Medicure Announces Further Expansion of Its Pharmacy Business Through Signing of a Purchase Agreement for the Acquisition of West Olympia Pharmacy
Medicure Inc. (TSXV:MPH, OTC:MCUJF) has announced the signing of a definitive agreement to acquire West Olympia Pharmacy Inc. for USD $975,000 through its U.S. subsidiary, Medicure Pharma Inc. The acquisition target generated unaudited revenue of USD $6.8 million and net income of USD $325,000 for the 12-month period ended December 31, 2024.
The acquisition aligns with Medicure's strategic expansion of its direct-to-consumer pharmacy business, following their recent Gateway Pharmacy acquisition. The company aims to accelerate the growth of ZYPITAMAG® and other products, noting that direct-to-consumer sales improve patient access, medication adherence, and reduce distribution costs.
The transaction will be funded through existing cash without requiring financing or debt acquisition. 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 West Olympia Pharmacy Inc. per USD $975,000 tramite la sua sussidiaria statunitense, Medicure Pharma Inc. L'obiettivo dell'acquisizione ha generato ricavi non verificati di USD $6.8 milioni e un reddito netto di USD $325,000 per il periodo di 12 mesi terminato il 31 dicembre 2024.
L'acquisizione si allinea con l'espansione strategica di Medicure nel settore delle farmacie dirette al consumatore, dopo la recente acquisizione di Gateway Pharmacy. L'azienda mira ad accelerare la crescita di ZYPITAMAG® e di altri prodotti, sottolineando che le vendite dirette al consumatore migliorano l'accesso dei pazienti, l'aderenza ai farmaci e riducono i costi di distribuzione.
La transazione sarà finanziata attraverso liquidità esistente senza richiedere finanziamenti o acquisizioni di debito. La chiusura è soggetta a varie condizioni, inclusi il trasferimento di contratti e licenze a Medicure.
Medicure Inc. (TSXV:MPH, OTC:MCUJF) ha anunciado la firma de un acuerdo definitivo para adquirir West Olympia Pharmacy Inc. por USD $975,000 a través de su subsidiaria en EE. UU., Medicure Pharma Inc. El objetivo de la adquisición generó ingresos no auditados de USD $6.8 millones y un ingreso neto de USD $325,000 para el período de 12 meses que finalizó el 31 de diciembre de 2024.
La adquisición se alinea con la expansión estratégica de Medicure en su negocio de farmacia directa al consumidor, tras la reciente adquisición de Gateway Pharmacy. La empresa tiene como objetivo acelerar el crecimiento de ZYPITAMAG® y otros productos, señalando que las ventas directas al consumidor mejoran el acceso de los pacientes, la adherencia a la medicación y reducen los costos de distribución.
La transacción se financiará a través de efectivo existente sin requerir financiamiento o adquisición de deuda. El cierre está sujeto a diversas condiciones, incluido el traspaso de contratos y licencias a Medicure.
Medicure Inc. (TSXV:MPH, OTC:MCUJF)는 미국 자회사인 Medicure Pharma Inc.를 통해 West Olympia Pharmacy Inc.를 USD $975,000에 인수하기 위한 최종 계약을 체결했다고 발표했습니다. 인수 대상은 2024년 12월 31일로 종료되는 12개월 동안 USD $6.8 백만의 감사되지 않은 수익과 USD $325,000의 순이익을 기록했습니다.
이번 인수는 최근 Gateway Pharmacy 인수 이후 소비자 직접 판매 약국 사업의 전략적 확장과 일치합니다. 회사는 ZYPITAMAG® 및 기타 제품의 성장을 가속화할 계획이며, 소비자 직접 판매가 환자의 접근성을 개선하고 약물 복용 준수를 높이며 유통 비용을 줄인다고 언급했습니다.
거래는 자금 조달이나 부채 인수 없이 기존 현금을 통해 자금이 조달될 것입니다. 거래 완료는 Medicure에 대한 계약 및 라이센스의 이전을 포함한 여러 조건에 따라 달라집니다.
Medicure Inc. (TSXV:MPH, OTC:MCUJF) a annoncé la signature d'un accord définitif pour acquérir West Olympia Pharmacy Inc. pour USD $975,000 via sa filiale américaine, Medicure Pharma Inc. L'objectif d'acquisition a généré des revenus non audités de USD $6.8 millions et un bénéfice net de USD $325,000 pour la période de 12 mois se terminant le 31 décembre 2024.
L'acquisition s'inscrit dans l'expansion stratégique de Medicure dans le secteur des pharmacies directes aux consommateurs, suite à leur récente acquisition de Gateway Pharmacy. L'entreprise vise à accélérer la croissance de ZYPITAMAG® et d'autres produits, notant que les ventes directes aux consommateurs améliorent l'accès des patients, l'adhérence aux médicaments et réduisent les coûts de distribution.
La transaction sera financée par des liquidités existantes sans nécessiter de financement ou d'acquisition de dettes. 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 West Olympia Pharmacy Inc. für USD $975,000 über ihre US-Tochtergesellschaft, Medicure Pharma Inc., bekannt gegeben. Das Übernahmeziel erzielte im Zeitraum von 12 Monaten bis zum 31. Dezember 2024 nicht geprüfte Einnahmen von USD $6.8 Millionen und einen Nettogewinn von USD $325,000.
Die Übernahme passt zur strategischen Expansion von Medicure im Bereich der Direktvertriebsapotheken, nach der kürzlichen Übernahme von Gateway Pharmacy. Das Unternehmen zielt darauf ab, das Wachstum von ZYPITAMAG® und anderen Produkten zu beschleunigen und hebt hervor, dass der Direktvertrieb an Verbraucher den Zugang der Patienten verbessert, die Medikamenteneinnahme fördert und die Vertriebskosten senkt.
Die Transaktion wird aus vorhandenen Mitteln finanziert, ohne dass eine Finanzierung oder Schuldenaufnahme erforderlich ist. Der Abschluss unterliegt verschiedenen Bedingungen, einschließlich der Übertragung von Verträgen und Lizenzen an Medicure.
- Acquisition target has strong financials: USD $6.8M revenue and USD $325K net income
- Purchase price of USD $975K represents only 3x net income multiple
- No debt or external financing needed - funded with existing cash
- Strategic expansion of direct-to-consumer pharmacy business reduces distribution costs
- Acquisition expected to improve ZYPITAMAG sales and patient adherence
- Transaction closing subject to various conditions and regulatory approvals
- Integration risks with existing operations and recent Gateway Pharmacy acquisition
WINNIPEG, MB / ACCESS Newswire / April 11, 2025 / Medicure Inc. ("Medicure" or the "Company") (TSXV:MPH)(OTC PINK: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 April 10, 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 next acquisition further 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. "West Olympia has built a substantial customer base and we look forward to welcoming the West Olympia pharmacy team and its customers and prescribers. This expansion extends our growth in addition to our recent acquisition of Gateway Pharmacy 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 use existing cash and 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 West Olympia Pharmacy Inc.
Independently owned, West Olympia is located in West Olympia, Washington in a medical office complex near multiple clinics.
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 Transaction. 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, termination of the Agreement, the Company's future product revenues, expected results, 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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