MariMed focuses primarily on three aspects of the marijuana market. The company develops and operates medical cannabis production facilities that it leases to customers. MariMed provides professional consulting services to help businesses obtain state licenses to operate in the cannabis market. It also distributes its own lineup of cannabis products.
The company has developed cannabis production facilities in five states: Delaware, Illinois, Nevada, Maryland, and Massachusetts. Arcview Market Research and BDS Analytics project that combined annual marijuana spending in these states will total nearly $2.8 billion by 2022. Massachusetts is one of seven states the firms think will claim cannabis markets exceeding $1 billion annually within the next four years.
But MariMed isn't limiting its vision to just these states. The company's CFO, Jon Levine, recently stated that MariMed has "laid the groundwork for opportunities in Pennsylvania, New Jersey, Michigan, Florida, and Ohio." These five states represent an estimated combined marijuana market of around $4 billion annually by 2022. Like Massachusetts, both Florida and Michigan could each have markets of at least $1 billion.