Optec International's GPO, WeShield Together, Officially Launches With $2 Million in Sales in First Two Weeks From 32 Vendors

Rhea-AI Summary

OPTEC International, Inc. (OTC PINK:OPTI) has launched a new group purchasing division, WeShield Together, through its subsidiary WeShield. In its initial two weeks, the division generated over $2 million in sales from PPE and medical supplies, driven by increased demand due to the Delta variant. With partnerships from 32 commodity sales organizations, WeShield aims to streamline costs as supply chains face ongoing pressures. The company anticipates further expansion into other commodities, enhancing operational efficiency during the pandemic.

Positive

• Generated over $2 million in sales from PPE and medical supplies in the first two weeks.
• Establishing partnerships with 32 commodity sales organizations to enhance purchasing power.
• Ranked 53rd fastest growing company by Inc.5000, indicating strong market position.

Negative

• None.

NEW YORK, NY / ACCESSWIRE / August 30, 2021 / OPTEC International, Inc. (OTC PINK:OPTI)

Today the company announced the official launch of a new group purchasing division via their newly acquired, wholly owned subsidiary, WeShield, called "WeShield Together." Since starting at the beginning of August, the group has transacted with 32 outside commodity based sales organizations and brokers who have retained WeShield as their purchasing wing to help drive down rising costs on globally stressed goods from overwhelmed supply chains in the wake of the global pandemic. The group expects to grow into other commodities in the near future.

The first two weeks of its launch netted over $2 million in sales via PPE & medical supplies. The Delta Variant's surge is driving the higher than expected sales. Optec is eyeing the Lambda and Omega variants and securing additional supply partners to keep up with the increased demand.

WeShield CEO Michael Sinensky commented, "WeShield continues to successfully establish itself as a leader in the PPE and medical supply space. After being named the 53rd fastest growing company in the nation by Inc.5000, we have seen an increase in inquiries from commodity based sales companies and brokers to join 'WeShield Together' to help protect their purchases in light of rising fraud due to the Delta variant surge. In addition, we are collectively all saving money with our combined purchasing power, which will go straight to the bottom line."

About OPTEC International, Inc.
With Locations in Carlsbad and Vista, California, OPTEC International is a developer and manufacturer of the OPTEC Fuel Maximizer products along with electronic LED, Ultraviolet (UV) & UV-C safety products and related advanced technologies and PPE (Personal Protection Equipment) products. The company's Temperature Scanning 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

About WeShield
WeShield, a wholly owned subsidiary of OPTEC International, Inc. (OTC PINK:OPTI), provides personal protective equipment (PPE) and safety supplies to hospitals, retail and hospitality brands, government agencies and other businesses and organizations. The company is powered by a proprietary AI-driven sales and marketing process, and has quickly established itself as one of the leading medtech suppliers in the industry. In Q1/Q2 of 2021, WeShield posted total revenues of $40 million with EBIDTA of $6.7 million, or 17% of revenue, and has been ranked 53rd of 5000 on the annual Inc. 5000 list. WeShield reports heavy growth in both the PPE and medical supply sectors, supplying PPE safety products to some of the largest government agencies (DLA, VA, NYCHA), hospitals and healthcare networks (Wellstar, Mt.Sinai, Planned Parenthood) retail and hospitality brands (GAP, Gucci, Hard Rock, Caesars Entertainment, and more in the U.S. For more information visit https://weshield.us/

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.

CONTACT:
Steph Rosenblum Hadas
weshield@5wpr.com
(212) 999-5585

SOURCE: Optec International, Inc.

View source version on accesswire.com:
https://www.accesswire.com/661908/Optec-Internationals-GPO-WeShield-Together-Officially-Launches-With-2-Million-in-Sales-in-First-Two-Weeks-From-32-Vendors

FAQ

What is the purpose of WeShield Together launched by OPTEC International?

WeShield Together aims to reduce costs for its members by leveraging collective purchasing power for PPE and medical supplies.

How much sales did WeShield Together achieve in its first two weeks?

WeShield Together achieved over $2 million in sales within the first two weeks of its launch.

What market conditions influenced OPTEC's sales growth for WeShield?

The surge in demand due to the Delta variant and ongoing supply chain challenges influenced the sales growth.

What is the stock symbol for OPTEC International?

The stock symbol for OPTEC International is OPTI.