Medicure Announces Expansion of Its Pharmacy Business Through Signing of a Purchase Agreement for the Acquisition of Gateway Medical Pharmacy
Medicure Inc. (TSXV:MPH)(OTC:MCUJF) has announced the signing of a definitive agreement to acquire Gateway Medical Pharmacy Inc. through its U.S. subsidiary, Medicure Pharma Inc. The agreement, signed on February 14, 2025, represents a strategic expansion of Medicure's direct-to-consumer pharmacy business.
Gateway generated unaudited revenue of approximately $3.1 million and net income of $271,000 for the 12-month period ended December 31, 2024. The acquisition aims to enhance Medicure's ZYPITAMAG® distribution, improve patient access, increase medication adherence, and reduce distribution costs.
The transaction requires no financing or debt acquisition by Medicure, and no finder fees will be paid. The closing is subject to various conditions, including the transfer of agreements and licenses to Medicure.
Medicure Inc. (TSXV:MPH)(OTC:MCUJF) ha annunciato la firma di un accordo definitivo per acquisire Gateway Medical Pharmacy Inc. attraverso la sua filiale statunitense, Medicure Pharma Inc. L'accordo, firmato il 14 febbraio 2025, rappresenta un'espansione strategica del business di farmacie dirette al consumatore di Medicure.
Gateway ha generato ricavi non verificati di circa $3,1 milioni e un reddito netto di $271.000 per il periodo di 12 mesi conclusosi il 31 dicembre 2024. L'acquisizione mira a potenziare la distribuzione di ZYPITAMAG® di Medicure, migliorare l'accesso dei pazienti, aumentare l'aderenza ai farmaci e ridurre i costi di distribuzione.
La transazione non richiede finanziamenti o acquisizioni di debito da parte di Medicure, e non saranno pagate commissioni di intermediazione. La chiusura è soggetta a varie condizioni, tra cui il trasferimento di contratti e licenze a Medicure.
Medicure Inc. (TSXV:MPH)(OTC:MCUJF) ha anunciado la firma de un acuerdo definitivo para adquirir Gateway Medical Pharmacy Inc. a través de su filial estadounidense, Medicure Pharma Inc. El acuerdo, firmado el 14 de febrero de 2025, representa una expansión estratégica del negocio de farmacias directas al consumidor de Medicure.
Gateway generó ingresos no auditados de aproximadamente $3.1 millones y una ganancia neta de $271,000 para el período de 12 meses que finalizó el 31 de diciembre de 2024. La adquisición tiene como objetivo mejorar la distribución de ZYPITAMAG® de Medicure, mejorar el acceso de los pacientes, aumentar la adherencia a la medicación y reducir los costos de distribución.
La transacción no requiere financiamiento ni adquisición de deuda por parte de Medicure, y no se pagarán honorarios de intermediación. El cierre está sujeto a diversas condiciones, incluido el traspaso de acuerdos y licencias a Medicure.
Medicure Inc. (TSXV:MPH)(OTC:MCUJF)는 미국 자회사인 Medicure Pharma Inc.를 통해 Gateway Medical Pharmacy Inc. 인수에 대한 최종 계약 체결을 발표했습니다. 2025년 2월 14일에 서명된 이 계약은 Medicure의 소비자 직접 약국 비즈니스의 전략적 확장을 나타냅니다.
Gateway는 2024년 12월 31일로 종료된 12개월 동안 약 $3.1 백만의 감사되지 않은 수익과 $271,000의 순이익을 생성했습니다. 이번 인수는 Medicure의 ZYPITAMAG® 유통을 강화하고, 환자의 접근성을 개선하며, 약물 복용 순응도를 높이고, 유통 비용을 줄이는 것을 목표로 하고 있습니다.
이 거래는 Medicure가 자금을 조달하거나 부채를 인수할 필요가 없으며, 중개 수수료도 지불되지 않습니다. 거래 완료는 Medicure에 대한 계약 및 라이센스 이전을 포함한 다양한 조건에 따라 달라집니다.
