(Alliance News) - Kanabo Group PLC on Tuesday said that it has continued to make significant progress on its strategy of building a HealthTech ecosystem, after integrating its acquisition of GP Service.
Kanabo is a London-based developer and distributor of cannabis-derived products and inhalation technologies for medical patients and non-THC products for CBD consumers.
After buying GP Service last year for GBP13.5 million, Kanobo on Tuesday told investors it has now fully integrated the acquisition, expanding its activities across the digital health services arena, generating an over 100% increase in consultations on the platform.
GP Service is a UK-based private primary care telemedicine provider.
In further news, Kanabo said it is in the process of obtaining European CE product certification for its cannabis inhaler and expects to receive this in the third quarter of 2023.
"I am proud of our achievements in 2022, and believe we are now well-positioned to look forward with confidence as we head into 2023 to deliver a more accessible healthcare experience for patients. This year, we have made great strides to establish ourselves as a leader in patient access to treatments that are not available through traditional channels," said Chief Executive Officer Avihu Tamir.
"We are leveraging the unique combination of innovative technology and personalised medical treatments to deliver individualised solutions via our digital healthcare platform and medical cannabis products."
Kanabo shares were trading 14% higher at 4.00 pence each in London on Tuesday morning. The stock is down 63% over the past 12 months.
By Holly Beveridge; Alliance News reporter
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