Vireo Health

Name

Vireo Health

Legal name

Vireo Health LLC

Website

https://vireohealth.com/ny/

Company type

Public

Founded year

2004

Operating status

Operating

Headcount range

501–1,000 employees

Ownership category

akta.pro rank

Product category

Medical Cannabis Retail and Manufacturing

NAICS

Medicinal and Botanical Manufacturing (325411), Health and Personal Care Retailers (456), Pharmacies and Drug Retailers (456110)

SIC

Retail-Drug Stores And Proprietary Stores (5912), Pharmaceutical Preparations (2834)

akta.pro primary industry

Medical Cannabis Dispensaries (CRANAFAB)

akta.pro secondary industries

Cannabis Dispensary + Delivery/Online Pickup (Omnichannel Retail) (CRANAFAG), Cannabis Dispensary + Pharmacy/Clinical Model (Patient Services) (CRANAFAI)

Keywords

• Medical cannabis products
• Cannabis dispensary operations
• Cannabis cultivation manufacturing
• Cannabis vape cartridges
• Multi-state cannabis operator

Headquarters

HQ city

Minneapolis

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Marketing or Sales, Supply Chain, Technology or R&D, Infrastructure

Revenue model

1. Retail Cannabis Sales: Direct-to-patient sales through company-owned Green Goods and Vireo retail dispensaries. Products include cannabis flower, vape cartridges, capsules, oils, and other cannabis-derived medical products.
2. Third-Party Distribution: Products distributed through third-party owned dispensaries in Arizona, Maryland, and New York.
3. Home Delivery: Medical marijuana delivery service in New York covering NYC, Westchester, Rockland, Nassau, and parts of Suffolk County.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Vireo Health cultivates, manufactures, and sells medical and adult-use cannabis products including cannabis flower, premium strain-specific vape cartridges (Vireo Selects with 80%+ THC), capsules, oral solutions, and pharmaceutical-grade extracts. These products are distributed primarily through company-owned retail dispensaries (Green Goods in Minnesota and Maryland; Vireo in New York), third-party dispensaries in Arizona, Maryland, and New York, and home delivery in New York. Physician-supervised patient consultations and pharmacist-led product selection support the retail experience.

Product overview

Vireo Health is a physician-founded, physician-led cannabis company offering medical marijuana products and dispensary services. The company operates retail dispensaries under two primary brands: Vireo Health (medical dispensaries in New York) and Green Goods (medical and adult-use dispensaries in Maryland and Minnesota). The product portfolio includes the Vireo Spectrum platform (color-coded product lines matching products to patient conditions), Vireo Selects premium strain-specific vape cartridges (80%+ THC), and multiple sub-brands including Hi*AF, HiColor, HiRoller, Boundary Waters, Kings & Queens, 1937, Small A$$ Buds, Simple, and Dr. Westwater. The company also offers a proprietary Arches technology platform for omnichannel ecommerce and delivery operations. Products are distributed through company-owned dispensaries and third-party retail locations across Arizona, Maryland, and New York.

Differentiator

Problem solved

Functional benefit

Brands

• Hi*AF: Higher ABV hemp-derived beverages launched in Minnesota to seed adult-use brands.
• HiColor
• HiRoller
• Boundary Waters
• Kings & Queens
• 1937
• Small A$$ Buds
• Simple
• Dr. Westwater
• Arches
• Vireo Selects

Products and services

• Vireo Health Dispensary Physician-founded medical cannabis dispensary brand operating in New York, providing cannabis-based capsules, oral solutions, vaporization cartridges, and vaporization oils staffed by physicians, pharmacists, scientists, and horticulturalists.
• Green Goods Dispensary

Quantifiable outcome

• Q3 2024 revenue of $22.4 million excluding discontinued operations and NY, increased 6.2% year-over-year
• +1 more outcomes

Named customers5 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature3 records

Partnerships

Eight partnerships are on record, tiered flagship, core and minor.

