pharmacogenomics testing shows how genetics influence medication responses, while therapy targets specific brain regions by offering a non-invasive treatment option for mental health conditions.
NDatalyze’s acquisition of Mindbalance is expected to close before April 15 and is subject to board approval.
NDatalyze generates technology-based, health-related solutions and is focused on applying machine learning to predict potential benefits associated with the use of entheogenic compounds for mental health conditions.
Shares of NDatalyze are up 3.45 per cent to C$0.15 as of 12:14 pm ET.
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