MediPharm Labs Announces Termination of the Proposed Sale of Napanee Facility to Kensana Health
MediPharm Labs (TSX: LABS, OTCQX: MEDIF) has announced the termination of the previously planned sale of its Napanee Facility to Kensana Health. The termination occurred because Kensana Health failed to meet certain agreed-upon terms and conditions within specified timelines. Under the Purchase Agreement terms, MediPharm will retain certain non-refundable deposits from Kensana Health.
The company confirms that current commercial agreements and operations at the Napanee Facility will continue without disruption. MediPharm reports increasing demand for their international B2B GMP services at both Barrie and Napanee facilities, citing profitable international revenue growth in 2024. The company plans to continue utilizing the Napanee Facility to pursue international opportunities in 2025.
MediPharm Labs (TSX: LABS, OTCQX: MEDIF) ha annunciato la cessazione della precedente vendita programmata del proprio Stabilimento di Napanee a Kensana Health. La cessazione è avvenuta perché Kensana Health non ha rispettato alcuni termini e condizioni concordati entro i tempi stabiliti. In base ai termini dell'Accordo di Acquisto, MediPharm trattenrà alcuni depositi non rimborsabili da Kensana Health.
L'azienda conferma che gli attuali accordi commerciali e le operazioni presso lo Stabilimento di Napanee continueranno senza interruzioni. MediPharm riporta un aumento della domanda per i propri servizi internazionali B2B GMP sia presso gli stabilimenti di Barrie che di Napanee, citando una crescita redditizia dei ricavi internazionali nel 2024. L'azienda prevede di continuare a utilizzare lo Stabilimento di Napanee per perseguire opportunità internazionali nel 2025.
MediPharm Labs (TSX: LABS, OTCQX: MEDIF) ha anunciado la terminación de la venta previamente planificada de su Instalación de Napanee a Kensana Health. La terminación se produjo porque Kensana Health no cumplió con ciertos términos y condiciones acordados dentro de los plazos establecidos. Según los términos del Acuerdo de Compra, MediPharm retendrá ciertos depósitos no reembolsables de Kensana Health.
La empresa confirma que los actuales acuerdos comerciales y las operaciones en la Instalación de Napanee continuarán sin interrupciones. MediPharm informa sobre un aumento en la demanda de sus servicios internacionales B2B GMP en las instalaciones de Barrie y Napanee, citando un crecimiento rentable de los ingresos internacionales en 2024. La empresa planea continuar utilizando la Instalación de Napanee para buscar oportunidades internacionales en 2025.
MediPharm Labs (TSX: LABS, OTCQX: MEDIF)가 나파니 시설을 켄사나 헬스에 판매하기로 한 이전 계획을 종료한다고 발표했습니다. 종료는 켄사나 헬스가 특정 합의된 조건과 항목을 지정된 시간 내에 충족하지 못했기 때문에 발생했습니다. 구매 계약 조건에 따라 MediPharm은 켄사나 헬스의 일부 환불 불가능한 보증금을 유지할 것입니다.
회사는 나파니 시설의 현재 상업적 계약 및 운영이 중단 없이 계속될 것이라고 확인했습니다. MediPharm은 바리와 나파니 두 시설에서의 국제 B2B GMP 서비스에 대한 수요 증가를 보고하며, 2024년에는 수익성이 있는 국제 매출 성장을 언급했습니다. 이 회사는 2025년에 국제 기회를 추구하기 위해 나파니 시설을 계속 활용할 계획입니다.
MediPharm Labs (TSX: LABS, OTCQX: MEDIF) a annoncé la résiliation de la vente précédemment prévue de son site de Napanee à Kensana Health. La résiliation est intervenue parce que Kensana Health n'a pas respecté certaines conditions convenues dans les délais impartis. Selon les termes de l'Accord d'Achat, MediPharm conservera certains dépôts non remboursables de Kensana Health.
L'entreprise confirme que les accords commerciaux actuels et les opérations au site de Napanee se poursuivront sans interruption. MediPharm rapporte une demande croissante pour ses services internationaux B2B GMP tant dans ses installations de Barrie que de Napanee, citant une croissance rentable des revenus internationaux en 2024. L'entreprise prévoit de continuer à utiliser le site de Napanee pour poursuivre des opportunités internationales en 2025.
