Custom Health Receives Buy Rating from Stifel and Announces Pharmacy Acquisition
Custom Health Holdings Inc (TSX:CHLT) received a Buy rating from Stifel with a C$12 price target and potential upside to C$18 per share. Stifel highlighted the company's pill-dispensing platform, including the Spencer device and AdhereNet AI, which achieves a 98% medication adherence rate, addressing the $0.5 trillion US healthcare cost from non-adherence. Custom Health has over 100,000 patients contracted with major insurers like Humana and Elevance. Separately, the company signed a binding letter of intent to acquire Evergreen Pharmacy LLC for US$3.5 million, adding over US$78 million in annual revenue and expanding its Midwest footprint. Stifel projects nearly tripling active patients to 17,000 next year and 4x revenue growth over two to three years, with high-margin recurring revenue from the Spencer device.
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