Dalrada Financial Corporation Healthcare Subsidiary, Genefic, Inc., Acquires IV Services Infusion Pharmacy

Company enters $42 billion marketplace with acquisition of established and successful infusion pharmacy.

SAN DIEGO, May 21, 2024 (GLOBE NEWSWIRE) -- Dalrada Financial Corporation (OTCQB: DFCO, “Dalrada,” “the Company”), announced today that its wholly-owned healthcare subsidiary, Genefic, Inc. (“Genefic”), had acquired IV Services, LLC, a recognized pharmaceutical business and infusion management leader.

The acquisition of IV Services expands Genefic’s existing pharmacy sales and operational footprint. Furthermore, the acquisition will also increase Genefic’s top line revenue through new product offerings with its established patient base and payor contracts with major insurance carriers which strengthens its current specialty pharmacy business.

“Acquiring an infusion specialist like IV Services bolsters Genefic’s offerings and allows us to further our expansion in this unique market, delivering immediate and long-term value to our pharmaceutical business,” said Dalrada CEO, Brian Bonar. “And, I’m pleased to report that acquiring these companies is non-dilutive to Dalrada shareholders,” he added.

With the global infusion pharmacy management market currently worth approximately $42 billion and predicted to grow to nearly $70 billion by 2030, the acquisition presents Genefic with the opportunity to continue developing its patient care capabilities through IV Services’ expansive Louisiana-based facility and enter a well-established, rapidly-rising business segment.

Genefic CEO, Dan Riley, echoed Bonar’s sentiments, adding, “We’re excited about what this acquisition will bring to Genefic. This is the first of multiple opportunities within the infusion pharmacy space that will provide us with a wider reach than ever before, while driving significant revenue.”

With IV Services’ full pharmacy licenses in Louisiana and Mississippi, Genefic adds more regional U.S. states to its pharmaceutical fold, complementing its existing licenses and operational presence in a growing roster of states, including North Carolina, South Carolina, Tennessee, Georgia, Alabama, and Texas.

About Dalrada Corporation

Dalrada Financial Corporation (OTCQB: DFCO) is a multi-national holding company that develops, manufactures, and sells a robust suite of products and services in the Clean Energy and Health Care sectors. Dalrada’s core segments include Dalrada Climate Technology, which offers cutting-edge heat pump technology for industrial and residential applications, and Genefic Specialty Pharmacy, which provides end-to-end prescription services as well as patient advocacy and support.