The Best Companies to watch for 2022
Etain Health: Innovating Medical Marijuana
After years of being considered an illegal substance, Marijuana has been re-evaluated as a medically relevant substance with health benefits. Presently, medical Marijuana is used for the treatment of various ailments from cancer to chronic pain.
Founded in 2015, Etain Health secured one of the original five medical marijuana licenses in New York. The company specializes in the knowledge of Medical Marijuana and elevating its medicinal properties for manufacturing high-quality products. Etain was founded by Amy Peckham along with her two daughters Hillary Peckham and Keeley Peckham. It is the only women and family-owned, and vertically integrated Cannabis Company in New York.
Distinct Array of Medicinal Marijuana Products
Etain’s products are currently created on an exclusive basis for registered patients in the New York State Medical Marijuana program. The company’s unique line of products includes honey infused lozenges, a water-soluble powder, and its latest product—the Motif Magnetic Vape Pen. For every product, Etain maintains and carefully chooses the CBD-to-THC content ratio to deliver a specific mix of benefits.
Operated by Dynamic Leaders
At the core of the company, Amy spearheads the team of Etain as the Chief Executive Officer. Being at the helm, Amy undertakes everything from board meetings to packaging discussions. She states, “Being women-owned and family-operated my roles and responsibilities as CEO extend into every facet of the business.” While Hillary Peckham serves as the Chief Operations Officer, Keeley Peckham has been the architect of the company’s state-of the-art cannabis cultivation and processing operations as the Chief Horticultural Officer.
Propelling Wheels of Motivation
Being a small business, Amy considers constantly motivating the team—whether they are in the upstate cultivation facility, the corporate office, or one of the company’s retail locations—as an essential aspect of Etain’s continued success.
Remarking on the company size, Amy quotes, “I think in some ways it’s given us the ability to be more nimble and flexible. We all have the same goals and we work hard.” She further adds that having open communications from the company’s leadership team to all employees in the various departments was also a crucial matter during challenging times such as the COVID-19 pandemic.
Female-Oriented Work Ambience
Etain’s commitment to empowering women makes the company one of a kind. Its majority female leadership team is partially by design and its female-oriented structure produces a comfortable place for women to work. The company harbors a staff size of 60 people within the state of New York.
With a compact strength, Etain aims for equity in the workplace. The company prioritizes providing opportunities for the advancement and inclusion of women. For instance, in its manufacturing facility, the company is focused on trying to get women back into the workplace after having kids. About 70% of Etain’s management is women, while 65% of the entire company is constituted of females.
Family-Centric Feedback Accounting
Etain harbors a family-centric approach for its customers. The knowledge that each Etain customer is also someone else’s family provides the company its personable touch with a family-first approach and a deep focus on quality and service. The company processes its customer feedback imperatively and uses it to understand how its current products and formulations are working and improving the daily lives of its patients. Additionally, Etain also takes account of its customers’ feedback to monitor product considerations for future launches.
Expanding In Challenging Times
During the pandemic, Etain expanded its retail presence with the relocation of their New York City location, the sophisticated dispensary on East 58th Street is the Flagship of their four dispensaries. They also launched a full rebranding and product reformulation.
Although the pandemic delayed the company’s original opening of its flagship, providing care to the patients served as the biggest motivator for Etain. The company was able to transform a 5,000 square foot street-level space into a dispensary and retail location for the commercial distribution of its medical marijuana and an array of health and wellness items.
Balancing Creativity and Innovation into Operations
Creativity and innovation are the cruces of the industrial segment. As a highly regulated industry, it is challenging to be innovative and creative in the cannabis space. However, every team of Etain puts constant efforts to foster creative ideas using innovation in such a way that makes the company cultivate its products to sourcing the largest variety of high-quality dosing methods and devices. Etain’s latest product, the Motif Magnetic Vape Pen, serves as a great example of the company’s collective efforts to ideate, create and launch something new and unique to the market with current regulations.
Aiming for Future Scaling
Etain upholds several proliferative plans for implementation in the near future. The New York Office of Cannabis Management has recently announced the addition of whole flower cannabis to the New York State Medical Marijuana Program. The product has been heavily demanded by Etain’s patients and as a result, the company is eagerly anticipating making it available. In addition, the company plans to continue being the go-to for a concierge medicine experience within the Medical Marijuana program as the New York market continues to expand.
Etain has also been granted a recommended selection for a vertically integrated permit in New Jersey. The award enables Etain to propel forward with plans to open a cannabis growing and processing site and medical dispensary in the state. As a result, it will also transform the company into a multi-state operator and bring its high-quality products to more medical cannabis patients.
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