Momentum For Regulation Reform Of The Medical Marijuana Industry Now Picking Up Steam With House Version Of Carers Bill

CHICAGO, March 27, 2015 /PRNewswire/ -- On Capitol Hill, one of the few issues that Democrats and Republicans can agree on is medical marijuana.  A second bipartisan bill, this one a House companion to the Senate bill introduced earlier in March, could federally legalize medical marijuana in the United States.  Additionally, two more U.S. senators have agreed to co-sponsor the proposed Senate legislation:  Sen. Barbara Boxer (D-Calif.) and Sen. Dean Fuller (R-Nev.).  All this activity only adds to a growing sense that medical marijuana is now on the cusp of mainstream legitimacy.

The repercussions of this new legislation will be felt by a variety of players in the U.S. and global economy.  Development in this sector is currently dependent on private investors, and established financial institutions are watching events play out with a careful eye.  Should any legislation pass, a host of industries ranging from banking to insurance to technology will be significantly affected.

"The change at a federal level is happening much more quickly than anyone expected.  To me, it means the majority of Americans are ready for a change in the classification of this medicine," said Alex Thiersch, managing principal of Salveo Capital in Chicago.  "If the bill passes, the injection of capital into the U.S. economy will be in the tens of billions.  With the right leadership and infusion of more conventional business talent, the industry will be as legitimate as any other private enterprise with access to banks, and interstate commerce. That's when the true green rush will begin."

Salveo Capital, which is the only private equity firm currently funding cannabis growers, sellers, and dispensaries based in the United States, continues to raise additional capital for investment in medical marijuana. 

"Passage of this legislation would mean federal regulation, which means research and development could take place to determine other potential health benefits for patients all over the world," said Thiersch.  "The ability to conduct large-scale research on marijuana, involving thousands of patients, would allow researchers to present statistically significant evidence demonstrating the safety and efficacy of marijuana for a variety of medical indications.  Regulation would also lead to higher standards for patient safety and consumer protection."

Thiersch believes that the business of legal marijuana is already the fastest growing industry in the United States.  A reliable business infrastructure for such an industry will require closer partnerships between the pioneers of this market and established business interests both in the U.S. and abroad.

"Right now everybody is watching each other, waiting for the first person to jump in," said Thiersch.  "But that can change in a minute, and once that happens, it will feel like a dam has burst."

Media Contact:
Mike Beyer
THE HARBINGER GROUP
312-961-2502
[email protected]

SOURCE Salveo Capital

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