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InterCure Signs Definitive Agreement to Acquire Leon Cannabis Pharmacy Chain

Jan 31, 2024•almost 2 years ago

Acquiring Company

InterCure Ltd. (dba Canndoc)

Acquired Company

Leon Pharm Ltd

HerzliyaTel AvivPharmaceutical ManufacturingCannabisMedicalBiotechnologyHealth Care

Description

InterCure Ltd. (dba Canndoc), the leading medical cannabis company in Israel and outside of North America, has entered into a share purchase agreement with the shareholders of Leon Pharm Ltd. to purchase Leon Pharm, a leading, Israel-based pharmacy chain specializing in dispensing medical cannabis in Israel. This acquisition is consistent with InterCure's strategy of expanding its market-leading distribution network towards the new medical cannabis reform announced by the Israeli Ministry of Health and is expected to be accretive to the Company’s business model.

Company Information

Company

InterCure Ltd. (dba Canndoc)

Location

Herzliya, Tel Aviv, Israel

About

InterCure Ltd. (dba Canndoc) is the leading medical cannabis company in Israel and outside of North America. It is Israel’s largest licensed cannabis producer offering Good Manufacturing Practices (GMP) certified and pharmaceutical-grade medical cannabis products. Canndoc, a wholly owned subsidiary of InterCure, is the leading pharmacy chain for medical cannabis patients in Israel and worldwide. InterCure leverages its market leading distribution network, best in class international partnerships, and a high-margin vertically integrated 'seed-to-sale' model to lead the fastest growing cannabis global market outside of North America.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed