Florida Chooses BioTrack as the State's Cannabis Track and Trace System
Forian Inc. (NASDAQ: FORA) has been selected by the Florida Department of Health as the provider for the state’s cannabis traceability system through BioTrack. This unanimous decision aims to enhance transparency in the medical-use cannabis market by tracking the products from seed to sale, thereby preventing diversion and ensuring compliance. BioTrack's software is already in use across 38 states and 10 countries, with Florida joining 10 other states leveraging their solutions. The initiative supports real-time inventory monitoring and recalls of unsafe products.
- Forian's software selection by the Florida Department of Health enhances its market presence in the cannabis industry.
- BioTrack's system will provide real-time visibility and transparency for cannabis inventory in Florida.
- The initiative supports compliance and safety in the state's medical cannabis market.
- None.
NEWTOWN, PA, Feb. 28, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Forian Inc. (NASDAQ: FORA), a leading provider of technology, predictive analytics and data science driven software solutions for the healthcare and cannabis industries, announced that the State of Florida Department of Health Negotiators have unanimously voted to choose BioTrack as the track and trace system for the Florida Department of Health’s Office of Medical Marijuana Use. This vote was affirmed by the Department of Health’s Notice of Intent to Award, which can be found HERE.
Florida plans to use the BioTrack inventory tracking system to monitor the movement of cannabis products in the state’s medical-use cannabis market, while providing a real-time inventory of cannabis products available in Florida and preventing the unlawful diversion of products.
BioTrack’s software will track cannabis in Florida from when it is first planted as a seed to the point-of-sale to the patient – without additional costs to Florida businesses. All licensed medical marijuana cannabis establishments are required by Florida law to participate in the tracking system and log the movement of cannabis as it is grown, manufactured into other products, packaged, tested, and sold to qualifying patients. BioTrack’s state-of-the-art traceability system will also help recall cannabis plants and products deemed as unsafe or adulterated, and prevent adulterated and regulated materials from reaching the black market.
“We are very excited to welcome Florida to the growing number of states that have chosen BioTrack’s technology for their cannabis-related initiatives. We look forward to our partnership with the state to provide real-time visibility and transparency on market activities,” said Moe Afaneh, VP of BioTrack.
BioTrack’s point-of-sale software is used by customers in 38 states and 10 countries, while 10 state governments in addition to Florida, currently use BioTrack products.
About Forian
Forian Inc. provides a unique suite of SaaS solutions, data management capabilities, and proprietary data and analytics to optimize operational, clinical and financial performance for customers within the traditional and emerging life sciences, healthcare payer and provider segments, as well as cannabis dispensaries, manufacturers, cultivators and regulators. For more information, please visit the Company's website at www.forian.com.
Cautionary Statements Regarding Forward-Looking Statements
This release contains "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "see," "will," "would," "target," similar expressions and variations or negatives of these words. Forward-looking statements by their nature address matters that involve risks and uncertainties, many of which are beyond the control of Forian, and are not guarantees of future results, such as statements about the anticipated benefits of the business combination transaction involving Forian, Medical Outcomes Research Analytics, LLC and Helix Technologies, Inc., future financial and operating results, company strategy and intended product offerings and market positioning. These and other forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statements. Accordingly, there are or will be important factors that could cause actual results to differ materially from those indicated in such statements and, therefore, you should not place undue reliance on any such statements and caution must be exercised in relying on forward-looking statements. Factors that could cause actual results to differ include, but are not limited to, those risks and uncertainties associated with: the impact of the COVID-19 pandemic on Forian's business, operations, strategy and goals; Forian's ability to execute on its strategy; the timing of the introduction of new product offerings; and the additional risks and uncertainties set forth more fully under the caption "Risk Factors" in Forian's Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC on March 31, 2021, and elsewhere in Forian's filings and reports with the SEC. Forward-looking statements contained in this announcement are made as of the date hereof, and Forian undertakes no duty to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable law.
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FAQ
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