POST CATEGORY: Profiles

Meet Larry Twersky, CEO of TimerCap

February 01, 2017 | WES ABNEY

Chatting with the founder of 1-800-Dentist about how he got into running TimerCap, which helps you keep track of your Cannabis.

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How did TimerCap get started?

TimerCap was started six years ago by a friend from college I knew for over 30 years. I was one of the original investors, and after some time of it not going the way we planned, some of the other investors decided to make a change and so I took it over. I had just sold 1-800-DENTIST, and it was the right fit at the time.

What made you want to invest in TimerCap?

It struck a cord for me. My mom was addicted to prescription pain meds. When I was 9, I remember having to give her Demerol shots in her tush. She was either strung out or mad because we couldn't give her meds, and she ultimately died at 60 due to medical complications, and I never knew her not strung out on something. So it hit personally. When my wife and I do investing, we follow three principles: It has to be good for society, we have to have fun, and three, we have to make money. And it’s in that order. That’s our priority ladder.

Is the company giving back?

[The principles] don’t end with the companies we work with. TimerCaps are made in North Hills, California by a company of autistic adults who put together our products and a lot of other products. If companies want to do work with American workers, this is a great group to do it and they produce great work. You just have to know you can do good and make money at the same time. You have to have it in your consciousness.

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How are TimerCaps helpful for opiate patients?

When you take an opioid, you are cognitively impaired and time becomes an issue. We’re saying, “bad people, bad people,” when it comes to addiction, but what tool did we give them when 20 minutes seems like two hours when you are in pain? We need to provide tools that let patients have self-empowerment so they can know what is safe when they get back in the car or take their next dose. This can be an incredibly effective tool for both safety and addiction/harm reduction.

What problems do you see with the way prescriptions are currently dispensed?

Pharmacies are allowed to sell pill organizers that don't meet or exceed drug safety laws in states they are sold in. You can dispense into a non-descript pill box, leaving emergency workers wondering what a person might be taking. That's tantamount to a car dealer disabling car seats and air bags. It’s ridiculous. When you go into a pharmacy, there are safety laws for a reason. The fact that you can turn around from the pharmacy and put in a new package that they sell for profit is hypocritical. Do they believe in the safety info? Do they believe in what the doctors wrote? If we have laws, we should enforce the laws. In an environment where 50 percent of the population doesn't take medication as it is prescribed, I believe we are setting people up for failure without compliant packaging.

timercap-ceo-2.jpgHow does TimerCap solve this issue?

There are three main points. 

First, it lets a patient know the last time they opened their medication. Secondly, it’s a household deterrent; anyone can know the last time a medication was opened, and the ability for misuse or theft/abuse is deterred through awareness of it being opened. It’s a diversion, detection and awareness tool. 

The final point is that it maintains the complaint nature of the original packaging with the legally required information listed.

Your company also has a MMJ line. How do you feel about medical Cannabis and how can your product help?

Laws for opioids are getting stricter and stricter, which is good for the Cannabis industry, and if you are in pain, you are going to look for a way to deal with your pain, and people need a safe way to know how to ingest their Cannabis. 

You need to know if roommates get into your stash; if they know that you know, they won't do it. So, we have three points that are the same for opioid abuse and Cannabis.

Finally, it is just like any other drug, so if it is in the house with children, it needs to be in child-resistant packaging and people need to know when it is safe to get behind the wheel. We have them in different sizes for concentrates and for vape pens and flowers, and so you get to know the last time it was opened, and if it’s in a car and you haven't used it, that could be very useful information.

You also co-brand your product with Rite Aid, CVS and weed dispensaries. How does that help a Cannabis company?

One of the things that we really encourage is that we are a great first-time gift for dispensaries to hand out. While it’s a good thing for patients to buy, we customize our caps for dispensaries and the dispensaries that use us for first-time patients see a huge benefit. This is one of the best viral tools a dispensary can hand out. Spending a few dollars on getting a branded viral marketing tool and giving the patient a memory tool to remember the dispensary, plus a way to remember how to measure when it’s safe is the best social responsibility tool a dispensary can hand out. The companies that choose this show that they are smart marketers and have a tangible way to show corporate responsibility as well as the benefit to the community.

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