novus

Novus Acquisition and Development Corp, through its subsidiaries, is a provider of various insurance and planning services to the medical marijuana industry. It offers medical and health insurance plans to cannabis patients, and professional services like risk management to cannabis organizations.

Incorporated in 1996, the company formerly operated under various names, including Shirazi Corporation, Surface Tech, Inc, and BrandQuest Development Group, Inc. In 2009, it changed to Novus Acquisition and Development Corp.

Today, Novus is listed in the OTC markets as NDEV, and has a market cap of USD 60.7 M.

The company’s wholly owned subsidiary for cannabis patients is Novus Medical Group, Inc. The subsidiary offers products such as health insurance and medical plans, alongside other related insurance services. Its principal product is the Novus MedPlan, a medical plan made for individuals and families, allowing them to save costs in the cannabis and hemp wellness sectors. According to Novus, this product answers a need in those sectors because many health insurers currently do not cover medical marijuana.

The other subsidiary of Novus Acquisition and Development Corp is NovusQC, catering to groups and businesses in the MMJ industry. Some of the targets of NovusQC are employers, municipalities, and organizations. The subsidiary provides services like business risk management, healthcare risk management, independent compliance review, and liability exposure review of physician’s practice.

In addition to these, Novus has also stated its intentions to acquire, merge with, or form joint ventures with MMJ companies (small to midsized) that are seeking to obtain capital. The company however emphasizes that it acts only as an outside developer and not a direct handler of marijuana.

The management team at Novus Acquisition and Development Corp includes Chairman and CEO Gary Frank Labrozzi, President Chris Pittman, and Director Andrea Lopez.


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Latest Financial News for NDEV

Novus to Launch its Own Dedicated Cannabis Telemedicine Platform

MIAMI, FL, Feb. 19, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Novus Acquisition and Development, Corp. (OTC Markets: NDEV), through its wholly owned subsidiary WCIG Insurance Services, Inc., a diversified insurance entity in health, annuity and accident, and, the nation’s first carrier/aggregator offering a cannabis health plan, today announced that it will launch an updated telemedicine offering. Telemedicine technology allows healthcare practitioners to consult with patients in real-time via telecommunications technology to evaluate, diagnose and treat patients remotely. Telemedicine is attracting attention globally and is seamlessly suitable for medical cannabis and traditional health insurance benefits.

Novus Accomplishments in 2018 Are Precursor to Accelerated Growth for 2019

MIAMI, FL, Jan. 08, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Novus Acquisition and Development, Corp. (OTC Markets: NDEV), through its wholly owned subsidiary WCIG Insurance Services, Inc., is a diversified insurance entity in health, annuity and accident, and, the nation’s first carrier/aggregator offering a cannabis health plan, is pleased to provide a review of its accomplishments in 2018 and how they are expected to lead to accelerated growth and expansion to its cannabis health insurance business model for 2019. Novus management has the distinct pleasure to share the Company's milestones to-date and provide new and existing shareholders insight regarding our plans for growth as we seek to expand our business model with a focus on increasing revenue and net asset value.

Novus to File as a Cannabis HMO in the State of California

MIAMI, FL, Dec. 13, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Novus Acquisition and Development, Corp. (OTC Markets: NDEV), through its wholly owned subsidiary WCIG Insurance Services, Inc., is a diversified insurance entity in health, liability, annuity and accident, and, the nation’s first carrier/aggregator offering a cannabis health plan, today announced its plans to file as an Health Maintenance Organization (HMO) in the State of California. Novus Cannabis MedPlan had a positive initial teleconference with the California Department of Managed Health Care (CDMH) regarding filing its Cannabis MedPlan as a Health Maintenance Organization (HMO).

Novus Reports Q3 2018 Record Revenue for 9 Consecutive Quarters

MIAMI, FL, Nov. 14, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Novus Acquisition and Development, Corp. (OTC Markets: NDEV), through its wholly owned subsidiary WCIG Insurance Services, Inc., is a diversified insurance entity in health, liability, annuity and accident, and, the nation’s first carrier/aggregator offering a cannabis health plan, today reported financial and operational results for its third quarter ended September 30, 2018.

Novus Signs Agreement with Alloy Insurance Services, a National Provider to Bundle Cannabis MedPlan

MIAMI, FL / ACCESSWIRE / October 9, 2018 / Novus Acquisition and Development, Corp. (OTC PINK: NDEV), through its wholly owned subsidiary WCIG Insurance Services, Inc., is a diversified insurance entity in health, liability, annuity and accident, and, the nation's first carrier/aggregator offering a cannabis health plan, today proudly announces its footprint expansion as it signs an agreement with Alloy Insurance Services, a new group provider to bundle Novus Cannabis MedPlan. Novus executed a bundling agreement with Alloy Insurance Services LLC, an entity that provides employee benefits and administration services for over 50,000 employees nationwide.