Cosmos Health Inc. - COSM STOCK NEWS

Cosmos Health Inc. (NASDAQ:COSM) announced its fiscal year 2022 results, reporting revenues of $50.3 million, a decline from $56.2 million in FY2021 primarily due to foreign exchange variations. However, on a constant currency basis, revenue growth was noted at 0.71%. The company achieved positive Adjusted EBITDA of $0.5 million and significantly improved its financial position, ending 2022 with approximately $21 million in cash and long-term debt reduced by 76% to $5.1 million. Cosmos raised $56.5 million from equity offerings and warrant exercises. Amid market challenges, the CEO praised the company's strong performance and outlined plans for growth through acquisitions, including Cana Laboratories and ZipDoctor, enhancing the company’s vertical integration and entry into telehealth.

Cosmos Health (Nasdaq:COSM) announced its participation in The Economist Annual New York-Eastern Mediterranean Business Summit on July 10th, 2023, at the Lotte Palace, New York. CEO Greg Siokas will deliver a speech, partake in a Q&A, and engage in discussions about investment opportunities in the Eastern Mediterranean. The summit aims to explore the region's business potential with prominent speakers from the US, Israel, Greece, and Cyprus. Attendees include executives from various industries and institutional investors. This event highlights Cosmos Health's commitment to innovation, product development, and international expansion.

Cosmos Health Inc. (Nasdaq:COSM) has announced the completion of its acquisition of ZipDoctor, Inc. from American International Holdings Corp. This acquisition positions Cosmos Health in the growing telehealth market, projected to expand from $23.8 billion in 2021 to $309.9 billion by 2030, with a CAGR of 45.1%. ZipDoctor offers subscription-based telemedicine services, providing 24/7 access to healthcare professionals. Cosmos aims to enhance ZipDoctor's services and explore further innovations and partnerships to broaden its market reach.

Cosmos Health Inc. (Nasdaq:COSM) announced that its UK subsidiary, Decahedron Ltd., has been recognized as "Pharmaceutical Wholesaler of the Month" in the Mar/Apr 2023 issue of Healthcare Matters. Established in 2011, Decahedron Ltd. specializes in the import and export of pharmaceutical products across the EEA. The feature highlights Cosmos Health's Sky Premium Life brand, which offers over 75 nutraceutical products tailored for diverse dietary needs. CEO Greg Siokas noted the honor reflects the company's commitment to operational excellence and marketing innovations. Decahedron has expanded its product promotions globally, participating in key health exhibitions.

Cosmos Health (Nasdaq:COSM) announced on March 17, 2023, that it has signed a definitive agreement to acquire ZipDoctor Inc. from American International Holdings Corp. The acquisition aims to enhance Cosmos Health's presence in the rapidly growing telehealth market, projected to expand from $23.8 billion in 2021 to $309.9 billion by 2030, with a CAGR of 45.1%. ZipDoctor provides a subscription-based telemedicine service offering 24/7 access to healthcare professionals. The transaction is set to close on April 3, 2023, and is expected to support Cosmos Health's goal to broaden ZipDoctor's healthcare services, including mental health and wellness treatments.

Cosmos Health (Nasdaq:COSM) announced a definitive agreement with Pharmaceutical Laboratories CANA S.A., a Greek pharmaceutical company, following a Binding Letter of Intent dated July 19, 2022. Cosmos injected €4.1 million into Cana on February 28, 2023, strengthening its balance sheet to facilitate future growth. This transaction aims to enhance vertical integration, expand the product portfolio, and accelerate growth plans, including entering new business segments. Cana, established in 1928, offers a diverse range of pharmaceutical products and operates an EU-licensed production facility. The Stock Purchase Agreement is expected to conclude by March 31, 2023.

Cosmos Health Inc. (Nasdaq: COSM) has entered the final stages of acquiring ZipDoctor Inc., a telemedicine platform, from American International Holdings Corp.. This acquisition aims to enhance Cosmos Health's portfolio by providing 24/7 access to healthcare professionals through a subscription model. ZipDoctor will serve U.S. customers with both English and Spanish virtual visits. The U.S. telehealth market is projected to grow significantly, from $23.8 billion in 2021 to $309.9 billion by 2030, with a CAGR of 45.1%. The acquisition aligns with Cosmos' strategy to expand its healthcare services, particularly in telehealth.

Cosmos Health (Nasdaq:COSM) has extended its non-binding letter of intent (LOI) to acquire ZipDoctor Inc., a telemedicine platform, from American International Holdings Corp until February 24, 2023. ZipDoctor provides direct-to-consumer telemedicine services, offering 24/7 access to certified physicians and mental health professionals across the U.S.

The telehealth market is projected to grow from $23.8 billion in 2021 to $309.9 billion by 2030, driven by a shortage of healthcare professionals. Cosmos plans to expand ZipDoctor's service offerings, enhancing its competitive position in this rapidly growing sector.

Cosmos Health Inc. (NASDAQ: COSM) has announced its first purchase order for the distribution of Virax Biolabs' COVID-19 and Influenza A+B Antigen Combo Rapid Detection Kits. The agreement grants Cosmos exclusive distribution rights for Greece and Cyprus and the opportunity to expand distribution across Europe. The single-use test kit offers a qualitative detection method for COVID-19 and Influenza A+B from nasal swab specimens. CEO Greg Siokas expressed optimism about meeting the strong demand for quick testing solutions in these regions and emphasized the company's solid financial position to build strategic partnerships.