Lafayette-based Wellcana Group has completed the purchase of the GB Sciences Louisiana medical cannabis business, which has an exclusive, five-year contract with LSU to run the school’s medical marijuana program.
Wellcana Group purchased 50% of GB Sciences Louisiana in September for $16 million, and the companies quietly announced another $16 million sale last month for the remaining ownership, The Daily Advertiser reports.
GB Sciences Louisiana became the sole operator of LSU’s medical marijuana program after signing a five-year contract in September 2017. In 2018, GB Sciences and Wellcana announced a partnership to develop medical marijuana under the LSU Agricultural Center’s medical cannabis license.
GB Sciences Louisiana President John Davis says patients shouldn’t notice a change, as the the transaction isn’t expected to disrupt medical marijuana production at its south Baton Rouge facility. Read a Daily Report story about Wellcana here, and The Daily Advertiser story on the completed purchase here.
