TORONTO, ON, October 27, 2022 – Pathway Health Corp. (TSXV: PHC) (Frankfurt: KL1) (formerly Colson Capital Corp.) (“Pathway” or the “Company”), an integrated healthcare company that provides products and services to patients suffering from chronic pain and related conditions, is pleased to announce that it has entered into an arm’s length asset purchase agreement to acquire all or substantially all the operating assets (the “Transaction”) of IRP Health Ltd. (“IRP”) a wholly owned subsidiary of Wellbeing Digital Sciences Inc. (“Wellbeing”) for a cash purchase price of $107,000.
Under the transaction, Pathway would acquire all of the intellectual property, billing numbers, intangible assets and certain equipment associated with IRP’s multidisciplinary pain management and physical therapy programs that cater to military veterans, RCMP and first responders. Pathway will assume the lease and all of the assets in the Victoria, British Columbia location, including all intangible assets, prepaid expenses, deposits, and equipment.
According to a 2019 Canadian Pain Task Force report on chronic Pain in Canada, veterans report chronic illnesses at a rate two to three times higher than in the general population. Chronic pain affects 41% of Canada’s 670,000 veterans. Almost two thirds (63%) of veterans with chronic pain also have a diagnosis of a mental health condition, and many say their pain interferes with work, makes it more difficult to adjust to civilian life, and causes stress and activity reductions. 
“We’re very pleased to be entering into this agreement with Wellbeing and IRP as we look to expand our pain, allied health/rehabilitation, and mental health services to our miliary veterans, RCMP and other first responders,” said Ken Yoon, CEO at Pathway. “With our experience in chronic pain management and our aim to grow our presence in mental health services, we believe Pathway is well suited to provide these valuable clinical services to this most deserving group of Canadians and IRP will be a fantastic addition to our network of clinics.”
 Chronic Pain in Canada: Laying a Foundation for Action. Canadian Pain Task Force, June 2019
ABOUT WELLBEING DIGITAL SCIENCES
Wellbeing Digital Sciences Inc. is an evidence-based mental healthcare company focused on the development and implementation of innovative clinical treatment solutions, including psychedelic medicine and digital therapeutics, as supported by clinical research. Its mission is supported by a network of North American clinics that provide forward-thinking therapies and other types of treatment to patients as well as through a contract research organization that offers clinical trials services to clients pursuing drug development.
For additional information, please visit wellbeingdigital.co
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