Medipharm Labs closes sale of Hope facility, plans to expand Napanee capacity

MediPharm Labs (MEDIF) announced the closing of the sale of its Hope, British Columbia facility to Rubicon Organics (ROMJF) for $4.5M in cash. In parallel, the Company is expanding annual international cultivation capacity at its EU GMP-certified facility in Napanee, Ontario by approximately 30% in 2025. These developments underscore MediPharm’s strategic focus on operational efficiency, financial strength, and delivering premium pharmaceutical-grade cannabis products to a growing global customer base. The Hope Facility was acquired as part of the VIVO Cannabis acquisition in 2023, and the Company ceased all Hope Facility commercial activities in 2024, consolidating key operations at its other facilities. MediPharm has executed strategic divestiture of non-core assets alongside rigorous cost-saving initiatives to enhance efficiency and sharpen its operational and commercial focus. MediPharm has reduced operating expenses by over $40M on an annualized basis in the past several years, compared to the combined MediPharm and VIVO Cannabis operations in the first quarter of 2022. MediPharm’s investment in expanding cultivation capacity by approximately 30% at its EU GMP-certified Napanee facility enhances the Company’s ability to meet growing international demand for pharmaceutical cannabinoid products, particularly in Europe and Australia.