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SOFTWARE (NON-INTERNET/MOBILE) | Database Management Software

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Stage

Acquired - II | Acquired

Valuation

$0000 

About Remedy

Remedy delivers Service Management software solutions that enable organizations to automate and manage internal and external service and support processes. All Remedy applications, including Help Desk, Asset Management, Change Management, Service Level Agreements, and Customer Support, are built on the highly flexible Action Request System, empowering customers to easily adapt their Service Management solution to unique and changing requirements.

Remedy Headquarter Location

Mountain View, California,

United States

Latest Remedy News

Jushi Buys Nature’s Remedy in $110 Million Deal

Apr 19, 2021

Jushi Holdings Inc. (OTCMKTS:  JUSHF ) is buying a vertically integrated single state operator in Massachusetts called Nature’s Remedy of Massachusetts, Inc.  in a deal valued at $110 million. The acquisition is expected to close in the second half of 2021. Nature’s Remedy currently operates two retail dispensaries, in Millbury, MA and Tyngsborough, MA, and a 50,000 sq. ft. cultivation and production facility in Lakeville, MA with approximately 19,500 sq. ft. of high-quality indoor flower canopy and state-of-the-art extraction and manufacturing capabilities. “We are excited to announce that we have signed a definitive agreement to acquire Nature’s Remedy, a vertically integrated business operating high-quality, well-managed assets in Massachusetts,” said  Jim Cacioppo, Chief Executive Officer, Chairman, and Founder of Jushi . “Our entrance into Massachusetts will mark the seventh state where we operate cannabis assets and the third state where we are vertically integrated. This acquisition will enable us to rapidly build scale in an important, maturing adult-use market with a defensible retail position and a solid cultivation footprint with significant opportunities to expand.” Terms of the Deal Jushi has agreed to acquire Nature’s Remedy for an upfront payment of $100 million which will be $40 million in cash, $55 million in subordinate voting shares of Jushi, and $5 million unsecured promissory note. Jushi has also agreed to issue up to an additional $10 million in shares upon the occurrence or non-occurrence of certain conditions after the closing date, bringing the total potential consideration for the acquisition paid by the company to $110 million. Who Is Nature’s Remedy? The Millbury dispensary is located in the town of Millbury, MA just south of Worcester, MA. The Millbury dispensary caters primarily to the local population and surrounding underserved areas. The Millbury dispensary provides ample parking for its patrons and is strategically situated along the Worcester-Providence Turnpike, which sees approximately 10,600 cars per day. The Millbury dispensary is located in close proximity to the Shoppes at Blackstone Valley, the largest open-air shopping center in Central Massachusetts, and the Mass Turnpike. Tyngsborough is located in northern Middlesex county just south of Nashua, New Hampshire. The Tyngsborough dispensary is strategically located in close proximity to the Pheasant Lane Mall, one of the largest malls in New Hampshire, as well as in close proximity to an exit on Route 3 / Northwest Expressway, which sees 60,000 to 80,000 cars per day. There is ample customer parking with potential for expansion. The 50,000 sq. ft. Lakeville Facility is located within a 185,000 sq. ft. industrial complex. Currently, the Lakeville Facility’s flower canopy encompasses approximately 19,500 sq. ft., which Nature’s Remedy expects to expand to approximately 31,000 sq. ft. during the second half of 2021. The Lakeville Facility utilizes CO2 extraction and has a full kitchen for edible production. Current flower production at the Lakeville Facility is approximately 6,800 lbs. / year, which, as part of the expected expansion, Nature’s Remedy could increase to approximately 11,000 lbs. / year based on 31,000 sq. ft. of canopy. Post Views:

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Research containing Remedy

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CB Insights Intelligence Analysts have mentioned Remedy in 5 CB Insights research briefs, most recently on Jul 14, 2021.

Expert Collections containing Remedy

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Remedy is included in 1 Expert Collection, including Smart Money VCs (2017-2019).

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Remedy Patents

Remedy has filed 3 patents.

The 3 most popular patent topics include:

  • Amines
  • Analgesics
  • Concrete
patents chart

Application Date

Grant Date

Title

Related Topics

Status

5/12/2016

7/11/2017

Cycle types, Sailing rigs and rigging, Structural engineering, Transparent materials, Concrete

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Application Date

5/12/2016

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Grant Date

7/11/2017

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Related Topics

Cycle types, Sailing rigs and rigging, Structural engineering, Transparent materials, Concrete

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Status

Grant

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