The Healing Center announced that it has purchased a 50% equity interest in Agronomed Biologics, which will give it the ability to expand further in Pennsylvania.
Agronomed Biologics has permission to open a medical marijuana growing and processing facility and six dispensaries in the state as part of research efforts with Drexel University College of Medicine, according to a news release.
The Healing Center purchased its stake in Agronomed from the Franklin Group in Colorado. Chris Kohan, CEO and co-founder of the Healing Center, declined to say how much his business paid for the acquisition.
Kohan said that the growing and processing facility, as well as the first dispensary, would be built in Chester, Pennsylvania, outside Philadelphia. Both facilities are expected to be operational in late April 2021.
After that, three more dispensaries will be coming to southwestern Pennsylvania and two more in the southeast part of the state.