Nottingham-based BCM Specials Ltd, the Specials manufacturer in the UK owned by Fareva, has been acquired by global medical cannabis business, Avida Global Ltd.
The new company, Avida Medical, will manufacture and distribute medicinal cannabis products in the UK, in addition to servicing the existing Specials business. Avida Medical will remain in the D10 Building, Thane Road, Beeston before relocating to a new site in Nottingham later next year.
Avida Medical will be headed up by Paul Parkinson, chief operations officer, MD and head of UK operations at Avida Global. Neil Bashforth, general manager at BCM Specials will assume the role of Managing Director, Avida Medical. All 50 BCM Specials employees will transfer across to the new business.
This acquisition gives Avida Global the accreditation and complete set of licenses required to import, manufacture and distribute medicinal cannabis products in the UK for the human and veterinary market, thereby surpassing this lengthy, complicated and costly process.
David Kirby, Chief Executive Officer at Avida Global, said: “This transformative acquisition is incredibly exciting and gives us extraordinary potential as a business, giving us immediate access to the UK medical cannabis market, home to one of the largest patient populations using cannabis in Europe.
“Our primary driver has always been to bring quality to life and we are committed to supplying the highest quality products, working with partners to create new innovative cannabis-based medicines and helping to improve patient access.”
