InterCure Secures NIS 230 Million Compensation for Nir Oz Facility Damage, Shares Surge

InterCure, an Israeli medical cannabis company, announced on August 10, 2026, that it has finalized a binding compensation agreement with Israeli tax authorities and the national compensation fund. The settlement covers indirect damages caused by the October 7, 2023 terror attack and the subsequent war, totaling 230 million shekels. Originally, InterCure sought over 300 million shekels in damages. Prior to this final agreement, the company had already received 101 million shekels in advance payments.

The terror attack severely damaged InterCure's main cultivation and production facility in Kibbutz Nir Oz, operated by its fully owned subsidiary KanDoc. The destruction halted operations at this critical site, which is central to the company’s genetics, cultivation, and production infrastructure. This disruption significantly impacted InterCure’s continuous production capacity, daily operations, and financial results in recent years.

Since the attack, InterCure has raised over 58 million shekels from key shareholders and a leading pharmaceutical fund to support recovery efforts. These funds, combined with the compensation, have been allocated to rehabilitation and rebuilding processes while maintaining regular product supply to patients in Israel and expanding into international markets.

With the compensation deal completed, InterCure plans to accelerate restoration of the Nir Oz facility to full operational status as soon as possible. This restoration is expected to strengthen production capacity and support the company’s international growth strategy, particularly focusing on expanding medical cannabis supply in the growing German market.

CEO and Chairman Alexander Rabinovitch highlighted the company’s resilience over nearly three years despite the severe operational and financial impacts of the October 7 events. He emphasized the strong demand for InterCure’s products, the robustness of its business model, and the exceptional dedication of its management and staff. Rabinovitch stated, "We are entering a new chapter, moving from recovery back to growth."

Additionally, InterCure noted that global regulatory changes, especially in the United States and Europe, are creating favorable conditions for pharmaceutical-grade cannabis companies. These regulatory shifts provide a significant tailwind for expanding operations in the coming years.