Columbia Care Inc. (OTCMKTS: CCHWF) Completes CannaAscend Acquisition

Columbia Care Inc. (OTCMKTS: CCHWF) has completed the acquisition of CannAscend following the announcement of a purchase option agreement back in 2018. Ohio-based CannAscend owns and operates four dispensaries in Logan, Monroe, Marietta, and Dayton. 

Columbus Care integrates CannAscend in a bid to enhance operations

Together with its Mt Orab facilities (acquired in 2021, Warren (recent gLeaf dispensary acquisition, and Columbus (acquired in 2021) and the acquisition of CannAscend will improve the company’s vertically integrated operations. Also, the integration brings the company to the legal dispensary limit to be among the most scaled operators in the state. 

Columbia Care CEO Nicholas Vita said, “Ohio is a key state, currently a top-five market for Columbia Care, with year-to-date state sales up more than 110 percent year-over-year and annualized runrate sales of more than $370 million for 2021. We are thrilled to be able to affirm our leadership presence in Ohio with the completion of this acquisition.”

Vita added that the combination of the company’s state-of-the-art facilities and CannAscend’s footprint would have a positive financial impact on Columbus Care. He added that they are honored to serve medical marijuana patients in Ohio, where the number has grown to over 200,000 patients. 

Columbia Care launches Forage discovery solution. 

Recently the company launched Forage, a cannabis discovery solution looking to customize and streamline the shopping experience for novice and expert patients alike. The interactive web-based platform recommends curated products as per the customer’s needs, syncing with the local dispensary’s pricing and inventory to facilitate online orders. 

Vita said that at Columbus Care, they strive to create innovative ways of enhancing the individuality and durability of customer experience and ensure products offer the highest satisfaction and relevance. He added that Forage is a chance to convert the company’s point of sale and online experience into customized experiences for patients.