Curaleaf International part of Curaleaf Holdings(OTCQX: CURLF) (TSX:CURA) is buying Can4Med, a prominent pharmaceutical wholesaler specializing in cannabinoid medications in Poland. Curaleaf had noted in its last MD&A that it planned to continue investing internationally, to expand its vertically integrated presence in major medical-use markets across Europe and best position itself to benefit from the potential legalization of adult-use across the European continent. Curaleaf did not tell investors how much it paid for the company and whether the acquisition was paid for in cash or stocks.
“This acquisition represents a significant step forward for Curaleaf International. Poland’s medical cannabis market is expanding rapidly, and our partnership with Can4Med allows us to better serve patients while driving growth across Europe,” said Matt Darin, CEO of Curaleaf.
In Germany, Curaleaf supplies medical cannabis on a wholesale basis to pharmacies and to other distributors. It also supplies medical cannabis to private importers of its products. All international, non-cannabis revenues are derived from wholesale transactions in Spain, the U.K., Switzerland and Germany.
According to the Curaleaf statement, Poland boasts one of Europe’s largest patient populations seeking medical cannabis; by joining forces with Can4Med, Curaleaf International gains a strong foothold in this dynamic market, allowing it to serve patients more effectively and expand its product offerings.
“We are thrilled that Can4med, a pioneering force in Poland’s cannabis market, has joined forces with Curaleaf, the global leader in cannabis. This acquisition marks a significant milestone in our journey, ensuring an unparalleled supply chain that positions us to meet and exceed the demands of the entire Polish market. Partnering with Curaleaf not only reinforces our commitment to quality and accessibility but also signifies a new era of growth and possibilities for both companies and our customers,” said Maximilian Weinberg, founder of Can4med.
Curaleaf also noted that the Polish Pharmaceutical Chamber estimates that the potential number of medical cannabis users could reach 300,000, while the number of legal cannabis users (both medical and CBD) is expected to reach 1.3 million by 2026.
The company also stated in its MD&A released in November 2023 that it has presented 19 research abstracts across both the International Cannabinoid Research Society 2023 conferences and the British Pain Society National Meeting, of which 14 contained outcomes from the Registry. It has a total of 11 studies submitted for peer review at present, with the majority of these expected to be published between November 2023 and early 2024.
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