- CEO:Joshua Fegan
The Althea Group's (ASX: AGH) mission is to corner the market on the importation, cultivation and supply of medical cannabis for patients Australia-wide.
After an IPO that saw the company raise $19.65 million in funding, it has since managed to push its' initial market capitalisation of $40.6 million all the way to $121.8 million. This puts it in the same league as some of the industry's biggest players, including AusCann and the Cann Group.
The Melbourne-based company has a three-stage business strategy focused on sales driven growth, scalable domestic production, and early revenue generation. It also intends to pursue strategic partnerships with companies such as the Canadian low-cost medical cannabis producer Aphria (TSE:APH), which owns a 25% stake in Althea.
Since Althea was founded in 2017 it has already managed to get five branded medicinal products on the market. Its' dedication to patient care also led to the development of the Althea Concierge, a web-based platform and mobile application intended to support access to medicinal cannabis.
Althea recently entered the UK and is already gaining traction in what will be a very large medicinal market.
- Address:360 Elizabeth Street, Suite 2, Level 37, Melbourne, VIC 3000, Australia
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