Press Releases

Mednow Closes Acquisition of Infusicare Pharmacy

Toronto, ON. (December 13, 2021) – Mednow Inc. (“Mednow” or the “Company”) (TSXV:MNOW),  Canada’s on-demand virtual pharmacy, is pleased to announce that further to its press release dated  November 18, 2021, it has closed the acquisition of Infusicare Canada Inc. (“Infusicare”) for a cash  payment of C$1.85M.  

In its latest fiscal year, Infusicare generated C$9.3M in revenue and C$400,000 in gross profit from selling  prescription medications and support services to its patients. 

“Mednow continues to achieve its vision of connecting all people of Canada with access to amazing care,  through the acquisition of Infusicare” said Karim Nassar, Chief Executive Officer of Mednow. “Adding  Infusicare, a specialty pharmacy offering biologic drugs, compliments our approach to accelerating our  strategy of full-service offerings through both organic development and mergers and acquisitions.  Specialty pharmacy will integrate well into our digital pharmacy which offers unique medication  adherence solutions in addition to mental health support, epigenetic testing, and men’s wellness”. 

Mednow aims to continue adding and growing services to its platform that change the way healthcare is  delivered to patients. 

Biologic Drugs 

Biologic drugs are genetically engineered proteins that target specific parts of the immune system that  fuel inflammation. Presently, biologic drugs are one of the fastest growing pharmaceutical product  segments in Canada. The high cost of biologic drugs, with treatment costs ranging from thousands to tens  of thousands of dollars per year per patient, as well as their continued growth in usage, have contributed  to a significant increase in pharmaceutical expenditure.1 

There has been a significant shift in pharmaceutical sales towards biologic drugs over the last decade.  Whereas only one biologic drug made the list of the ten top-selling patented pharmaceutical products in  2006, biologic drugs accounted for seven products on this list in 2017 representing 42% of patented  medicine sales in Canada.2 

As Amir Ali Reyany-Bozorg and Felipe Campusano are directors of the Company, and each are also  shareholders of Infusicare, the transaction contemplated under the Share Purchase Agreement (the  “Transaction”), constitutes a related party transaction under Multilateral Instrument 61-101 – Protection  of Minority Securityholders in Special Transactions(“MI 61-101”). The Company is exempt from the formal  valuation and minority shareholder approval requirements imposed by MI 616-101 pursuant to the  exemptions in section 5.5(a) and 5.7(a) of MI 61-101, as neither the fair market value of the Shares, nor  the consideration paid therefor, exceeds 25% of the Company’s market capitalization.

1 Government of Canada, Competition Bureau Statement 

2 Patented Medicine Prices Review Board Annual Report 2017

About Mednow Inc. 

Mednow is a healthcare technology company offering virtual access with exceptional care. Designed with  access and quality care in mind, provides virtual pharmacy and telemedicine services, as well  as doctor home visits, with convenience and through an interdisciplinary approach to healthcare that is  focused on the patient experience. Mednow’s services include free at-home delivery of medications, a  user-friendly interface for easy upload, transfer and refill of prescriptions, access to healthcare  professionals through an intuitive chat experience, a specialized PillSmart™ system that packages  prescriptions and vitamins by date and time, and doctor consultations.  

To learn more, follow Mednow on LinkedIn, Twitter, Facebook, and Instagram, as well as visit 

Investor Relations Contact: 

Lucy Chitilian 


Media Contact: 

Kieran Lawler 


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies  of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 

Cautionary Note Regarding Forward-Looking Statements:  

This release includes certain statements and information that may constitute forward-looking information  within the meaning of applicable Canadian securities laws. All statements in this news release, other than  statements of historical facts, including statements regarding future estimates, plans, objectives, timing,  assumptions or expectations of future performance, including without limitation, the expectation that  Infusicare’s specialty pharmacy will be integrated with the Company’s digital pharmacy platform, the  expectation that the Company will continue to grow and add to its platform, and the expectation that the  acquisition of Infusicare will bolster Mednow’s expertise in biologic drugs are forward-looking statements  and contain forward-looking information. Generally, forward-looking statements and information can be  identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of  such words and phrases or statements that certain actions, events or results “may”, “could”, “should”,  “would” or “occur”. Forward-looking statements are based on certain material assumptions and analysis  made by the Company and the opinions and estimates of management as of the date of this press release,  including that the Company will be able to integrate Infusicare’s specialty pharmacy with the Company’s  digital pharmacy platform, that the Company will continue to grow and add to its platform, and that the  acquisition of Infusicare will bolster Mednow’s expertise in biologic drugs. These forward-looking  statements are subject to known and unknown risks, uncertainties and other factors that may cause the  actual results, level of activity, performance or achievements of the Company to be materially different  from those expressed or implied by such forward-looking statements or forward-looking information.  Important factors that may cause actual results to vary, include, without limitation, that the Company is  not able to integrate Infusicare’s specialty platform with the Company’s digital pharmacy platform, that 

the Company does not continue to grow and add to its platform, and that the acquisition of Infusicare will  not bolster Mednow’s expertise in biologic drugs. Although management of the Company has attempted  to identify important factors that could cause actual results to differ materially from those contained in  forward-looking statements or forward-looking information, there may be other factors that cause results  not to be as anticipated, estimated or intended. There can be no assurance that such statements will  prove to be accurate, as actual results and future events could differ materially from those anticipated in  such statements. Accordingly, readers should not place undue reliance on forward-looking statements  and forward-looking information. Readers are cautioned that reliance on such information may not be  appropriate for other purposes. The Company does not undertake to update any forward-looking  statement, forward-looking information or financial out-look that are incorporated by reference herein,  except in accordance with applicable securities laws.