MedReleaf

About MedReleaf

MedReleaf is a Canadian-licensed producer of medical cannabis, now operating as a wholly-owned subsidiary of Aurora Cannabis. The company was founded in 2013 by individuals including Neil Closner, Eitan Popper, Dr. Navid Mirza, Trevor Campbell, and Darren Karasiuk, with a patient-first philosophy focused on pharmaceutical-grade production standards and research. Neil Closner, a co-founder who served as CEO, brought a background in healthcare and startups, including a role at Toronto's Mount Sinai Hospital. Another co-founder, Tom Flow, was instrumental in designing the company's efficient large-scale facility in Markham, Ontario. A significant milestone in the company's history was its acquisition by Aurora Cannabis in an all-stock transaction valued at approximately C$3.2 billion, announced in May 2018 and completed in July 2018. This deal created one of the world's largest cannabis companies by production capacity, with facilities in Canada and Denmark capable of producing over 570,000 kg of cannabis annually. Before the acquisition, MedReleaf had established itself as a major player, going public on the Toronto Stock Exchange and reporting annual sales of C$43.6 million for the fiscal year ending March 31, 2018. MedReleaf's business model is centered on the production and distribution of pharmaceutical-grade medical cannabis products to a global client base. The company operates facilities that are ICH-GMP and ISO 9001 certified, ensuring high standards of quality and consistency. Its product portfolio includes dried cannabis flower, cannabis oils, softgel capsules, and topical creams. A strategic partnership with Israeli medical cannabis pioneer Tikun Olam provided MedReleaf with valuable data and genetics, helping to differentiate its product offerings. The company also developed recreational brands, such as San Rafael '71, in preparation for the legalization of adult-use cannabis in Canada. Internationally, the company has expanded its footprint, notably in Australia. Aurora Cannabis initially partnered with MedReleaf Australia in 2017 before acquiring the remaining equity in February 2024 for an enterprise value of AUD$50 million. MedReleaf Australia is a leading distributor in the Australian medical cannabis market, which operates on a clinician-led model similar to other key international markets for Aurora, like Germany. As of 2026, MedReleaf Australia's products are available on Vitura Health's Canview platform, which connects to approximately 4,700 pharmacies nationwide.