Neutra Executes LOI to Acquire Private Clinical Research Site Management Organization
Neutra Corporation (OTC PINK:NTRR) announced a binding letter of intent to acquire Mercury Clinical Research, a site management organization specializing in clinical trials for major pharmaceutical firms. The acquisition aims to bolster Neutra's presence in health, wellness, and life sciences, with a closing anticipated in Q3 2023. The transaction will be funded through a mix of cash and equity, enhancing financial flexibility. Mercury has shown significant growth, achieving 2022 revenues between $3-$6 million with positive EBITDA. This strategic move is expected to create new revenue channels and strengthen Neutra's brand.
- Acquisition of Mercury Clinical Research expected to enhance market position.
- Mercury has shown over 20% year-over-year growth for the last six years.
- Expected revenue growth with Mercury's 2022 revenues of $3-$6 million.
- Completion is subject to various regulatory and due diligence conditions.
- No assurance that the definitive agreement will be finalized.
KATY, TX, Jan. 30, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Neutra Corporation (OTC PINK:NTRR), an emerging health and wellness research and development company, today announced the execution of a binding letter of intent to acquire Mercury Clinical Research, a privately-owned site management organization (SMO) comprised of a network of physicians conducting clinical trials for top-tier pharmaceutical companies. This acquisition will accelerate the Company’s development in the health and wellness and life sciences sector as well as be being accretive for its shareholders.
- The parties intend to enter into a binding agreement within the next 90 days, with the closing anticipated in the third quarter of 2023. Neutra expects to fund the acquisition with a combination of cash and equity to provide the Company with the optimum financial flexibility in the future. Completion of the transaction is subject to customary conditions, including but not limited to the following key conditions:
- Execution of the Definitive Agreement;
- Completion of mutually satisfactory due diligence; and
- Receipt of all required regulatory, corporate and third party approvals.
"We are very excited to take the first steps towards the addition of Mercury to the Neutra family,” said Sydney Jim, Neutra Chief Executive Officer. “Neutra believes there is a significant opportunity to increase the brand’s direct-to-consumer channel and create new revenue channels to strengthen our market position. Our mission is help improve health, and the Mercury leadership is in alignment with our vision for the marketplace."
Mercury, under its current management, has grown over twenty percent year over year in the last six years, with a 2022 gross revenue of between
"Our two leadership teams have been in discussions about the possible acquisition for some time, and believe this acquisition is representative of our vision and strategy to grow our brand portfolio, revenue and cash flow, " said Oscar Buhay, Mercury Clinical Research Chief Executive Officer. “I believe we have great synergies between us that will make great strides in helping people.”
SMOs are rapidly becoming a bigger part of the pharmaceutical business as pharma companies have found them to be an increasingly valuable resource. SMOs were a
Medications like SARS-CoV-2 vaccines and treatments, flu vaccines, testing devices, Alzheimer's treatments, etc., have been through trials aided by an SMO like the one Neutra intends to acquire, in order to become FDA approved before release to the public. In addition, SMOs also work with hospitals and private practices to provide alternative treatments available to help advance medicine.
About Neutra Corp.
Neutra Corp. (OTC PINK:NTRR) is an early-stage health and wellness research and development company that provides alternatives to a healthier life. Two of Neutra’s companies are in the nutraceutical sub-markets is the new thriving hemp-based CBD market. For more information, visit the Company's website at http://www.NeutraInc.com.
About Mercury
Mercury Clinical Research, Inc. (MCR) is an experienced site management organization comprised of a network of physicians conducting clinical trials in and around the greater Houston Area. MCR manages all aspects of the research program from marketing, regulatory, and safety reporting to coordination, patient scheduling, and query resolution. MCR has specific Budgeting, Regulatory, Data Management, Business Development, and Recruitment departments to ensure equal focus is given to every program need. For more information, visit the Company’s website at https://www.mercurycr.us.com.
NOTICE REGARDING FORWARD-LOOKING STATEMENTS
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words 'believes,' 'expects,' 'anticipate' or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of the company to differ materially from those expressed or implied by such forward-looking statements.
Sydney Jim
888-433-4033
info@neutrainc.com
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