Better Choice Company Signs Binding Letter of Intent to Acquire Choice Specialty Pharmacy, Expanding U.S. Presence
Better Choice Company (NYSE American: BTTR) has signed a binding Letter of Intent to acquire Choice Specialty Pharmacy Group, a specialized pharmacy services provider in the U.S. The acquisition price will be based on 6X of Choice Specialty's FY2024 Adjusted EBITDA of approximately $4.68 million, paid through a combination of stock and cash.
Founded in 2015, Choice Specialty Pharmacy Group operates across multiple states, providing specialty pharmacy services, infusion clinic services, and maintains a sterile compounding facility. This strategic move will expand Better Choice's presence in the U.S. market and complement their existing SRx platform in Canada.
The acquisition aligns with Better Choice's strategy to establish itself as a prominent healthcare services company in North America, leveraging operational synergies and best practices from both organizations.
Better Choice Company (NYSE American: BTTR) ha firmato una lettera di intenti vincolante per acquisire Choice Specialty Pharmacy Group, un fornitore di servizi farmaceutici specializzati negli Stati Uniti. Il prezzo di acquisizione sarà basato su 6 volte l'EBITDA rettificato di Choice Specialty per l'anno fiscale 2024, pari a circa 4,68 milioni di dollari, pagato attraverso una combinazione di azioni e contante.
Fondata nel 2015, Choice Specialty Pharmacy Group opera in diversi stati, fornendo servizi farmaceutici specializzati, servizi di clinica di infusione e mantenendo un impianto di preparazione sterile. Questa mossa strategica espanderà la presenza di Better Choice nel mercato statunitense e completerà la loro piattaforma SRx esistente in Canada.
L'acquisizione si allinea con la strategia di Better Choice di affermarsi come un'importante azienda di servizi sanitari in Nord America, sfruttando le sinergie operative e le migliori pratiche di entrambe le organizzazioni.
Better Choice Company (NYSE American: BTTR) ha firmado una carta de intención vinculante para adquirir Choice Specialty Pharmacy Group, un proveedor de servicios farmacéuticos especializados en los EE. UU. El precio de adquisición se basará en 6 veces el EBITDA ajustado de Choice Specialty para el año fiscal 2024, aproximadamente 4.68 millones de dólares, pagado a través de una combinación de acciones y efectivo.
Fundada en 2015, Choice Specialty Pharmacy Group opera en varios estados, proporcionando servicios farmacéuticos especializados, servicios de clínicas de infusión y mantiene una instalación de preparación estéril. Este movimiento estratégico expandirá la presencia de Better Choice en el mercado estadounidense y complementará su plataforma SRx existente en Canadá.
La adquisición se alinea con la estrategia de Better Choice para establecerse como una empresa destacada de servicios de salud en América del Norte, aprovechando las sinergias operativas y las mejores prácticas de ambas organizaciones.
베터 초이스 컴퍼니 (NYSE American: BTTR)는 미국의 전문 약국 서비스 제공업체인 초이스 스페셜티 약국 그룹을 인수하기 위한 구속력 있는 의향서를 체결했습니다. 인수 가격은 초이스 스페셜티의 2024 회계연도 조정 EBITDA 약 468만 달러의 6배를 기준으로 하며, 주식과 현금의 조합으로 지급됩니다.
2015년에 설립된 초이스 스페셜티 약국 그룹은 여러 주에서 운영되며, 전문 약국 서비스, 주입 클리닉 서비스 제공 및 무균 조제 시설을 유지하고 있습니다. 이 전략적 움직임은 베터 초이스의 미국 시장 내 입지를 확장하고 캐나다에 있는 기존 SRx 플랫폼을 보완할 것입니다.
이번 인수는 베터 초이스가 북미에서 주요 의료 서비스 회사로 자리 잡기 위한 전략과 일치하며, 두 조직 간의 운영 시너지와 모범 사례를 활용할 것입니다.
Better Choice Company (NYSE American: BTTR) a signé une lettre d'intention contraignante pour acquérir Choice Specialty Pharmacy Group, un fournisseur de services pharmaceutiques spécialisés aux États-Unis. Le prix d'acquisition sera basé sur 6 fois l'EBITDA ajusté de Choice Specialty pour l'exercice financier 2024, soit environ 4,68 millions de dollars, payé par une combinaison d'actions et de liquidités.
Fondée en 2015, la Choice Specialty Pharmacy Group opère dans plusieurs États, fournissant des services pharmaceutiques spécialisés, des services de clinique d'infusion et maintient une installation de préparation stérile. Ce mouvement stratégique élargira la présence de Better Choice sur le marché américain et complétera leur plateforme SRx existante au Canada.
