Mednow Inc (TSX-V:MNOW, OTCQB:MDNWF) CEO Karim Nassar tells Proactive it has made a C$500,000 investment in Doko Medical Inc for a foothold in the US telemedicine and pharmacy services market.
Nassar says the investment initiates Mednow’s entry into the US telemedicine and pharmacy services where it has the ability to benefit from the growing demands of these industries.
What's more, Mednow intends to acquire all of the issued and outstanding shares of Infusicare, a specialty pharmacy based in London, Ontario, for about C$1.9 million in cash. Nassar said Infusicare generated C$9.3 million in revenue and C$400,000 in gross profit in its last fiscal year.