Impression Healthcare Limited (ASX: IHL) is the largest home dental impression company in Australia providing its consumers laboratory-grade and personalized dental healthcare products at their homes. The products are available at a meagre price as compared to those offered by the traditional dental industry. It is significantly growing its distribution network. IHL provides teeth protection through its custom-fitted oral devices.
As per an ASX announcement on 19th December 2018, IHL has executed a Memorandum of Understanding (MoU) with an established and reputable Canadian producer of cannabis oils. The MOU states the following:
- The beginning of the cannabis oil supply agreement,
- Guaranteed supply of formulated, filled and labelled bottles for distribution by IHL, and
- The provision of soft gel capsules according to the IHL’s license agreement with Resolution Chemicals
Packaged cannabis oil products will be provided to patients under the Special Access Scheme and the Authorised Prescriber Scheme for a wide range of indications relevant to multiple medical fields. Having cannabis oils available for distribution to doctors and patients from a major reputable supplier will facilitate the development of IHL’s doctor outreach program, even prior to the receipt of the medicinal cannabis license.
The undisclosed manufacturer specializes in extraction and purification of cannabis concentrates and follows international standards for quality. It is working with well-established cultivation partners to manufacture pharmaceutical-grade cannabis oils. The name of the manufacturer is currently withheld as commercial in confidence, and the two parties will endeavour to reach a formal supply arrangement in the short term.
As per the management, the company will have an excellent opportunity to supply cannabinoid medicines into the Australian market. It will enable the company to distribute more product, relevant to more medical practitioners after the receipt of their medicinal cannabis license.
On 19 September 2018, the company announced its collaboration with AXIM Biotechnologies, a company focussing on research, development, and production of pharmaceutical and other products incorporating cannabinoids, to distribute AXIM’s range of cannabinoid-based products in Australia and New Zealand.
The company commenced the application process to obtain the license, for importation, distribution, storage and export of medicinal cannabis products, from the State Department of Health, Victoria and the Federal Office of Drug Control on 24 October 2018 but lodged the application on 12 December 2018.
On 4 December 2018, it entered into an exclusive license agreement for the commercialization of Dronabinol, first cannabinoid medicine permitted for patient use by the Drug Enforcement Agency in the US, in Canada, USA, Australia, and New Zealand.
Recently, IHL has entered into a Heads of Agreement (HoA) with Pace Sports Limited (Pace). It covered a population of over 1.7 billion outlining the sales and distribution agreement for all IHL’s oral devices, via its owned and contracted lab in Victoria, in China, Hong Kong, ASEAN, and Taiwan by retaining all IP rights and control of the digital platforms.
During the calendar year 2018, the scrip price went up by 16.21%, but during the past one month, the price has gone down by 14.3%. The scrip is currently trading at 1.8 cents with no change in price today as at December 20, 2018, 2:43 PM AEST.