NRx Pharmaceuticals completes Dura Medical acquisition

NRx Pharmaceuticals, Inc. (NASDAQ: NRXP) and its subsidiary HOPE Therapeutics completed the acquisition of Dura Medical, marking the initial purchase in a planned network of interventional psychiatry clinics along Florida's West Coast.

Dura Medical operates locations in Naples and Fort Myers, Florida, offering ketamine therapy, transcranial magnetic stimulation, and other treatments for depression and PTSD to both veterans and civilian patients. The company was founded in 2018 and is revenue generating and EBITDA positive, according to the press release.

Stephen Durand, founder of Dura Medical and a U.S. Army veteran, will serve as Director of Clinic Operations for HOPE Therapeutics in Florida. Dura participates in the Veterans Affairs Community Cares Network under an agreement with the U.S. Department of Veterans Affairs.

The acquisition is part of HOPE's expansion strategy that includes pending acquisitions of Neurospa TMS and Cohen & Associates, which together are planned to provide services at more than eight locations along Florida's West Coast. HOPE aims to extend coverage throughout the Florida Peninsula.

"Dura Medical was founded with the mission to reduce suicide in our community and we aim to treat more than 10,000 people by 2026," said Durand in a statement.

NRx Pharmaceuticals is a clinical-stage biopharmaceutical company developing treatments for central nervous system disorders, including suicidal depression, chronic pain, and PTSD. The company has received Fast Track Designation for NRX-100 and Breakthrough Therapy Designation for NRX-101.

HOPE Therapeutics is building a network of interventional psychiatry clinics offering ketamine, transcranial magnetic stimulation, and other therapies for patients with suicidal depression and related disorders.

You May Also Be Interested In

• Delivery Hero boards recommend Uber's €41.50-per-share takeover offer
• Vox Royalty to acquire 2% gold royalty at White Dam for A$5M
• Advent International proposes $1.02-per-share buyout of Definitive Healthcare