Trulieve Cannabis Corp. announced its first quarter of 2020 ended March 31, 2020. Unless otherwise stated, all currency is expressed in U.S. dollars.

First Quarter 2020 Financial and Operational Highlights
• Achieved record revenue of $96.1 million, an increase of 21% on a sequential quarter-to-quarter basis
• Adjusted EBITDA1,2,3 was $49.4 million, or 51%, for the first quarter 2020
• Achieved earnings per share (EPS) of $0.12
• Achieved GAAP adjusted margin4 of 77%
• Sustained strong cash position with cash and cash equivalents of $100.8 million at March 31, 2020
• Launched new products including TruPowder, TruTincture drops, and our ground flower product offering during the quarter
• Opened three new stores in Florida, ending the first quarter with 47 stores nationwide
• Introduced additional, industry leading measures in response to COVID-19
 
Recent Highlights and Developments
• Celebrated 4/20 with two record revenue days of approximately $2 million each day
• Appointed Alex D’Amico as Chief Financial Officer, improving our bench-strength and adding broad accounting and finance background to support the Company as it continues to grow
 
“Trulieve posted exceptional operational results for the quarter, continuing to grow our market share in Florida as we saw our dedicated team along with our scale and supply chain efficiencies successfully meet the increased demand for our products,” stated stated Kim Rivers, Trulieve CEO. “Trulieve’s execution of key fundamentals and financial discipline coupled with market share growth this quarter contributed to positive free cash flow, further strengthening our balance sheet and validating our financial stewardship. Our financial position continues to differentiate us in the market by providing flexibility to support both organic and external growth initiatives which is increasingly important during these times.”
 
COVID-19 Update
The Company’s response to COVID-19 remains a priority for the health, safety and well-being of its employees, patients, customers, and communities. Trulieve has put into effect additional company-wide measures from its previous initiatives in response to COVID-19, and is well prepared for the phased re-opening of businesses and public spaces in Florida.
 
Furthermore, to date the Company has not experienced any material COVID-19 impacts affecting its ability to serve patients and customers. For additional information on COVID-19 and associated risks to our business, refer to the “Risk Factors” in the Company’s Management Discussion and Analysis for Q1 2020, available on its website at www.trulieve.com/investors.


Boca Raton Regional Hospital received its 2,000th meal from Boca Rio Golf Club and The Barry Family Foundation. This is largest meal donation received from an individual club to the hospital staff.

Knowing the stressful demand that front line clinicians and support workers have been under since the start of the COVID-19 pandemic, Boca Rio Golf Club and The Barry Family Foundation wanted to show their unwavering support. The decision was made to deliver 250 meals twice a week for six weeks. The first meals were delivered Wednesday, April 22, 2020 and they have continued since then. Today’s delivery brought their total to 2,000 meals served.
 
“This is such a generous initiative and is so welcomed by the staff,” explains says Mark Larkin, President of Boca Raton Regional Hospital Foundation. “Working long shifts, often 12 hours a piece, the nurses, physicians and technologists have little time to take for breaks. Knowing that a nice meal is coming gives them one less thing to worry about.”
 
Boca Rio Golf Club and The Barry Family Foundation have been long-time supporters of Boca Regional. In the past, they have hosted many Golf fundraisers to support patient care initiatives at the hospital. Boca Regional is very grateful for the philanthropic spirit that Boca Rio Golf Club and The Barry Family Foundation has always shown to our organization.
 
“Being able to support the hospital staff during such trying times has been a pleasure,” say Luciano Farias, General Manager of Boca Rio Golf Club. “The hospital and its clinicians plays such an important role in the health and well-being of our community, to thank them with this gift of fine food is an honor.”


Jessica Miller joins the staff of Florida Medical Center Medical Center as the hospital’s new chief nursing officer. Miller is also the chief nursing officer at North Shore Medical Center as well as lead CNO for Tenet Healthcare’s Miami-Dade Group. Miller brings extensive healthcare leadership experience and a demonstrated focus on patient-centered care, and performance improvement. She will be responsible for supervising and coordinating the daily operations of the hospital’s various nursing units to ensure high-quality care is delivered to all patients.

Prior to this appointment, Miller serves as the CNO for sister facility, North Shore Medical Center, and she also served as the CNO for sister facility, Coral Gables Hospital. During her 13 years of dedicated service to Coral Gables Hospital, Miller led the quality, risk management, infection control and wound care departments. She also was responsible for overseeing numerous surveys from government and regulatory agencies, and has played a key role in four of the hospital’s Top Performer in Key Quality Metrics recognitions from The Joint Commission.

She received her Bachelor of Science in Nursing and her Master of Business Administration from Florida International University. 


Tenet Florida Physician Services (TFPS) announced the selection of Michael S. Davis, MPH, MBA, as its CEO. In this role, Davis is responsible for the operations and strategic growth of physician practices across Palm Beach, Broward and Miami–Dade counties.

Prior to joining TFPS, Davis served as president of Pediatric Specialists of America (PSA), Nicklaus Children’s Health System’s physician group practice. During his tenure, Davis drove strong growth in key specialties including orthopedic, cardiovascular, spine and neurosurgery, while also focusing on building and expanding telehealth access across service lines.
 
Prior to moving to South Florida, Davis spent 14 years in the Boston area working in healthcare management roles, management consulting and earning his undergraduate and graduate degrees. Specifically, Davis attended graduate school at Boston University earning honors distinction in his master’s degrees in business administration and public health. 


Broward Health recently announced the 2020-2021 appointments of hospital chiefs of staff. 

Sunil Kumar, M.D., was appointed chief of staff at Broward Health Medical Center. Dr. Kumar is the medical director of the hospital’s intensivist program and specializes in pulmonary and critical care medicine. He served as the chief medical information officer from 2013-2017.
 
Broward Health North has re-appointed Gary Lehr, M.D., its chief of staff. He was first appointed to this role in May 2019 and also served as chief of staff from 2005-2007. Dr. Lehr is board certified in general surgery.
 
Israel Penate, M.D., is a board certified internist and will continue as Broward Health Coral Springs’ chief of staff. Dr. Penate has been instrumental in the launch of the hospital’s new catheterization lab. He is also a past chair of medicine for the hospital.
 
William Jensen, D.O., will continue in his role as chief of staff at Broward Health Imperial Point. He has been in the position since 2018. He previously was chief of staff from 2006 to 2010. Dr. Jensen is a board certified osteopathic family medicine physician.