Weedmaps Partners with NuggMD to Launch Medical Cannabis Card Program

Rhea-AI Summary

Weedmaps (Nasdaq: MAPS) has partnered with NuggMD to launch a pilot program streamlining the medical cannabis education and application process for patients. The initiative connects potential patients on Weedmaps with NuggMD's telehealth platform, creating a full-circle e-commerce experience. The program is currently active in Florida, Oklahoma, Pennsylvania, West Virginia, and Louisiana.

A recent survey of Weedmaps users revealed that 33% are more likely to use cannabis for diagnosed medical conditions, with anxiety reduction and relaxation as primary drivers. The partnership aims to provide accessible, easy-to-use processes for obtaining medical cannabis approval and navigating the vast array of cannabis products available.

Positive

• Partnership with NuggMD expands Weedmaps' service offering in the medical cannabis sector
• Pilot program active in 5 states, with potential for expansion to 28 states served by NuggMD
• 33% of surveyed Weedmaps users likely to use cannabis for medical conditions, indicating market potential

Negative

• None.

Insights

Cannabis Market Analyst

The collaboration between Weedmaps and NuggMD is a strategic step forward in the burgeoning medical cannabis market. Weedmaps has long been a pioneer in connecting consumers to cannabis dispensaries and this partnership with NuggMD extends their reach into the telemedicine and patient education space. By enhancing access and streamlining the process for obtaining medical cannabis cards, Weedmaps is likely to see increased user engagement and customer loyalty. This is particularly significant given the survey results indicating that a substantial portion of their user base is already considering cannabis for medical purposes. As cannabis laws continue to evolve and more states legalize medical and recreational use, this partnership positions Weedmaps well to capitalize on emerging opportunities and regulatory changes.

Healthcare Market Expert

From a healthcare perspective, the Weedmaps and NuggMD partnership is noteworthy for its potential to improve patient access to medical cannabis. By integrating NuggMD's telehealth platform with Weedmaps' marketplace, patients can more easily navigate the often-complicated process of obtaining medical cannabis approval and purchasing products. This synergistic approach not only simplifies access but also ensures that patients receive accurate information and appropriate medical guidance. The involvement of medical professionals like Dr. Bonni Goldstein underscores the focus on safe and informed use of medical cannabis, which could help mitigate the stigma and misconceptions surrounding cannabis treatment.

Financial Analyst

This partnership is a promising development for investors in Weedmaps (Nasdaq: MAPS). By entering the telehealth arena through NuggMD, Weedmaps diversifies its revenue streams and strengthens its market position. The initial rollout in Florida, Oklahoma, Pennsylvania, West Virginia and Louisiana provides a pilot framework that can be scaled if successful. Investors should monitor the adoption rates and any subsequent expansion plans closely. Additionally, pro-cannabis regulations could further boost the financial prospects of this initiative. Given the growing acceptance of medical cannabis, this partnership aligns well with long-term growth strategies and could lead to increased shareholder value.

IRVINE, Calif.--(BUSINESS WIRE)-- Weedmaps (Nasdaq: MAPS), a leading online cannabis marketplace for consumers, today announced it has partnered with NuggMD, the nation's leading online telemedicine platform for medical cannabis patients and physicians, to launch a pilot program that streamlines the medical cannabis education and application process for patients.

Weedmaps Partners with NuggMD to Launch Medical Cannabis Card Initiative (Graphic: Business Wire)

This initiative enhances access to medical cannabis by connecting potential patients on Weedmaps with the NuggMD telehealth platform, creating a full circle e-commerce experience when the patient returns to shop and learn more about medicinal cannabis products on Weedmaps. The first phase of the program is currently active in five of the 28 states that NuggMD serves: Florida, Oklahoma, Pennsylvania, West Virginia, and Louisiana.

“We're seeing more and more potential patients shopping through Weedmaps and specifically seeking cannabis as an alternative treatment option, and we want to help these consumers easily learn about, access, and shop for medical products as safely and conveniently as possible,” said Jackie Gonzalez-Becerra, Vice President of Revenue at Weedmaps. “Through this partnership with NuggMD, medical cannabis patients will have streamlined access to educational resources, the full breadth of NuggMD’s telehealth portal, and the full-circle familiarity of coming back to Weedmaps to shop for their products — a truly holistic shopping and patient care experience.”

