Novo Integrated Sciences $60M Acquisition of Ophir Collection Gets Court Approval
A collection of very large faceted and polished gem materials is apparently being sold to diversify a company’s investment portfolio.
This is a news item that we read about this past week and thought it would be of interest to gem collectors and appraisers. We are certain it will raise a few eyebrows.
With very little available information about the details of the gems, or the appraisal work, the only thing we can say about this news release is that it is as colossal as the gem materials themselves.
“Novo Integrated Sciences, Inc. (NASDAQ: NVOS) today announced the United States District Court for the Central District of California has approved the Purchase and Sale Agreement which provides for Novo to acquire a certain collection of 43 gemstones, 42 of which are certified by the Gemological Institute of America, known as the “Ophir Collection,” for $60,000,000.”
$60 million. One should note that GIA does NOT certify gem materials. GIA will issue a report, and in this case, because GIA does not asses value, we could assume that the reports were identification reports.
December 04, 2023 11:30 AM Eastern Standard Time
BELLEVUE, Wash.–(BUSINESS WIRE)–Novo Integrated Sciences, Inc. (NASDAQ: NVOS) (the “Company” or “Novo”) today announced the United States District Court for the Central District of California has approved the Purchase and Sale Agreement (“PSA”) which provides for the Company to acquire a certain collection of 43 gemstones, 42 of which are certified by the Gemological Institute of America, known as the “Ophir Collection,” for $60,000,000. The PSA was entered into on November 21, 2023, between the Company and Blake Alsbrook (“Seller”), solely in Seller’s capacity as Court-appointed Successor Receiver in Ocean Thermal Energy Corporation v. C. Robert Coe II, et al., United States District Court for the Central District of California, Case No. 2:19-cv-04299 VAP (JPRx). The PSA was previously disclosed by the Company in a Form 8-K filing, dated November 27, 2023.
Robert Mattacchione, Novo’s CEO and Chairman of the Board, stated, “The magnitude of the world-famous Ophir Collection is expected to optimize the company’s monetization opportunity resulting in a significant cash surplus position while providing the company with both debt retirement and growth initiative solutions. Securing the financing required for the execution of this transaction has been a significant undertaking and we look forward to calling the collection ours.”
About Novo Integrated Sciences, Inc.
Novo Integrated Sciences, Inc. is pioneering a holistic approach to patient-first health and wellness through a multidisciplinary healthcare ecosystem of services and product innovation. Novo offers an essential and differentiated solution to deliver, or intend to deliver, these services and products through the integration of medical technology, advanced therapeutics, and rehabilitative science.
We believe that “decentralizing” healthcare, through the integration of medical technology and interconnectivity, is an essential solution to the rapidly evolving fundamental transformation of how non-catastrophic healthcare is delivered both now and in the future. Specific to non-critical care, ongoing advancements in both medical technology and inter-connectivity are allowing for a shift of the patient/practitioner relationship to the patient’s home and away from on-site visits to primary medical centers with mass-services. This acceleration of “ease-of-access” in the patient/practitioner interaction for non-critical care diagnosis and subsequent treatment minimizes the degradation of non-critical health conditions to critical conditions as well as allowing for more cost-effective healthcare distribution.
The Company’s decentralized healthcare business model is centered on three primary pillars to best support the transformation of non-catastrophic healthcare delivery to patients and consumers:
- First Pillar: Service Networks. Deliver multidisciplinary primary care services through (i) an affiliate network of clinic facilities, (ii) small and micro footprint sized clinic facilities primarily located within the footprint of box-store commercial enterprises, (iii) clinic facilities operated through a franchise relationship with the Company, and (iv) corporate operated clinic facilities.
- Second Pillar: Technology. Develop, deploy, and integrate sophisticated interconnected technology, interfacing the patient to the healthcare practitioner thus expanding the reach and availability of the Company’s services, beyond the traditional clinic location, to geographic areas not readily providing advanced, peripheral based healthcare services, including the patient’s home.
- Third Pillar: Products. Develop and distribute effective, personalized health and wellness product solutions allowing for the customization of patient preventative care remedies and ultimately a healthier population. The Company’s science-first approach to product innovation further emphasizes our mandate to create and provide over-the-counter preventative and maintenance care solutions.
Innovation through science combined with the integration of sophisticated, secure technology assures Novo Integrated Sciences of continued cutting-edge advancement in patient-first platforms.
For more information concerning Novo, please visit www.novointegrated.com.