Ethema Health Corp, a U.S. behavioral healthcare company specializing in substance use disorder treatment, has successfully concluded its global restructuring efforts with its senior lender. The company has sold and leased back a property in West Palm Beach for $8.5 million, after purchasing it for $5.5 million. This transaction allowed Ethema to pay off all outstanding senior lender debt, resulting in a net reduction of debt of approximately $6.7 million and an overall positive improvement on the balance sheet of $8.7 million.
As part of the deal, Ethema also sold a subsidiary that owns a Canadian property to the senior lender, streamlining its capitalisation table and adopting an asset-light business model. With improved financials, the company is well-positioned to pursue expansion and growth opportunities through a Reg A+ offering. Ethema's core mission revolves around developing world-class programs and techniques for substance use disorder treatment in North America.