Cosmos Holdings completes acquisition of Pharmatrade assets

Cosmos Health announced the acquisition of the distribution network owned by Pharmatrade, an established pharmaceutical wholesale company operating in Greece. Pharmatrade, founded in 2016, specializes in the storage and distribution of pharmaceutical and parapharmaceutical goods in the Greater Athens area, offering an extensive selection of products sourced from prominent multinational corporations within the healthcare industry. This strategic bolt-on transaction, through the Company’s wholly-owned subsidiary CosmoFarm Pharmaceuticals, entails the acquisition of Pharmatrade’s assets pertaining to its sales and distribution network of pharmacies for pharmaceutical and para-pharmaceutical products. The network is expected to boost the Company’s 2024 annual revenue by at least $5 million. In addition to increased revenue, this acquisition aims to enhance efficiencies and generate synergies with CosmoFarm’s state-of-the-art facility in the western part of Athens, which leverages robotic technologies to automate inventory management, procurement, and order execution, thereby delivering an even higher level of service to pharmacy clients.