EMD treats first patients at first Victorian clinic - now operational across 3 Australian states

Our Investment Emyria (ASX: EMD) just started psychedelics treatments for patients with mental health disorders at its FIRST Victorian clinic.

EMD confirmed that more than 30 therapists had been trained for the Victorian expansion on schedule (EMD had planned to launch in Victoria in Q2-2026).

EMD’s first clinic is a 3-bed setup established within Avive Health’s Mornington Peninsula Private Hospital - and we note EMD has an option to expand to a 4th bed in Q4 to match demand.

We think demand could scale fairly quickly in Victoria given BOTH Medibank (private health) and the Department of Veteran Affairs are payers for services at the Victorian clinic.

(source)

After today’s announcement EMD has Empax clinic operations across three states - WA, QLD and now VIC (with NSW the next state EMD is targeting):

(source)

What else is EMD up to?

EMD recently signed a deal with Matilda Nepean Private Hospital - the third independent private hospital operator to partner with EMD.

This will enable EMD’s expansion into NSW and EMD expects to have that new clinic operating in Q3 this year.

After that deal completes, we will see EMD expand its treatment bed capacity to 18 beds across four states in Australia, with a few more expansions aimed for.

These include expansions within some of the states EMD already operates in plus South Australia, Northern Territory and Tasmania:

So now we wait to see those opportunities get converted into open, fully operating clinics. (source)

There was also some big news that came out of the US a few weeks back which we think EMD is uniquely positioned for.

US President Trump signed an Executive Order that accelerates access to psychedelic based treatments for patients with serious mental health conditions.

This is now official US policy:

For most companies developing a new psychedelic treatment, clinical delivery (safely getting it to patients) rather than drug development, is expected to become a major bottleneck to patient access. (source)

Clinical trials to get a new psychedelic treatment approved require:

• intensive psychotherapy,
• long treatment sessions,
• recruitment of vulnerable patient populations,
• purpose-built environments, and
• a highly trained, multidisciplinary workforce.

EMD is the only company in the world that has years of experience operating private, legally-authorised clinics delivering psychedelic therapy for mental health at commercial scale.

Which means EMD has the extremely rare combination of infrastructure and expertise ALREADY IN PLACE required to deliver psychedelic therapies safely and at scale.

You can see our Deep Dive article on this here: EMD: USA signs exec order to fast-track psychedelic medicine research and access. EMD is already doing it.

You can also check out EMD’s recent Investor Presentation here: Delivering the new paradigm in mental health care

What’s next for EMD?

Here is everything we are looking out for over the next few months from EMD:

• VIC clinic treatments commence - (Now Operating).
  
• NSW clinic treatments commence (post the current therapist recruitment drive, 7 psychiatrists confirmed for NSW training ahead of commencing).
  
• More payers - EMD is already working with Workcover Australia (including the Australian Federal Police's cohort, one of the highest PTSD-burden groups in the country). A third major payer after Medibank + the Department Of Veterans’ Affairs could also be a meaningful re-rate catalyst
  
• The BIG new one after the recent US news: Any US-facing deal. Given the Trump EO, this is the catalyst we were previously only hoping for - now we think it's a "when" more than an "if."