THC Global Group is rebranding and expanding in 2021, with plans to rename itself Epsilon Healthcare as part of a shift into a broader range of healthcare and pharmaceutical products.
These changes come after the surprise departure of former CEO Ken Charteris in September this year with CFO Jarrod White (pictured) taking on the CEO role in an acting capacity.
The name change will go before shareholders at a meeting in December.
The company is also planning to discontinue the production of its CanndeoCare branded medicines in early 2021 in favour of contract manufacturing at its Southport facility, and is looking at selling off its Canadian assets, including a hydroponics equipment distributor.
It is also planning to launch a new brand for niche or unique cannabis medicines for Australia and export markets called ‘Uno’, as well as a high THC vape liquid for late 2020 followed by a high CBD vape liquid.
The company has put a temporary hold on cultivation at its Bundaberg facility until it can source new, higher-yielding plant genetics and identify partners to offer contract cultivation solutions.
In January 2021, the company will launch a proprietary end-to-end e-commerce platform (Medimar Platform) for the ordering and dispensing of medicinal cannabis in Australia utilising the Southport facility as a distribution hub and reducing the administrative burden on prescribers and pharmacies.
For prescribers, the platform will reduce admin and streamline the application process, and for pharmacies it will increase the volume of sales and enable bulk purchasing and holding while reducing admin, replacing existing high-cost legacy pharma distributors and reducing distribution time.
For patients, the platform will be a single point of contact for enquiries with the ability to choose any pharmacy for dispatch.