Acquired the assets of SIBI Medical, operating as the London Spine Institute, adding back, neck and spine specialists to enhance our care options for patients
The London Spine Institute has an interdisciplinary group of providers that use evidence-based care to help treat back, neck and other spinal conditions. (Credit: CHUTTERSNAP on Unsplash)
NeuPath Health Inc. (TSXV:NPTH), (“NeuPath” or the “Company”), owner and operator of a network of clinics delivering category-leading chronic pain treatment, today announced the closing of the acquisition of the assets of SIBI Medical Inc., operating as the London Spine Institute in London, Ontario effective January 12, 2024.
The London Spine Institute has an interdisciplinary group of providers that use evidence-based care to help treat back, neck and other spinal conditions. These physicians have extensive experience in treating and diagnosing spinal conditions, and their affiliate therapists focus on treating the physical and mental aspects of acute and chronic pain using best practice, with an emphasis on functional recovery and return to work. Under the agreement, NeuPath has acquired the assets of the London Spine Institute and will initially continue the operations under the same name and will be rebranded at a future date. The current roster of physicians will continue to serve patients from the existing location and there will be no changes in operations for our patients, physicians and staff.
“We are thrilled to welcome the London Spine physicians to the NeuPath team, expanding our presence and our roster of specialists in our core London market,” said Joe Walewicz, NeuPath’s CEO. “Our improved balance sheet and better cash flows will allow us to continue investing in selected growth opportunities and we are evaluating multiple potential expansion options across the country.”
The purchase price will be funded from NeuPath’s existing cash on hand. This acquisition is not expected to have a significant impact on NeuPath’s 2024 financial results.
Source: Company Press Release