Potential for further future growth in the European cannabis markets
The pharmaceutical company for Cannabinoids CanPharma GmbH is joining forces with Australian pharmaceutical company Health House International. This strong partnership provides Health House with access to the highly valuable German medical cannabis market. CanPharma has a global player in Europe and Australasia on its side through the merger, which provides the German company with a solid basis for future growth both domestically and internationally. In addition, Health House gives CanPharma access to products that the pharmaceutical company can also bring to market in Germany.
CanPharma holds the highest pharmaceutical licences (GMP) from the German regulatory authorities, which allow the company to import, manufacture and distribute cannabinoid-based products in both flower and extract form. CanPharma has been importing and distributing dried cannabis flowers in Germany since 2019. In May 2021, the company launched cannabis extracts under its own brand. CanPharma is in an ideal position to benefit from the continued growth in prescription numbers in Germany.
The partner company, the Barcelona-based Kalapa Clinic, remains part of the group. Kalapa was the first counselling centre for medical cannabis to be established in Europe. It advises healthcare professionals and patients on the appropriate use of cannabis-based medicines for the treatment of various indications. With its headquarters in Spain, Kalapa Clinic is in a strong position to expand into the Spanish market as soon as legislation allows.
CanPharma’s management team consists of industry specialists with years of experience in the cannabis industry. As part of the acquisition, CanPharma’s founder, Dr Henrik Sprengel, will remain CEO of CanPharma and has been appointed to the board of Health House International. Prior to founding CanPharma, he was CEO of the company’s founder Grupo HS3, which successfully launched several international projects in various industries with a focus on the internet and technology. CanPharma’s current CFO, David Attwood, will be appointed Group CEO of Health House and will assume overall responsibility for the group’s operations.
Health House International is an international pharmaceutical wholesale company specialising in the distribution of medicinal cannabis products in Australasia, the UK and Europe, among other markets. The company currently distributes more than 11 medicinal cannabis products throughout Australasia. Through its wholesaler and controlled drug licences, the company supplies medical cannabis and general pharmaceutical products to pharmacies, hospitals, government agencies, veterinarians and other wholesalers in Europe.
For more information, please visit https://healthhouse.com.au/
“The partnership with Health House has the potential to position us as a market leader in Europe – a fast-growing medical cannabis market with the greatest global potential. We believe CanPharma is in a position to gain access to the growing number of patients in Germany, offer a broader range of products and expand medical education,” explains Dr Henrik Sprengel, co-founder and CEO of CanPharma. “This model, coupled with Health House International’s expertise, global networks and reputation, will drive our development and enable us to expand the company’s footprint across Europe.”
David Wheeler, Director of Health House, adds: “We are delighted to officially welcome the CanPharma team to the Health House Group, where they will play a leading role in the future growth of the company. By leveraging CanPharma’s licenses, product offerings and expertise, we are expanding our market reach and strengthening our position as a global leader in the distribution of medical cannabis products.”
CanPharma GmbH is a pharmaceutical company with wholesale and manufacturing licenses and a unique portfolio of medical cannabinoid products. Our mission is to become a leading European pharmaceutical company and to improve the quality of life of patients* by providing advanced products. Our manufacturing partners meet the highest pharmaceutical quality standards, the EU GMP guidelines. CanPharma supplies pharmacies throughout Germany with high-quality products and educates professionals and patients about the professional use of medicinal cannabis.
For more information, please visit https://www.canpharma.eu/de/