ACT Medical Clinic sold to Vancouver-based Levitee Labs

30 July, 2021

ACT Medical Clinic sold to Vancouver-based Levitee Labs

BY MEDICINE HAT NEWS ON JULY 30, 2021.

A chronic pain and drug addictions clinic in Medicine Hat has a new owner that aims to become a “vertically integrated” provider of substance abuse treatment in the province.

The ACT Medical Clinic, located on Maple Avenue in the Hat, is one of five locations in the province sold to a Vancouver-based company, Levitee Labs, while senior ACT officials will be retained to operate the Alberta operations.

That company announced its intent to buy the ACT chain of clinics, which provides treatment for opioid addiction and disperses methadone and suboxone, last week.

Levitee also finalized two other acquisitions on Thursday – the $3.6 million purchase of three unnamed pharmacies that focus on substance abuse treatment and acquiring the “BlockMD” telephone medical service company.

“Through these acquisitions, we expect Levitee will become the largest non-government provider of addiction treatment services in Alberta,” said Pouya Farmand, the CEO of Levitee.

The price for the five clinic locations, including those in Calgary, Lethbridge, Red Deer and Grande Prairie, was $350,000.

The company’s release states the clinics recorded a combined total of 35,000 patient visits over the past year.

 

via https://medicinehatnews.com/news/local-news/2021/07/30/act-medical-clinic-sold-to-vancouver-based-levitee-labs/

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