Optec Negotiating Acquisition of Established NY Medtech Company in PPE Space
OPTEC International, Inc. (OTC PINK:OPTI) announced it is negotiating a full acquisition of a New York-based AI-driven MedTech company in the PPE sector with 2020 revenues exceeding $55M. The target company has strong partnerships, supplying PPE to notable entities like GAP and Caesars Entertainment, and projects revenues of over $100M for 2021. OPTEC aims to enhance its market presence and shareholder value through this acquisition. CEO Roger Pawson noted that the company's name will be disclosed upon signing a Letter of Intent (LOI).
- Negotiating acquisition of a profitable MedTech company with over $55M in 2020 revenues.
- Target company projects revenues exceeding $100M for 2021, indicating substantial growth potential.
- Acquisition expected to enhance market strength and shareholder value.
- None.
CARLSBAD, CA / ACCESSWIRE / March 11, 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 is negotiating the
The MedTech company (name not yet disclosed due to NCNDA) 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
The OPTEC Team is confident that the potential 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 "Included in the initial negotiations between the companies, the MedTech company management agreed that upon execution of the LOI, OPTEC would be able to disclose the company's name in the public announcement."
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.
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FAQ
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