Mitesco Signs Lease for Its Seventh Clinic Nationally and Its Fifth Minneapolis Location
Mitesco, Inc. (OTCQB: MITI) has secured a lease for its fifth Twin Cities Good Clinic™ location in Maple Grove, a rapidly growing area in Minnesota. This clinic is part of the company’s expansion strategy to open a total of seven clinics in the Minneapolis–Saint Paul and Denver areas by the end of 2021. The Maple Grove site is ideally located near communities with a high concentration of potential patients. The Good Clinic aims to enhance healthcare accessibility through technology and personalized care.
- Secured a lease for the fifth Good Clinic location in Maple Grove, tapping into a fast-growing market.
- Expansion aligns with the company's goal to open seven clinics in major metro areas by year-end 2021, enhancing market presence.
- Dependence on successful expansion could pose risks if the company fails to meet its growth targets.
- Potential challenges in obtaining necessary capital for continued expansion efforts.
MINNEAPOLIS, MN, Oct. 14, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Mitesco, Inc. (OTCQB: MITI) (“Mitesco” or the “Company”), a leading operator of wellness clinics that combine technology and personalized, whole-person primary care, announced it has a fully executed lease for its fifth Twin Cities Good Clinic™ location in the Arbor Lakes development area of the northwestern Minneapolis suburb of Maple Grove, one of the fastest-growing communities in Minnesota. This expansion in the Arbor Lakes development area is a part of The Good Clinic’s goal to open seven clinics in the Denver, Colorado and Minneapolis–Saint Paul, Minnesota metro areas by the end of 2021.
“With our new site in Maple Grove, our presence and momentum in the Minneapolis marketplace continues to grow,” said Larry Diamond, CEO of Mitesco. “Thousands of young professionals, families, and seniors live in rental communities, single family homes, and condominiums within a short distance from our Maple Grove clinic, making this an ideal location for our healthcare services. We expect to open our Arbor Lakes site in early 2022.”
The Arbor Lakes development is a commercial and residential district located in downtown Maple Grove. A 600-acre former sand pit purchased by the city in 1990, Arbor Lakes is centered around a series of lakes and community parks. The concept for this major development is a classic American main street design that encourages pedestrian and business activity, is accessible, and intended to serve people of all ages and abilities.
With over 250 businesses, Arbor Lakes consists of four distinct shopping areas: The Shoppes, The Fountains, The Village, and Main Street. Combined, Arbor Lakes offers one of the largest concentrations of retailers in Minnesota, including one-of-a-kind independent stores, specialty chains, national brands, plus a wide variety of restaurants (casual and fine dining), hotels, and a large selection of personal and professional services including banking, dental, beauty and spa centers.
About Mitesco, Inc. and The Good Clinic, LLC
We intend to be a leader in providing healthcare services and technology, and make healthcare more accessible, and affordable with improved outcomes. Our executive team has extensive experience in growth situations within the healthcare industry, through both organic growth, and by acquisition.
Our operations and subsidiaries include The Good Clinic, LLC and Acelerar Healthcare Holdings Limited. The Good Clinic, LLC ( www.thegoodclinic.com ) is a wholly owned subsidiary of Mitesco N.A. LLC, the holding company for North American operations. The Good Clinic plans to build out a network of clinics using the latest telehealth technology with the nurse practitioner operating as its primary healthcare provider. It began in Minneapolis, recently announced plans to open new sites in the Denver market and plans to expand nationwide longer term. We utilize nurse practitioners as our primary healthcare providers, and today 23 states facilitate nurse practitioners practicing to the full scope of their skills and training. The executive team at The Good Clinic includes several of the key executives who brought Minute Clinic (previously known as Quickmedix) to scale, which was acquired by CVS in 2006.
Acelerar Healthcare Holdings Limited is the Company’s wholly owned, Dublin, Ireland-based entity for its future European operations.
SAFE HARBOR STATEMENT
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than the statement of historical fact contained in this press release are forward-looking statements. In some case, forward-looking statements can be identified by terminology such as "anticipate," "believe," "can," "continue," "could," "estimate, "expect," "intend," "may," "plan," "potential," "predict," "project," "should," or "will" or the negative of these terms or other comparable terminology and include statements regarding plans to open a fourth location in greater Minneapolis and a location in Denver, finding locations for the Good Clinic that are well suited for a focus on total wellness, improved convenience and a personalized healthcare experience and plans to expand The Good Clinic concept of care nationwide. These forward-looking statements are based on expectations and assumptions as of the date of the press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, our ability to expand The Good Clinic concept of care to additional locations as planned, our ability to obtain the capital needed to expand our operations, our ability to deliver on our mission of improving healthcare for patients around the world, and the other factors discussed in Mitesco, Inc.’s Annual Report on Form 10-K for the year ended December 31, 2020, and subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.
Investor Relations Contacts:
Brian M. Prenoveau, CFA or Brooks Hamilton
MZ Group – MZ North America
561-489-5315
MITI@mzgroup.us
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