Phoenix Rising Companies Announces Definitive MOU To Acquire High Tech Medical Products Distribution Company

Rhea-AI Summary

Phoenix Rising Companies (OTCQB:PRCX) has finalized a MOU to acquire Emvera Technologies, a distributor of aesthetic medical devices, including lasers and energy-based systems. Founded in 2012, Emvera operates in a rapidly expanding market projected to grow at a CAGR of 15.2% through 2030. The acquisition will involve the issuance of approximately 46 million common restricted shares and aims to enhance Phoenix's market position. Emvera's sales are rebounding post-pandemic, bolstered by pending strategic alliances. Further details on the formal acquisition agreement are expected within 90 days.

Positive

• Acquisition of Emvera enhances Phoenix's positioning in the booming aesthetic medical device market valued at $53.8 billion in 2021.
• Projected market growth of 15.2% annually through 2030 presents revenue opportunities.
• Emvera's profitable operations and returning sales support future growth potential.

Negative

• Emvera's business was negatively impacted by the pandemic for the past two years.
• The need for financing to support Emvera's operations after the acquisition may strain resources.

PARK CITY, UT / ACCESSWIRE / February 28, 2022 / Phoenix Rising Companies (OTCQB:PRCX):

DS Chang, CEO and Chairman of the company is pleased to announce the completion of a definitive MOU to acquire 100% ownership of Emvera Technologies, LLC, based in the greater Atlanta area.

Founded in 2012, Emvera is focused on distributing various lines of aesthetic medical devices, including state-of- the-art lasers and energy-based systems.

The market for aesthetic or "vanity" treatments is growing steadily year over year. According to Grandview Research, the US market size in 2021 was $53.8 Billion USD, with a predicted compound annual growth rate of 15.2% annually through at least 2030.

Emvera's customers include doctors, medical professionals and aesthetic practitioners who

acquire the devices for use in a variety of treatments such as skin resurfacing, skin renewal and hair removal.

Emvera offers attractive financing options for their customers, with industry-leading transferable warranties, trade-in programs and reasonably priced consumables.

Following years of profitable operations, the worldwide pandemic had a negative impact on Emvera's business for the prior two years. However, this has also created opportunities for Emvera, including pending strategic alliances which it has been pursing during the last six months. In addition, sales and activity in the industry are starting to return to pre-pandemic levels.

Emvera's CEO is Eric Fuller, a long-time advisor to Phoenix and its Vice President of U.S. sales, with over 20 years of experience, and well known for his integrity and expertise.

The MOU calls for a host of additional steps, including the issuance of about 46 million common restricted shares of Phoenix and creation of financing for Emvera operations

pursuant to a formal acquisition agreement in the next 90 days.

In addition to this MOU, Phoenix continues to press forward with R&D projects and additional acquisitions, with an eye towards developing Western hemisphere subsidiaries and divisions which hold the promise growth, sustainability and profitability.

Interested parties can learn more about Emvera by visiting www.emvera.com

Additional information will be announced as it becomes available.

For information on Phoenix Rising Companies visit www.phoenix-cos.com

contact ir@phoenix-cos.com

CAUTIONARY STATEMENT

This press release contains forward-looking statements. Known and unknown risks may cause actual future results to vary widely. The statements are based upon Management's and Advisor's current expectations, estimates and projections; are not guarantees of future performance and are subject to certain risks and uncertainties and other factors, some of which are beyond Management's control and are difficult to predict. A reader of this press release should not place undue reliance on forward-looking statements. Investors should understand investing in shares of RSSV involves a high degree of risk and should seek competent investment advice prior to purchasing shares.

SOURCE: Phoenix Rising Companies

View source version on accesswire.com:
https://www.accesswire.com/690597/Phoenix-Rising-Companies-Announces-Definitive-MOU-To-Acquire-High-Tech-Medical-Products-Distribution-Company

FAQ

What is the purpose of Phoenix Rising's acquisition of Emvera Technologies?

The acquisition aims to enhance Phoenix Rising's market presence in the aesthetic medical device sector, tapping into a growing industry.

How many shares will be issued for the acquisition of Emvera Technologies?

Approximately 46 million common restricted shares will be issued as part of the acquisition.

What is the expected impact of Emvera on Phoenix Rising's business?

Emvera's operations are expected to drive growth and profitability for Phoenix Rising, especially as the aesthetic treatment market expands.

What challenges did Emvera face before the acquisition by Phoenix Rising?

Emvera experienced a decline in business due to the pandemic but is now seeing a recovery in sales and activity.

What are the next steps following the MOU for the acquisition of Emvera?

A formal acquisition agreement is expected within the next 90 days, alongside further financing arrangements for Emvera's operations.