Pathway Health (TSX-V:PHC) Corp announced that it has entered into a letter of intent to acquire the operating assets of National Cannabinoid Clinics Inc (NCC).
The acquisition of NCC's operating assets adds approximately 1,500 active patients to the company's existing base and continues to expand the telemedicine footprint in Canada.
Management expects to close the transaction in the second quarter of fiscal 2022.
READ: Pathway Health adds more physicians to its flagship Silver Pain Centre in Toronto
"The potential tuck-in acquisition of NCC's operating assets will continue to expand the number of patients across Canada that have access to our products and services," said Ken Yoon, CEO of Pathway Health (TSX-V:PHC).
Yoon added: "We believe using cannabinoids for medical purposes is in its infancy in Canada and with our strong partnership position with some of the largest Canadian retail pharmacy corporations, we are well-positioned for the cannabinoid-based health products opportunity."
Pathway Health (TSX-V:PHC) is an integrated healthcare company that provides products and services to patients suffering from chronic pain and related conditions.
The company owns and operates nine community-based clinics across four provinces where its team of health professionals work together to help patients through a variety of evidence-based approaches and products, including medical cannabis.
Pathway Health's patient care programs utilize an interdisciplinary approach that is guided by trained pain specialists, physical and occupational therapists, psychologists, nurses, and other healthcare providers.
Contact Ritika at ritika@proactiveinvestors.com