InterCure Announces Partnership with Altman Health
The partnership will focus on the new CBD wellness market in Israel
Israeli Minister of Health announced yesterday that CBD will be removed from the Dangerous Drugs Act
Altman Health is the market leader in health and wellness with distribution across the country
InterCure Ltd. (NASDAQ: INCR) (TSX: INCR.U) (TASE: INCR) (dba Canndoc) (“InterCure” or the “Company”) today announced it has signed a definitive agreement (the “Agreement”) with Altman Health LP (“Altman Health”), the market leader with an unmatched shelf space of OTC and nutritional supplements in over 1700 points of sale, including all major pharmacies across Israel. The newly formed company will focus on the new Israeli CBD product market, following the Israeli Minister of Health’s announcement yesterday that CBD will be removed from the Dangerous Drugs Act.
In December 2020, InterCure established an exclusive strategic partnership with Charlotte’s Web, a global leader in full spectrum hemp extract products. The partnership with Altman Health will register, manufacture, market and distribute CBD products in Israel, including Charlotte’s Web branded products. Positioned as the first-to-market, offering high quality branded CBD products in the territory — endorsed by the country’s two leading and trusted brands both in wellness and medical cannabis.
Altman Health was created in 2005 by the merger of two leading health product firms, Ta’am Teva and Altman. Altman Health offers a wide range of health and wellness products, including nutritional supplements, homeopathic solutions and medicinal cosmetics. Altman Health’s products can be found across the country in over 1700 points of sale including pharmacies, health food stores, as well as in the national health fund clinics. Additionally, Altman Health has a trained professional staff of medical representatives who are in regular contact with the Israeli medical community. The firm also operates a service and training department of veteran professionals, including naturopaths, nutritionists, and dieticians, who provide a professional response to customer inquiries.
Alexander Rabinovitch, CEO of InterCure said: “The strategic partnership with Altman Health is a natural connection between groundbreaking and market-leading companies. InterCure is leading the pharmaceutical grade medical cannabis revolution, which within two and a half years has become the most sold out of pocket prescription drug in Israel and together with Charlotte’s Web, the world’s leading CBD company, we are positioned to lead the CBD revolution as well. The partnership with Altman Health, the leading Israeli entity in nutritional supplements with the largest shelf space across Israel, is a significant step for InterCure and the Israeli public, who for the first time will be able to enjoy the highest quality and safest CBD products without the need for a doctor’s prescription.”
Eynat Usant Ravid, CEO of Altman Health said: “The partnership with InterCure is an integral part of Altman Health’s long-term strategic plans, and the development of a significant growth engine in the healthy lifestyle space. The partnership is a natural and correct move that unites the two partners’ exceptional professional capabilities. Altman Health has been leading the dietary supplement market in Israel for over 50 years, and we are happy to expand our activities into the CBD space.”
Update Regarding 2021 Financial Statements
The Company will file its audited financial statements for the year ended December 31, 2021, together with its management discussion and analysis and annual information form no later than March 31, 2022.
