© Reuters.
EDMONTON, AB – Aurora Cannabis Inc (TSX:). (NASDAQ: NASDAQ:) (: ACB), a prominent player in the global medical cannabis market, has announced the acquisition of MedReleaf Australia, positioning the company as the largest in its field operating within legally sanctioned markets worldwide. The acquisition, which saw Aurora take up the remaining 90% stake in MedReleaf Australia for an enterprise value of AUD$50 million, is expected to be immediately accretive to Aurora’s Adjusted EBITDA and is anticipated to hasten the company’s stride towards positive free cash flow generation in the 2024 calendar year.
MedReleaf Australia, a top distributor of medical cannabis, is ranked second in the Australian medical cannabis market, a sector currently valued at around AUD$400 million. The Australian market mirrors a traditional pharmaceutical distribution model, a space where Aurora has historically thrived, particularly in…