According to an August 2023 survey of nearly 15,000 Weedmaps users, 33% of respondents said they are more likely to use cannabis to address the symptoms of a diagnosed medical condition, with “reducing anxiety” and “relaxing” as the most common drivers of cannabis usage. NuggMD has seen similar results from their own recent cannabis consumer poll, noting that, “one in four survey participants use marijuana for pain management.”

“It's important prospective patients have an accessible, easy to use process when looking to obtain their medical cannabis approval,” said Bonni Goldstein, MD, medical director of Canna-Centers and medical advisor to Weedmaps. “There are thousands of cannabis products on the market, and it can be overwhelming for first-time patients. This partnership between NuggMD and Weedmaps connects two trusted leaders in the cannabis space as they work to help patients understand the importance of medical cannabis, and how to achieve the desired effects available through the countless strains and cannabinoids found in the plant.”

“Millions of Americans use cannabis to make their own lives better,” said Charlie Russell, Chief Revenue Officer at NuggMD. “Our mission is to help patients overcome barriers to access, and our partnership with Weedmaps works in service of that mission. We are confident that pro-cannabis regulation and policy will continue to break down these barriers, and that the industry can work together to correct the historic wrongs wrought by cannabis prohibition.”

Launched in 2008, Weedmaps was founded by two California Prop 215 medical marijuana patients as an easily accessible online directory of medical dispensaries to guide fellow medical cannabis patients in their own research. As U.S. state medical programs began expanding, and the onset of adult-use cannabis moved forward both in the U.S. and Canada, Weedmaps expanded to support emerging markets, eventually growing into the marketplace provided today.

Weedmaps users in FL, OK, PA, WV, and LA can learn more about the NuggMD pilot program by visiting Weedmaps.com, downloading the Weedmaps app or visiting www.nuggmd.com/weedmaps.

About WM Technology

Founded in 2008, WM Technology operates Weedmaps, a leading cannabis marketplace for consumers, as well as a broad set of eCommerce and compliance software solutions for cannabis businesses and brands in U.S. state-legal markets. WM Technology holds a strong belief in the power of cannabis and the importance of enabling safe, legal access to consumers worldwide.

Over the past 15 years, the Weedmaps marketplace has become a premier destination for cannabis consumers to discover and browse cannabis-related products, access daily dispensary deals, order ahead for pick-up and delivery by participating retailers (where applicable), and learn about the plant. The Company also offers eCommerce-enablement tools designed to help cannabis retailers and brands reach consumers, create business efficiency, and manage industry-specific compliance needs.

The Company is committed to advocating for full U.S. legalization, industry-wide social equity, and continued education about the plant through key partnerships and cannabis subject matter experts.

Headquartered in Irvine, California, WM Technology supports remote and hybrid work for eligible employees. Visit us at www.weedmaps.com.

About NuggMD

NuggMD is the nation’s leading medical marijuana technology platform, serving patients in Arizona, California, Connecticut, Delaware, Florida, Georgia, Illinois, Iowa, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nevada, New Jersey, New Mexico, New York, Ohio, Oklahoma, Pennsylvania, Texas, Vermont, Virginia, Washington, and West Virginia. They’ve connected over 1,300,000 patients face-to-face with their new medical marijuana doctors via their state-of-the-art telemedicine platform. They believe every human being has the right to explore the potential benefits of medical cannabis and are fully committed to helping each patient explore every option in their journey to wellness. For further information, visit https://www.nuggmd.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240724636696/en/

Press@weedmaps.com

Source: Weedmaps

FAQ

What is the new partnership between Weedmaps (MAPS) and NuggMD?

Weedmaps (MAPS) has partnered with NuggMD to launch a pilot program that streamlines the medical cannabis education and application process for patients, connecting potential patients on Weedmaps with NuggMD's telehealth platform.

In which states is the Weedmaps (MAPS) and NuggMD pilot program currently active?

The pilot program is currently active in five states: Florida, Oklahoma, Pennsylvania, West Virginia, and Louisiana.

What percentage of Weedmaps (MAPS) users are likely to use cannabis for medical conditions?

According to a recent survey, 33% of Weedmaps (MAPS) users said they are more likely to use cannabis to address the symptoms of a diagnosed medical condition.

What are the main reasons for cannabis usage among Weedmaps (MAPS) users?

The most common drivers of cannabis usage among Weedmaps (MAPS) users are reducing anxiety and relaxation.