Mediland Pharm Limited (ASX:MPH) entered into a conditional business sale agreement to acquire Ian’s Health Lounge business for AUD 0.5 million on April 2, 2019. The purchase price is AUD 0.5 million adjusted by any debt owed by Ian’s Health Lounge to the current Director. As part of the agreement, the founders of the business will remain on board. The transaction is subject to the usual and ordinary conditions, including the Board of Mediland Pharm Limited being satisfied with the due diligence on the business. As of July 22, 2019, due diligence for the transaction has been completed. The transaction is expected to be completed by the end of June 2019. As of July 19, 2019, stage one of transaction has been completed. The transaction will accelerate Mediland’s growth. Mediland Pharm Limited (ASX:MPH) completed the acquisition of Ian’s Health Lounge business on October 1, 2019.