Althea Group (ASX:AGH)
- CEO:Joshua Fegan
Althea Group (ASX:AGH) Stock Price
Althea Group (ASX:AGH) Company Overview
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
Althea Group (ASX:AGH) Financials
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Fegan also founded Althea Health and Wellbeing in 2016—coinciding with registration of the ND Amendment Act, an Act to amend the ND Act, legalizing medicinal cannabis—and previously held a number of senior management roles at national value-based retailer, Strathfield Group.
Meissner started his career in private practice, before gaining experience in a number of roles and industries, including Advertising, Construction and Entertainment. He is also a Certified Practising Accountant.
Prior to her role at MDGH, she worked with Gilead Sciences Australia, preparing patient and health-care professional facing materials for drugs launched in the Australian market. Holmes has also worked in New York as the Director of International Sales for SLM International Inc.