Cresco Labs and Bluma Wellness Inc. announce the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”), as amended, in respect to Cresco Labs’ pending acquisition of Bluma (the “Transaction”). The waiting period expired without the issuance of a so-called “second request” by the United States Department of Justice Antitrust Division (the “DOJ”). The Transaction is anticipated to close in the second quarter of 2021 and is subject to certain closing conditions, including approval from the State of Florida.

“We look forward to completing the remaining steps required to close the Transaction and are excited to begin our work with the Bluma team to accelerate our growth in the Florida market,” said Charles Bachtell, CEO of Cresco Labs.
 
 


One of the best ways to stay in business is by establishing a loyal customer base—and one of the smartest ways to do this is by creating a loyalty program that recognizes and rewards customers for their repeat business.   

“Everybody understands loyalty and rewards programs; they are tested and proven methods for driving customers into stores more often and getting them to spend more than they would otherwise spend,” explained Jeff Harris, founder of springbig, a leading cannabis marketing program designed to help retailers and manufacturers increase customer retention, boost revenue and build customer loyalty. “However, if the program is not designed correctly, it can just be a cost instead of an investment that drives more revenue. It needs to be structured so that businesses get the most out of it.”
 
In 2016, springbig entered the cannabis market after spending more than 20 years of providing loyalty programs for big-box retail stores and small businesses around the country ranging from hair salons to yogurt shops. “We realized that this was a growing industry that could use our help in developing and getting their message out to the consumer,” said Harris of the company that has already established a strong foothold in the Florida market.
 
“One of the things that sets us apart is that we were loyalty experts first; we weren’t cannabis experts learning the loyalty industry,” he added. “Our core expertise is helping retailers and brands drive the most revenue out of their marketing program specifically by using loyalty programs.”
 
Loyal Customers Drive Profits
Repeat customers can make a big difference in a business’ bottom line.
 
“Depending on how they choose to use it, we usually see at least a 10 percent bump in business when companies start using loyalty programs; that’s a very meaningful percentage,” said Harris, adding that he has seen sales increases of up to 40 percent. “When we don’t send out a message on a given day, the difference in sales is tremendous.”
 
While some businesses have rewards programs, a true loyalty program encompasses more than just giveaways. “It’s more expansive than that; think of it like a frequent flyer program,” said Harris. “The reward component is the miles, but other components may include a separate check-in line, the ability to board the plane first, and free checked bags. It’s giving your most loyal customers something different than other customers get.”
 
Loyalty programs also provide vital information to retailers and manufacturers about who is buying their products. Springbig’s specially designed cannabis CRM software, for example, pulls in point of sale (POS) data and segments that information to give clients information on click-throughs, visit rates, spend rates and more.
 
“Every campaign is measured to the penny, and this information can also be used to create more targeted messages of who to talk to and what to say,” said Harris, adding that this also provides a comparison between loyalty customer groups vs. non-loyalty groups.
 
“In general, we find that when clients sign up with us, by leveraging our ability to bring in this data and segment the information, they make back their return on investment in just one day,” he added.
 
Setting It Up
Springbig makes it easy for clients to create a loyalty program that meets their specific needs. “We discuss their goals and objectives, and determine how technology can be used to accomplish what they want to achieve,” said Harris. “Once we’ve designed a program to fit their business, our special onboarding team trains their staff on the software, because even the best designed program will fail if a team isn’t correctly trained.
 
“A loyalty program can help a well-trained staff really sell,” he added. “They get excited about it and engage more with customers, which helps customers understand how to leverage the program, which in turn drives more usage.”
 
Harris credits his own team with his company’s success, which was recently ranked 99th on the annual Inc. magazine 5000 List, and #3 on Inc. magazine’s list of Florida’s fastest-growing private companies. The company was also ranked #2 as one of the best places to work (small company category) by South Florida Business Journal.
 
“Whether a company is launching a brand new program, or doesn’t like the program they’re using, I advise them to reach out to a company like springbig that has years of experience in loyalty programs,” said Harris. “A retail loyalty program costs about 2 percent of sales, which, for a $10 million a year company, is a big expense. So it’s important to find someone you trust to make sure that it’s set up so that you have the best opportunity to succeed. When done right, it’s a great tool.”


Cresco Labs and Bluma Wellness Inc. announce the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”), as amended, in respect to Cresco Labs’ pending acquisition of Bluma (the “Transaction”). The waiting period expired without the issuance of a so-called “second request” by the United States Department of Justice Antitrust Division (the “DOJ”). The Transaction is anticipated to close in the second quarter of 2021 and is subject to certain closing conditions, including approval from the State of Florida.

“We look forward to completing the remaining steps required to close the Transaction and are excited to begin our work with the Bluma team to accelerate our growth in the Florida market,” said Charles Bachtell, CEO of Cresco Labs.
 
 


Rep. Roach on MMJ patients and doctors: They are “Drug Seekers and doctors who just want to get rich.”

