Aurora Cannabis, the Canadian-based leading global medical cannabis company, has acquired Internode Pharma, a licensed importer and wholesaler and HAP Pharma, a licensed pharmacy.
Strategic rationale
• The UK is one of the largest European medical cannabis markets, representing a population of approximately 70 million people.
• The Companies operate a licensed import and distribution facility and a virtual pharmacy in Birmingham, United Kingdom, providing Aurora with direct ownership and control of the supply chain from cultivation through to delivery to patients.
• Aurora intends to leverage its commercial, regulatory and operational expertise to streamline distribution and drive market share gains in the rapidly growing UK medical cannabis market.
• This transaction is expected to be accretive to adjusted EBITDA contributions in future quarters due to operational efficiencies and reduced reliance on third parties to distribute Aurora’s products to patients.
• Aurora intends to evaluate further investment opportunities to expand distribution capacity in the UK to support increasing patient demand.
