OPTEC International, Inc. To Acquire WeShield, An Established AI Driven NY MedTech Company In PPE Space

Rhea-AI Summary

OPTEC International, Inc. (OTC PINK:OPTI) announced the impending acquisition of WeShield, an AI-driven MedTech company, aiming to enhance its position in the PPE sector. WeShield achieved over $55 million in audited revenues for 2020 and projects over $100 million in 2021. This acquisition, expected to close within 45 days, is anticipated to create synergies, increase market strength, and bolster shareholder value. OPTEC's management emphasizes the strategic importance of this deal, which will bolster OPTEC's offerings in the competitive PPE market.

Positive

• Acquisition of WeShield expected to add over $100 million in projected sales.
• WeShield reported over $55 million in audited revenues for 2020.
• The acquisition will enhance OPTEC's market strength and shareholder value.

Negative

• None.

CARLSBAD, CA / ACCESSWIRE / March 31, 2021 / OPTEC International, Inc. (OTC PINK:OPTI), a developer of UV and UV-C safety products using related advanced technologies specific to Personal Protection Equipment (PPE), and supplier of wholesale Medical PPE today released the following corporate update.

The company today announced the execution of term sheets for 100% acquisition of WeShield who recently received the following award (https://www.analyticsinsight.net/company-of-the-month-weshield-embracing-ai-to-streamline-high-quality-ppe-and-safety-supplies/)

WeShield is an established New York based AI (Artificial Intelligence) Driven MedTech company in the PPE space with 2020 audited revenues in excess of $55M. The acquisition is scheduled to close within 45 days of the signed term sheets.

WeShield is extremely well established in the Wholesale Medical sector supplying PPE safety products to: GAP, Caesars Entertainment, Hard Rock, Defense Logistics Agency (DLA), NYC Housing Authority (NYCHA), WellStar Health System and more.

This AI driven MedTech company is on track for substantial growth and projecting revenues of over $100M for 2021. The company has a very strong, well-structured management team and uses advanced marketing technology to fuel both the company's operations and continual growth.

OPTEC management is confident the acquisition will generate additional market strength, profits and shareholder value for OPTEC while simultaneously adding additional strength to OPTEC's management team.

OPTEC CEO, Roger Pawson, commented "We are extremely excited to announce the pending acquisition of WeShield which will add a large AI driven sales and marketing platform to OPTEC in addition to over $100 million in projected sales."

WeShield President Michael Sinensky commented, "We could not be more excited to join the OPTEC family. We are looking forward to showcasing their full suite of products to our healthcare institutions, government agencies, Fortune 500 companies and businesses throughout the retail and hospitality verticals to fight this invisible enemy and safely reopen the global economy. https://weshield.us/

Details of the financial terms to be released upon execution of the definitive agreement.

About OPTEC International, Inc.

With Locations in Carlsbad and Vista, California, OPTEC International is a developer and manufacturer of electronic LED, Ultraviolet (UV) & UV-C safety products and related advanced technologies and PPE (Personal Protection Equipment) products. The company's Safe-Scan product line is being launched at a time when HR directors and facilities managers are experiencing extreme concern with respect to keeping environments safe during the global pandemic crisis and the safe reopening of the U.S. economy. For more information, visit: www.optecintl.com

Safe Harbor Statement: Safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as Opti, OPTEC or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions, or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. OPTEC International Inc.

OPTEC International, Inc.

Investor Relations Contact:
Andrew Barwicki
516-662-9461 / Andrew@barwicki.com

SOURCE: Optec International, Inc.

View source version on accesswire.com:
https://www.accesswire.com/638385/OPTEC-International-Inc-To-Acquire-WeShield-An-Established-AI-Driven-NY-MedTech-Company-In-PPE-Space

FAQ

What is the significance of OPTEC's acquisition of WeShield?

The acquisition aims to strengthen OPTEC's position in the PPE market and potentially increase projected sales by over $100 million.

What are WeShield's revenues and future projections?

WeShield reported audited revenues exceeding $55 million for 2020 and is projecting revenues of over $100 million for 2021.

When is the OPTEC-WeShield acquisition expected to close?

The acquisition is scheduled to close within 45 days of executing the term sheets.

How does OPTEC plan to benefit from the WeShield acquisition?

OPTEC anticipates increased market strength, profits, and enhanced shareholder value through the strategic acquisition.