Kanabo, European leader in medicinal cannabis, buys national online service for general practitioners to improve the last mile for patients

  • Help available for conditions such as chronic pain, anxiety and central nervous system diseases

  • Ability to dispense electronic prescriptions across the UK to over 4,000 pharmacies

  • All GPs are in the UK and registered with the GMC

LONDON, February 22, 2022–(BUSINESS WIRE)–Kanabo, the European medicinal cannabis company focused on the development and distribution of cannabis-derived products for medical patients and wellness CBD consumers, has purchased The GP Service (GPS), the a leading private provider of telemedicine services and online primary healthcare services in the UK.

The deal, announced on Monday, is worth £14million. Patients can, for a fixed price of £39.99, get an appointment with a licensed GP in the UK within half an hour and then have a prescription sent to one of 4,200 pharmacies around the hour for £7.49.

In addition to the purchase, Kanabo announced that it had completed a £2.25 million fundraising through 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 establish a new, fully compliant marketing channel for Kanabo’s products for medical patients. Through increased 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 issue prescriptions electronically to a network of 4,200 pharmacies, including large retail 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 go public on the LSE, intends to develop The GP Service platform to become one of Europe’s leading providers of CBD-led wellness products and services. by digital and compliant with Kanabo law after regulatory approval.

The use of telemedicine has enormous benefits for patients and has already been accelerated by the COVID-19 pandemic. The global telemedicine market is expected to grow by 23% to $14.9 billion by 2024, and the UK market for private virtual GP services is estimated at around £1 billion.

All doctors under contract with The GP Service are registered in the UK with the General Medical Council and all pharmacies affiliated with the services provided by The GP Service are also based in the UK and registered with the General Pharmaceutical Council.

Avihou Tamir, founder and CEO of Kanabonoted: “Today’s acquisition of GP Service is part of our strategy to use mergers and acquisitions alongside organic growth to create a pan-European company and to provide help to millions of consumers and medical patients with chronic pain. , anxiety and diseases of the central nervous system.

“We very much look forward to working with the highly skilled team at GP Service to support the growth of their business in the rapidly growing telemedicine market in the UK and beyond.

Atul Devani, CEO of GP Service added: “The GP service was formed with the goal of providing patients with an innovative and cost-effective solution to access primary healthcare services in a convenient and efficient manner. We have invested heavily in our core systems and technologies to provide patients treatment or advice over video or remotely with a GMC approved doctor and have successfully built one of the leading primary care telemedicine companies in the UK.With further support and investment from Kanabo, we We look forward to expanding our core service to cover a range of other medical conditions and further enhancing our e-prescribing offerings in the coming months in 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 consuming medical cannabis flowers. Kanabo, which was the first medicinal cannabis company to list on the London Stock Exchange, focuses on distributing cannabis-derived products for medical patients and THC-free products for CBD consumers. It has conducted extensive research and 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 and wellness CBD products in primary markets, including its VapePod, which delivers a metered dose with each puff.

About GPS

The GP Service (UK) Limited (GPS) was formed with the aim of providing patients with an innovative and cost effective solution to access healthcare services conveniently and efficiently. GPS’s basic solution is to provide patients with treatment or advice following video remotely or with a General Medical Council (GMC) licensed doctor. Services can be delivered over the web using a PC or tablet or via an iPad GPS device in their local office.

For more information please email [email protected] / [email protected]

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220221005452/en/

contacts

Dan Walsh
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