L'acquisition s'inscrit dans la stratégie de Better Choice de se positionner comme une entreprise de services de santé de premier plan en Amérique du Nord, en tirant parti des synergies opérationnelles et des meilleures pratiques des deux organisations.
Better Choice Company (NYSE American: BTTR) hat ein verbindliches Letter of Intent unterzeichnet, um Choice Specialty Pharmacy Group, einen Anbieter von spezialisierten Apothekendienstleistungen in den USA, zu erwerben. Der Kaufpreis wird auf 6-fache des bereinigten EBITDA von Choice Specialty für das Geschäftsjahr 2024 von etwa 4,68 Millionen Dollar basieren und durch eine Kombination aus Aktien und Bargeld bezahlt.
Gegründet im Jahr 2015, operiert die Choice Specialty Pharmacy Group in mehreren Bundesstaaten und bietet spezialisierte Apothekendienstleistungen, Infusionsklinikdienste an und betreibt eine sterile Rezeptur. Dieser strategische Schritt wird die Präsenz von Better Choice auf dem US-Markt erweitern und ihre bestehende SRx-Plattform in Kanada ergänzen.
Die Akquisition steht im Einklang mit der Strategie von Better Choice, sich als bedeutendes Unternehmen im Gesundheitsdienstleistungssektor in Nordamerika zu etablieren und betriebliche Synergien sowie Best Practices beider Organisationen zu nutzen.
- Acquisition adds approximately $4.68 million in Adjusted EBITDA
- Expands geographic presence into U.S. market
- Gains sterile compounding facility capabilities
- Operational synergies expected through integration with existing Canadian operations
- Stock dilution expected due to partial payment in shares
- Integration costs and risks associated with cross-border operations
TAMPA, Fla., March 11, 2025 (GLOBE NEWSWIRE) -- Better Choice Company, Inc. (NYSE American: BTTR) (“Better Choice” or the “Company”), a pet health and wellness company, today announced that it has signed a binding Letter of Intent (LOI) to acquire
"With the addition of Choice Specialty Pharmacy Group alongside our SRx platform in Canada, we are now executing on our strategy to build a healthcare services company with significant market share in North America. Additionally, with the closing of Choice Specialty we will now have a sterile compounding facility in the U.S. and are well positioned to capitalize on strong industry tailwinds, leverage best practices of both companies and realize operating efficiencies," said Michael Young, Chairman of Better Choice. "This marks an exciting step in our expansion strategy, and we look forward to further growing our presence in the U.S. market."
Founded in 2015, Choice Specialty Pharmacy Group is a fully licensed provider across multiple states, offering a range of services including specialty pharmacy, infusion clinic services, and a sterile compounding facility. The acquisition strengthens Better Choice’s commitment to becoming a leading North American healthcare services provider, offering high-quality patient care across borders.
About Better Choice Company Inc.
Better Choice Company Inc. is a rapidly growing pet health and wellness company committed to leading the industry shift toward pet products and services that help dogs and cats live healthier, happier, and longer lives. We take an alternative, nutrition-based approach to pet health relative to conventional dog and cat food offerings and position our portfolio of brands to benefit from the mainstream trends of growing pet humanization and consumer focus on health and wellness. We have a demonstrated, multi-decade track record of success selling trusted pet health and wellness products and leverage our established digital footprint to provide pet parents with the knowledge to make informed decisions about their pet’s health. We sell our dog food, cat food and treats under the Halo brand, which is focused on providing sustainably sourced kibble and canned food derived from real whole meat, and minimally processed raw-diet food and treats. For more information, please visit https://www.betterchoicecompany.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Further information on the Company’s risk factors is contained in our filings with the SEC. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
| (1) | Adjusted EBITDA is a non-GAAP measure of unaudited calendar year 2024 results. The Company expects to receive audited results from the seller post the closing of the option purchase agreement. | |
Company Contact:
Better Choice Company, Inc.
Kent Cunningham, CEO
Investor Contact:
KCSA Strategic Communications
Valter Pinto, Managing Director
T: 212-896-1254
Valter@KCSA.com
FAQ
What is the purchase price for Better Choice Company's acquisition of Choice Specialty Pharmacy?
What services does Choice Specialty Pharmacy Group offer that BTTR will acquire?
How will the Choice Specialty Pharmacy acquisition expand BTTR's market presence?
When was Choice Specialty Pharmacy Group founded and what is its operational scope?
