November 15, 2017
Alternate Health acquires cannabis blockchain point-of-sale and payment software solution
TORONTO -- Alternate Health Corp, an international, vertically-integrated medical cannabis company, today announced the acquisition a new mobile payment processing application, acting as turnkey payment solution and point-of-sale technology with comprehensive blockchain reporting.
"This acquisition is the final piece needed to fully integrate Alternate Health's cannabis-specific Electronic Medical Records (EMR) and Transaction Management software with blockchain technology," says Dr. Michael Murphy, CEO of Alternate Health. "Our complete software suite will ensure full regulatory compliance, empowering governments with detailed financial, tax and transaction reporting and uniquely addressing the demands of the legal cannabis industry."
The regulated cannabis industry is projected to reach US$30 billion in the United States by 2021 and up to $22.6 billion CAD in Canada according to respective reports in Forbes and Maclean's magazines. With such rapid growth, there are numerous opportunities for technologies that ensure safety, security and transparency. Alternate Health expects to capture of a meaningful percentage of this market by offering governments the tools to track end-to-end transactions in regulated cannabis markets.
"Alternate Health's software creates a fixed engine to empower local, state and national governments to monitor end-to-end transactions and collect the exact and appropriate remuneration," says Dr. Murphy. "The new payment solutions and point-of-sale technology bolsters Alternate Health's intellectual property assets and opens up greater revenue generating capabilities for the Company's patented EMR and transaction management software."
The mobile payment processing application creates a complete end-to-end software suite for regulated cannabis businesses, based on Alternate Health's CanaPass and FlorPass software. The software will be available in not only medical cannabis markets, but also recreational cannabis legalized markets, including jurisdictions with state-level legalization, such as Washington and Colorado, and when legalized, countries with national-level legalization, such as is anticipated in Canada by July 2018.