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Submitted URL: https://t.dripemail2.com/c/eyJhbGciOiJIUzI1NiJ9.eyJhdWQiOiJkZXRvdXIiLCJpc3MiOiJtb25vbGl0aCIsInN1YiI6ImRldG91cl9saW5rIiwia...
Effective URL: https://biopharmaapac.com/news/81/4355/aurora-cannabis-expands-global-footprint-with-acquisition-of-medreleaf-australia.ht...
Submission: On February 11 via api from DE — Scanned from DE
Effective URL: https://biopharmaapac.com/news/81/4355/aurora-cannabis-expands-global-footprint-with-acquisition-of-medreleaf-australia.ht...
Submission: On February 11 via api from DE — Scanned from DE
Form analysis
5 forms found in the DOMGET /search/
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Name: loginForm — POST /login/
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Name: registrationForm — POST /registration/
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Name: forgotPasswordForm — POST /forgot-password/
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<span class="cd-error-message is-visible" id="forgot-pass-email-error" style="display: none;">Error message here!</span>
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<p></p>
<p class="fieldset">
<input class="full-width has-padding" type="submit" value="Reset password">
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Text Content
* 11 February, 2024 | Sunday * Virtual event * BioPharma APAC * BioJobs * BioResources * Media Pack * Special Report * Login * * BioPharma Pharma & Biopharma Manufacturing Pharma Research Pharma QC Clinical Trials Drug Discovery Drug Approval BioSimilar Pharma Packaging * LAB LAB Business LAB Health & Safety LAB Products LAB Design LAB Testing * LifeScience Biotech Biologics BioSimilar Clinical & Diagnostic Emerging Biotech Vaccines BioChemicals Cell & Gene * Contract Services Contract Research Clinical Research Contract Manufacturing Methods Development Pre-Clinical Outsourcing * Bio Digital Digital Health Digital CRO’s Health CIO Digital Innovation Artificial Intelligence Patent * Medtech Med’s Industry Medical Devices Medical Diagnostic * Bio Marketing Bio Jobs * Bio Special WhitePaper Product in Action Premium Article BioInvest Bio Informatics Webinar MasterControl Resource Centre * Bio Insight Bio Analysis Bio Feature Bio Reports Bio-Interaction BioReosurces * Consumer Health Healthcare Fertility Endocrinology Neurology Cancer / Immunology Cancer / Oncology COVID19 Mental Health Diabetes Nutraceutical & Supplement Medicine * Countries Australia New Zealand South Korea Japan Malaysia Thailand Singapore Indonesia India China Taiwan Hongkong Vietnam SAARC Countries SEA Countries EMEA (Middle East & Africa) North America Europe World * Countries * Australia * Aurora Cannabis Expands Global Footprint with Acquisition of MedReleaf Australia AURORA CANNABIS EXPANDS GLOBAL FOOTPRINT WITH ACQUISITION OF MEDRELEAF AUSTRALIA 09 February 2024 | Friday | News -------------------------------------------------------------------------------- Aurora Cannabis Inc., a leading global medical cannabis company, has solidified its position as the largest player in the global medical cannabis market by acquiring MedReleaf Australia, a subsidiary of Indica Industries Pty Ltd. This strategic move, announced on February 8, 2024, sees Aurora further strengthening its foothold in nationally legal cannabis markets. Image Source : Public Domain MedReleaf Australia, holding the coveted #2 spot in the rapidly growing Australian medical cannabis market, was acquired by Aurora in a transaction valued at AUD$50 million. This acquisition marks Aurora's continued commitment to investing in markets with sustainable and profitable growth opportunities. Australia's medical cannabis market, estimated to be worth approximately AUD$400 million, operates under a clinician-led distribution model, aligning perfectly with Aurora's operational success in other key global medical cannabis markets such as Germany. Since initially partnering with MedReleaf Australia in 2017, Aurora has played a pivotal role in the region's burgeoning growth, leveraging its pharmaceutical-grade cultivation and innovative product development. Miguel Martin, Chief Executive Officer of Aurora Cannabis, expressed his enthusiasm for the acquisition, stating, "The acquisition of MedReleaf Australia represents a strategic milestone in Aurora's global cannabis leadership. We are excited to solidify our position in this rapidly growing market and accelerate our plans to deliver positive free cash flow in calendar 2024." The co-founders of MedReleaf Australia, Russell Harding and Nathan Davis, echoed Martin's sentiments, expressing pride in the company's growth and the positive impact it has had on patients' lives nationwide. They see the acquisition as a significant step in MedReleaf Australia's ongoing expansion and its mission to integrate medical cannabis into mainstream medicine. The acquisition of MedReleaf Australia is expected to bolster Aurora's global cannabis leadership, leveraging its strength in providing pharmaceutical-grade cannabis products and expanding margins in the Australian market. With MedReleaf Australia generating approximately AUD$40 million in net revenue over the trailing 12 months, Aurora anticipates immediate accretive effects from the transaction, supporting its path to profitability and positive free cash flow in calendar 2024. Transaction Details: Aurora, through its wholly-owned subsidiary, acquired approximately 90% equity interest in MedReleaf Australia at a total enterprise value of AUD$50 million. The consideration includes approximately 69.5 million Aurora Shares issued to selling shareholders and AUD$9.45 million in cash. Certain portions of the consideration are held in escrow to ensure the fulfillment of obligations by the selling shareholders. 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Find your Job at Eppendorf News Editor Picks IQVIA Experts Share Perspectives on Challenges, Opportunities, and the Transformative Role of DCTs in Asia Pacific Examining Financial Ruin, Advocating for Change, and Fostering Collaboration in Cancer Care Economics Across the Asia Pacific Region Roche's Ying Ying Yeoh Explores the Power of Public-Private Partnerships in Shaping Healthcare's Future in Asia Pacific STAY CONNECTED Subscribe Sign up to our free newsletter and get the latest news sent direct to your inbox * About us * Advertise with us * Contact the Editor -------------------------------------------------------------------------------- For more information please contact communications@biopharmaapac.com © 2024 BioPharma APAC. All rights reserved. Website Terms | Privacy Notice | Cookie Statement * Sign In * Sign Up Email Password Show Forgot your password? First Name Last Name Email Id Password Show Confirm Password Show Lost your password? Please enter your email address. 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