If you seek evidence that Florida’s medical marijuana industry is set to zoom, look no further than eastern Polk County.
In January, GrowHealthy, the Lake Wales company that was among the first to seek a state license to deal medical weed, was sold to New York-based iAnthus Capital for $48 million in cash and stock options.
The amount was hefty, but apparently worth it, as iAnthus explained in its press release announcing the sale. The firm cited a report by Arcview Market Research that projected in 2020, barely three years after the state stumbled its way through creating the industry’s regulatory framework, sales of medical pot in Florida will top $1 billion. IAnthus also noted that the state registry of eligible medical marijuana patients had tripled over the second half of 2017 — and envisioned banking serious coin from the country’s third-largest state that also is home to a significant elderly population.
“Florida is really going to be our number one operation, in terms of size and everything else,” iAnthus President Randy Maslow, whose company operates marijuana outlets in Massachusetts,