Novamind Announces New Patient Financing Options

June 02, 2022

TORONTO, ON / June 2, 2022 / Novamind Inc. (CSE: NM | OTCQB: NVMDF | FSE: HN2)(“Novamind” or the “Company”), a leading mental health company specialized in psychedelic medicine, today announced new patient financing options to help patients access critical mental healthcare services at its six clinic locations in Utah. The Company now accepts Synchrony’s CareCredit credit card for treatments including Transcranial Magnetic Stimulation (TMS), ketamine therapy and Spravato therapy.

Affordability of mental healthcare services remains a primary barrier to accessing treatment in the U.S. In a 2021 survey from McKinsey & Company, almost one fourth of respondents reported deferring mental healthcare, with lack of affordable treatment ranking as the top reason why.1

“Novamind is committed to ensuring that as many patients as possible can access mental health treatment,” said Seneca Anderson, SVP Operations. “Further to delivering the highest standard of care in a variety of accessible formats, whether it’s virtual, in-person, one-on-one or in groups, we’re pleased to implement additional flexible patient financing options like CareCredit at our clinics to reduce barriers to care.”

CareCredit enables patients with a quick prequalifying process and applications via mobile device or over the phone, resulting in an instant credit decision. Once approved, patients can immediately use the CareCredit credit card to pay for deductibles, copays and coinsurance, as well as other costs not covered by insurance.

To learn more, please visit www.cedarpsychiatry.com/insurance.

About Novamind
Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of integrative mental health clinics and operates a full-service contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca.

Contact Information
Yaron Conforti, CEO and Director
Telephone: +1 (647) 953 9512

Samantha DeLenardo, VP, Communications
Email: media@novamind.ca

Investor Relations
Email: IR@novamind.ca

Forward-Looking Statements
This news release contains forward-looking statements. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations including the risks detailed from time to time in the Company’s public disclosure. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable laws.

1: https://www.mckinsey.com/industries/healthcare-systems-and-services/our-insights/how-affordable-is-mental-healthcare-the-long-term-impact-on-financial-health