$NDEV Grows Its MMJ and Alternative Medicine Footprint

In this article, we’ll take a closer look at some of these developments and where the company is headed over the coming quarters.

Provider Network Continues to Grow

Novus has expanded its long time Provider Network from Arizona and Colorado to now include Detroit, the Greater San Francisco area and Southern California.

Charlotte’s Web Update

Novus got approval from CB Botanicals and the Realm of Caring to offer its patient member base Charlottes Web, a low tetrahydrocannabinol (THC), high cannabidiol (CBD) cannabis extract. Novus patients can receive 5,000 milligrams for $695, representing a discount of 30%, a significant savings when considering the regular monthly use of the product to treat epilepsy in children.

Novus MedPlan Goes Live

Novus MedPlan officially launched its online platform on March 30th to connect medical marijuana and alternative medicine patients with participating dispensaries and providers through a seamless, real-time, and easy-to-use interface. By joining the network, members will have access to a large and growing provider network offering cost savings of 20% or more on over 1,000 products and services.

The platform has been built atop the Proteus420 dispensary management platform, which is the only real-time, fully-featured business solution that has been created specifically for the medical marijuana industry. Through the platform, patients can peruse various location, inventory and pricing before joining, quickly sign-up using valid MMJ permits, and select products with convenient pickup and delivery options.

For dispensaries, the platform enables easy monitoring of inventory, as well as the ability to change prices, adjust inventory levels, and load additional inventory within minutes. HIPPA-compliant data security, controlled employee access, and easy integration with other software platforms ensure that the solution can be conveniently added to existing business operations without a hitch.

Growing Consumer Demand

Novus has also been extremely active in creating awareness of the Novus MedPlan among potential users and establishing distribution channels to drive sign-ups. Priced at just $19.95 per month, the company’s program provides a compelling benefit to medical marijuana and alternative therapy patients, especially since the full costs can be recouped in just weeks with 20%+ discounts.

In February, the company signed an insurance sales agency contract with Senior Healthcare Benefits Group to market Novus MedPlan to registered medical marijuana patients in the state of Arizona in exchange for a flat 25% commission. With an outstanding application to expand sales into California, distribution channels like these could drive significant sign-ups over the coming quarters.

The company has also been generating a lot of press attention. In April, Novus MedPlan was featured in an editorial posted on the popular WeedMaps website, which has over 680,000 registered members and 10 million monthly page views. Exposure like this could help increase awareness of the Novus MedPlan with the MMJ patient population and ultimately drive sign-up growth over time.

Looking Ahead

The legal cannabis industry could reach as much as $21 to $35 billion by 2020, according toGreenWave Advisors, creating an enormous opportunity for numerous companies in the space. Some investors have focused on established companies, like GW Pharmaceuticals plc(NASDAQ:GWPH), while others have taken positions in smaller players, like Hemp Inc. (HEMP).

Those looking for heightened exposure, near-term revenue, and a unique niche with limited competition may want to take a look at Novus Acquisition & Development Corp. (NDEV). With a market capitalization of $8.7 million, the company may be significantly undervalued given its future potential. The stock also has a number of near-term catalysts as it continues to grow its membership base.

The company may also be interesting to investors in the traditional healthcare insurance space, including companies like Magellan Health Inc. (NASDAQ:MGLN) or Universal American Corporation (NYSE:UAM). In some cases, these investors may benefit from diversifying into a smaller company in a new burgeoning segment that’s currently out-of-reach for many existing companies in healthcare insurance.

For more information, visit the company’s website at www.ndev.biz.

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SOURCE: Cannabis Financial Network