GelStat gets medical marijuana foothold with Mastix Medica acquisition
- Gelstat, which markets OTC consumer healthcare products, will acquire Mastix Medica, a company that makes tableted products.
- Mastix Medica is one of the few companies in the world that can make functional chewing gum products.
- In April 2014, Gelstat launched Chew 2 Lose Appetite Suppressant Gum.
Florida-based Gelstat’s classic vertical integration strategy is underscored by their desire to move more aggressively into the weight-loss market. In April, the company launched Chew 2 Lose Appetite Suppressant Gum. The acquisition of Matrix Medica, which is based in Maryland, brings two additional weight-loss chewing-gum products: Green Bean Coffee gum and Welltrim gum. In addition, the acquisition will give Gelstat a foothold in the high CBD/low THC industrial hemp and medical marijuana market. The acquisition will add more than $500,000 in Q3 revenue.
- www.drugstorenews.com GelStat acquires Mastix Medica