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Health House bolsters UK distribution

23 August 2021
ASX: HHI
Rueben Hale
A worker trims cannabis at the growing facility

Health House International will balloon its medical cannabis presence in the UK after inking an exclusive deal with Smartway Pharmaceuticals.

Fresh from swallowing up Europe-focused CanPharma, the company plans to leverage Smartway’s local knowledge and good standing with regulatory authorities to import and supply cannabis-based products using Health House’s supply network.

HHI said the deal marks another step in its pursuit of rapid market share growth in the burgeoning global medicinal cannabis market.

“This agreement between Health House and Smartway will combine the strengths of each party in ensuring that healthcare professionals in the UK and ultimately, their patients have broad access to the very best cannabis-based medicines from all over the world,” chief executive David Attwood said.

Smartway said the deal would enable a quick pathway to market products through more than 1000 UK pharmacies and a  global supply network spanning over 100 countries.

“Smartway is a global leader in designing and delivering ethical and compliant access programs for products not yet licenced in a country,” Smartway chief executive Josh Cocklin said.

The company’s Australian Stock Exchange-listed shares had risen 5.26 per cent, trading at 10c today (8:30 am GMT+ 8 hours)

COMPANY OVERVIEW

Health House International Limited (formerly VPCL Limited) is an ASX listed international distributor of medicinal cannabis and was founded to pursue opportunities in the burgeoning global medicinal cannabis market, which in March 2021 completed a reverse takeover after successfully raising $3.5 million under a public offer. Since 2014, the Board and founding shareholders of the Company have been pioneers in the medicinal cannabis sector establishing a number of publicly-listed companies including AusCann Group, Zelira Therapeutics and CannPal Animal Therapeutics.

COMPANY INFORMATION

ASX: HHI

Website

https://healthhouse.com.au/
https://www2.asx.com.au/markets/company/hhi

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