TORONTO – MediPharm Labs Corp. terminated the previously announced sale of its facility in Napanee, Ontario, to Kensana Health Inc., which was to be completed through the sale of the company’s wholly-owned subsidiary ABcann Medicinals Inc. to Kensana Health pursuant to the terms of a share purchase agreement.
Kensana Health did not meet certain agreed-upon terms and conditions within the timelines set out in the purchase agreement. MediPharm Labs will retain certain non-refundable deposits received from Kensana Health.
MediPharm Labs’ current, commercial agreements and operations at the Napanee facility are expected to continue without disruption.
“Growing our profitable international revenue was a critical element of our success in 2024. We will continue to use the Napanee facility to capitalize on international opportunities in 2025,” said David Pidduck, MediPharm’s CEO.
About MediPharm Labs
Founded in 2015, MediPharm Labs specializes in the development and manufacture of purified, pharmaceutical-quality cannabis concentrates, active pharmaceutical ingredients (API) and advanced derivative products utilizing a GMP-certified facility with ISO standard-built clean rooms. MediPharm Labs has invested in an expert, research driven team, state-of-the-art technology, downstream purification methodologies and purpose-built facilities for delivery of pure, trusted and precision-dosed cannabis products for its customers. MediPharm Labs develops, formulates, processes, packages, and distributes cannabis and advanced cannabinoid-based products to domestic and international medical markets.
