Cannabis License From The Health Department May Enhance Impression Healthcare’s Operations

  • Jan 16, 2019 AEDT
  • Team Kalkine
Cannabis License From The Health Department May Enhance Impression Healthcare’s Operations

Impression Healthcare Limited (ASX: IHL) is into the business of providing high quality, personalized dental health care products to its consumers. It is a nation-wide service provider to individuals, schools and sports clubs. It is capable of large-scale production of high quality and custom-fit mouth guards by dental professionals of Australia, which can be accessed through the convenient online store as well.

On 16 January 2018, the company announced that it has received the necessary license to sell and supply scheduled cannabinoid substances, from the health department of Victoria. The license includes products such as Cannabis, Cannabidiol (CBD), Tetrahydrocannabinols (THC) as well as Dronabinol.

The company came to terms with the third-party suppliers for enhancing secure product handling and distribution as required for the distribution of these medicines to the patients. The license will help the company in its several activities including the sale of cannabinoid medicines across Australia, however subject to the permission of law under the special access scheme via authorized prescribed networks. Also, it is now eligible for importing and exporting of cannabinoid medicines to and from Australia.

The announcement is an important milestone for the company concerning the previous agreements made with companies like AXIM Biotechnologies, Resolution Chemicals and a reputed Canadian manufacturer of capsules and cannabis oils.

The CEO of the company Joel Latham stated that the company is delighted to get the license ahead of the anticipated timing. This is evidence of the quality of the pharmaceutical advisors of the company. The achievement of the license will unlock new potentials and further value in the relationship with the suppliers of the company which it has already made arrangements previously.

On 11 January 2019, the company disclosed that it has entered into a Memorandum of Understanding with Force Impact Technologies Incorporation for the development of an exclusive agreement on marketing and distribution for FiTGuard which will cover countries like Australia, New Zealand, and Hong Kong. It has developed a mouth-guard called FiTGuard, to detect any head injury, and will help the athletes, coaches and several medical staffs to assess if the athlete is suitable to continue playing, or when can they be fit to play again. It will also help in assisting in any post play medical assessments. The     FiTGuard technology suite will include the FiTGuard, the FiTApp, and FiTCloud.

Now let us quickly have a look at the performance of the stock of Impression HealthCare Limited and the returns it has produced over the past few months. The stock is currently trading at $0.021, with the market capitalization of ~$9.81 million. The stock opened at $0.023 and posted a day’s low of $0.021, however, it touched a day high of $0.026. It has a 52-week high price of $0.041 and a 52-week low of $0.011, with an average trading volume of 9.37 million approximately. The stock yielded a YTD return of 31.25% and also has generated returns of 0.21%, 50.0% and 16.67% over the last six months, three months and one-month period, respectively.


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