Mednow Inc (OTCMKTS:MDNWF) Stock In Focus After Key Business Update

Canada’s on-demand virtual pharmacy Mednow Inc (OTCMKTS:MDNWF) on May 3, 2023, announced the implementation of cost reduction measures as well as operational streamlining for focusing on making an efficient business.

Trading Data

On Tuesday, MDNWF stock ended flat at $0.4000 with 3K shares, compared to its average volume 5.27K shares. The stock moved within a range of $0.4000 – 0.4000 after opening trade at $0.4000.

Mednow Announces Cost Reductions Through Efficiencies and Streamlining of Business Lines

Mednow Inc said that the company has moved from a strategy of owning pharmacies in its provinces for funding and operating pharmacies in British Columbia and Ontario. The company has shifted to a franchise and partner pharmacy model in other parts of the country. This will enable the company to maintain the standard of pharmacy care and lowering operational costs.

The company continues operating and owning pharmacies in British Columbia along with a franchise in the province of Quebec. In other regions, the firm operates through preferred pharmacy partners as well as franchisees by giving engagement and technology tools for local fulfillment. Mednow pharmacies in British Columbia and Ontario can also service select other provinces.

Mednow is also exploring strategic alternatives for select subsidiaries, including London Pharmacare Inc and Liver Care Canada Inc. The strategic alternatives may include the divestiture of companies.

Mednow is a healthcare technology company providing virtual access with a high standard of care. Its services include free at-home delivery of medications, a user-friendly interface for prescriptions, doctor consultations, access to healthcare professionals as well as a specialized PillSmart system.