By Anvee Bhutani
Tilray Brands said Monday it acquired HelloMD, a digital healthcare and patient engagement platform, expanding its direct-to-patient medical cannabis business in Canada and supporting its global growth strategy.
Financial terms of the deal weren't disclosed. Tilray said it was the successful bidder in HelloMD's sale process and expects to complete the acquisition of the company's Canadian medical cannabis assets following court approval.
HelloMD provides telehealth consultations, educational resources and medical cannabis guidance for patients. Tilray said the acquisition will help create a fully vertically integrated medical cannabis platform in Canada by combining cultivation, physician support, patient education, product access and fulfillment.
The company said the acquisition also will strengthen its international medical cannabis business and could support expansion into adjacent wellness categories such as sleep support and pain management, subject to applicable regulations.
Write to Anvee Bhutani at [email protected]