U.S. markets open in 9 hours 5 minutes
  • S&P Futures

    4,431.25
    -1.75 (-0.04%)
     
  • Dow Futures

    34,778.00
    +35.00 (+0.10%)
     
  • Nasdaq Futures

    15,152.00
    -42.75 (-0.28%)
     
  • Russell 2000 Futures

    2,281.70
    +4.70 (+0.21%)
     
  • Crude Oil

    76.09
    +0.64 (+0.85%)
     
  • Gold

    1,749.80
    -2.20 (-0.13%)
     
  • Silver

    22.62
    -0.07 (-0.33%)
     
  • EUR/USD

    1.1697
    -0.0004 (-0.04%)
     
  • 10-Yr Bond

    1.4840
    +0.0240 (+1.64%)
     
  • Vix

    18.76
    +1.01 (+5.69%)
     
  • GBP/USD

    1.3707
    +0.0003 (+0.02%)
     
  • USD/JPY

    111.1900
    +0.2120 (+0.19%)
     
  • BTC-USD

    42,755.21
    -1,249.73 (-2.84%)
     
  • CMC Crypto 200

    1,060.19
    -41.33 (-3.75%)
     
  • FTSE 100

    7,063.40
    +11.92 (+0.17%)
     
  • Nikkei 225

    30,096.40
    -143.66 (-0.48%)
     

Canada's Largest Private Union To Cover Medical Cannabis Via Aleafia Deal

·1 min read

Canadian cannabis company Aleafia Health (TSX: AH) (OTCQX: ALEAF) has partnered with trade union Unifor.

The goal is to “support union members, retirees and their eligible dependents who receive medical cannabis insurance coverage through Unifor’s collective bargaining agreements.”

Unifor, Canada’s largest private union, has more than 300,000 members and represents workers at the big three automakers concentrated in Ontario. 

Aleafia will serve union members and their families through its network of medical cannabis clinics, products, and scheduled same day delivery, according to Aleafia CEO Geoffrey Benic.

While patients currently pay out of pocket for medical cannabis, Benic says this is changing, as employers are now realizing the benefits of medical cannabis as an alternative to traditional pharmaceuticals. 

“What we’re most excited about this development is that it plays to our strengths as patient focused company and builds a defensible moat around around our business," he added. "Obviously the adult-use market gets the most attention, but we think that medical cannabis has been largely overlooked and we will capitalize on that opportunity."

Having union members at Canada’s largest employers receive insurance coverage for cannabis is "an important breakthrough in access," Benic says, believing it benefits patients as well as Aleafia's continued growth.

Find out more about GM and Ford's collective bargaining and medical cannabis.

Photo: an Aleafia facility.

See more from Benzinga

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.