Cann American Corp (OTC:CNNA) Issues Update on Prodigy Stem Cell Acquisition and Company Direction
Cann American Corp (OTC:CNNA) operates as a holding company and is involved in building a diverse intellectual property portfolio. Earlier on in the week on March 27, the company had been in the news after it came up with a key corporate update. It announced that earlier in the month on March 1 it had completed the acquisition of Prodigy Step Cell.
The acquisition is strategic in nature for the company since Cann American is looking to bring about an expansion in its operations by becoming a holding company involved in alternative therapeutics starting from CBD to regenerative medicines. In the short term, Cann American would be generally involved in helping with the growth and expansion of the Prodigy brand and vision.
The stem cell industry has experienced significant growth in recent times and is expected to grow rapidly in the coming years too. As per research reports which are publicly available, the value of the global stem cell market now stands at $12 billion. However, by 2030, the value of the market could hit as much as $30 billion.
Prodigy Stem Cell believes that its business model is well-equipped to corner a major portion of the stem cell market in the United States over the coming years. The company commands exclusive access to stem cells of the highest quality and that is one of the core aspects of its growth strategy.
Prodigy operates as a wholesaler and would offer its range of products to doctors, plastic surgery centers, sports medicine establishments, and health and wellness clinics. The company expects to achieve such a distribution network through a sustained marketing campaign that would include conventions and brand ambassadorships. For instance, the company has already started the process of recruiting notable athletes for the purpose of promoting its brand.