Deseret Wellness

Deseret Wellness, LLC operated as a medical cannabis pharmacy platform in Utah, founded in 2019 and officially launching in 2020. The company focused on providing patients with access to alternative therapies in a compliant and educational environment. Its business model centered on the retail sale of medical cannabis products to patients holding valid medical cannabis cards issued in Utah. The company generated revenue directly from the sale of these products, which included a wide range of options such as cannabis flower, vape cartridges, edibles, tinctures, and concentrates.

The first pharmacy opened in Provo in August 2020, followed by a second location in Park City in February 2021, which was the only medical cannabis pharmacy in the Wasatch Back region, serving Summit, Wasatch, and Morgan counties. Deseret Wellness was one of the initial 14 pharmacies to be awarded a license by the Utah Department of Health in early 2020. The pharmacies were designed to be ADA-compliant and featured amenities like specific seating for patients experiencing pain, aiming to destigmatize and professionalize the medical cannabis experience. To enhance patient access, the company offered online ordering and delivery services.

In March 2023, Curaleaf Holdings, Inc., a leading international cannabis provider, announced its definitive agreement to acquire Deseret Wellness for approximately $20 million in a cash and stock transaction. At the time of the acquisition announcement, Deseret Wellness was the largest cannabis retail operator in Utah, with a combined annualized revenue run rate of $14 million from its locations in Park City, Provo, and a third in Payson. The acquisition was completed in April 2023 and was the largest cannabis retail change of ownership in Utah's history, increasing Curaleaf's retail footprint to four dispensaries in the state and 150 nationwide. Following the acquisition, the Deseret Wellness locations were rebranded to 'Curaleaf'.

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