HempFusion Wellness Inc (TSX:CBD.U) (FRA:8OO) said on Thursday that it has struck a big distribution agreement with Fullscript.com, a leading e-commerce platform that allows health professionals to dispense professional-grade natural health products.
Fullscript, an online dispensary designed by Healthy Web Inc, provides nutritional supplements to over 80,000 practitioners and over 600,000 patients across the US and Canada.
Denver, Colorado-based HempFusion said the agreement signifies the health and wellness CBD company’s “strategic launch into the doctor practitioner sales channel.”
HempFusion said its seven Biome Research SKUs will be available to ship from Fullscript distribution centers starting February 2, 2021.
“We are incredibly excited to launch doctor practitioner sales starting with Biome Research, a specialized wholly-owned HempFusion brand designed specifically for doctors, practitioners and their patients,” said Nancy Angelini, who is the director of HempFusion’s doctor/practitioner sales channel.
“An industry-leading e-commerce platform like Fullscript, with a deep and established distribution network, is a tremendous advantage to HempFusion. We expect this channel to drive significant revenue growth for the company.”
Biome Research products have been under development for nearly 14 months. The products include scientifically documented strains of beneficial and living probiotic bacteria that utilize an exclusive and scientifically validated MAKTrek 3-D Probiotic Delivery System, said the company.
HempFusion said the company’s formulations are based on "well-founded scientific research" using validated methods to “protect and deliver live probiotics to the lower gastrointestinal tract.”
“The launch into the doctor practitioner sales channel is crucial,” said HempFusion co-founder and CEO Jason Mitchell.
“It is a major component of the company’s broader five-channel distribution strategy, which includes planned expansion in natural, e-commerce, food & drug mass, and convenience channels,” added Mitchell, who is a naturopathic doctor.
Biome Research is a division of HempFusion’s wholly-owned subsidiary Probulin Probiotics LLC. Probulin Probiotics, is one of the fastest-growing probiotics companies in the US, according to data technology company SPINS.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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