TerrAscend Corp. completed the acquisition of HMS Health, LLC and HMS Processing, LLC from Curaleaf Holdings, Inc..
May 03, 2021
Share
TerrAscend Corp. (CNSX:TER) signed a definitive agreement to acquire HMS Health, LLC and HMS Processing, LLC from Curaleaf Holdings, Inc. (CNSX:CURA) for $27.5 million on November 6, 2020. The consideration is comprised of $25 million in cash and a $2.5 million note which bears 5.0% annual interest, due April 2022. With the acquisition TerrAscend will leverage their strong management team and corporate support functions to drive economies of scale. Upon closing, 100% of HMS' economics will be retained by TerrAscend through full ownership of HMS Health, LLC and a master services agreement with HMS Processing, LLC. The acquisition is subject to certain closing conditions, including approvals from regulatory authorities. The closing of the transaction is expected to occur in the first quarter of 2021. The transfer of 100% equity of HMS processing is expected to close in April 2022. The acquisition is expected to be immediately accretive to TerrAscend on an EBITDA basis.
TerrAscend Corp. (CNSX:TER) completed the acquisition of HMS Health, LLC and HMS Processing, LLC from Curaleaf Holdings, Inc. (CNSX:CURA) on May 4, 2021.
Curaleaf Holdings, Inc. is an international provider of consumer cannabis products. The Company and its brands, including Curaleaf, Select, Grassroots, JAMS, Find and Zero Proof provide selection and accessibility across the medical and adult use markets. It operates in approximately 17 states and owns and operates 147 dispensaries and 21 cultivation sites with a focus on states, including Arizona, Florida, Illinois, Massachusetts, New Jersey, New York and Pennsylvania. It cultivates, processes, markets and/or dispenses a range of permitted cannabis products across its operating markets, including flower and pre-rolls, dry-herb vaporizer cartridges, concentrates for vaporizing such as pre-filled vaporizer cartridges and disposable vaporizer pens, concentrates for dabbing, such as mints, topical balms and lotions, tinctures, lozenges, capsules and edibles. Through Curaleaf International Holdings Limited, it has a supply and distribution network throughout the European market.
CURALEAF HOLDINGS, INC. 
