Novo Integrated Sciences, Inc. announced the signing of a Master Collaboration Agreement with Psychocare Health Pvt. India ("PCHPL"). This partnership initiates a strategic initiative to introduce new products and healthcare technologies to the Indian market, with plans to extend healthcare related products to the North American market.

This collaboration between Novo and PCHPL intends to strengthen and emphasize both companies' presence in the pharmaceutical, nutraceutical, dietary, and protein-based food products industry in both India and North America. This partnership (i) includes providing Novo with access to PCHPL's over 500 India based franchisee distributors, and (ii) provides Novo with an opportunity to integrate into PCHPL's supply chain. This strategic move is expected to optimize manufacturing processes and enhance market access for Novo brands and products.

As per a recent report released by the International Market Analysis Research and Consulting Group ("IMARC"), the India dietary supplements market size reached 157.4 Billion (Indian Rupees, INR) in 2023 and in forecasting years (2024-2032) the IMARC report indicates the India market is expected to reach 491.4 Billion, exhibiting an annual growth rate of 13.49%. The 3-year agreement allows for the potential for extension through mutual agreement. Initially, PCHPL and Novo are expected to launch products related to the central nervous system, gastro, and protein supplements.