• Ace Venture of NY LLCflagshipStrategic or Co-development Partner · 6 April 2026Strategic partnership where Ace will assume 51% ownership in Vireo Health of New York LLC, establishing what is expected to become New York's first minority-owned and first scaled social equity operator. The partnership combines Ace's local leadership and community credibility with Vireo's decade-long operational platform built through regulated medical cannabis operations since 2014.
• PharmaCann Inc.coreStrategic or Co-development Partner · 22 December 2025Acquisition of 17 retail dispensaries and properties in Colorado for approximately $49 million in subordinate voting shares. Transaction will expand Vireo's adult-use retail footprint in Colorado to 41 total active dispensaries, expected to close H1 2026.
• Proper BrandscoreStrategic or Co-development Partner · 18 December 2024Acquisition target in Missouri - one of the largest independent operators in the state's adult-use cannabis market with 11 retail stores in the St. Louis area and one in Kansas City. Total facility size of 90,000 square feet. Deal valued at 4.175x 2024 Reference EBITDA of $31M.
• Deep Roots HarvestcoreStrategic or Co-development Partner · 18 December 2024Acquisition target in Nevada - consistently solid operator in Nevada's mature cannabis market with 9 retail dispensaries strategically situated in Southern Nevada near Utah border. Total facility size of 54,000 square feet. Deal valued at 4.175x 2024 Reference EBITDA of $31M.
• WholesomeCo CannabiscoreStrategic or Co-development Partner · 18 December 2024Acquisition target in Utah - dominant player in Utah's medical market with large delivery operation covering 99% of Utah's medical patient population from one retail location. Total facility size of 22,500 square feet plus outdoor capacity. Deal valued at 4.175x 2024 Reference EBITDA of $16M. Developer of Arches platform.
• The FlowerycoreStrategic or Co-development Partner · 18 December 2024Acquisition target in Florida - Florida's only family-owned and operated cannabis company, quality-first cultivator with licensing deals with leading west coast brands. 10 active retail dispensaries expanding to 14 by Q1 2025. Total facility size of 120,000 square feet including cultivation. Deal valued at approximately 5.4x Reference EBITDA of $28.3M.
• Last Prisoner ProjectminorStrategic or Co-development Partner · 19 April 2022Partnership with 501(c)(3) nonprofit dedicated to cannabis-related criminal justice reform. Supports efforts to release cannabis prisoners and provides re-entry assistance through micro grants, computer donations, and fair chance hiring programs.
• Green Flower InstituteminorStrategic or Co-development Partner · 14 January 2022Founding member of Green Flower Institute offering standardized cannabis industry education and professional credential programs for dispensary associates, cultivation technicians, and manufacturing agents. Chief Medical Officer Dr. Stephen Dahmer serves on GFI steering committee.

Scale indicators9 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• Trulieve Cannabis: Public MSO with vertically integrated dispensary, cultivation, and processing operations across the US. Comparable in physician/medical positioning, broad state footprint, and aggressive M&A growth strategy.
• Cresco Labs: Public MSO with wholesale, retail, and brand portfolio across multiple states. Comparable through its Columbia Care acquisition and similar multi-state consolidation strategy targeting high-population states.
• Ayr Wellness: Multi-state cannabis operator with dispensaries in limited-license states including Florida, where Vireo is acquiring The Flowery. Comparable in adult-use and medical dispensary operations, and similar EBITDA-driven M&A targets.
• MariMed: Multi-state cannabis operator with dispensaries, cultivation, and branded products in several Northeast and Midwest states overlapping Vireo's footprint. Comparable as a smaller MSO pursuing geographic and brand expansion.
• Acreage Holdings: Multi-state cannabis operator with significant Northeast footprint overlapping Vireo's NY geography. Comparable in physician-supervised dispensary model and patient/caregiver demographic focus.
• Planet 13 Holdings: Nevada-focused cannabis operator with flagship Las Vegas dispensary. Comparable because Deep Roots Harvest (Vireo's pending Nevada acquisition) directly competes in the same mature Nevada retail market.
• iAnthus Capital Holdings: Multi-state cannabis operator with retail and cultivation footprint in limited-license states including Florida and Massachusetts. Comparable in regional MSO scale, regulated medical/retail dispensary model, and recovery-driven balance-sheet posture.
• Green Thumb Industries: Multi-state cannabis operator with branded retail and consumer-products presence. Comparable in dispensary-led go-to-market, multi-state expansion through acquisition, and focus on branded consumer products.
• Verano Holdings: Vertically integrated cannabis MSO operating dispensaries and cultivation across multiple states. Directly comparable in retail-led model, geographic expansion via M&A, and medical/adult-use dual exposure.
• Curaleaf Holdings: Largest US multi-state cannabis operator with retail dispensaries, cultivation, and processing across numerous states. Directly comparable in product mix (flower, vapes, extracts), pharmacist-supervised dispensary model, and multi-state expansion strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/VireoHealth

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Subsidiaries4 records

Funding overview

Funding rounds5 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vireo Health