Business News Australia reports…. Cannabis producer THC Global (ASX: THC) will further diversify its business with a $3 million acquisition of clinic operator Tetra Health.

Apparently Tetra Health have 1,100 active Australian patients and a list of 10,000 prospective patients.

We’d love to know the exact definition of a “prospective patient”. Something that is not defined in the press release.

Why are they doing this?

That’s simply answered they have a product line to flog…

THC intends to introduce its Canndeo line of medicine for prescription by Tetra physicians once it becomes available in the coming weeks.

 

The problem is when you actually go to the Canndeo site the user can’t actually find any particular product or “medicine” line.

Just some very vague information that says the following

Types of Medicinal Cannabis

Medicinal cannabis is commonly provided in several different forms:

  • Dried flower
  • Oils
  • Tablets and capsules
  • Sprays

How a medicinal cannabis product is taken changes the level of cannabinoids in the body (bioavailability). Ingested medicinal cannabis (e.g. oil, tablet, capsule) generally results in low bioavailability and takes longer to act, but its therapeutic effects last longer. Because of this, ingested products are more suitable for managing chronic conditions. On the other hand, medicinal cannabis that is absorbed directly into the blood stream (e.g. inhaler, suppository, oral spray) leads to higher bioavailability and acts faster, but its therapeutic effects are short lived. These products are more suited for conditions that require fast relief, such as break-through pain.

A discussion with your doctor will help determine which method of administration is more suitable for managing your condition.

Take a look at the Canndeo site by clicking on the image below

 

At which point we give up and refer you to the standard perennially cheerful press release from the land of vague which, we presume, is designed to encourage people out there to invest in THC Global. Here at CLR we’ll just wait the 6 months  for flights to re-open to San Francisco and pop into Harborside dispensaries for our medical cannabis rather than try and work our way through this maze of confusion.

 

The Full Press Release as re-written by Business News Australia

Post-acquisition THC will gain access to Tetra’s network of medical practitioners comprising more than 600 referring physicians, 30 prescribing physicians and a national network of dispensing pharmacies.

Tetra currently has more than 1,100 active Australian patients and a list of 10,000 prospective patients

According to THC Global CEO Ken Charteris, the acquisition will enable the company to gain direct access to new patients for its medicinal cannabis.

“Through this acquisition, we will be able to rapidly increase the number of Australian patients that can access cannabis, including our own high-quality low patient cost products,” says Charteris.

“Going forward, we will look to further broaden the current network and potentially expand across the Tasman and other regions. THC Global believes this acquisition will deliver exceptional value to our shareholders.”

The acquisition is worth $3 million in total, comprising $2.5 million in THC shares issued to the current owners of Tetra Health – Canadian pharmaceutical company Meta Growth Corp (TSXV: META) and Barcoo Holdings – plus $500,000 in cash paid post-acquisition.

According to THC, Tetra will remain a product-agnostic solution for patients and medical professionals seeking to access cannabis in Australia.

The company’s doctors currently prescribe products from other ASX-listed cannabis companies including Althea (ASX: AGH), MGC Pharma (ASX: MXC), Little Green Pharma (ASX: LGP), and Medlab (ASX: MDC).

THC intends to introduce its Canndeo line of medicine for prescription by Tetra physicians once it becomes available in the coming weeks.

https://www.businessnewsaus.com.au/articles/thc-global-acquires-cannabis-clinic-network-for–3-million.html