Since its establishment in 2016, in Humacao, Puerto Rico, PRICH Biotech strives to provide well-being through medicinal cannabis to all of Puerto Rico with the highest standards and quality controls.
Focused towards this goal, by 2016 its main operations were established in a pharmaceutical facility, where world-class companies operated for years. Taking advantage of the first-grade infrastructure and after 5 years of evolution, the Medicinal Cannabis company has launched a new and robust growth plan in the local economy. The investment will impact the vertically integrated company with cultivation, manufacturing, distribution, and dispensary divisions.
The company recently acquired the assets to develop a second cultivation and manufacturing facility in Caguas. This step is an addition to the multimillionaire investment in facilities, equipment, and technology at the Humacao plant, totaling more than 420,000 square feet destined for the cultivation and production of medicinal cannabis in a variety of formats, making it the leading and largest company in Puerto Rico in the industry.
“Our most recent investments and expansion of resources will allow us to introduce more and better products benefitting the well-being of patients. We will continue offering the quality of flowers by which we distinguish ourselves and that patients have come to trust. It is time to take the next step. We are expanding and combining the resources of Caguas and Humacao facilities to add products that are attuned to new market behaviors and patient treatments” – mentioned Juan Carrillo – Chief Executive Officer.
“The medical cannabis industry in Puerto Rico has great challenges and, in its development, it frames new realities and dynamics that cannot be ignored. Laws like 14-2021, which protect medical cannabis patients, are the correct path. We should always promote controls and regulatory frameworks that protect patients, allow the industry to grow, and provide an equal framework to those who want to be part of it.” – Carrillo mentioned.
Simultaneously, PRICH has also focused its efforts towards the evolution and strategic investments in TETRA dispensaries across its different locations. The PRICH Biotech retail division continues its growth. With 14 current locations and several under construction, the company looks forward to providing treatment access to patients who want a professional and sophisticated environment when it comes to medical cannabis.