WeedMD, a licensed marijuana producer in Ontario, has signed a deal to serve as the “preferred supplier” of cannabis oil to three long-term care and retirement community operators.
The Aylmer company said the deal reflected its efforts to capitalize on a Canadian market where a growing number of senior citizens are considering MMJ as a treatment option, according to CBC News.
WeedMD’s biggest deal is with People Care Communities, which runs seven care homes in southwestern Ontario, the news outlet reported. The other two deals are with individual nursing homes in Belleville and Kingston.
Among them, the three operators have more than 1,000 long-term care beds, according to CBC News.
A WeedMD spokesman stressed that residents of those care homes would be free to purchase medical cannabis oil from other suppliers.
The agreement is significant because the senior demographic is becoming increasingly important for MMJ businesses.
In February, for example, Etain Health of New York landed a contract with a Bronx nursing home operator to provide its residents with MMJ products.
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