Novo Integrated Sciences, Inc. (NASDAQ: NVOS) (the “Company” or
“Novo”) proudly announces the signing of a Master Collaboration
Agreement with Psychocare Health Pvt. Ltd. India (“PCHPL”). This
partnership initiates a strategic initiative to introduce new
products and state-of-the-art healthcare technologies to the Indian
market, with plans to extend healthcare related products to the
North American market.
This collaboration between Novo and PCHPL intends to strengthen
and emphasize both companies’ presence in the pharmaceutical,
nutraceutical, dietary, and protein-based food products industry in
both India and North America. This partnership (i) includes
providing Novo with access to PCHPL’s over 500 India based
franchisee distributors, and (ii) provides Novo with an opportunity
to integrate into PCHPL's supply chain. This strategic move is
expected to optimize manufacturing processes and enhance market
access for Novo brands and products.
Robert Mattacchione, Novo’s CEO and Chairman of the Board,
stated, "This partnership aligns with our mission to extend our
global footprint and provide innovative healthcare solutions. With
PCHPL's impressive growth trajectory and comprehensive product
range, we are confident in our combined potential for true market
impact and significance.”
Mr. Supreet Singh, PCHPL’s CEO, added, "This collaboration
signifies a monumental step in PCHPL's ongoing journey to become a
global healthcare player. Novo’s expertise and innovative approach
will undeniably enrich our product offerings, furthering our
mission to provide quality healthcare solutions worldwide."
As per a recent report released by the International Market
Analysis Research and Consulting Group (“IMARC”), the India dietary
supplements market size reached 157.4 Billion (Indian Rupees, INR)
in 2023 and in forecasting years (2024-2032) the IMARC report
indicates the India market is expected to reach 491.4 Billion INR,
exhibiting an annual growth rate of 13.49 percent.
The 3-year agreement allows for the potential for extension
through mutual agreement. Initially, PCHPL and Novo are expected to
launch products related to the central nervous system, gastro, and
protein supplements.
About Psychocare Health Pvt. Ltd.
India
Established in 2005, PCHPL has grown exponentially under the
leadership of Mr. Jagdeep Singh and Mr. Supreet Singh. From its
humble beginnings as Radix Pharmaceuticals, PCHPL now offers a
diverse range of over 900 healthcare products, across India,
including pharmaceuticals, nutraceuticals, dermatology, cosmetics
and traditional medicines like Ayurveda/ Siddha/ Unani and advanced
technology products.
PCHPL has been honored with several prestigious awards,
recognizing its outstanding contributions in pharmaceutical
industry, which include:
- Mr. Supreet Singh has been recognized in 40 Under 40 category
of Business Outreach Magazine for Innovation and Resilience
(2023)
- MSME India Business Award for 2 consecutive years (2022 and
2023)
- Brand Impact Award by Indian Achievers Forum (2021-22)
- India’s Fastest growing healthcare company in Neuro and
Psychiatry (CIMS Medica 2021)
PCHPL’s recent ventures include launching the e-commerce
platform and an expansion into the Canadian market via Cancare Inc.
With a growth rate that has multiplied 30-fold in just over a
decade, PCHPL is dedicated to offering the highest quality
healthcare solutions to enhance individual and community well-being
through partnerships with top-tier pharmacy chains, distributors,
and healthcare providers.
About Novo Integrated Sciences,
Inc.
Novo Integrated Sciences, Inc. is pioneering a holistic approach
to patient-first health and wellness through a multidisciplinary
healthcare ecosystem of services and product innovation. Novo
offers an essential and differentiated solution to deliver, or
intend to deliver, these services and products through the
integration of medical technology, advanced therapeutics, and
rehabilitative science.
We believe that “decentralizing” healthcare, through the
integration of medical technology and interconnectivity is an
essential solution to the rapidly evolving fundamental
transformation of how non-catastrophic healthcare is delivered both
now and in the future. Specific to non-critical care, ongoing
advancements in both medical technology and inter-connectivity are
allowing for a shift of the patient/practitioner relationship to
the patient’s home and away from on-site visits to primary medical
centers with mass-services. This acceleration of “ease-of-access”
in the patient/practitioner interaction for non-critical care
diagnosis and subsequent treatment minimizes the degradation of
non-critical health conditions to critical conditions as well as
allowing for more cost-effective healthcare distribution.
The Company’s decentralized healthcare business model is
centered on three primary pillars to best support the
transformation of non-catastrophic healthcare delivery to patients
and consumers:
- First Pillar: Service Networks. Deliver multidisciplinary
primary care services through (i) an affiliate network of clinic
facilities, (ii) small and micro footprint sized clinic facilities
primarily located within the footprint of box-store commercial
enterprises, (iii) clinic facilities operated through a franchise
relationship with the Company, and (iv) corporate operated clinic
facilities.
- Second Pillar: Technology. Develop, deploy, and integrate
sophisticated interconnected technology, interfacing the patient to
the healthcare practitioner thus expanding the reach and
availability of the Company’s services, beyond the traditional
clinic location, to geographic areas not readily providing
advanced, peripheral based healthcare services, including the
patient’s home.
- Third Pillar: Products. Develop and distribute effective,
personalized health and wellness product solutions allowing for the
customization of patient preventative care remedies and ultimately
a healthier population. The Company’s science-first approach to
product innovation further emphasizes our mandate to create and
provide over-the-counter preventative and maintenance care
solutions.
Innovation through science combined with the integration of
sophisticated, secure technology assures Novo Integrated Sciences
of continued cutting-edge advancement in patient-first
platforms.
For more information concerning Novo Integrated Sciences, please
visit www.novointegrated.com.
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Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, Section 21E of the Securities Exchange Act of 1934, as
amended, or the Private Securities Litigation Reform Act of 1995.
All statements other than statements of historical facts included
in this press release are forward-looking statements. In some
cases, forward-looking statements can be identified by words such
as "believe," “intend,” "expect," "anticipate," "plan,"
"potential," "continue," or similar expressions. Such
forward-looking statements include risks and uncertainties, and
there are important factors that could cause actual results to
differ materially from those expressed or implied by such
forward-looking statements. These factors, risks, and uncertainties
are discussed in Novo’s filings with the Securities and Exchange
Commission. Investors should not place any undue reliance on
forward-looking statements since they involve known and unknown
uncertainties and other factors which are, in some cases, beyond
Novo’s control which could, and likely will, materially affect
actual results, levels of activity, performance or achievements.
Any forward-looking statement reflects Novo’s current views with
respect to future events and is subject to these and other risks,
uncertainties and assumptions relating to operations, results of
operations, growth strategy and liquidity. Novo assumes no
obligation to publicly update or revise these forward-looking
statements for any reason, or to update the reasons actual results
could differ materially from those anticipated in these
forward-looking statements, even if new information becomes
available in the future. The contents of any website referenced in
this press release are not incorporated by reference herein.
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version on businesswire.com: https://www.businesswire.com/news/home/20231205694522/en/
Chris David, COO & President Novo Integrated Sciences, Inc.
chris.david@novointegrated.com (888) 512-1195
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