Mednow Closes Acquisition of Infusicare Pharmacy

 

TORONTO, December 13, 2021Mednow Inc. (TSXV:MNOW)(OTCQB:MDNWF)(“Mednow” or the “Company”), Canada’s on-demand virtual pharmacy, is pleased to announce that further to its press release dated November 18, 2021, it has closed the acquisition of Infusicare Canada Inc. (“Infusicare“) for a cash payment of C$1.85M.

In its latest fiscal year, Infusicare generated C$9.3M in revenue and C$400,000 in gross profit from selling prescription medications and support services to its patients.

Mednow Inc. (TSXV:MNOW)(OTCQB:MDNWF)(“Mednow” or the “Company”) continues to achieve its vision of connecting all people of Canada with access to amazing care, through the acquisition of Infusicare” said Karim Nassar, Chief Executive Officer of Mednow Inc. (TSXV:MNOW)(OTCQB:MDNWF)(“Mednow” or the “Company”). “Adding Infusicare, a specialty pharmacy offering biologic drugs, compliments our approach to accelerating our strategy of full-service offerings through both organic development and mergers and acquisitions. Specialty pharmacy will integrate well into our digital pharmacy which offers unique medication adherence solutions in addition to mental health support, epigenetic testing, and men’s wellness”.

 

Mednow Inc. (TSXV:MNOW)(OTCQB:MDNWF) aims to continue adding and growing services to its platform that change the way healthcare is delivered to patients.

Biologic Drugs

Biologic drugs are genetically engineered proteins that target specific parts of the immune system that fuel inflammation. Presently, biologic drugs are one of the fastest-growing pharmaceutical product segments in Canada. The high cost of biologic drugs, with treatment costs ranging from thousands to tens of thousands of dollars per year per patient, as well as their continued growth in usage, have contributed to a significant increase in pharmaceutical expenditure.1

There has been a significant shift in pharmaceutical sales towards biological drugs over the last decade. Whereas only one biologic drug made the list of the ten top-selling patented pharmaceutical products in 2006, biologic drugs accounted for seven products on this list in 2017 representing 42% of patented medicine sales in Canada.2

As Amir Ali Reyany-Bozorg and Felipe Campusano are directors of the Company, and each are also shareholders of Infusicare, the transaction contemplated under the Share Purchase Agreement (the “Transaction“), constitutes a related party transaction under Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (“MI 61-101“). The Company is exempt from the formal valuation and minority shareholder approval requirements imposed by MI 616-101 pursuant to the exemptions in section 5.5(a) and 5.7(a) of MI 61-101, as neither the fair market value of the Shares, nor the consideration paid therefor, exceeds 25% of the Company’s market capitalization.

About Mednow Inc.

Mednow Inc. (TSXV:MNOW)(OTCQB:MDNWF)(“Mednow” or the “Company”) is a healthcare technology company offering virtual access with exceptional care. Designed with access and quality care in mind, Mednow.ca provides virtual pharmacy and telemedicine services, as well as doctor home visits, with convenience and through an interdisciplinary approach to healthcare that is focused on the patient experience. Mednow’s Inc. (TSXV:MNOW)(OTCQB:MDNWF)(“Mednow” or the “Company”) services include free at-home delivery of medications, a user-friendly interface for easy upload, transfer, and refill of prescriptions, access to healthcare professionals through an intuitive chat experience, a specialized PillSmart™ system that packages prescriptions and vitamins by date and time, and doctor consultations.

To learn more, follow Mednow’s Inc. (TSXV:MNOW)(OTCQB:MDNWF)(“Mednow” or the “Company”) on LinkedIn, Twitter, Facebook, and Instagram, as well as visit www.mednow.ca/.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements:

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including without limitation, the expectation that Infusicare’s specialty pharmacy will be integrated with the Company’s digital pharmacy platform, the expectation that the Company will continue to grow and add to its platform, and the expectation that the acquisition of Infusicare will bolster Mednow’s Inc. (TSXV:MNOW)(OTCQB:MDNWF) expertise in biologic drugs are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including that the Company will be able to integrate Infusicare’s specialty pharmacy with the Company’s digital pharmacy platform, that the Company will continue to grow and add to its platform, and that the acquisition of Infusicare will bolster Mednow’s expertise in biologic drugs. These forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary, include, without limitation, that the Company is not able to integrate Infusicare’s specialty platform with the Company’s digital pharmacy platform, that the Company does not continue to grow and add to its platform, and that the acquisition of Infusicare will not bolster Mednow’s expertise in biologic drugs. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.

SOURCE Mednow Inc. (TSXV:MNOW)(OTCQB:MDNWF)

[BONUS-POPUP id=”1″]

Please See Disclaimer


Disclosure:

1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on research and understanding of the sector.

2) The Article was issued on behalf of and sponsored by, Mednow Inc. Market Jar Media Inc. has or expects to receive from Mednow Inc.’s Digital Marketing Agency of Record (Native Ads Inc.) three hundred seventy nine thousand CAD for 52 days (37 business days).

3) Statements and opinions expressed are the opinions of the author and not Market Jar Media Inc., its directors or officers. The author is wholly responsible for the validity of the statements. The author was not paid by Market Jar Media Inc. for this Article. Market Jar Media Inc. was not paid by the author to publish or syndicate this Article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Market Jar Media Inc. requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Market Jar Media Inc. relies upon the authors to accurately provide this information and Market Jar Media Inc. has no means of verifying its accuracy.

4) The Article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of the information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Market Jar Media Inc.'s terms of use and full legal disclaimer as set forth here. This Article is not a solicitation for investment. Market Jar Media Inc. does not render general or specific investment advice and the information on WealthyMillionaire.com should not be considered a recommendation to buy or sell any security. Market Jar Media Inc. does not endorse or recommend the business, products, services or securities of any company mentioned on WealthyMillionaire.com.

5) Market Jar Media Inc. and its respective directors, officers and employees hold no shares for any company mentioned in the Article.

6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management's expectations regarding Mednow Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Mednow Inc.’s industry; (b) market opportunity; (c) Mednow Inc.’s business plans and strategies; (d) services that Mednow Inc. intends to offer; (e) Mednow Inc.’s milestone projections and targets; (f) Mednow Inc.’s expectations regarding receipt of approval for regulatory applications; (g) Mednow Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Mednow Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Mednow Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Mednow Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Mednow Inc.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) Mednow Inc.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Mednow Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Mednow Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Mednow Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Mednow Inc.’s business operations (e) Mednow.ca may be unable to implement its growth strategy; and (f) increased competition.

Except as required by law, Mednow Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Mednow Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Mednow Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Mednow Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Mednow Inc. or such entities and are not necessarily indicative of future performance of Mednow Inc. or such entities.