Bienstar Wellness Corp., an integrative mental health company specializing in psychedelic medicine with core operations in Latin America, has entered into a binding letter of intent to acquire 100% of BRC Saude Mental E Terapias Assistidas Ltda., a Brazilian psychedelic institution specialized in ibogaine treatment for substance abuse. Terms of the deal were not disclosed.
Brazil is the largest market in Latin America, with a population of 215 million. Ketamine and ibogaine substances are legal for medical use in psychotherapies in the South American country.
Acquiring Assets And Talent
BRC is owned and led by Dr. Bruno Rasmussen Chaves, who is being appointed chief medical officer of Bienstar.
Dr. Rasmussen has treated over 2,500 patients over the past 27 years, applying integrated mental health psychotherapies using psychedelic substances, mainly ibogaine. A graduate in Medicine from Escola Paulista de Medicina UNIFESP in 1984, Rasmussen specialized in Internal Medicine in 1985 and Gastroenterology in 1986. As a highly recognized physician in Brazil and abroad, Dr. Rasmussen has held important positions in the medical community over the years. He is now leading the only MDMA clinical trial being developed in Latin America and is certified at MAPS (Multidisciplinary Association For Psychedelic Studies) in MDMA Therapy. He is the former chief of the emergency room of the Medical Clinic of São Paulo Hospital.
Commenting on the news, Marco Algorta, Bienstar’s co-founder and CEO, said, “This acquisition represents a significant step in our company’s strategy and brings us closer to becoming the leading company developing mental health treatments with psychedelic substances in Latin America. Dr. Rasmussen's incorporation to the team as CMO and medical practitioner equips Bienstar with over 25 years of medical experience in therapies with psychedelics substances, a broad network of patients and exceptional market access.”
Dr. Rasmussen added, ”Joining Bienstar allows me to enhance and maximize my experience and knowledge in mental health treatments with psychedelic substances, allowing me to further scale my practice and positively impact the lives of many more patients”
Late last year, Bienstar partnered with Novamind Inc. (CSE:NM) (OTCQB:NVMDF) to develop integrative mental health clinics in Latin America. The publicly-traded company also invested $500,000 in Bienstar's $1.25 million seed round and signed a strategic advisory agreement to provide Bienstar with access to Novamind's renowned clinical standard operating procedures (SOPs).