Medicure Inc. (TSXV:MPH)(OTC:MCUJF) a annoncé la signature d'un accord définitif pour acquérir Gateway Medical Pharmacy Inc. par l'intermédiaire de sa filiale américaine, Medicure Pharma Inc. L'accord, signé le 14 février 2025, représente une expansion stratégique de l'activité de pharmacie directe au consommateur de Medicure.
Gateway a généré des revenus non vérifiés d'environ 3,1 millions de dollars et un bénéfice net de 271 000 dollars pour la période de 12 mois se terminant le 31 décembre 2024. L'acquisition vise à améliorer la distribution de ZYPITAMAG® de Medicure, à améliorer l'accès des patients, à augmenter l'adhésion aux médicaments et à réduire les coûts de distribution.
La transaction ne nécessite aucun financement ni acquisition de dettes par Medicure, et aucune commission d'intermédiaire ne sera versée. La clôture est soumise à diverses conditions, y compris le transfert d'accords et de licences à Medicure.
Medicure Inc. (TSXV:MPH)(OTC:MCUJF) hat die Unterzeichnung eines endgültigen Vertrags zur Übernahme von Gateway Medical Pharmacy Inc. durch ihre US-Tochtergesellschaft Medicure Pharma Inc. angekündigt. Der am 14. Februar 2025 unterzeichnete Vertrag stellt eine strategische Erweiterung des Direktvertriebs von Apotheke zu Verbraucher für Medicure dar.
Gateway erzielte im Zeitraum von 12 Monaten bis zum 31. Dezember 2024 einen nicht testierten Umsatz von etwa 3,1 Millionen US-Dollar und einen Nettogewinn von 271.000 US-Dollar. Die Übernahme zielt darauf ab, die Verteilung von ZYPITAMAG® von Medicure zu verbessern, den Patienten Zugang zu erleichtern, die Medikamenteneinnahme zu erhöhen und die Vertriebskosten zu senken.
Die Transaktion erfordert keine Finanzierung oder Schuldenübernahme durch Medicure, und es werden keine Vermittlungsgebühren gezahlt. Der Abschluss unterliegt verschiedenen Bedingungen, einschließlich der Übertragung von Verträgen und Lizenzen an Medicure.
- Gateway generated $3.1 million in revenue and $271,000 in net income for 2024
- No debt or financing required for the acquisition
- No finder fees being paid, reducing transaction costs
- Expected to improve ZYPITAMAG distribution efficiency and reduce costs
- Transaction closing subject to multiple conditions and regulatory approvals
WINNIPEG, MB / ACCESS Newswire / February 18, 2025 / Medicure Inc. ("Medicure" or the "Company") (TSXV:MPH)(OTC:MCUJF), a company focused on the development and commercialization of pharmaceuticals and healthcare products for patients and prescribers in the United States market, today announced that through its wholly-owned U.S. subsidiary, Medicure Pharma Inc., it has signed a definitive agreement on February 14, 2025 to acquire
Closing of the Proposed Transaction is subject to a number of terms and conditions, including but not limited to, transfer of agreements and licenses to Medicure.
"This acquisition aligns with Medicure's strategic plan for the expansion of Medicure's direct-to-consumer pharmacy business," said Albert D. Friesen, Chief Executive Officer of Medicure and Chair of its Board of Directors. "We look forward to welcoming the Gateway pharmacy team and its customers and prescribers. This expansion extends our best-in-class service offering to more patients and positions Medicure to accelerate its growth of ZYPITAMAG® and its other products and services. Selling ZYPITAMAG directly to consumers through our pharmacy business has proven to facilitate access, improve adherence, lower the cost to patients, and lower our costs of distribution."
Medicure will not require any financing or acquire any debt as part of the Proposed Transaction, and no finder fees are being paid by Medicure.
All dollars are Canadian dollars unless otherwise noted.
About Medicure Inc.
