Marimed Inc. has completed the acquisition of Delaware’s first state compassion center (FSCC) in accordance with the previously announced Omnibus agreement concluded with the FSCC in July 2023.
The acquisition has integrated the FSCC cultivation and processing facilities and two pharmacies into Marimed’s fully vertical operation.
To approve Marimed’s ownership of FSCC, the state has allowed the FSCC to move from a nonprofit to a for-profit business. Marimed says the timing is ideal as Delaware is expected to start selling adult cannabis later this year.
Marimed and the FSCC have been working together since 2014 since Marimed began providing management and real estate services to FSCC, supporting the FSCC to secure the original Cannabis license. FSCC distributes Marimaid’s Delaware brand portfolio.
With this development, Marimed has now completed acquisitions of previously managed companies in Massachusetts, Illinois, Maryland and Delaware.
“We are thrilled to welcome FSCC into the Marimed family,” said John Levine, CEO of Marimed. “We have worked closely with the incredible FSCC team to support our growth trajectory from the start. As a result, we have become the top operator of Delaware today. We hope that by fully integrating operations, we will further build dominance in the FSCC and brand markets and improve our balance sheet.”
