Better Choice Company and SRx Health to Host Shareholder Update Call on October 15th

Rhea-AI Summary

Better Choice Company (NYSE: BTTR) and SRx Health Solutions Inc. will host a shareholder update call on October 15, 2024 at 4:30 PM EST. The call will provide updates on Better Choice's acquisition of SRx Health, announced in early September 2024. The all-stock transaction, valued at approximately $125 million, will bring SRx Health's extensive Canadian specialty pharmacy network under Better Choice's umbrella.

SRx Health operates 35 specialty pharmacy locations, 40 specialty health/infusion clinics, 4 clinical trial sites, and 2 wholesale distribution facilities across Canada. In 2023, SRx Health generated CAD$161.5 million in revenue, with a projected increase of over 20% to CAD$200 million for the fiscal year ending September 30, 2024. Management expects similar growth for fiscal year 2025.

The shareholder call will provide the investment community with transaction details, which is expected to close in the coming months.

TAMPA, Fla., Oct. 03, 2024 (GLOBE NEWSWIRE) -- Better Choice Company (NYSE: BTTR) (“Better Choice” or “the Company”), a pet health and wellness company, today announced that management, along with the SRx Health Solutions Inc. (‘SRx Health’) team, will host a shareholder update call on Tuesday, October 15, 2024 at 4:30 PM Eastern Time.

Shareholder Update Call Details
Date: Tuesday, October 15, 2024
Time: 4:30 PM EST
Webinar Registration Link: https://us02web.zoom.us/webinar/register/WN_m24xmEYZQXOpHecXe0yuxA#/registration

In early September 2024, Better Choice announced the signing of a definitive agreement to acquire SRx Health, a leading provider of innovative healthcare solutions, in an all-stock transaction for approximately $125 million.

SRx Health operates one of the largest specialty pharmacy networks in Canada with 35 specialty pharmacy locations, 40 specialty health/infusion clinics, 4 clinical trial sites and 2 wholesale distribution facilities¹. SRx Health is only one of a few specialty pharma operators in Canada with a network that extends across Canada, making it one of the most accessible providers of specialty healthcare in the country.

SRx Health in 2023 generated CAD$161.5 million in revenue and recently announced an increase of over 20% year-over-year to over CAD$200 million for the fiscal year ending September 30, 2024. SRx Health management expects revenue for fiscal year 2025 to similarly increase over 20% year-over-year.

During the shareholder update call the management teams of both companies will provide the investment community with an update on the transaction, which is expected to close in the coming months.

About Better Choice Company Inc.
Better Choice Company Inc. is a rapidly growing pet health and wellness company committed to leading the industry shift toward pet products and services that help dogs and cats live healthier, happier, and longer lives. We take an alternative, nutrition-based approach to pet health relative to conventional dog and cat food offerings and position our portfolio of brands to benefit from the mainstream trends of growing pet humanization and consumer focus on health and wellness. We have a demonstrated, multi-decade track record of success selling trusted pet health and wellness products and leverage our established digital footprint to provide pet parents with the knowledge to make informed decisions about their pet’s health. We sell the majority of our dog food, cat food and treats under the Halo brand, which is focused, respectively, on providing sustainably sourced kibble and canned food derived from real whole meat, and minimally processed raw-diet dog food and treats. For more information, please visit 
https://www.betterchoicecompany.com.

Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Further information on the Company’s risk factors is contained in our filings with the SEC. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

Company Contact:
Better Choice Company, Inc.
Kent Cunningham, CEO

Investor Contact:
KCSA Strategic Communications
Valter Pinto, Managing Director
T: 212-896-1254
Valter@KCSA.com

     ^{1)      The second warehouse in Western Canada is anticipated to be operational by the fourth quarter 2025.}

FAQ

When is Better Choice Company (BTTR) hosting its shareholder update call?

Better Choice Company (BTTR) is hosting its shareholder update call on Tuesday, October 15, 2024, at 4:30 PM Eastern Time.

What is the purpose of Better Choice Company's (BTTR) upcoming shareholder call?

The purpose of the call is to provide the investment community with an update on Better Choice Company's acquisition of SRx Health Solutions, which was announced in early September 2024.

How much is Better Choice Company (BTTR) paying to acquire SRx Health?

Better Choice Company (BTTR) is acquiring SRx Health in an all-stock transaction valued at approximately $125 million.

What was SRx Health's revenue in 2023 and what is projected for 2024?

SRx Health generated CAD$161.5 million in revenue in 2023 and projects an increase of over 20% to more than CAD$200 million for the fiscal year ending September 30, 2024.

How many specialty pharmacy locations does SRx Health operate in Canada?

SRx Health operates 35 specialty pharmacy locations across Canada, making it one of the largest specialty pharmacy networks in the country.