Jonathan Conforti, Abacus' vice president of corporate development, told attendees how the family of Abacus products is helping scale sustainability, trust and uniformity in the cannabis-based health space.
Abacus’ goal is to use CBD hemp extract as a conduit to deliver pain relief products throughout the world.
Abacus Health Products' Beginnings
Launched in 2014 by Aidance Scientific, a manufacturer of broad-spectrum antimicrobial technology for dermatological uses, Abacus is an OTC-listed company that distributes products blended with CBD hemp extract and oil to health practitioners under the CBD CLINIC and CBDMedic brands.
The CBD CLINIC brand is sold to licensed health and wellness practitioners across 14,500 clinic and practitioner offices. The CBDMEDIC brand is sold direct to consumers at retail locations across 31 states.
On Nov. 21, Abacus announced it received a purchase order from a national pharmacy chain in the United States.
Now, the firm will deliver products from its CBDMEDIC line to an additional 2,400 locations.
“The addition of this national chain marks an important milestone as our products will now be sold by the three largest retail pharmacy chains in the United States. This is a huge win for Abacus and its consumer product line, CBDMEDIC,” Abacus CEO Perry Antelman said in a statement. “The recent announcements we’ve made regarding retail store growth are indicative of the inflection point we’ve been waiting for.”
CBDMEDIC will now be available in over 7,000 locations, according to Abacus. The company said it will expand its market penetration in coming quarters as it rolls out its product at additional locations.
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