N.M. MEDICAL CANNABIS PROVIDER HITS MILLIONTH GRAM MILESTONE

Patient given free medicine for one year for buying Ultra Health’s millionth gram of flower

July 31, 2017 13:30 ET | Source:  Ultra Health : globalnewswire

Albuquerque, NM, July 31, 2017 (GLOBE NEWSWIRE) -- Ultra Health, New Mexico’s No. 1 cannabis company with a nationwide presence, is celebrating its millionth gram of cannabis flower sold in New Mexico by providing one patient with free medicine for one full year.

The patient, from Ultra Health’s Albuquerque Westside location, will receive up to 10.5 grams of medical cannabis flower per week for 52 consecutive weeks to commemorate the provider’s milestone achievement.

“It’s taken nearly five years to reach this historic milestone, and we expect several of our competitors will be following suit as the industry continues to expand rapidly,” said Duke Rodriguez, CEO and President of Ultra Health ®. “Given our increased patient demand and overwhelming response to our first millionth gram sold, we expect to sell our second millionth gram by Fall next year. We look forward to again extending free medicine for a year to another deserving patient.”

The weekly flower award was determined from the adjusted medical patient consumption average estimated by the "Medical Cannabis Survey 2013" produced by the New Mexico Department of Health ( NMDOH ) of 9.7 grams per patient per week and "The Medical Cannabis Market in New Mexico" report of 2016 produced by O'Donnell Economics and Strategy of 10.3 grams per patient per week.

The free medicine award for one year will be subject to the patient’s existing limits and product availability.

Currently, Ultra Health employs more than 50 New Mexicans at its seven dispensary locations across the state and its single cultivation site in Bernalillo and is one of the few cannabis operators to offer health insurance for full-time employees.

The provider was recently named Albuquerque Business First’s top medical cannabis company, generating $4.9 million in sales in 2016. Ultra Health’s revenues for the first six months of 2017 has already reached $4.3 million, an increase of 130 percent over the same period in 2016. The company was also nominated as a finalist for Albuquerque Business First’s Best Places to Work.

New Mexico’s Medical Cannabis Program has seen rapid, unprecedented growth in 2017 with patient enrollment at 44,403 as of June 30, 2017, an increase of 15,357 patients or 53 percent since January 1, 2017.

Attachments: 

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/350116de-c5b9-4a0f-9ddd-2c3a3f94d8c3

Attachments: 

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/634198e5-2028-4e47-8cc0-84bb1ab9fa7a

Marissa Novel
Ultra Health
480-404-6699
marissa@ultrahealth.com

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