MediPharm Labs Corp. has announced the sale of its Napanee facility to Kensana Health Inc. in a $5.5 million deal, as part of a strategic move to streamline operations. Kensana Health will acquire MediPharm’s subsidiary, ABcann Medicinals, which includes the facility’s license, building, land, and equipment.
The agreement also establishes a partnership between the companies, leveraging MediPharm’s Good Manufacturing Practices (GMP) capabilities to enhance its international reach. Kensana will supply select products to support MediPharm’s global brands.
The sale aligns with MediPharm’s focus on operational efficiency and strengthens its cash position to fund future growth. Kensana plans to use the facility to advance its FDA registration for a chronic wound treatment showing promising trial results.
The deal is expected to close by January 1, 2025, pending approvals. Both companies see this transaction as a step toward expanding their global presence in the phytopharmaceutical sector.
Written by Emily Chatwood
