Minneapolis-based Vireo Health International is rebranding several medical marijuana dispensaries in Minnesota to its existing chain of retail locations called Green Goods.
The move, announced Tuesday, comes as the cannabis firm has changed the name of its subsidiary in Minnesota from Minnesota Medical Solutions (MinnMed) to Vireo Health of Minnesota.
The company is also opening four additional dispensaries under the Green Goods banner throughout the state.
“The Green Goods brand is the next evolution of Vireo’s continued commitment to providing patients with best-in-class medical cannabis products and customer experiences,” Vireo founder and CEO Kyle Kingsley said via a news release.
The existing locations won’t just be getting a fresh coat of paint and new signage, however.
In an email to THCnet, Vireo spokesman Albe Zakes said the company is remodeling each space with new furniture and artwork, and “increasing privacy in the pharmacy area where patients can safely and privately talk.”
A “knowledge bar” will also be installed in each of the Green Goods dispensaries, which have been designed to “provide more a more engaging open atmosphere.”
Both the renovations and new store openings are expected to be completed before the end of the year.
Vireo Health’s rebranding initiative in Minnesota is part of a broader effort to build a single dispensary brand in the seven states where the company currently operates, Zakes said.
“This allows us to better serve our patients with a consistent experience and share learnings and best practices, where applicable and allowable by state regulations, between state to state,” he said.
The cost to rebrand in Minnesota was “relatively nominal,” Zakes noted, because Good Greens’ marketing and branding assets had already been created for the Pennsylvania market.
“By using existing assets, we kept the rebranding cost to a minimum, this way we could focus on patients and keeping products affordably priced,” he said.
The Good Greens brand launched in Pennsylvania last year, and all 13 existing Vireo Health dispensaries will soon be branded as “Good Greens” outposts.
Vireo Health announced its second quarter financial results at the end of August, reporting total revenue of $12.2 million.
The company’s stock, which trades on the over-the-counter market under the ticker symbol VREOF, is down to $0.89 from its 52-week high of $1.76.
A news release with additional information about the Green Goods dispensary transition in Minnesota is below.
Minnesota Medical Solutions’ Cannabis Patient Centers Rebranded to Green Goods
MINNEAPOLIS — Vireo Health International Inc., (“Vireo” or the “Company”) (CNSX: VREO; OTCQX: VREOF), a leading physician-founded, science-focused multi-state cannabis company, today announced that Minnesota Medical Solutions (MinnMed), the company’s subsidiary in Minnesota, has changed its name to Vireo Health of Minnesota and its cannabis patient centers are in the process of being renovated and rebranded. The retail locations will now be called Green Goods.
The Company’s existing cannabis patient centers in Minneapolis, Bloomington, Rochester, and Moorhead are being improved and renovated to help create a best-in-class patient experience. The renovations will create a relaxed and engaging environment that helps streamline the process of purchasing medical cannabis products to help serve more patients in a timely fashion. The rebranding and exterior renovations are nearly complete and interior updates are ongoing at all existing locations.
Vireo Health of Minnesota expects to open two new locations in Blaine and Hermantown under the Green Goods brand by November of this year, with an additional two locations in Burnsville and Woodbury expected to be open by the end of 2020.
“The Green Goods brand is the next evolution of Vireo’s continued commitment to providing patients with best-in-class medical cannabis products and customer experiences,” said Kyle Kingsley, MD, CEO and Founder of Vireo Health. “The new renovated locations will both allow us to better serve patients and transform how we interact with local communities and employees.”
Building on the Company’s commitment to putting patients first, Green Goods locations will offer an inviting atmosphere that provides personalized service and wellness programs. Each location will also feature a ‘knowledge bar’ for patients seeking expert information and on-site pharmacists to help guide patients through their medical cannabis journey. The renovated shops will also be used for community engagement events, charitable giving programs, and educational outreach efforts.
Green Goods will continue to provide the same quality medical cannabis products and expert service to patients. Products will be repackaged under the Vireo Health brand, but nothing else about the products offered will change – the formulas, prices, and application formats will remain the same. Each Green Goods location will offer Vireo Health of Minnesota’s full range of pharmaceutical-grade cannabis products.
To learn more about Vireo Health of Minnesota and Green Goods retail locations, please visit www.minnmed.com.
About Vireo Health International, Inc.
Vireo Health International, Inc. (“Vireo” or the “Company”) is a physician-led cannabis company focused on bringing the best of technology, science, and engineering to the cannabis industry. Vireo manufactures proprietary, branded cannabis products in environmentally-friendly, state-of-the-art greenhouses and distributes its products through its growing network of Green GoodsTM retail dispensaries and through hundreds of third-party dispensaries in seven states. Vireo’s team of more than 400 employees, led by scientists, engineers, and cultivation experts, is focused on efficiency and the creation of best-in-class products, while driving scientific innovation within the cannabis industry and developing meaningful intellectual property. Today, Vireo is licensed to grow and/or process cannabis in 9 markets. The Company is operational in 7 of those 9 markets – including the core markets of Arizona, Maryland, Minnesota, New Mexico, and New York. The Company holds 32 total retail dispensary licenses, of which 13 are currently open for business. For more information about Vireo Health, please visit www.vireohealth.com.