Business
Cosmos Health Enters into LOI to Acquire $11,500,000 Pharmacy Distribution Network; Remains on Track to Deliver 2027 Revenue Guidance of $155,800,000
CHICAGO, Ill., March 10, 2026 (GLOBE NEWSWIRE) -- Cosmos Health Inc. ("Cosmos Health" or the “Company”) (NASDAQ:COSM), a diversified, vertically integrated
About this update from Cosmos Health Inc.
[{"type":"text","content":"CHICAGO, Ill., March 10, 2026 (GLOBE NEWSWIRE) -- Cosmos Health Inc. (\"Cosmos Health\" or the “Company”) (NASDAQ:COSM), a diversified, vertically integrated global healthcare group, today announced that it has entered into a Letter of Intent (“LOI”), through its wholly owned subsidiary CosmoFarm S.A. (“CosmoFarm”), with respect to the acquisition of an extensive pharmacy distribution network from an established pharmaceutical company serving the Greek market for almost 40 years. The term of the LOI is ninety (90) days from March 6, 2026. The network currently generates approximately €10 million (approximately $11.5 million based on the prevailing EUR/USD exchange rate) in annual gross revenue and serves a broad base of pharmacy customers, supplying both pharmaceutical and para-pharmaceutical products. The acquisition is expected to expand CosmoFarm’s commercial reach and strengthen its distribution footprint. Once integrated into CosmoFarm’s automated logistics platform, which utilizes advanced robotic technologies for procurement, inventory management, and order execution, the network is expected to benefit from improved operating efficiencies and enhanced service levels for pharmacies. This transaction, which remains subject to the execution of the acquisition agreement containing the customary closing conditions, forms part of the Company’s broader strategy to reach the revenue target for 2027 outlined in its previously announced guidance of $155.8 million. Cosmos Health intends to achieve this objective through a combination of organic growth across its core operating segments and a disciplined acquisition strategy designed to expand its distribution footprint, enhance operating scale, and drive profitability. Greg Siokas, CEO of Cosmos Health, stated: \"This proposed bolt-on acquisition aligns directly with our strategy of strengthening our core pharmaceutical distribution platform. By expanding our pharmacy network and leveraging our automated infrastructure, we expect to increase scale, improve operating efficiencies, and support continued revenue growth and profitability. We remain focused on disciplined execution and pursuing accretive transactions that create long-term shareholder value. We are actively evaluating additional opportunities and remain confident in our ability to reach the revenue targets set for 2027 un...