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Mednow Inc. (OTCQB:MDNWF) anticipates fiscal Q3 2022 revenue between C$5M and C$5.5M, projecting 175% quarter-over-quarter growth. For 2022, total revenue is forecasted at C$42.5M to C$47.5M with a gross margin averaging 20% and a net loss. Looking ahead to 2023, revenue is estimated at C$105M to C$110M and average gross margin increasing to 25%. Adjusted EBITDA for 2023 is projected at $5M to $10M. Mednow is set to launch its pharmacy fulfillment center in Montreal by May 2022.
Mednow Inc. (TSXV:MNOW; OTCQB:MDNWF) has launched Total Health, a personalized supplement program aimed at improving preventive health for Canadians. The initiative provides tailored supplement plans created by nutrition experts to address consumers' unique health needs, especially amidst rising dietary supplement usage post-pandemic. The global dietary supplements market is projected to grow at a CAGR of 8.9%, highlighting increasing consumer demand for health products. Mednow emphasizes high-quality, Health Canada-approved supplements, delivered directly to customers' doors.
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Mednow Inc. (TSXV:MNOW; OTCQB:MDNWF) announced a share purchase agreement on March 4, 2021, to acquire all shares of Mednow East Inc. for approximately C$65,578 and conversion of C$1,374,422 debt into a non-interest bearing convertible promissory note. The acquisition enables Mednow to consolidate revenues and expenses from Mednow East, enhancing its pharmacy services in Ontario with free same-day and next-day delivery. The transaction is also a related party deal, exempt from formal valuations under MI 61-101. Approval from the TSX Venture Exchange is pending.
Mednow has entered a two-year investment agreement to acquire the License and Exclusive Distribution Rights of TruDiagnostic™ in Canada for a cash payment of US$150,000. This collaboration enhances Mednow's digital health offerings, allowing for epigenetic testing that quantifies aging through methylation biomarkers. The TruAge Complete Collection can provide insights into biological age, immune age, and telomere length. Mednow aims to offer a holistic healthcare ecosystem, expecting to integrate these services into its platform in Q1 2022.
Mednow Inc. (TSXV: MNOW; OTCQB: MDNWF), Canada's on-demand virtual pharmacy, has completed the acquisition of Mednow Pharmacy Inc., for approximately $74,000 in cash and converting $908,000 owed under a previous agreement into a non-interest bearing promissory note. This move consolidates Mednow West's operations into Mednow’s platform, enhancing their online pharmacy capabilities in British Columbia. The transaction is a related party transaction but complies with regulatory exemptions, indicating its strategic importance in expanding Mednow's national presence.
Mednow Inc. (OTCQB: MDNWF), a Canadian on-demand virtual pharmacy, announced on September 22, 2021, its acquisition of Mednow Pharmacy Inc. for approximately $74,000 in cash and the conversion of $908,000 debt into a non-interest bearing convertible note. This acquisition enhances Mednow's national pharmacy presence, allowing complete ownership of a pharmacy in British Columbia, facilitating pharmaceutical delivery services. The transaction is subject to regulatory approvals, with directors also being shareholders of Mednow West, indicating it as a related party transaction.
Mednow Inc. (TSXV: MNOW, OTCQB: MDNWF), Canada’s on-demand virtual pharmacy, will participate in the Virtual Gravitas Health Reimagined Investor Day on September 16, 2021. CEO Karim Nassar is set to present at 9:30 AM PT and answer investor questions. The event will run from 8:30 AM to 1:00 PM PT. Mednow provides virtual pharmacy services focused on patient experience, including free medication delivery and telemedicine access. For more details, register here.
Mednow Inc. (OTCQB:MDNWF) has received approval for its pharmacy license from the Nova Scotia College of Pharmacists, expanding its operations into Halifax, the largest city in Atlantic Canada. This move allows Mednow to offer on-demand home delivery services in Nova Scotia, complementing its existing operations in Ontario and British Columbia. With three fulfillment centers now established, Mednow aims to grow its national footprint, enhancing its digital healthcare offerings.
Mednow has acquired Medvisit for $1,320,000 in cash, along with a potential earn-out of $680,000 based on profitability milestones. Medvisit is Canada’s largest doctor house call service, facilitating around 30,000 home visits annually and generating approximately $3 million in revenue last fiscal year. This acquisition enhances Mednow's healthcare offerings, allowing for integrated services that benefit patients unable to visit clinics. CEO Karim Nassar emphasizes the strategic nature of this deal in expanding Mednow's healthcare footprint in Canada.