MariMed Completes Acquisition of Medical Cannabis Operator Ermont
MariMed, Inc announced that it has acquired the operating assets of Ermont Inc., a vertically integrated medical cannabis operator located in Quincy, Massachusetts. The closing of this transaction is the result of a successful restructuring conducted by Ermont’s court-appointed receiver Opus Consulting Partners LLC. Opus Consulting and MariMed negotiated this transaction with court approval. The acquisition marks the second medical dispensary for MariMed in Massachusetts, completing MariMed’s buildout to the maximum allowable by state regulations. The transaction closed on March 9, 2023, and the dispensary began operations under the Panacea Wellness brand name the following day. This... Read More »
Alfresa Holdings Corp Purchases Miyazaki Onsendo Shoten
Alfresa Holdings Corp. announced that it purchased Miyazaki Onsendo Shoten for an undisclosed price. Alfresa has acquired all outstanding common shares of Miyazaki Onsendo Shoten to make it its wholly owned subsidiary. Houlihan Lokey, Inc. acted as an advisor to Alfresa Holdings. Alfresa Holdings Corp. is a Japan-based holding company primarily engaged in the wholesale of drugs. Alfresa is one of the largest pharmaceutical wholesalers in Japan, with sales of approximately ¥2,586 billion ($23 billion USD) and EBITDA of approximately ¥42 billion ($373 million USD) as of FYE March 2022. Miyazaki Onsendo Shoten was established in 1927 and is headquartered in Nagasaki, Japan. It is a wholesaler... Read More »
DocMJ Acquires Medwell Health and Wellness Centers in Medical Marijuana Deal
DocMJ has acquired Medwell Health and Wellness Centers. The headquarters for DocMJ and Medwell will be in Clearwater, Florida, where DocMJ has operated since 2016. Medwell Health and Wellness Centers will continue to operate under its current brand name, which has been recognized by patients in Massachusetts since 2015. Terms of the deal were not disclosed. Medwell Health and Wellness Centers are medical cannabis evaluation clinics serving patients in Massachusetts and Florida. DocMJ is a medical marijuana physician practice that has provided more than 350,000 patient visits. DocMJ serves patients in Florida, Texas and Ohio. According to data captured in the LevinPro HC database, this... Read More »
Ascend Wellness Holdings Acquires Maryland Assets of Devi Holdings
Ascend Wellness Holdings (AWH) has acquired the Maryland assets of Devi Holdings, Inc. Upon closing of the agreement, AWH will acquire 100% of the membership interests of Devi’s Maryland dispensaries and related real property holding companies for $19 million, $12 million of which will be paid in cash, and $7 million, or 5.19 million shares, in Class A common stock. Devi Holdings owns and operates four licensed medical marijuana dispensaries in Aberdeen, Crofton, Ellicott City and Laurel, Maryland, under the names Nature’s Medicines and True Wellness. Ascend Wellness Holdings is a cannabis company with assets in Illinois, Michigan, Ohio, Massachusetts, New Jersey and... Read More »