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Daniel Barton stepped down as Chief Executive Officer and President of Forian effective February 10, 2023. Max Wygod, Forian's co-founder and Executive Chairman, has been appointed Interim Chief Executive Officer and President. "On behalf of the Board, I want to thank Dan for his dedication to and leadership of Forian," commented Max Wygod

Forian announced the sale of Forian's cannabis software subsidiary, Bio-Tech Medical Software, to Alleaves, a provider of ERP software solutions to the cannabis industry, effective February 10, 2023, for a total purchase price of $30M in cash, comprised of $20M paid at closing and $10M paid in twelve required equal monthly installments, subject to any working capital adjustments. Forian will retain a license to certain cannabinoid-based data to enhance its healthcare information offerings. As a result of the transaction, Forian will focus on its healthcare information business and will no longer provide software solutions to the cannabis industry. "This transaction allows us to focus our efforts on our healthcare information business, which has been the key driver of our growth to date and will further accelerate our path to positive Adjusted EBITDA," said Max Wygod, Executive Chairman of Forian.

Forian announced that New York has selected BioTrack as the track and trace system for the New York Office of Cannabis Management's Cannabis Seed to Sale Tracking System. The BioTrack software, commonly referred to as traceability or seed-to-sale, will track cannabis from when it is first planted as a seed to the point of sale to the consumer. New York's Office of Cannabis Management plans to use the BioTrack seed to sale traceability system to monitor the movement of cannabis products in the state's new adult-use cannabis market and continue monitoring in the state's medical cannabis market, while providing a real-time inventory of cannabis products available and sold in the state and preventing unlawful diversion of products. In New York, all licensed medical cannabis and adult-use cannabis licensees will be required to integrate their own inventory and/or sale tracking systems with the BioTrack tracking system to log the movement of cannabis as it is grown, manufactured into other products, packaged, tested, and sold to qualifying patients or consumers. BioTrack's government traceability system could also help recall cannabis plants and products deemed as unsafe/adulterated, and prevent adulterated and regulated materials from reaching the illicit market.