Tilray Brands, Inc. (NASDAQ:TLRY) announced on June 29, 2026, that it will acquire HelloMD Corporation, a digital healthcare and patient engagement platform. The company emerged as the successful bidder in HelloMD’s formal sale process.
Following court approval granted the same day, Tilray plans to acquire HelloMD’s Canadian medical cannabis assets. The press release did not disclose the financial terms of the transaction.
Blair MacNeil, President of Tilray Brands, Inc. (NASDAQ:TLRY) Canada, said the combination of HelloMD’s digital healthcare platform with Tilray’s medical cannabis portfolio and national fulfillment capabilities builds a more connected pathway for patients and healthcare practitioners. Tilray stated that the deal creates a fully vertically integrated medical cannabis framework in Canada, linking cultivation, clinical expertise, practitioner support, product access, and fulfillment.
Shares of Tilray Brands, Inc. (NASDAQ:TLRY) climbed 6.4% to $4.47 at the start of trading on Friday, July 31, 2026. This gain followed a 5.3% increase in the stock price on Thursday.
The movement was isolated to Tilray, as shares of Canopy Growth (NASDAQ:CGC), Aurora Cannabis (NASDAQ:ACB), and SNDL (NASDAQ:SNDL) each fell. Prices were based on most recent trades as of approximately 13:56 EDT.
The acquisition is part of a broader strategy where non-cannabis operations generated 71% of revenue for fiscal 2026. However, cannabis contributed a greater share to overall profits, accounting for 41% of gross profit while representing just 29% of sales. Distribution accounted for 36% of total sales yet contributed just 16% of gross profit.
The division’s margin stood at 12%, behind the 40% achieved by cannabis.
HelloMD CEO Larry Lisser said the platform has supported hundreds of thousands of patients through telehealth consultations and personalized guidance since its founding. Tilray Brands, Inc. (NASDAQ:TLRY) also pointed to potential opportunities in adjacent wellness categories such as sleep support and pain management.
These are areas where over-the-counter products represent a large market the company is not yet meaningfully part of.
Shares of Tilray Brands, Inc. (NASDAQ:TLRY) are down more than 50% in 2026 so far. For fiscal 2026, adjusted EBITDA and revenue both increased by approximately 11%.
The GAAP net loss declined to $105.2 million. The comparison was helped by $2.1 billion in impairments recorded in the prior year. These charges were absent in fiscal 2026.
Overall gross margin climbed to 32% in the fourth quarter, up from 30% the previous year.
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