Abacus Health Products - Strong 2019 growth
Abacus reported revenue of US$15.5m in 2019, up 81.8% year-on-year. CBD CLINIC sales were US$11.7m, up 39.6% compared to 2018, and CBDMEDIC sales were US$3.7m. CBDMEDIC sales for Q419 were US$1.5m, up 28.8% compared to Q319. Given the company's strong growth and topical product line, in March, CBD industry leader Charlotte's Web agreed to acquire the company in an all-share deal where Abacus shareholders will receive 0.85 of a common share of Charlotte's Web for each Abacus share held (C$5.58 per share based on current prices).
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