Business
Medicure Announces Expansion of Its Pharmacy Business Through Signing of a Purchase Agreement for the Acquisition of Gateway Medical Pharmacy
WINNIPEG, MB / ACCESS Newswire / February 18, 2025 / Medicure Inc. (" Medicure " or the " Comp...
About this update from Medicure Inc.
[{"type":"text","content":"Medicure Announces Expansion of Its Pharmacy Business Through Signing of a Purchase Agreement for the Acquisition of Gateway Medical Pharmacy 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 100% of Gateway Medical Pharmacy Inc. (\"Gateway\") from an arms-length third-party (the \"Proposed Transaction\"). Gateway generated unaudited revenue of approximately $3.1 million and net income of $271,000 for the 12-month period ended December 31, 2024.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...