Altitude International Signs Agreement to Acquire Stem Lyft
Altitude International Holdings (ALTD) announced a Letter of Intent to acquire Stem Lyft, a wellness center in Spring, Texas. Following the acquisition, Stem Lyft will be rebranded as Altitude Wellness and will function as a wholly owned subsidiary. The deal includes Stem Lyft funding expansions in Florida and the installation of an Altitude Chamber. CEO Greg Breunich highlighted the deal as an opportunity to create a recurring revenue stream while focusing on wellness applications. This acquisition aligns with ALTD's strategy to enhance its market presence in the wellness sector.
- Acquisition of Stem Lyft enhances ALTD's market presence in wellness.
- Stem Lyft funding expansion in Florida could lead to increased revenue.
- Potential to generate recurring revenue stream from wellness centers.
- None.
PORT ST. LUCIE, Fla., April 13, 2021 /PRNewswire/ -- Altitude International Holdings, Inc. (OTCQB: "ALTD") has announced the signing of a Letter of Intent with Total Lifestyle Care LLC (dba "Stem Lyft") through which ALTD will acquire all outstanding shares of Stem Lyft. Stem Lyft operates a "Total Wellness Center" in Spring, Texas and is in the process of executing an expansion program through a national franchising strategy.
Under the terms of the Agreement, Stem Lyft will change its name to Altitude Wellness and will operate as a wholly owned subsidiary of ALTD following the closing. Prior to the closing, Stem Lyft has also agreed to pay for the expansion of the present Stem Lyft site, including the purchase of a new ALTD Altitude Chamber, as well as funding two new fully equipped locations in Florida including all operating costs for the first 3 months.
"This is a very exciting deal for us for a number of reasons," said ALTD CEO Greg Breunich. "Our altitude chambers will now be the centerpiece of our own chain of wellness centers and will be utilized by doctors for weight loss, physical rehab, and a variety of other applications where altitude exposure has shown measurable documented benefits. This new model will also be generating a re-occurring revenue stream for our altitude chambers, something I have been working towards since I became CEO of ALTD three months ago. Add to that a team of entrepreneurial doctors and we have ourselves a very compelling opportunity."
Dr. Huong Le, CEO of Stem Lyft added, "Stem Lyft looks forward to being a big part of the ALTD family. Our team of forward-thinking doctors and staff have shown great vision and built a proven model in the holistic and medical wellness arenas focusing on the field of functional and nutritional medicine. Stem Lyft was one of the first wellness clinics to offer Covid testing with rapid nasal and PCR technology under EUA guidelines. We partnered with 200 corporations to offer early Covid screenings to their employees in an effort to flatten the pandemic curve. We are in the process of evaluating various protocols to strengthen body immunity and increase performance and recovery with a core vision of holistic preventive medicine. With the addition of our renowned executive staff, board of directors and our many celebrity endorsements, we are confident that Altitude Wellness will become a household name and leader in the wellness industry."
ABOUT ALTITUDE INTERNATIONAL HOLDINGS
ALTD provides custom-built simulated altitude chambers and position-specific protocols to its clients, which include the Orlando Magic, an NFL franchise, Tulane University, and Woodway, a leading high- performance treadmill manufacturer. ALTD's team of acclaimed sports scientists represent some of the world's most accomplished in the formulation and execution of cutting-edge training techniques. ALTD chambers have contributed to documented performance improvements for its clients, including the shattering of a world cycling record at Woodway. ALTD recently signed an LOI to acquire Breunich Holdings, Inc. Greg Breunich currently serves as CEO for both Breunich Holdings and ALTD. For more information about ALTD, please visit altdint.com.
SAFE HARBOR STATEMENT
This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. The economic, competitive, governmental, technological and other factors identified in the Company's previous filings with the Securities and Exchange Commission may cause actual results or events to differ materially from those described in the forward-looking statements in this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements whether as a result of new information future events or otherwise.
Media contact: Adrienne Mazzone 561-908-1683; amazzone@transmediagroup.com.
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SOURCE Altitude International Holdings, Inc.
FAQ
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