From the Wires
Medbox Prepares to Help Operators Apply for Medical Marijuana Dispensary Licenses in Conjunction with Massachusetts' New Medical Marijuana Laws
200,000 - 300,000 patients will benefit from new laws
By: PR Newswire
Nov. 9, 2012 09:21 AM
HOLLYWOOD, Calif., Nov. 9, 2012 /PRNewswire/ -- Medicine Dispensing Systems, a subsidiary of Medbox, Inc. (Pinksheets: MDBX) (www.medboxinc.com) in partnership with Kind Clinics, LLC is preparing to assist companies and individuals open legal and fully compliant medical marijuana clinics in the state of Massachusetts. The company will be demonstrating its patented technology to the media next week at its new office location at 81 Speen St. Natick, Ma.
With Massachusetts' passage of the medical marijuana voter initiative on November 6, 2012, five out of six New England states representing 91% of the regional population have legalized marijuana for medical purposes, only Live Free or Die New Hampshire is the holdout. Massachusetts' 6.4 million residents join 17 states and the District of Columbia representing 93.8 million U.S. residents. With Massachusetts on board 32.5% (100.4 million residents) of the U.S. population have access to medical marijuana.
With 6.5 million residents, Massachusetts is the 14th largest state in the U.S. but due to its small size, it is the 4th most densely populated jurisdiction (3rd most densely populated state), behind DC, Rhode Island, and New Jersey. The Massachusetts legislation authorized only 35 dispensaries. This will provide Massachusetts dispensary operators with an exceptionally high ratio of patients per outlets – likely the highest in the country.
"More regulated states like Arizona, Connecticut, and now Massachusetts, obviously have the advantage as to being the states that may have the least amount of abuse within the industry, which is why Medbox has taken such a strong interest in helping develop those state's programs", stated Dr. Bruce Bedrick, CEO of Medbox, Inc. "On election day we also witnessed the first time any state has legalized marijuana for recreational purposes. Washington State and Colorado both approved measures to allow the sale of marijuana to anyone over the age of 21. While we monitor how the federal government is going to view that, Medbox will be focused on states with medical marijuana programs. With the recreational element now at play, for once medical marijuana supporters will be looked at more favorably, even by conservatives. All this bodes well for the industry in Massachusetts and other tightly controlled medical marijuana states."
About Medbox, Inc:
Medbox provides their patented systems, software and consulting services to pharmacies, urgent care centers, clinics, hospitals, and medical groups worldwide.
Medbox, Inc. is a publicly traded company, and is listed on the OTC Board, ticker symbol MDBX.
For more information on Medbox, please contact the Medbox Investor Relations Department at (800) 762-1452 or go online to www.medboxinc.com.
SOURCE Medbox, Inc.
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