Cosmos Holdings 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.