The executive has been the company’s interim CEO since last December
Andy Williams has proven he has the chops to lead Medicine Man Technologies, a cannabis consulting firm out of Denver, CO. He became the company’s interim CEO last December after the sudden death of Medicine Man CEO Brett Roper and has overseen several key deals since then. Because of his stellar performance, Williams is now officially the full-time CEO of the company.
Williams has already supervised transactions tied to MedPharm Holdings LLC and Medicine Man Denver. The MedPharm deal is expected to close this June and the combined companies are predicted to have a revenue run rate that tops $40 million.
The executive states, “As Co-Founder of Medicine Man, I am extremely proud of the brand we have built and where we are today. These are exciting times as we move toward our ultimate goal of becoming a vertically integrated cannabis operator. I am honored to continue Brett’s legacy by leading Medicine Man Technologies’ future growth and our long-term success.”
The Medicine Man Denver acquisition will see four retail shops and a cultivation space measuring 40,000 square feet come under the Medicine Man Technologies umbrella. The deal is still pending, but, if approved, will bring around $25 million in additional revenue to the company. That deal will only be possible of Colorado agrees to allow publicly traded companies to own and operate cannabis licenses.
The MedPharm acquisition will bring the only cannabis research license issued for the development of pharmaceutical-grade products to Medicine Man. That license will facilitate the extraction, testing and formulation of cannabis to possibly treat a variety of diseases, including dementia and Alzheimer’s.