Veltex Corporation Begins Collaboration With The State Of West Virginia
Veltex Corporation (VLXC) has announced a Collaboration Agreement with the State of West Virginia's Department of Health and Human Resources to combat substance abuse disorders. This partnership allows Veltex to offer expert guidance and support to local organizations. Veltex has invested $5.8 million in a rehabilitation complex in Mount Hope, West Virginia, which will accommodate 150 patients and create around 50 jobs. The facility aims to provide comprehensive addiction treatment services and is expected to open in early summer 2021. Veltex is exploring further opportunities in the region.
- Veltex has entered a Collaboration Agreement with West Virginia to address substance abuse disorders.
- A $5.8 million investment in a rehabilitation complex in Mount Hope will create 50 jobs.
- The Mount Hope facility will have a capacity of 150 patients, making it a significant resource in the state.
- None.
CHICAGO, March 8, 2021 /PRNewswire/ -- Veltex Corporation-- OTC Markets symbol (VLXC) Veltex Corporation ("Veltex") is pleased and proud to announce an in-depth Collaboration Agreement, effective immediately, with the State of West Virginia ("the State"), Department of Health and Human Resources. This Collaboration, in part, is to provide expert-level guidance and consultation surrounding the substance abuse disorder epidemic to those organizations to be referred to Veltex by the State. Through this collaboration, Veltex will provide evidence-based expertise to public and private partners to address a variety of management and quality-of-care challenges. Veltex brings a team of experts who understand how recovery-focused organizations can make the biggest impact with their clients. Veltex will use their vast business experience, combined with some of the best addiction specialists in the country, to bring new approaches and modalities to solving the addiction crisis as well as create financially sustainable treatment locations throughout the state of West Virginia.
Veltex has already made a significant investment in West Virginia. The corporation purchased a 30,000 square foot rehabilitation complex situated on 5 acres of land in Mount Hope, West Virginia without lien. This
Veltex's President and Chief Executive Officer Andreas Mauritzson commented, "Veltex is very excited to for this partnership opportunity with the State of West Virginia. This will bring our unique approach to recovery for those who so deserve the dignity and success of recovery. In addition to our direct collaboration with the State, Veltex is opening our first rehabilitation facility in West Virginia. Additionally, Veltex is currently discussions with several other organization and locations in West Virginia. Those properties under review are currently operational and licensed treatment rehabilitation centers. Veltex looks forward to the motivating ways it will provide addiction and wellness services. These services will also benefit both the State and our loyal shareholders. Our next steps fit perfectly into our comprehensive expansion plan for the company."
Dr. Harry L. Haroutunian, MD., a member of the Veltex Board of Directors and serves as the senior medical advisor to Veltex stated, "I am motivated to have the opportunity to help West Virginians' suffering from the disease of addiction find their path to recovery. Having helped many people over the last several decades, I believe that the approach to treatment, normally reserved for the very wealthy, should be available to all people. I'm more than pleased to be able to use my experience to work with the many dedicated West Virginia private organizations and government officials striving diligently every day to help those suffering from substance use disorder. Our collaboration with the State is a major step in that direction."
Dr. Haroutunian is formerly the Chief Medical Officer for the world-famous Betty Ford Center in Rancho Mirage, California where he served for more than thirteen years. He is board-certified in both addiction and family medicine and utilizes cutting edge strategies to treat his patients with an exceptional success rate. Dr. Haroutunian has helped individuals and families suffering from substance use disorder for nearly 40 years as a provider, author, lecturer, sponsor, and friend. He is an internationally known speaker and authority on addiction and recovery, with feature stories in the New York Times, Cosmopolitan, Huffington Post and appeared on the Dr. Oz Show, Dr. Drew on Call and The Dr. Phil Show. He is also the best-selling author of "Not as Prescribed: Recognizing and Facing Alcohol and Drug Misuse in Older Adults" (Hazelden Publishing, 2016) and "Being Sober: Getting to, Getting through, and Living in Recovery" (Rodale, 2013).
Veltex Corporation, incorporated in Utah September 17, 1987, is a public holding corporation, which maintains its corporate headquarters in Chicago, Illinois. The company's common shares trade OTC Markets under the symbol VLXC.
Safe Harbor Statement
Forward Looking Statement
Safe Harbor Statement: Certain of the above statements contained in this press release are forward-looking statements that involve a number of risks and uncertainties. Such forward looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those indicated in the forward-looking statements as a result of various factors. This press release includes forward-looking statements intended to qualify for the 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 Veltex or its management "believes," "expects," "anticipates," "foresees," "seeks," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe Veltex'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. Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company, Veltex, as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.
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