Heralding a new dawn in the global medicinal cannabis story as Cannaray Limited and Aqualitas Inc. sign definitive merger agreement to create Wellford Medical Limited
- Vertically integrated from seed to patient, Wellford is on a mission to revolutionise the medicinal cannabis industry and to distribute the highest quality, organically certified, aquaponic, non-irradiated, EU GMP cannabis products
- Appearing at Cannabis Europa this June, Wellford will be available for the duration of the summit, welcoming guests to stop by their boot
- With £40m worth of sales in 2023, Wellford is forecasting £60m in 2024 with big plans to make waves in the cannabis marketplace this year and beyond
Wellford is the only company globally that will supply organically certified, aquaponic, non-irradiated and EU GMP medicinal cannabis for sale in the UK and Germany. The unique and proprietary aquaponics growing process, created by their merger partner Aqualitas, combines living water, powered by koi fish, and living soil to create cannabis product offerings with enhanced potency, terpene profiles and very low microbial, yeast and mould counts. The merger marks an exciting moment in the European medicinal cannabis sector, emphasising the commitment of both companies to provide high-quality and consistent cannabis products for patients in need. To assist with ease-of-access for patients in Germany, Therismos GmbH (a Wellford company) executed a transformational category growth partnership with Alliance Healthcare GmbH (a Walgreens Boots Alliance company), for medicinal cannabis supply and pharmacist education for their 4,000 affiliated pharmacies.
Wellford will launch at Cannabis Europa London (June 25th & June 26th 2024) – the premier conference for the emerging European cannabis industry, to showcase the vision and commitments of the company. The launch comes at a pivotal moment for the industry, with the demand for medicinal cannabis reaching an all time high. Germany has just approved legislation (1 April) to legalise cannabis and this is expected to grow the market exponentially. The near-term medical market in Germany could be worth anywhere from €1.74bn – €4.5bn based on recent research**. In the UK the market size is currently around 35,000 patients but a recent YouGov.co.uk poll suggests there are 1.8 million people medicating daily with cannabis from the black market. Wellford’s medical cannabis business in the UK recorded 10x growth YoY in April of 2024.
Wellford is determined to be part of a future where medicinal cannabis is seamlessly integrated into the European and UK healthcare system, offering natural, effective relief for patients in need. Wellford aims to be the leading advocate for education and awareness, illuminating the profound benefits of medicinal cannabis for healthcare professionals and the public alike.
The brand will have its own space at Cannabis Europa that attendees can visit to learn about Wellford and Aqualitas. Taking place at London’s Barbican Centre, Cannabis Europa will be a groundbreaking exploration of the latest regulatory advancements and investment opportunities in this burgeoning sector.
Myrna L. Gillis, CEO of Aqualitas, remarks, “This merger with Cannaray/Wellford is a significant milestone, reflecting our dedication to excellence in manufacturing clean, consistent, and safe medical cannabis products. Together, we share a vision for pure wellness and global expansion.”
Scott Maguire, CEO of Wellford, shares Myrna’s excitement for the future: “Aqualitas and Wellford have a shared passion for providing the European patient community the highest quality and most effective therapies while ensuring ease of access, direct to the patients’ home in the case of the UK or via the local pharmacy in case of Germany. We are excited to launch Wellford’s vision at Cannabis Europa this month.”
Dr Av Singh, Chair of Wellford’s Scientific Advisory Board, says on the cleanliness of Aqualitas product: “Aqualitas’s ability to produce a cannabis flower that meets the strict standards of microbial limits without irradiation speaks to their care in cultivation and the power of living soil with aquaponics.”
