Cosmos Health buys additional $500,000 in ethereum

Cosmos Health Inc. (NASDAQ: COSM) purchased an additional $500,000 worth of ethereum, bringing its total investment in the cryptocurrency to $1.5 million, according to a company statement.

The healthcare company made the purchase under its previously announced $300 million digital assets facility. The Chicago-based firm said the acquisition is part of a strategy to diversify its balance sheet and incorporate blockchain technology into healthcare and digital wellness sectors.

"We are pleased to continue our Ethereum purchases and reiterate our commitment to fully leveraging our $300 million financing facility," said Greg Siokas, chief executive officer. "We are already seeing gains from our earlier Ethereum investments, and with increased usage and adoption, we believe there is potential for further appreciation."

Cosmos Health operates as a diversified healthcare group that owns pharmaceutical and nutraceutical brands including Sky Premium Life, Mediterranation, bio-bebe, C-Sept and C-Scrub. The company manufactures pharmaceuticals, food supplements, cosmetics, biocides and medical devices through its European Union-based subsidiary Cana Laboratories S.A.

The company distributes pharmaceuticals and parapharmaceuticals to retail pharmacies and wholesale distributors through subsidiaries in Greece and the United Kingdom. Cosmos Health has also expanded into telehealth through its acquisition of ZipDoctor Inc., based in Texas.

The information was provided in a press release statement from the company.

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