Zelira Therapeutics Ltd (ASX: ZLD) (OTCQB:ZLDAF) is acquiring Health House International Limited (ASX: HHI), Benzinga has learned exclusively.
The acquisition will allow Zelira, a global leader in the research and development of cannabinoid medicines, to strengthen its distribution capabilities across Europe.
“The acquisition of Health House is a key development in Zelira’s global expansion strategy across Europe on several key levels,” says Zelira CEO Dr. Oludare Odumosu. “Not only will we have access to the highly regulated European cannabis markets as well as GMP manufacturing facilities, but will be able to substantially expand our capabilities for clinical trials and validation of our medical cannabinoid products.”
Health House is an international distributor of medicinal cannabis and holds a number of strategic licenses to store, distribute, import, export and sell controlled drugs, with supply agreements in place with several pharmaceutical-grade Good Manufacturing Practice (GMP) certified manufacturers and producers of high-quality medicinal cannabis products. Additionally, Health House owns a medicinal cannabis consultancy in the EU, with online services available in six languages that provide patient consultancy activities, and educational training to health care professionals.
