Ed Snider's daughter on investing in what helped her dad: Medical marijuana – Philly.com
Lindy Snider is embracing Pennsylvania’s nascent medical marijuana industry in a big way — and believes her late father, the Philadelphia sports and business icon Ed Snider, would have done the same.
“I know he would have,” Lindy Snider, who wants to build a 125,000-square-foot cannabis growing facility in Northeast Philadelphia, said this week. “And not just because of the health benefits. It’s a solid business decision. This would have appealed to him on so many different levels.”
Ed Snider, the owner of the Flyers and former chairman of Comcast Spectacor, died in April at the age of 83 of metastatic bladder cancer. During his last months, he was in extraordinary pain and couldn’t eat.
“It was horrifying, it was like living a nightmare,” his daughter said. “We had run out of options. So it made sense to try something different.”
She gave her reluctant father some cannabis.
“It was very powerful,” she said. “It restored his appetite. When someone isn’t eating and you can get them to eat in a day, it’s such a big thing.”
The Pennsylvania Department of Health is taking applications until March 20 from businesses vying for 17 licenses to grow medical marijuana in the state, which will allow adults who receive a physician’s certification to purchase products by 2018. With her extensive business experience, personal wealth, and many connections, Snider is considered a front-runner in a field estimated at 800 applicants.
Snider, 56, was recently named to the board of Thomas Jefferson University’s Entrepreneurship and Social Impact Initiative (ESII), part of the Lambert Center for the Study of Medicinal Cannabis and Hemp. One of her start-ups, Lindi Skin, produces skin-care products for cancer patients. She serves on the board of KindFinancial, which provides banking services to the cannabis industry. She is married to Larry Kaiser, president and CEO of Temple University Health