July 16, 2024

Psychocare Health Pvt Ltd Announces Strategic Collaboration with Novo Integrated Sciences to Introduce Innovative Healthcare Solutions Globally

3 min read

New Delhi (India), January 12: Psychocare Health Pvt. Ltd. India (PCHPL) has recently entered into a Master Collaboration Agreement with Novo Integrated Sciences, Inc. (NASDAQ: NVOS), marking a strategic move to introduce innovative healthcare solutions to the Indian market. This collaboration also aims to extend healthcare-related products to the North American market, showcasing a commitment to global expansion and the introduction of state-of-the-art healthcare technologies.

The partnership between PCHPL and Novo is set to bolster their presence in the pharmaceutical, nutraceutical, dietary, and protein-based food products industry in India and North America. 

The partnership emphasizes the introduction of unique healthcare-related products to the North American market, marking a significant stride in extending PCHPL’s global reach. Additionally PCHPL (having a 500+ distributors network in India) shall be bringing in unique healthcare products to the Indian market in collaboration with Novo.

Robert Mattacchione, Novo’s CEO and Chairman of the Board, emphasized, “This partnership aligns with our mission to extend our global footprint and provide innovative healthcare-related solutions. With PCHPL’s impressive growth trajectory and comprehensive product range, we are confident in our combined potential for true market impact and significance.”

Mr. Supreet Singh, PCHPL’s CEO, highlighted the collaboration as a monumental step in PCHPL’s journey to becoming a global healthcare player. He expressed confidence that Novo’s expertise and innovative approach will enrich PCHPL’s product offerings, supporting their mission to provide quality healthcare solutions worldwide.

The collaboration is particularly notable in the context of the Indian dietary supplements market, as highlighted by a recent report from the International Market Analysis Research and Consulting Group (IMARC). The report projects significant growth in the market, reaching 491.4 Billion INR by 2032, with an annual growth rate of 13.49 per cent.

The 3-year agreement between PCHPL and Novo allows for potential extensions through mutual agreement. Initially, the focus is on launching products related to the central nervous system, gastro, and protein supplements.

PCHPL has grown exponentially under the leadership of Mr. Jagdeep Singh and Mr. Supreet Singh. From its humble beginnings as Radix Pharmaceuticals in 2005, PCHPL now offers a diverse range of over 900 healthcare products, across India, including pharmaceuticals, nutraceuticals, dermatology, cosmetics and traditional medicines like Ayurveda/ Siddha/ Unani and advanced technology products., PCHPL has received prestigious awards for its contributions to the pharmaceutical industry. Mr. Supreet Singh has been recognized in 40 Under 40 category of Business Outreach Magazine for Innovation and Resilience (2023). Apart from this, PCHPL has received the MSME India Business Award for 2 consecutive years (2022 and 2023), the Brand Impact Award by Indian Achievers Forum (2021-22) and India’s Fastest growing healthcare company in Neuro and Psychiatry (CIMS Medica 2021).

Mr. Supreet Singh a certified broadcaster from Vancouver Canada has also started with a Podcast show called “The Supreet Singh Show” which is rapidly establishing itself as a platform for uncovering the transformative journeys and life stories of individuals who have left an indelible mark in their respective fields.

PCHPL’s recent ventures include launching the e-commerce platform and an expansion into the Canadian market via Cancare Inc. With a growth rate that has multiplied 30-fold in just over a decade, PCHPL is dedicated to offering the highest quality healthcare solutions to enhance individual and community well-being through partnerships with top-tier pharmacy chains, distributors, and healthcare providers.

Novo Integrated Sciences, Inc. is pioneering a holistic approach to patient-first health and wellness, utilizing a multidisciplinary healthcare ecosystem. The company’s decentralized healthcare business model is centred on three pillars namely: service networks, technology, and products to transform non-catastrophic healthcare delivery.

This collaboration between Psychocare Health Pvt. Ltd. and Novo Integrated Sciences is poised to make a substantial impact on the healthcare industry, offering distinctive and unique healthcare products to both the Indian and North American markets.

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