Mamedica Secures £4.5 Million to Expand Cannabis Care in UK
Mamedica Receives Major Investment to Enhance Services
The landmark funding will significantly enhance access to cannabis-based healthcare as the UK market approaches a £1 billion valuation, allowing Mamedica to potentially support 100,000 patients.
Mamedica, recognized as a leading provider of cannabis-based prescription medicines, has announced a successful £4.5 million funding round led by Casa Verde, a prominent US-based cannabis venture capital firm. This latest investment underlines the growing confidence in the UK cannabis market, which is poised for remarkable expansion.
Utilization of Funding to Scale Operations
This funding will play a pivotal role in scaling Mamedica's operations. The capital will be directed towards optimizing its in-house supply chain, ensuring both efficiency and continuity of care, thus making it easier for patients to access requisite treatments.
Expanding Clinical Network
Mamedica plans to enhance its clinical network, providing patients across the UK with greater accessibility to its services. Additional investments will also focus on the development of their proprietary digital healthcare platform, which is set to include upgraded automation and improved compliance capabilities.
Driving Education on Medical Cannabis
In addition to enhancing access, Mamedica is committed to educating both healthcare professionals and patients about the benefits of integrating medical cannabis into conventional healthcare systems, ensuring that the transition is well-informed and beneficial for all parties involved.
Growth and Patient Care Model
Since its inception in 2022, Mamedica has quickly established itself as a trusted name, delivering specialized treatment for various chronic and neurological conditions such as pain, anxiety, ADHD, and depression. The innovative digital model allows for remote consultations with specialist clinicians, ensuring that quality care is both efficient and accessible nationwide.
Impressive Growth Statistics
To date, Mamedica has provided care to over 10,000 patients, with about 7,500 actively receiving treatment and witnessing a remarkable month-on-month growth of approximately 10% in initial consultations. The statistics reveal a staggering 1,250% growth in patient numbers during 2023, with an additional 154% increase projected for 2024. The outlook remains bright as Mamedica anticipates continuing this momentum, aiming to double its patient base annually in alignment with the UK medical cannabis industry's projected growth as it approaches £1 billion in annual sales by 2028.
Leadership Perspectives
“We are thrilled to form this partnership with Mamedica as the UK cannabis market is set for rapid advancements,” stated Karan Wadhera, Managing Partner at Casa Verde. “Mamedica’s pioneering digital-first, patient-focused model exemplifies excellence in care and serves as a model for potential growth throughout Europe.”
Jon Robson, CEO and founder of Mamedica, expressed his enthusiasm, saying, “This funding is a critical milestone in our mission to revolutionize patient care in the UK. The support from Casa Verde and our private investors reinforces our belief in our strategy and enables us to expand access to high-quality, regulated cannabis-based treatment.”
About Mamedica
Mamedica is a forward-thinking digital healthcare platform that provides patients in the UK access to cannabis-based prescription medicines tailored to various conditions, including pain management, psychiatric support, and palliative care. Following secure video consultations, patients receive their medications dispensed and delivered via next-day courier services. Since its establishment in 2022, Mamedica has emphasized superior patient care, safety, and satisfaction, leveraging proprietary technology along with experienced clinicians and pharmacists to ensure optimal outcomes for its patients.
Frequently Asked Questions
What is Mamedica's primary objective?
Mamedica aims to provide patients with access to cannabis-based prescription medicines through a digital healthcare platform.
How much funding has Mamedica secured?
Mamedica has successfully raised £4.5 million to enhance its services and expand operations.
Who led the recent funding round?
The recent funding round was led by Casa Verde, a well-known cannabis venture capital firm based in the US.
What conditions does Mamedica treat?
Mamedica specializes in treating chronic and neurological conditions such as pain, anxiety, ADHD, and depression.
What is the expected growth of Mamedica?
Mamedica anticipates doubling its patient base annually as the medical cannabis industry in the UK expands.
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