Medicure is a company focused on the development and commercialization of pharmaceuticals and healthcare products for patients and prescribers in the United States market. The present focus of the Company is the marketing and distribution of AGGRASTAT® (tirofiban hydrochloride) injection and ZYPITAMAG® (pitavastatin) tablets in the United States, where they are sold through the Company's U.S. subsidiary, Medicure Pharma Inc. Medicure also operates Marley Drug Inc. ("Marley Drug®"), a pharmacy subsidiary servicing all 50 states, Washington D.C. and Puerto Rico. Marley Drug® is committed to improving access to medications for all Americans together with exceptional customer service and free home delivery. For more information visit www.marleydrug.com. For more information about Medicure please visit www.medicure.com. For additional information about AGGRASTAT®, please visit www.aggrastat.com or refer to the full Prescribing Information. For additional information about ZYPITAMAG®, please visit www.zypitamag.com or refer to the full Prescribing Information.
About Gateway Medical Pharmacy Inc.
Independently owned, Gateway is located in Portland, Oregon in a medical office building near major transportation lines and multiple healthcare clinics and centers. In addition to regular customers, the pharmacy services multiple long-term care facilities and provides non-sterile compounding services.
To be added to Medicure's e-mail list, please visit:
http://medicure.mediaroom.com/alerts
Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information: Statements contained in this press release that are not statements of historical fact, including, without limitation, statements containing the words "believes", "may", "plans", "will", "estimates", "continues", "anticipates", "intends", "expects" and similar expressions, may constitute "forward-looking information" within the meaning of applicable Canadian and U.S. federal securities laws (such forward-looking information and forward-looking statements are hereinafter collectively referred to as "forward-looking statements"). Forward-looking statements, include estimates, analysis and opinions of management of the Company made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors which the Company believes to be relevant and reasonable in the circumstances. More particularly and without limitation, this press release contains forward-looking statements and information regarding the completion of the Proposed Transaction, the acquisition of the Assets by Medicure and the ability of the new chemical compounds acquired to provide improvements over existing lead compounds. Except as may be required by Canadian securities laws, the Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Inherent in forward-looking statements are known and unknown risks, uncertainties and other factors beyond the Company's ability to predict or control that may cause the actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements, and as such, readers are cautioned not to place undue reliance on forward-looking statements. Such risk factors include, among others, failure of the parties to satisfy the conditions for the completion of the Proposed Transaction, termination of the Agreement, the Company's future product revenues, expected results, including future revenue from P5P, the likelihood of receiving a priority review voucher from the United State Food and Drug Administration, expected future growth in revenues, stage of development, additional capital requirements, risks associated with the completion and timing of clinical trials and obtaining regulatory approval to market the Company's products, the ability to protect its intellectual property, dependence upon collaborative partners, changes in government regulation or regulatory approval processes, and rapid technological change in the industry. Such statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to, assumptions about: general business and economic conditions; the impact of changes in Canadian-US dollar and other foreign exchange rates on the Company's revenues, costs and results; the timing of the receipt of regulatory and governmental approvals for the Company's research and development projects; the availability of financing for the Company's commercial operations and/or research and development projects, or the availability of financing on reasonable terms; results of current and future clinical trials; the uncertainties associated with the acceptance and demand for new products and market competition. The foregoing list of important factors and assumptions is not exhaustive. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements or the foregoing list of factors, other than as may be required by applicable legislation. Additional discussion regarding the risks and uncertainties relating to the Company and its business can be found in the Company's other filings with the applicable Canadian securities regulatory authorities or the US Securities and Exchange Commission, and in the "Risk Factors" section of its current Form 20F.
AGGRASTAT® (tirofiban hydrochloride) injection, ZYPITAMAG® (pitavastatin) tablets, and Marley Drug® are registered trademarks.
For more information, please contact:
Dr. Albert D. Friesen
Chief Executive Officer
Tel. 888-435-2220
Fax 204-488-9823
E-mail: info@medicure.com
www.medicure.com
SOURCE: Medicure Inc.
View the original press release on ACCESS Newswire
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