WeedMD buys insurance-covered pot provider in $78-million deal

  • A Southwestern Ontario pot producer is acquiring a union-backed cannabis company that supplies insurance-covered medicinal marijuana to its members.
  • WeedMD, a licensed producer with operations in Strathroy and Aylmer, entered an acquisition agreement with Starseed, a Toronto-based company backed by the Laborers’ International Union of North American (LiUNA), WeedMD chief executive Keith Merker said in a conference call with investors Friday.
  • Starseed doesn’t cultivate cannabis, but it has struck an industry-first partnership with LiUNA, Canada’s largest construction union, to provide prescription pot as a fully-covered drug benefit to its more than 100,000 members.

Read full article: lfpress.com