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.


Yahoo! Finance: NDEV News

Latest Financial News for NDEV

Novus Hires Insurance Industry Powerhouse Executive to Accelerate Growth

MIAMI, FL / ACCESSWIRE / June 15, 2020 / Novus Acquisition and Development, Corp. (OTC PINK:NDEV), through its wholly-owned subsidiary WCIG Insurance Services, LLC., is the nation's first health carrier offering cannabis health plans to recreational and medicinal users, is pleased to announce the hiring of Mark Kuban to the Novus Cannabis MedPlan team. Mark Kuban comes to Novus as a 30-year insurance executive, having previously worked with Colonial, Sun Life, and Washington National.

Novus Reports First Quarter 2020 Results and Hires Insurance Executive to Accelerate Sales and Operations Growth

MIAMI, FL / ACCESSWIRE / May 28, 2020 / Novus Acquisition and Development, Corp. (OTC PINK:NDEV), through its wholly-owned subsidiary WCIG Insurance Services, Inc., is an insurance entity in health and, the nation's first carrier offering cannabis health plans to recreation and medicinal users, today reported, its financial and operational results for the three months ended March 31, 2020. "The year 2020 shows continual increases in the number of lives covered that continues to drive our revenue growth," stated, Frank Labrozzi, CEO of Novus. "Our Cannabis MedPlan and its business model is designed to weather economic adversity, even during this global COVID-19 pandemic."

Novus Cannabis MedPlan Reports 2019 Earnings Results

MIAMI, FL / ACCESSWIRE / March 16, 2020 / Novus Acquisition and Development, Corp. (OTC PINK:NDEV), through its wholly-owned subsidiary WCIG Insurance Services, Inc., is an insurance entity in health and, the nation's first carrier offering cannabis health plans to recreation and medicinal users, today reported, its financial and operational results for its Earnings Report, December 31, 2019. "Year End 2019 results demonstrate continual sales growth, as we experience momentum in 2020", said Frank Labrozzi, CEO of Novus.

Cannabis Companies Can Boost Value by Utilizing Novus' Business Model

MIAMI, FL / ACCESSWIRE / January 13, 2020 / Novus Acquisition and Development, Corp. (OTC PINK:NDEV), through its wholly-owned subsidiary WCIG Insurance Services, Inc., is a health insurance carrier that contracts with cannabis cultivators, extractor/manufacturers and retailers as its in-network provider for its THC and CBD cannabis health plans. Today, Novus addresses how its health plan that includes cannabis is an ideal alignment for the major cannabis verticals to begin an era of profitability. The essential problem with the cannabis industry is mainly involved with cultivation and extraction known as the "Verticals" where the order of the day is, grow it, crush it and get it out the door.

Novus Reports Third Quarter 2019 Results

MIAMI, FL / ACCESSWIRE / November 19, 2019 / 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, 2019. Novus executed an MGA Agreement with insurance entity Healthfield Solutions, LLC, to market the Novus Cannabis MedPlan.