Liberty Health Sciences (CNQ: LHS) was one of the first cannabis companies to offer flower products in Florida. As its footprint has grown – it now operates 16 dispensaries – it has been able to capitalize on its distribution channels and forward-thinking business model to become a leader in the cannabis industry. As it continues to ramp up operations in the Sunshine State, it is now the second-highest-ranked cannabis company in Florida in terms of flower sales.
Florida lawmakers passed Senate Bill 182 (SB 182) this past March, paving the way for smokable medical marijuana products to be offered to Floridians. Now that the market is beginning to see substantial growth, Liberty Health’s Liberty and Papa’s Herb brands are seeing substantial success and the company continues to increase brand awareness as it rolls out new products and attracts new customers.
SB 182 authorizes up to 2.5 ounces of whole flower to be received by qualified medical marijuana patients every 35 days. As of a week ago, there were 246,079 qualified patients in Florida, according to the Office of Medical Marijuana Use. The bill, in conjunction with Florida Amendment 2 from a few years ago, authorizes cancer, epilepsy, AIDS, HIV, PTSD, glaucoma, Crohn’s Disease and more as qualifying conditions.
Of the sales accomplishment, Liberty Health interim CEO Victor Mancebo states, “Our outstanding results are directly driven by the strategy that we have been implementing. This is a very proud moment for the Liberty team as we outranked other MMTC’s in Florida. Most importantly, we continue to provide all Florida patients the medicine that they are seeking. As we aggressively continue to grow our footprint and product portfolio, we expect to amplify our results and progressively increase the offerings for our patients.”
Liberty Health’s footprint continues to get bigger. In addition to the 16 dispensaries in the state, three more are expected to be added next month in Orlando, Pensacola and Panama City.