Medipharm, located in Holon, sells medical cannabis directly to customers including directly to patients' homes via their website.
The acquisition of Medipharm is a step in Univo's strategy of becoming an independent company with complete control over the production chain of medical cannabis, from growing farms through production and distribution to delivery. Univo distributes in over 140 pharmacies, including ones belonging to Super-Pharm and BE chains.
"As a leading company in the medical cannabis market, we achieved the complete control over the value chain from pharmacy to the end consumer by purchasing a leading pharmacy and thus deepening the connection with our patients," CEO and founder of Univo Golan Bitton said in a statement.
"We anticipate that the acquisition of Medipharm will enable the company to show growth in revenue and profits and increase market share. In addition, our control over the entire value chain allows us maximum operational flexibility and price flexibility required in the cannabis market while maintaining profitability. We continue to examine additional collaborations in Israel and abroad to create added value for our shareholders."
Israel legalized medical cannabis in the early 1990s, and arrived in pharmacies in 2018. Super-Pharm outlets began selling cannabis oil in cities throughout the country from two Israeli suppliers.