Ketamine Wellness Centers, one of the largest ketamine therapy providers in the US, has closed its operations.
The chain of ketamine clinics was acquired by Delic Holdings in 2021, with the firms announcing plans for capital infusions and the expansion of more clinics across the country. This expansion did continue into 2022, with additional clinics being added in Nevada and claims of being the largest chain of ketamine clinics in the industry.
Then, apparently surprisingly, Ketamine Wellness quietly announced that it has closed its operations. Patients are taking to Reddit and social media to find out if indeed their therapy sessions will no longer continue.
Details are not known, but this letter is circulating around the internet, reportedly from KWC’s chief executive Kevin Nicholson (source unconfirmed):
“To our valued patients and KWC family, It is with great despair that I am forced to send this email. At the end of business today, Ketamine Wellness Centers (KWC) will no longer be in business. After over ten years of hard work and dedication, the KWC founders entered into an acquisition with Delic. Holdings. The purpose of the acquisition was to expand quickly with the promised funding, yet stay on as operators and employees. We opened three new clinics and had two immature clinics at the time. In one year’s time, KWC became the funding arm of Delic instead of the recipient. We could not take on additional overhead along with the new, and thus, low volume clinics. My wife and I have personally funded payroll and operations since November in an effort to keep the business open. I was forced to close four clinics last week with the promise of imminent funding but it never materialized. So now, unable to pay staff, I am forced to close all operations. I do not take this closure lightly and the founders are devastated. If we could turn back time and remain a private company we would do so. We wholeheartedly believe in this life-changing treatment.
We are very proud of the company we built and greatly appreciate the staff and patients who have become family. I hope our paths cross again someday.”
