Leading European Medicinal Cannabis Company Kanabo Buys National GP Online Service to Improve Last Mile for Patients
22 Febrero 2022 - 12:48AM
Business Wire
- Help available for conditions including chronic pain,
anxiety and central nervous system diseases
- Ability to deliver electronic prescription across the UK to
more than 4,000 pharmacies
- All GPs are in the UK and registered with the GMC
Kanabo, the European medicinal cannabis company focusing on the
development and distribution of cannabis-derived products for
medical patients and wellness CBD consumers, has purchased The GP
Service (GPS), one of the leading private telemedicine and online
primary healthcare service providers in the UK.
The deal, announced Monday, is worth £14m. Patients can, for a
set price of £39.99, get an appointment with a UK registered GP
within half an hour and then get a prescription sent to one of
4,200 pharmacies within an hour for £7.49.
A well as the purchase, Kanabo announced that it has
successfully completed a £2.25 million fundraising via the
company's broker, Peterhouse Capital Limited.
Kanabo’s acquisition of The GP Service will facilitate the rapid
growth of the existing GP digital and telemedicine business and
will establish a new and fully compliant channel to market for
Kanabo’s products for medical patients. Through improved access to
these products, Kanabo hopes to make a substantial contribution to
improving outcomes for thousands of patients in the UK and
Europe.
GPS is an approved provider on the NHS digital framework for
video and online consultations and is able to able to
electronically deliver prescriptions to a network of 4,200
pharmacies including major high street chains and independent
pharmacies.
It provides online GP video consultation services to corporate
clients as an occupational health service for employers as well as
pharmacies.
Kanabo, the first medicinal cannabis company to IPO on the LSE,
intends to develop The GP Service platform to become one of
Europe’s first digitally-led and legally compliant providers for
Kanabo’s products and wellness CBD services following regulatory
approval.
The use of telemedicine has tremendous benefits for patients and
has already been accelerated by the COVID-19 pandemic. The global
telemedicine market is forecast to grow by 23% to $14.9 billion by
2024, and the UK market for private virtual GP services is
estimated to be worth approximately £1 billion.
All the Doctors contracted by The GP Service are UK registered
with the General Medical Council and all pharmacies are affiliated
with the services provided by the GP Service are also UK based and
registered with the General Pharmaceutical Council.
Avihu Tamir, founder and CEO of Kanabo, said:
“Today’s acquisition of the GP Service is part of our strategy to
use M&A alongside organic growth to build a pan-European
company, and to offer help to millions of consumers and medical
patients for conditions including chronic pain, anxiety and central
nervous system diseases.
“We are very much looking forward to working with the highly
skilled team at GP Service to support the growth of their business
in the rapidly growing tele-medicine market in the UK and
beyond.”
Atul Devani, CEO of the GP Service added: “The GP Service
was incorporated with the aim of offering patients an innovative
and cost-effective solution to access primary healthcare services
conveniently and efficiently. We have invested heavily in our core
systems and technologies to provide patients with treatment or
advice following a remote video or with a GMC Registered Doctor and
have successfully built one of the leading primary care
telemedicine companies in the UK. With further support and
investment from Kanabo we look forward to expanding our core
service to cover a range of other medical conditions and further
enhance our electronic prescription offerings in the coming months
across a number of territories.”
About Kanabo Group Plc
Kanabo Group Plc is creating a new standard in the medical
cannabis industry to improve the well-being of millions of people
around the world by providing a better alternative to the smoking
of medicinal cannabis flowers. Kanabo, which was the first
medicinal cannabis company to IPO on London Stock Exchange, has a
focus on the distribution of cannabis-derived products for medical
patients and non-THC products for CBD consumers. It has conducted
extensive Research & Development to produce high-quality
cannabis extract formulas, innovative medical-grade vaporizers, and
various non-smoking consumption solutions. Kanabo sells a range of
medical cannabis products and wellness CBD products in the Primary
Markets, including its VapePod, which delivers a metered dose with
every inhalation.
About GPS
The GP Service (UK) Limited (GPS) was incorporated with the aim
of offering Patients an innovative and cost-effective solution to
access healthcare services conveniently and efficiently. GPS’s core
solution is to provide Patients with treatment or advice following
a remote video or with a General Medical Council (GMC) Registered
Doctor. The Services can be from the web using a PC or Tablet
device or through a GPS iPad device in their local office.
For more information please email info@kanabogroup.com /
adam@message-media.co.uk
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Dan Walsh dan@mustardpr.com
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