Intercure Ltd. Stock Price, News & Analysis

InterCure Ltd (NASDAQ: INCR) announced the release of its fourth quarter 2021 financial results on March 31, 2022, with a subsequent webcast scheduled for April 4, 2022, at 8:30 a.m. ET. The company, a leading cannabis producer in Israel, highlights its growth strategy and recent milestones. InterCure operates through its subsidiary, Canndoc, which is the largest licensed cannabis producer in Israel. The company emphasizes its high-margin, vertically integrated model and market-leading distribution network.

InterCure and Clever Leaves have formed a multi-year agreement to cultivate, market, and distribute pharmaceutical-grade medical cannabis across the EU, Australia, and Israel. InterCure will utilize Clever Leaves’ high-THC cannabis flowers to expand its product offerings in various medical markets, particularly in Israel. This partnership aims to leverage both companies' strengths in distribution and product development, enhancing their international reach and compliance with local regulations. The collaboration highlights a commitment to quality and patient needs in the medical cannabis sector.

InterCure Ltd (NASDAQ: INCR) announced that its CEO, Alexander Rabinovitch, will participate in the ROTH Capital’s 34th Annual Conference on March 15, 2022. He will engage in a One-on-One Fireside Chat at 9:30 AM PT. InterCure, operating under the brand Canndoc, is a leading cannabis company outside North America and Israel’s largest licensed cannabis producer. The company focuses on GMP-certified, pharmaceutical-grade medical cannabis products and utilizes a vertically integrated 'seed-to-sale' model and strong international partnerships.

InterCure has signed a definitive agreement with Altman Health to enter the CBD wellness market in Israel, following a recent government decision to remove CBD from the Dangerous Drugs Act. This partnership aims to manufacture and distribute high-quality CBD products, including those of Charlotte's Web. InterCure, known for its pharmaceutical-grade medical cannabis, is well-positioned with a robust distribution network. Altman Health, a leader in nutritional supplements, has extensive retail presence, ensuring significant market access for CBD products in Israel.

InterCure has announced the acquisition of Cann Pharmaceutical Ltd. ("Better") for USD 35 million, aiming to enhance its position as a leader in the pharmaceutical-grade medical cannabis market. This strategic acquisition is expected to boost InterCure's global reach and product offerings, leveraging Better's unique strains and cultivation expertise. The transaction is structured as a share swap, maintaining a valuation of USD 10 per share, which aligns with previous transactions. Closing is expected in Q3 2022, pending regulatory approvals.

InterCure reported record preliminary revenue of over CAD$31 million (NIS 77 million) for Q4 2021, a 250% year-over-year increase. This marks the eighth consecutive quarter of double-digit growth, with an annualized run rate of $124 million. The company anticipates continued increases in operating profit, EBITDA, and revenue growth into 2022. Additionally, InterCure is expanding its market presence with openings in Europe and has increased its pharmacy locations to 20 in Israel, capturing approximately 30% of the medical cannabis market.

InterCure Ltd (NASDAQ: INCR) announces a strategic partnership with Cookies to launch retail locations in Austria and the U.K. in early 2022. This multi-year agreement will enable InterCure to establish Cookies stores and medical cannabis pharmacies, leveraging its supply chain expertise to cater to the medical cannabis market in Europe. InterCure, already thriving in Israel, plans to replicate its successful business model as the European cannabis landscape evolves favorably.

Cookies announces a partnership with InterCure to expand into Europe, establishing retail locations in Austria and the U.K. in early 2022. This multiyear agreement allows InterCure to utilize its international supply chain to provide Cookies-branded products in these markets. Both companies aim to deliver quality cannabis products to the growing medical cannabis community. Cookies plans to enhance its brand presence internationally, leveraging its recognized status in the cannabis industry.

InterCure Ltd (NASDAQ: INCR) announces participation in Cowen’s 4th Annual Cannabis Conference from November 29 - December 1, 2021. CEO Alexander Rabinovitch will join the ‘International’ panel on November 30 at 11:50 a.m. ET. The event is virtual, allowing management to hold one-on-one meetings with institutional and corporate clients. InterCure, operating as Canndoc, is Israel's largest licensed cannabis producer and a leader in the rapidly growing cannabis market outside North America.