Business
Medicure Announces Further Expansion of Its Pharmacy Business Through Signing of a Purchase Agreement for the Acquisition of West Olympia Pharmacy
WINNIPEG, MB / ACCESS Newswire / April 11, 2025 / Medicure Inc. (" Medicure " or the " Company...
About this update from Medicure Inc.
[{"type":"text","content":"Medicure Announces Further Expansion of Its Pharmacy Business Through Signing of a Purchase Agreement for the Acquisition of West Olympia PharmacyWINNIPEG, 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 100% of West Olympia Pharmacy Inc. (\"West Olympia\") from an arms-length third-party (the \"Proposed Transaction\") for a purchase price of USD $975,000. West Olympia generated unaudited revenue of approximately USD $6.8 million and net income of USD $325,000 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 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) ...