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Khiron Life Sciences completes acquisition of Colombia-based health network

Khiron Life Sciences Corp. completed its previously announced acquisition of the Latin American Institute of Neurology and the Nervous System, or ILANS.

The Toronto-listed medical cannabis company had priced ILANS at about C$7 million, paid for with C$4.9 million in cash and the rest in shares.

ILANS is one of the largest health service network providers in Colombia and Latin America, representing 100,000 patients in Colombia and with revenues of about C$10.5 million in 2017.

Khiron Life Sciences, which has its core operations in Colombia, said the acquisition provides a secure and scalable revenue stream and the opportunity to enhance profitability from introducing medical cannabis to ILANS patients.