Devonian Announces Acquisition of Altius Healthcare

Devonian Health Group (TSXV:GSD), a clinical stage botanical pharmaceutical corporation, is pleased to announce that it has entered into an agreement for the acquisition of all of the issued and outstanding shares of Altius Healthcare, a corporation governed by the Business Corporation Act (Ontario) that owns and operates the business of producing, importing, marketing and distributing branded and generic medicines.

As quoted in the press release:

Altius’ current portfolio is comprised of two pharmaceutical drugs. Aggregate revenues of these two pharmaceuticals grew from $2.4 million to $9.7 million for the fiscal year ended December 31^st of 2015 and 2016 respectively. For the period of nine-month ended on September 30^th, 2017, aggregate revenues totaled $5.2 million. Altius consented and agreed to provide the Corporation with audited financial statements (the “Financial Statements”) to be filed with the regulatory authorities at the closing date. The Acquisition is expected to close on or before March 7^th, 2018.

Click here to read the full press release.