This market is among the most restrictive and does not allow for smokeable flower, the most popular choice amongst consumers. Add in a hefty $146K annual fee, a scarce patient population, and operators have traditionally struggled to find interest. A light at the end of the tunnel has appeared, in February 2021, the House Commerce Finance and Policy Committee approved a cannabis legalization bill that’s sponsored by the majority leader and speaker. Don't get too excited, the legislation is set to go through up to a dozen panels before hitting the floor.
There is no notable activity at this time.
Watch for the medical market to expand as the current structure makes profitability very challenging. We do not expect significant investment or acquisitions in the near-term.
*Two vertically integrated licenses who were each required to open four dispensaries for a total of eight dispensaries across the state.