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MedBox CEO Dr. Bruce Bedrick on marketing medical marijuana and technology that stores and dispenses prescription herbal remedies.
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-- our next guest is calling the recent expansion of medical marijuana industry his company -- box is a health care consulting and technology firm that sells medical marijuana dispensing machines.
Here now is -- box CEO doctor -- bad -- Taking so much for coming on our show.
I -- CM that your company those looking to expand even be a vis a vis dispensing machines go even beyond medical marijuana is that the long term.
Plan.
That's correct it's the short term and the long term plan first -- thank you for having me back on its nice to see you again -- And you've hit the nail right on the head our company -- box is really.
A -- value proposition not just in medical marijuana but certainly in traditional pharmaceuticals and in health care as well.
Our technology specifically.
Provides the ability to basically store inventory control and dispense prescription pharmaceuticals and herbs so we have.
Potential technology for every place in the traditional pharmaceutical and healthcare.
How worlds whether it's a retail pharmacy or a doctor's office or a large employer or -- hospice or prison system.
-- so you can set up a whole dispensary mean you do every sort of consulting beyond just the vending machine that we just -- If somebody is trying to set up a dispensary in California or anywhere else that this is legal.
You're able to help them do that how much of your businesses that.
-- I would say currently right now it's about half of our business.
And just a quick clarification we don't really sell vending machines the technology that we have and in that box equipment.
Is really -- school for pharmacies and pharmacy staff.
It sits behind the counter and for all intent and purposes is the safest way to store inventory control and dispense the medication.
So what's barrier to entry because that seems like something that other companies could just come -- do as well.
Well first and foremost we have very very strong and broad patents that we defend vigorously and number two I believe that -- off.
The the difficulty for most people which we do we help a lot of people start from ground zero all the way through.
Turnkey dispensary.
The difficulty in the states that have now started to come on and start to legislate.
Medical marijuana.
You'll find that there is a limited number of licenses available in each state.
So I believe the process of making application which is so very important.
In which is what we excel at and -- the most success flat in the industry is the key you know is really the key point in the key focus of didn't you -- license.
Do you I mean do you see this already with other controlled substances this kind of dispensary.
Not particularly in May not understand your -- question and answer machine type technology in terms that it out you know having to have a card in and ordering to keep track of drugs as they're being -- It seems like a no brainer I see its application to medical marijuana alienate trying to -- -- and other types of drugs.
Do you see it already for a lot of other types attracts.
Oh it's yes for -- for all the pharmaceuticals if you look.
I mean looking -- you've got kids I've got kids who's got time to wait for fifteen or twenty minutes in line at the at the pharmacy counter.
Typical pharmacies right now are still kind of ancient in the way that they do business and it's very expensive for them.
Anytime you automate the process and use -- box technology we provide a safer more secure war.
Certainly more convenient for the patient and the consumer and more cost the cost effective way.
Our for the -- pharmacy chain to really dispense the medications.
We believe the technology that we have actually evolving entire.
Pharmaceutical industry and the retail model.
Yeah it is really understanding -- stock trades over the -- getting a lot of attention right now for this reason.
I'm -- thanks so much for coming on the show we appreciate it thanks so.
