Amethyst Health Secures Conditional Medical Cannabis License in New York

1.3 min readPublished On: November 15th, 2024By

LOS ANGELES- a partnership between Black Star Wellness, LLC, and AYR Wellness Inc, has been conditionally awarded a vertically integrated medical cannabis license by the New York Cannabis Control Board. This license grants the right to operate as a “Registered Organization” within New York’s regulated cannabis market.

Black Star Wellness holds a majority stake in Amethyst Health, while AYR Wellness serves as an operational partner and minority owner. This collaboration underscores AYR’s commitment to expanding its footprint in the evolving U.S. cannabis industry.

Steven M. Cohen, AYR Wellness’ interim CEO, expressed optimism regarding the announcement:
“We are pleased by today’s news that, alongside our partners with Black Star Wellness, we have been conditionally awarded the opportunity to enter New York and are excited by the prospect of New York’s growing cannabis market. We will work closely with state regulators and our partners at Black Star Wellness to complete the final requirements and begin serving the New York community.”

This conditional license, part of New York’s expanding medical cannabis framework, enables vertically integrated operations, including cultivation, processing, and dispensing of cannabis products. It reflects New York’s broader efforts to enhance market diversity and participation in its regulated cannabis sector.

As the partnership works to meet final regulatory requirements, the collaboration between Black Star Wellness and AYR Wellness positions Amethyst Health to play a significant role in serving medical cannabis patients in New York.

AYR Wellness, a multi-state cannabis operator, continues to expand its reach across the United States, emphasizing compliance and community engagement in emerging markets.

For additional details, visit www.AYRwellness.com.

About the Author: HCN News Team

The News Team at Highly Capitalized are some of the most experienced writers in cannabis and psychedelics business & finance. We cover capital markets, finance, branding, marketing and everything important in between. Most of all, we follow the money.

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