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Last updated on April 20, 2014 at 5:20 EDT

Medbox Applauds New “Seed-to-Sale” Regulations in Massachusetts and Proposed Legislation In New York

April 4, 2013

HOLLYWOOD, Calif., April 4, 2013 /PRNewswire/ — Medbox, Inc. (OTC Markets: MDBX) (www.medboxinc.com), a leader in providing industry-specific consulting services and patented systems to medical and retail businesses worldwide, announced that the Massachusetts Department of Public Health has published its medical marijuana dispensary program rules.

In a statement to the press last Friday, Dr. Bruce Bedrick, CEO of Medbox stated the following:

“The Massachusetts Department of Public Health has made Massachusetts the new gold standard for the safest and most secure regulation of medical marijuana. The thoughtful, open and fair process of the past few months has culminated in the best draft regulations seen in the industry to date. These regulations take all parties into consideration from the patients and dispensary operators to legislators and law enforcement.

The inclusion of the real time electronic seed-to-patient database will make Massachusetts the most highly regulated Medical Marijuana state program in the country. The regulations and real time database proposed will eliminate any opportunity for diversion and therefore, should please and allay fears of the public in general, city and town officials, and law enforcement.

While some may disagree with a few of the minor provisions of the regulations, these rules secure Massachusetts’ place atop the leader board in fairness, access, safety and security. From our perspective, the regulations are validating, because, in Medbox, we have created the system that offers the safety, security and inventory control the state is seeking. Our track record demonstrates that our consulting should provide the best chance of success for medical marijuana entrepreneurs in Massachusetts.”

The pertinent parts of the rules as it pertains to Medbox are as follows:

  • DPH required electronic seed-to-sale tracking
  • DPH mandated “merit based” dispensary license allocation process
  • DPH mandated the sale of vaporizers within medical marijuana retail outlets
  • 35 total licenses to be awarded from the state based on geographic location or “zone”

The draft regulations are available for download at the link below:

http://www.thedispensingsolution.com/wp-content/uploads/2013/04/MA-MMJ-Rules.pdf

The company conducted three seminars in Massachusetts yesterday to a packed house and anticipates filling all 35 of its predetermined number of consulting client slots for that state, within Q2 2013. As was the case in Arizona, Medbox will not have competition between consulting clients and will only have one consulting client per “zone” in Massachusetts. Although the company anticipates competition to be fierce, the “merit based” model and the company’s prior consulting experience in other states allows the company to give an elevated chance of success to its clients.

The company also announced their support for a measure currently in front of the New York State legislature. The bill introduced last week proposes tougher oversight of medical marijuana sales in New York than had been previously sought. If passed, New York would join 18 states and the District of Columbia that have legalized medical marijuana.

According to the bill’s sponsors, the state would set up “seed-to-sale” security and regulations of the drug. Under the bill’s provisions, medical marijuana could be prescribed by specially licensed physicians to seriously ill patients, with strict guidelines and oversight.

Medbox applauds this strict oversight and precise tracking. The Medbox/BioTrackTHC package is the industry’s most robust seed-to-sale software, and provides location tracking for each individual plant, from seed to patient dispensing. This unique system also provides transit tracking, inventory and patient management, a point of sale system, accounting, and is fully HIPAA compliant.

Other proprietary features of the Medbox/BioTrackTHC package include a biometric employee chain of custody tracking for inventory from plant to purchase – ensuring complete accountability for every plant, in every step of the process.

“We applaud the New York legislators on their decision to implement strict oversight and seed-to-sale tracking of all medical marijuana,” said Dr. Bruce Bedrick, CEO of Medbox, Inc. “As a leading proponent of building a legitimate and responsible legal marijuana industry, we are in favor of policies that demand strict adherence to all regulations,” he added. “It’s good for the entire industry and it’s good for our company’s clients and shareholders.”

About Medbox, Inc:

Medbox is a leader in the development, sales and service of automated, biometrically controlled dispensing and storage systems for medicine and merchandise. Medbox has offices throughout the world, including New York, Arizona, Connecticut, Massachusetts, Tokyo, London and Toronto, and has their corporate headquarters in Los Angeles.

Medbox provides their patented systems, software and consulting services to pharmacies, dispensaries, urgent care centers, drug rehab clinics, hospitals, prison systems, hospice facilities, and medical groups worldwide.

Medbox, Inc. is a publicly traded company, and is listed on the OTC Markets, ticker symbol MDBX.

For more information on Medbox, please contact the Medbox Investor Relations Department at (800) 762-1452 or go online to www.medboxinc.com.

SOURCE AVT, Inc.


Source: PR Newswire