Cannamedical® Pharma GmbH, the leading independent brand in Germany’s fast-growing medical cannabis market, announced today the first closing of a new 12M€ strategic investment round and the addition of Steve Wiggins to the Company’s Board of Directors. Mr. Wiggins is one of the most successful American healthcare entrepreneurs, with a long history of starting and building businesses that have become leaders in their health sectors. The Company will use this investment capital for key strategic growth initiatives including domestic and European expansion to promote its market-leading product portfolio.
Cannamedical® has combined world class quality products, a uniquely effective market access strategy and a laser-focus on customer service, uniting industry leading medical, quality assurance and healthcare specialists in the effort to help providers and pharmacists provide important medicine to patients. In addition, the Company has built the most advanced supply chain in the European medical cannabis sector, with its supplier network consisting of numerous partners on three continents. This approach has enabled the Company to provide world class product quality, selection and stability, and to drive continued strong growth, even in times of uncertainty such as the current situation.
“Cannamedical® attracted me because of their young, mission-driven leadership team and their commitment to product quality. I believe the human endocannabinoid system holds a key to addressing a wide range of diseases and conditions. Cannamedical® is a unique business and has a generational opportunity. I am excited and honored to be part of their journey as a Board Director and investor”, said Steve Wiggins.
“I am proud of the hard work of every member of the Cannamedical® team. Through their passion, we are in a stronger position than ever to build Cannamedical® as a leader in the European medical cannabis industry” said David Henn, founder and CEO of Cannamedical® Pharma. “With his decades of experience helping develop new markets for medical solutions, Steve is a perfect fit as an investor and Board Director.”
Mr. Wiggins has over 30 years of experience launching and managing healthcare companies and has founded nine healthcare companies including Oxford Health Plans, which grew into a Fortune 300 company under his leadership. Most recently, Steve built Remedy Partners into the world’s largest bundled payment network, with current throughput in excess of $7 billion. Steve was also a Managing Director of Essex Woodlands Health Ventures, one of the oldest and largest U.S. healthcare venture capital and growth equity firms. He presently manages a family office, making investments globally in the health care industry.
With the addition of Mr. Wiggins, Cannamedical’s® Board of Directors now consists of Mr. Wiggins, Mr. Henn, Jesse Du Bey of Orkila Capital and Fabian Thylmann of SN-Invests.
Cannamedical® is the leading independent specialty pharmaceutical cannabis products Company in Europe. We believe that the human endocannabinoid system holds the key to providing millions of patients with wellness solutions and are committed to bring the best Cannamedical®-branded products to patients, providers and pharmacists to increase quality of life.Cannamedical® focuses on helping patients with chronic illnesses by importing and processing only the highest-quality medicinal cannabis products and by supplying ~2,500 pharmacies and clinical facilities. In addition to providing medicinal cannabis products of the highest standards, Cannamedical® focuses on providing critical information to medical and customer service professionals. Our production partners worldwide comply with the highest pharmaceutical quality standards – the EU-GMP guidelines (European Good Manufacturing Practice). As a GDP-certified (Good Distribution Practice) company, Cannamedical’s® entire supply chain is guaranteed, from the agricultural environment all the way to the pharmacy. Cannamedical® Pharma GmbH was founded in 2016 and employs approximately 50 employees in Cologne. In addition, Cannamedical® operates subsidiaries in Canada and the UK. For more information, visit www.cannamedical.com.