CHICAGO - Cosmos Health Inc. (NASDAQ:COSM), a global healthcare group, has announced the acquisition of Pharmatrade S.A.'s distribution network, aiming to bolster its presence in Greece. Pharmatrade, a pharmaceutical wholesaler based in Athens, specializes in the distribution of various healthcare products.
The strategic acquisition by Cosmos Health's subsidiary, CosmoFarm Pharmaceuticals S.A., includes the sales and distribution network for pharmaceutical and parapharmaceutical products to pharmacies. This move is expected to increase Cosmos Health's annual revenue by at least $5 million in 2024.
Greg Siokas, CEO of Cosmos Health, expressed satisfaction with the acquisition, noting it as the latest in a series of expansions for CosmoFarm. The acquisition follows the previous year's addition of Bikas' distribution network and is part of the company's ongoing strategy to expand its customer base and create operational synergies.
Cosmos Health, established in 2009, is involved in various segments of the healthcare industry, including the ownership of proprietary pharmaceutical and nutraceutical brands, manufacturing and distribution of healthcare products, and operation of a telehealth platform.
The company's manufacturing subsidiary, Cana Laboratories S.A., is GMP licensed and EMA certified, producing a range of pharmaceuticals and other health-related products within the EU.
The integration of Pharmatrade's network is expected to enhance efficiencies and generate synergies with CosmoFarm's facility in Athens, which utilizes robotic technologies for inventory management and order processing.
The information presented is based on a press release statement.
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