Canada House Clinics Acquires Margaree Medical Cannabis Clinic For Veterans

Canada House Clinics Inc. has acquired Margaree Health Group Inc., a medical cannabis clinic that serves veterans in Nova Scotia.

Under the deal, CHC - a wholly-owned subsidiary of medical cannabis company Canada House Wellness Group CHV - purchased Margaree for $500 000 and a three-year earn-out based on Margaree's revenue during the earn-out period.

In addition, Margaree patients, who order roughly $1.5 million worth of medical cannabis per year, will be served by CHC's Halifax clinic.

CHC was launched in 2013 by veterans. Today, it serves almost 6,000 active patients. Prior to taking over Margaree, CHC served nearly 3,300 veterans. Its annualized revenue exceeds $5 million.

Margaree, created by the leadership team of True North Psychological Services, helps more than 350 veterans in Nova Scotia to get an education and to procure essential medical cannabis documentation and treatment plans.

"We are proud of our continued support to Veterans and our resulting steady business growth," Alex Kroon, president of Canada House Clinics, said Thursday. "We look forward to helping Margaree patients and working with True North professionals as a choice for their Veteran patients who could benefit from medical cannabis."  

CHC recently donated $10 000 to Veteran Voices of Canada and continues to contribute to veteran causes via the non-profit Post Traumatic Growth Association.

"True North spoke to several groups about potentially taking over Margaree's cannabis prescribing; CHC really impressed us with their Veteran focus and their willingness to donate to Veteran causes," said Dr. Mark Johnston, who leads True North.

Photo by Esteban Lopez on Unsplash