Aurora Cannabis Inc. has acquired Internode Pharma Limited and HAP Pharma Limited for £2.1 million in cash. The transaction gives Aurora ownership of a licensed import and distribution facility and a virtual pharmacy in Birmingham, United Kingdom. This acquisition provides Aurora with direct control of the supply chain from cultivation through delivery to patients in the UK.
The acquisition marks a strategic milestone for Aurora as it expands its leadership in the international medical cannabis market, according to Miguel Martin, Executive Chairman and Chief Executive Officer of Aurora. The company purchased 100% of the shares of both companies through a wholly-owned subsidiary.
Acquisition Details
The payment is contingent on the satisfaction of certain post-closing conditions. The transaction is expected to contribute to adjusted EBITDA in future quarters through operational efficiencies and reduced reliance on third-party distributors. Aurora operates in medical and consumer markets across Canada, Europe, Australia, and New Zealand, and maintains GMP-certified manufacturing facilities in Canada and Germany.