MediPharm Labs (TSX: LABS, OTCQX: MEDIF) hat die Beendigung des zuvor geplanten Verkaufs seiner Napanee-Anlage an Kensana Health bekannt gegeben. Die Beendigung erfolgte, da Kensana Health bestimmte vereinbarte Bedingungen und Verpflichtungen innerhalb der festgelegten Fristen nicht einhalten konnte. Gemäß den Bedingungen des Kaufvertrags wird MediPharm bestimmte nicht rückzahlbare Anzahlungen von Kensana Health einbehalten.
Das Unternehmen bestätigt, dass die aktuellen kommerziellen Vereinbarungen und Betriebsabläufe in der Napanee-Anlage ohne Unterbrechung fortgesetzt werden. MediPharm berichtet von einer steigenden Nachfrage nach ihren internationalen B2B GMP-Dienstleistungen in den Anlagen in Barrie und Napanee und verzeichnet ein profitables internationales Umsatzwachstum im Jahr 2024. Das Unternehmen plant, die Napanee-Anlage weiterhin zu nutzen, um internationale Möglichkeiten im Jahr 2025 zu verfolgen.
- Company retains non-refundable deposits from failed transaction
- Increasing demand for international B2B GMP services
- Profitable international revenue growth in 2024
- Operations continue without disruption at Napanee Facility
- Failed facility sale transaction with Kensana Health
- Inability to monetize Napanee Facility assets through planned sale
The Company has given notice of termination as required under the Purchase Agreement, as Kensana Health did not meet certain agreed upon terms and conditions within the timelines set out therein. Pursuant to the terms of the Purchase Agreement, MediPharm Labs will retain certain non-refundable deposits received from Kensana Health. For further details regarding the Transaction, please see the Company's press releases dated December 17, 2024 and January 16, 2025.
MediPharm Labs' current, commercial agreements and operations at the Napanee Facility, are expected to continue without disruption.
MediPharm's experience in highly regulated global markets and unique suite of internationally recognized licenses has positioned the Company as a partner of choice to bring Canadian products to international markets. We are seeing increasing demand for our international Business to Business ("B2B") GMP services in both
"Growing our profitable international revenue was a critical element of our success in 2024. We will continue to use the Napanee Facility to capitalize on international opportunities in 2025" said David Pidduck, CEO of MediPharm Labs.
About MediPharm Labs
Founded in 2015, MediPharm Labs specializes in the development and manufacture of purified, pharmaceutical-quality cannabis concentrates, active pharmaceutical ingredients (API) and advanced derivative products utilizing a GMP-certified facility with ISO standard-built clean rooms. MediPharm Labs has invested in an expert, research driven team, state-of-the-art technology, downstream purification methodologies and purpose-built facilities for delivery of pure, trusted and precision-dosed cannabis products for its customers. MediPharm Labs develops, formulates, processes, packages, and distributes cannabis and advanced cannabinoid-based products to domestic and international medical markets.
In 2021, MediPharm Labs received a Pharmaceutical Drug Establishment License from Health Canada, becoming the only company in North America to hold a commercial-scale domestic Good Manufacturing Practices License for the extraction of multiple natural cannabinoids. This GMP license was the first step in the Company's current foreign drug manufacturing site registration with the US FDA.
In 2023, MediPharm acquired VIVO Cannabis Inc., which expanded MediPharm's reach to medical patients in Canada via Canna Farms medical ecommerce platform, and in Australia and Germany through Beacon Medical Australia PTY Ltd. and Beacon Medical Germany GMBH. This acquisition also included Harvest Medical Clinics in Canada which provides medical cannabis patients with Physician consultations for medical cannabis education and prescriptions.
The Company carries out its operations in compliance with all applicable laws in the countries in which it operates.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate to, among other things: the Company's ability to continue operations without disruption at the Napanee Facility; the Company's ability to grow profitable international revenue; the Company's ability to use the Napanee Facility to capitalize on international opportunities in 2025; and the long term outlook of the business and future success of the Company. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; the delay or failure in receiving regulatory approvals; and other factors discussed in MediPharm Labs' continuous disclosure filings, available on the SEDAR+ website at www.sedarplus.ca. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, MediPharm Labs assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.
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SOURCE MediPharm Labs Corp.
FAQ
Why did MediPharm Labs (MEDIF) terminate the Napanee Facility sale to Kensana Health?
Will MediPharm Labs (MEDIF) keep the deposits from the terminated Napanee sale?
How will the terminated sale affect MediPharm Labs' (MEDIF) Napanee operations?
What are MediPharm Labs' (MEDIF) plans for the Napanee Facility in 2025?
How did MediPharm Labs' (MEDIF) international revenue perform in 2024?
