MoBay's Zimmer and Co raises US$1 million


MoBay's Zimmer and Co raises US$1 million

Sunday, July 29, 2018

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MONTEGO BAY, St James — Montego Bay-based health and wellness distribution company Zimmer and Co recently closed a US$1-M investment round from local and international investors.

The capital will be used to finance Zimmer's expansion in Jamaica and accelerate its plans to distribute quality health and wellness products in Jamaica and the rest of the Caribbean, as well into Colombia, Mexico, Canada, and throughout Europe.

“It has always been our goal to distribute within Jamaica, the Caribbean and beyond a portfolio of quality locally produced finished products for the industry. We are looking to world-class GMP and GMP EU-certified products that combine established and world-class formulations produced in Jamaica with local inputs to create exciting, effective products that can be exported across the globe,” Zimmer CEO T'Shura Gibbs shared.

The move sets the stage for the creation of local 'Made in Jamaica' finished products to reach international markets.

Gibbs, who left her senior corporate role with JPS earlier this year to launch her business, has seen the company grow extremely quickly.

“We have deliberately focused on the hemp-based CBD (cannabidiol) wellness aspect of the industry, and this has allowed us to move very quickly in establishing a number of manufacturing partners and distribution outlets. We have invested substantial time and resources to ensure full compliance with the Ministry of Health in Jamaica and will continue to follow that path,” she said.

The company sells only products which have been approved for sale in Jamaica by the Ministry of Health and for which there are proper approvals and documentation.

Zimmer and Co has engaged with various governments and organisations throughout the Caribbean and has secured distribution partners in Colombia and Canada, the company is presently in negotiations with partners to take its products into Mexico, Italy and the UK.

Zimmer will use the investment to further finance the company's expansion through new products, new markets and increased marketing. The company puts special emphasis on quality products that are safe and effective, and partnerships that provide long-term growth and expansion opportunities.

“We are looking for partners on all sides who see the long-term opportunities in the industry. We want to create jobs, we want to create wealth. I am Jamaican ,and a very proud Jamaican at that, and I feel very strongly that we should play a significant role in this industry at every level,” Gibbs told the Jamaica Observer, adding that the health and wellness distribution company is currently looking to add in several areas to its existing team of seven.

Based in Montego Bay, the company has secured its pharmacy wholesale distribution licence which permits legal sale to pharmacies, doctors and hospitals on the island. It currently distributes a portfolio of just over 50 hemp-based CBD products including vape, oils, sublingual, tablets, skincare and other items.

The company has quickly established itself as a key player in the burgeoning Jamaican medicinal cannabis market with sales into 50 of the leading pharmacies on the island for its portfolio of approved products. But Gibbs expects that number to increase in short order.

“We now have our CBD skincare, our oils, vape, sublingual, tablets, and other products in some of the top pharmacies in Jamaica and our team is working assiduously to ensure we get our products all across the island.”

She is upbeat over the feedback from customer so far.

“That is truly the most inspiring part of this journey. The testimonials have been incredible. There have been so many stories already; from people who had difficulty sleeping and are now enjoying a good night's rest to those who had been suffering from anxiety and are now calm to people whose everyday arthritis and aches and pains are no longer,” an upbeat Gibbs stated.

She believes that the medicinal cannabis market holds tremendous potential for the Caribbean nation.

“As the industry evolves, we welcome the significant job creation and economic value that will be derived. This investment does not only bode well for our growth and development as an organisation, but it allows us, in collaboration with other partners, to move Jamaica directly into the critical finished goods segment of the industry, where we can manufacture products in Jamaica and export globally. The 'Made in Jamaica' brand is very strong and we feel that this partnership — combining quality Jamaican products with established, world- class formulations that have been approved in the global markets affords — us s tremendous opportunity to open doors for our products across the world,” Gibbs told the Sunday Observer.

The investment will facilitate Zimmer's business expansion in line with its plans. This investment will finance its marketing initiatives and expansion into new markets and retail points, while providing access to additional products that we can move through its distribution channels.

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