PHOENIX – TILT Holdings Inc. (“TILT” or the “Company”) (CSE: TILT) (OTCQX: TLLTF), a provider of business solutions to the global cannabis industry that includes best-in-class inhalation technologies, cultivation, manufacturing, processing, brand development and retail, is pleased to announce that its subsidiary, Jupiter Research, LLC (“Jupiter”), a leading inhalation technology company, has obtained ISO 13485:2016 certification of its Quality Management System for medical devices.
ISO 13485:2016 certification is the latest development in the Company’s strategic expansion of its inhalation business beyond adult-use products, allowing Jupiter to supply the U.S. and European medical cannabis markets with medical-grade inhalation devices. The Company previously announced the expansion of its partnership with Kanabo Research Ltd. (“Kanabo”), to include registering its first medical device for sale in Europe via an audit under the Medical Devices Directive (“MDD”). The MDD is a European Union (“EU”) directive outlining standards manufacturers and importers must meet to legally market or sell their devices in the EU.
According to a study by Data Bridge Market Research, the U.S. medical cannabis market is anticipated to grow over 20% annually, reaching over $80 billion in sales by 2027, while in Europe, Alliance Global Partners expects Germany to become a multi-billion-dollar market by 2025. As these markets grow, Jupiter looks to establish itself as the premier vaporization technology provider nationally and abroad.
“We are exceptionally proud of the Jupiter team for successfully completing the ISO certification process, thus verifying our commitment to providing the cannabis industry with high-quality, safe and consistent products,” said Mark Scatterday, CEO of TILT Holdings. “This is an important milestone for Jupiter, expanding growth opportunities by enabling the development of inhalation devices designed specifically for the medical cannabis community and continuing to open doors for entry into the European medical marijuana market. With ISO certification, we are setting higher standards and providing customers with peace of mind, knowing our devices are manufactured using an even more controlled and supervised process.”
ISO 13485:2016 is an internationally recognized standard for quality management of the design and manufacture of medical devices. The qualification verifies that Jupiter adequately fulfills regulatory requirements and specifications established by the International Organization for Standardization for medical device development and quality management systems. Jupiter can now design and manufacture its own medical device components, as well as act as contract manufacturer for third party companies.
About TILT Holdings Inc.
TILT helps cannabis businesses build brands. Through a portfolio of companies providing technology, hardware, cultivation and production, TILT services brands and cannabis retailers across 35 states in the U.S., as well as Canada, Israel, Mexico, South America and the European Union. TILT’s core businesses include Jupiter, a wholly owned subsidiary and leader in the vaporization segment focused on hardware design, research, development and manufacturing; and cannabis operations Commonwealth Alternative Care, Inc. in Massachusetts and Standard Farms, LLC in Pennsylvania. TILT is headquartered in Phoenix, Arizona. For more information, visit www.tiltholdings.com