AltMed Enterprises, a fully integrated company that brings pharmaceutical industry precision to the development, production and dispensing of medical cannabis, announced today the appointments of Matthew Duffy as President and COO, and Mark Miller as CFO. Both executives have extensive knowledge of the medical cannabis and related industries.
New President Matthew Duffy will help AltMed accelerate its focus on bringing best-of-class products to market. Duffy has vast development-to-market experience beginning at Pfizer in sales, sales management and marketing. He subsequently led the efforts to bring several important new drugs to commercialization including Synagis (MedImmune) as head of marketing, and Cinryze (Lev Pharmaceuticals) as head of commercial operations (sales management, marketing, managed care, patient services, distribution, FDA advisory committee preparation). Additionally, Matt has 15 years of experience on Wall Street, as an investment banker, where he raised capital and executed business development deals for private and public companies, as a lead publishing equity research analyst and as a valued investor relations advisor.
“We couldn’t find a more qualified president than Matthew,” said Michael Smullen, CEO of AltMed. “His experience and successes in navigating the rigorous and complex path to commercialization in the pharmaceutical and healthcare arenas, as well as his extensive corporate finance experience, are a perfect match with our current priorities at AltMed.”
New CFO Mark Miller has served on AltMed’s board for two years where he’s gained valuable medical cannabis industry knowledge. Combined with his more than 20 years’ experience with multiple companies as a VP, CFO, director of risk management, manager of financial reporting and additional management rolls (tax, insurance, human resources, safety, claims and mergers and acquisitions) Miller is a great fit for AltMed’s ambitious growth plans.
“Mark has a proven track record of helping to lead companies through expansions with diligent execution of procedures and policies that mitigate risk, create value and improve the efficiency of operations,” Smullen said.
The timing of these appointments coincides with both AltMed Arizona and AltMed Florida becoming fully integrated companies – from development to dispensing of medical cannabis products. AltMed Arizona’s first dispensary opened in August, 2017. Products are expected to be available for Florida patients in early 2018.
About AltMed Enterprises – Alternative Medical Enterprises, LLC, headquartered in Sarasota, FL and doing business as AltMed Enterprises, is a fully integrated company that brings pharmaceutical industry precision to the development, production and dispensing of medical cannabinoids.
To the extent any statements made in this press release contain information that is not historical, these statements are forward-looking in nature and merely express our beliefs, expectations or opinions. For example, words such as “may,” “should,” “estimates,” “predicts,” “continues,” “believes,” “anticipates,” “plans,” “expects,” “intends,” “potential,” “strategy” and similar expressions are intended to identify forward-looking statements. Such statements are based on current expectations or estimates and involve a number of known and unknown risks and uncertainties that could cause our actual results, performance or achievements to be materially different from the results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause or contribute to these differences include, but are not limited to, the following: (i) our ability to implement our business strategy of distributing high quality cannabis products where permissible under applicable law; (ii) availability and cost of additional capital; (iii) our ability to attract, retain and motivate qualified employees and management; (iv) the impact of federal, state or local government regulations; (v) competition in the cannabis industry; (vi) our ability to generate revenues; and (vii) litigation in connection with our business. All forward-looking statements included in this press release and attributable to us or any person acting on our behalf are qualified by this cautionary statement. Forward-looking statements speak only as of the date on which they are made, and, except as required by law, we undertake no obligation to update or revise any forward-looking statement, regardless of whether new information becomes available, future developments occur or otherwise.