The Entourage Effect (TEE) has been named among the country’s top 10 fastest growing start-ups by the Australian Financial Review (AFR).
The 2024 Fast Starters List recognises companies that are less than five years old, with TEE taking out ninth place thanks to a compound annual growth rate of 672% (FY22-FY24), and revenue of $23 million in the last financial year.
Founder Eidan Havas told the AFR the company stocks a large range of brands in order to fulfil demand from doctors, pharmacists and patients with conditions including chronic pain, sleep disorders and anxiety.
He said: “Prescribing doctors and pharmacists are getting into medicinal cannabis more now as it’s increasingly recognised as a form of treatment. We have over 100 different brands, which can have anywhere from two to 50 products.
“Cannabis is one of those things where you may need to try a range of different formulations before you find the right one that suits you.”
Havas said “there are many people who smoke recreationally who are actually self-medicating a long-standing illness such as PTSD or insomnia”.
Those patients will benefit from being under the care of a doctor who can improve the efficacy of the drug while reducing their THC intake, he added.
Writing on Facebook, Havas paid tribute to his family as well as CEO Lisa Varley, who joined the firm in January, and the TEE team.
“This recognition represents far more than business success. It’s a testament to the trust, sacrifices, and shared purpose of so many people who have been part of this journey,” he wrote.
“To our CEO, Lisa Varley, your leadership has been the cornerstone of our success. Your drive, vision, and dedication have turned a bold idea into a thriving reality. I am so grateful to have you leading this company forward.
“To our team, this moment belongs to you, too. You are the heart of The Entourage Effect, and your passion, resilience, and commitment inspire me every single day. We would not be here without you.
“To the pharmacists who trust us to deliver the medicines you dispense, this is for you. Your dedication to serving patients and improving lives inspires everything we do. You are the final step in connecting patients with the care they need, and we are honoured to support your work.”
As well as its wholesale and online distribution arm, the business has a face-to-face clinic in Bondi, Sydney under subsidiary MiDispensary.
