Novus Acquisition and Development Corp is an insurance provider to patients and professional organizations in the medical marijuana (MMJ) sector. Among the services it offers are medical and health insurance plans and risk management. The company has subsidiaries that offer these services to various consumers.
For cannabis patients, Novus Acquisition’s wholly owned subsidiary is Novus Medical Group, Inc. A primary product of this subsidiary is a medical plan called the Novus MedPlan, which is marketed to individuals and families who want to save costs on cannabis or hemp wellness. Novus touts this product as an answer to a need in the marijuana wellness sector, because there are few insurance providers that cover medicinal marijuana. Aside from the MedPlan, there are other related insurance services that Novus Medical Group provides.
Meanwhile, for MMJ groups and businesses, Novus Acquisition has the subsidiary NovusQC. This subsidiary’s services include business risk management, independent compliance review, healthcare risk management, and liability exposure review for physician’s practice. Among the target consumers for these are employers, organizations, and municipalities with medical marijuana programs.
Novus Acquisition and Development Corp also stated its plans to acquire, merge, or create joint ventures with other MMJ companies, specifically those that are small to midsized and are seeking capital. However, the company clarified that it is not a direct handler of marijuana, but instead only an outside developer.
Novus was incorporated in 1996 and has since operated under various names such as Shirazi Corporation, Surface Tech, Inc, as well as BrandQuest Development Group, Inc. It finally became Novus Acquisition and Development Corp in 2009.
Currently, Novus is traded as NDEV in the OTC markets, with a market cap of USD 60.7 M.
The top executive at Novus is CEO and Chairman Gary Frank Labrozzi, alongside Company President Chris Pittman and Director Andrea Lopez.
Novus Acquisition and Development Corp.
13020 SW 92 Ave
Miami, FL 33176
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