GrowHealthy plans to open its sixth store in the state on August 5, which will serve the Miami-Dade County population of approximately 2.7 million. The 4,000 square foot store will be located at 13400 Biscayne Blvd, North Miami, FL 33181. The Grand Opening celebration is planned for August 9-11 and details will be posted at www.growhealthy.com.
GrowHealthy has also recently increased the cultivation capacity at its 33-acre Lake Wales campus. The Company’s cultivation facility now has approximately 120,000 square feet in operation, approximately 70,000 square feet of which is in a lower-cost cultivation environment. This expansion in capacity will allow GrowHealthy to accelerate its store openings to serve the important Florida market without compromising patient service, product availability or quality.
Florida is among the fastest growing medical marijuana markets in the United States and continues to grow robustly. According to the July 26, 2019 weekly update from the Florida Office of Medical Marijuana Use (“OMMU”), Florida now has 248,000 qualified patients, up 132% year-over-year. The current patient base represents 1.2% of the Florida population.
According to the OMMU data, GrowHealthy ranks third in terms of THC mgs sold per dispensary of the 22 licensed operators. Since the OMMU initiated the publication of sales volume data as of May 10, 2019, GrowHealthy has increased its weekly THC mgs sales volume by 60% and increased its market share to 3%.