Alternative Medical Enterprises, LLC (“AltMed”), a fully integrated company that brings pharmaceutical industry precision to the development, production and dispensing of medical cannabis, is pleased to announce the appointments of Bill Landman and David Clapper to the AltMed Board of Directors.
Landman is a co-founding and managing principal of Philadelphia-based MainLine Investment Partners, LLC (“MLIP”), where he directs the investment activities, management, and strategic initiatives of MLIP and its affiliates. For over 30 years, Landman has also been a principal and senior managing director of CMS Companies, an alternative investments firm that managed approximately $4.2 billion of equity capital commitments over three decades. Landman currently serves as a Board Member of Thomas Jefferson University System and previously served as Chairman of the Board at Thomas Jefferson University Hospital.
Also a co-founding principal of MLIP, Clapper spends the majority of his time identifying, performing due diligence on, and managing investments in operating businesses and real estate assets. Clapper is also involved in the control, operation, and ownership of MainLine Private Wealth and Merion Realty Partners. He serves as an executive officer for MLIP and each of its companies, and assists Landman in directing investment, management, and strategic initiatives.
“Both Bill and David bring a proven track record in developing and executing highly successful finance, management and operational plans for companies during their expansion phase,” said R. Michael Smullen, AltMed Chariman and CEO. “The timing of their appointments is perfect, and they will be tremendous assets during this rapid growth phase of AltMed.”
“We’re very excited that AltMed is ideally positioned for growth in Florida, Arizona, nationally and globally,” said Bill Landman, managing principal of MainLine Investment Partners. “We look forward to contributing to AltMed’s ascendance in the medical cannabis industry.”
In April, AltMed announced a private placement financing of $35.4 million with MLIP and other investors, with the financing facilitating AltMed’s launch into the medical marijuana marketplace in Florida, the build-out of 25 authorized dispensaries, as well as accelerating growth of the company’s business in Arizona. The investment will also provide capital to grow AltMed’s award winning MÜV™ brand of premium cannabis products nationally and internationally.
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.
The MÜV brand of cannabis infused products was launched in Arizona in 2016 and has quickly gained international attention and recognition. In its first six months alone, MÜV received four best of Arizona medical cannabis awards, including two first prizes for its proprietary extractions that are the basis of all MÜV products.
About MainLine Investment Partners
MainLine Investment Partners (“MLIP”) and itsaffiliates focus on investing in operating businesses and real estate assets, as well as private wealth management and multifamily residential property management. MLIP’s principals have managed over $3 billion of equity capital commitments in alternative investments since 1987, have approximately 70 combined years of experience working together, and are currently responsible for directly or indirectly overseeing the management of approximately $1 billion of invested capital and assets under management.
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.