MariMed has announced that the Massachusetts Cannabis Control Commission (CCC) approved ARL Healthcare to commence operations at its Cultivation and Production facility in New Bedford and its Dispensary in Middleborough. "These facilities have been fully completed and preliminarily approved to open," the team with the company explains. "State approved staff has been hired. Operations in New Bedford will commence immediately and at its Middleborough Dispensary under its new retail brand “Panacea Wellness” in the next few weeks. ARL Healthcare Inc., a wholly owned MariMed entity, holds these licenses and two additional dispensary licenses in Massachusetts that it plans to open in the next year."
“We are delighted to have been approved to open our cannabis operations in Massachusetts,” noted Tim Shaw MariMed COO, who has led the Massachusetts licensing process. “We will now introduce our proprietary genetics and strains under our flower brand Nature’s Heritage™ into the emerging Massachusetts marketplace, as well as our own infused product brands Betty’s Eddies™ and Kalm Fusion™, and our licensed brands, The Healer, Binske, Tikun Olam, and Tropizen.”
Over 60,000 patients are enrolled in the state medical program. The recent Marijuana Business Factbook estimates 2019 recreational sales in Massachusetts will be in the range of $450 million to $500 million. Market analysts at the Brightfield Group project the recreational cannabis market in Massachusetts will exceed $2 billion annually by 2023, with medical use growing to $125 million in the same period.
MariMed CEO Bob Fireman added, “Our Panacea Wellness Dispensary in Middleborough will raise the bar on the retail experience for our cannabis patients with our educational programs and digital libraries. Patient service will be efficient with available digital tablets for ordering and expedited sales. Our New Bedford production facility provides state-of-the-art horticultural standards and will enable us to introduce our market-leading family of products to the entire state, enhancing the level of quality and providing greater choice to cannabis patients. Massachusetts is an important state in our overall plans to roll up our licensed clients and their revenue into the public company. We expect to begin reporting financial results from these facilities beginning in the fourth quarter of 2019.”