Patients using flower or high THC products, medical specialists who certify their use, and the Medical Marijuana Treatment Centers (MMTCs) are all on high alert! A few state lawmakers have the medical marijuana program in their crosshairs. Rather than hearing proposals to make the MMJ program more robust, this fringe group of lawmakers is calling for CAPS.
 
Patients, caregivers, and loved ones are seeing the legislative process play out firsthand. Thanks to TheFloridaChannel.org showing committee hearings live, MMTCs engaging their patients, and advocates reporting from Tallahassee, the movement is more engaged than ever before. Representatives of the Florida Cannabis Action Network, Florida for CARE, Sunshine Cannabis, and the NORML affiliates are in Tallahassee meeting with lawmakers and keeping the community informed through video, social media, radio, and print news. These groups are supporting calls to action as the bill, HB 1455 moves through its committee assignments.
 
House Bill 1455, by Representative Spencer Roach (R) of Lee Co., limits the potency of flowers at 10% THC and concentrates at 60% THC. Patients who use high concentrations of THC in flower or concentrates won’t be simply buying more, the bill also CAPS the total milligrams of THC a patient can receive every 35 days. While there is an exception, high potency product availability will be limited. The existing MMTC’s have until June 2022 to comply with the new product requirements under the proposed law; but, there is no guarantee they will be able to produce enough flower under 10% THC to meet demands.
 
Cannabis Specialists – those doctors who certify patients in the program – are impacted by this proposed legislation. The bill CAPS free enterprise by mandating the Department of Health pre-approves all advertising done by MMJ practices. There are no guidelines proposed in the bill, no time limits on decisions by the Department of Health, and no appeals process.
 
HB 1455 already passed two of its three committee assignments in the Florida House. Lawmakers are voting along party lines, but behind the scenes, Republican House members are disturbed. They are hearing from constituents and friends who need high THC products. Some are in-the-know about high THC/CBD concentrates in high doses for treatment of cancer, something that would be eliminated under these proposed limits. During the first committee hearing, Republican Rep. Killebrew (Polk Co.) expressed his dislike of the bill. He voted with the Democrats on amendments to expand conditions and make the bill better but ultimately voted to pass the bill out of committee. In its second committee, Representative Trabulsy (R) St. Lucie Co, voted no on the bill, a courageous vote since opposing leadership is a sure way to get opposition in the next primary election.
 
Florida has a complicated love/hate relationship with Cannabis. Voters love it. In 2016, the medical marijuana constitutional amendment garnished over 71% of the vote. Today, regardless of party affiliation, more than 50% of all demographics now support safe, legal access to recreational Cannabis. But lawmakers, influenced by Drug-Free America founders and Republican king-makers Mel and Betty Sembler, still hear echoes of reefer madness. Those lawmakers are powerful and bipolar on Cannabis; loving FDA-approved Cannabis drugs, hating Democratic Secretary of Agriculture Nikki Fried being in charge of hemp, and intolerant of Cannabis flower being called a medicine.
 
Patients lose under HB 1455 and its Senate companion SB 1958 by Senator Ray Rodrigues, also of Lee Co.
 
Advocates have been vocal about the choices patients face if HB 1455 / SB 1958 becomes law. If safe, legal access to medical-grade Cannabis isn’t an option, they will go back where they came from. Some will return to the illicit market, but more will seek the chemical cocktail covered by insurance companies. When the legal flower isn’t an option, patients caught with flower may get an option to choose substance abuse treatment to avoid jail time.
 
The Florida Senate has held the line the past two sessions when THC caps on flowers were proposed. Senator Jeff Brandes, chair of the first committee assignment in the Senate has no interest in hearing the bill. That roadblock makes it harder for the bill to get to the Governor’s desk, but it isn’t impossible. Florida Cannabis Action Network and our partners will continue to follow all the actions in Tallahassee.


Holy Cross Health is one of the first in South Florida to offer a new lung valve treatment for patients with severe COPD/emphysema. 

Recently approved by the FDA under its “Breakthrough Devices” status, the Zephyr® Endobronchial Valve treatment is a major advancement because it is the first minimally invasive procedure to help emphysema sufferers breathe easier without major surgery. Through a simple bronchoscopy, the valves improve a patient’s quality of life by allowing them to breathe easier, reducing the shortness of breath, while promoting a more active and energetic lifestyle. 
 
“We are very excited to have this new treatment option because emphysema patients are often in poor physical condition, struggling with each breath despite medication therapy. Before the Zephyr Valves, the only options for relief were highly invasive treatments including lung surgeries,” said Sam G. Kosseifi, M.D., DABSM, lead pulmonologist at Holy Cross Health. “Being able to offer this minimally invasive procedure has the potential to improve the quality of life for many emphysema sufferers in Florida and beyond.”
 
The one-time procedure is done during a simple bronchoscopy that requires no cutting or incisions. During the procedure, an average of four tiny valves are placed in the airways to block off the diseased parts of the lungs where air gets trapped. Keeping air from getting trapped in the diseased parts of the lung allows the healthier parts of the lungs to expand and take in more air. This results in patients being able to breathe easier and have less shortness of breath.