Metrc, a provider of regulatory track-and-trace systems, announced a strategic partnership with cannabis technology company BioTrack. As part of the agreement, the companies have formed a new independent company, BT Government, to manage BioTrack’s government-facing operations.
“Metrc has agreed to enter a strategic partnership with BioTrack, focused on their regulatory track-and-trace technology in order to improve standards and meet the growing demands of regulators, licensees, and consumers. This partnership will drive economic opportunity in the legal market while enhancing supply chain transparency and improving public safety. We are committed to ensuring continuity in every state program, maintaining transparent, secure and reliable supply chains that benefit regulators, licensees and ultimately consumers," the company said in a statement.
For BioTrack, it means specific assets related to its regulatory technology are being spun off from the company’s core business. It said the move will allow it to expand its focus on commercial cannabis solutions including ERP and POS platforms.
BioTrack has government cannabis track-and-trace contracts in Arkansas, Connecticut, Delaware, Florida, Hawaii, New Hampshire, New Mexico, New York, North Dakota and Virginia.
“We’re excited to partner with Metrc to deliver robust compliance solutions to state regulators,” said Moe Afaneh, General Manager of BT Government. “At the same time, BioTrack is doubling down on its commercial offerings, bringing new innovations to ERP and POS systems that empower cannabis businesses to thrive.”
The companies said that a key focus of this partnership is reducing friction for both regulators and businesses by facilitating faster innovation, better public safety outcomes, and more efficient oversight.
Metrc said it will continue investing in features including lab shopping prevention, individual product verification, and actionable data insights for regulators.
