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RETRANSMISSION: Braxia Scientific Reports a 26% Increase in Total Treatment Volumes in F2023 and an 87% Increase in Treatments at Newly Expanded Ottawa Clinic
Company Taking Strategic Actions to Prioritize Clinic Expansion, Enhance Operational Effectivenes...
About this update from Braxia Scientific Corp
[{"type":"text","content":"RETRANSMISSION: Braxia Scientific Reports a 26% Increase in Total Treatment Volumes in F2023 and an 87% Increase in Treatments at Newly Expanded Ottawa ClinicCompany Taking Strategic Actions to Prioritize Clinic Expansion, Enhance Operational Effectiveness and Right Size Cost StructureThis release adds information to the press release disseminated on June 9, 2023Toronto, Ontario--(Newsfile Corp. - June 12, 2023) - Braxia Scientific Corp. (CSE: BRAX) (OTC Pink: BRAXF) (FSE: 4960) (\"Braxia\", or the \"Company\"), a medical research company with mental health clinics providing innovative ketamine and psilocybin treatments for depression and related disorders, is pleased to report treatment volumes across its clinics increased 26.2% to 3,516 from 2,785 treatments on a year-over-year basis in Fiscal 2023. The Company continues to experience increased demand across all of it 5 clinics. At its new Ottawa clinic, treatment volumes increased 87.2% to 571 from 305 treatments on a year-over-year basis following the completion of construction and opening of its expanded purpose-built clinic in late 2022. Additionally, its Kitchener-Waterloo clinic, opened in mid-2022, continues to see rapid increases in treatment volume, reaching 214 treatments in its first 8 months of operation.\"Over the last few years, Braxia has built a tremendous patient base and reputation for providing innovative, life-saving treatments for people suffering from major depressive disorder, among other mental health conditions. We have seen record levels of referrals which we expect to continue and convert to treatments as we realign and refocus resources to our clinics,\" said Dr. Roger McIntyre, CEO, Braxia Scientific. The Company also reported its current clinic volumes continued to trend up over the last four months through May 2023, with total average monthly treatments up to 307 treatments per month compared with 293 for fiscal 2023. Clinic treatment volumes continue to trend upwards despite executing very little marketing. In the near term, the Company expects to continue to increase its volumes by ramping up direct marketing efforts and improving efficiency with additional capacity planned to come online in September 2023. Dr. McIntyre added, \"To date, patient acquisition growth has largely been driven by our medical team's reputation, relationships and educa...