OPTEC International, Inc. Completes $70M Acquisition of WeShield, An Established AI Driven NY MedTech Company In the Medical...
OPTEC International, Inc. Completes
$70M Acquisition of WeShield, An Established AI Driven NY MedTech
Company In the Medical Supply & PPE Space
CARLSBAD, CA -- June 8, 2021 -- InvestorsHub NewsWire
-- 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 the 100%
acquisition of WeShield for $70 million in a combination of cash
and preferred shares.
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/),
is an established New York based AI (Artificial Intelligence)
Driven MedTech company in the PPE space with 2020 audited revenues
in excess of $55M.
WeShield is extremely well engrained in the Wholesale Medical
sector supplying PPE safety products to: GAP, Caesars
Entertainment, Hard Rock, Defense Logistics Agency (DLA), NYC
Housing Authority (NYCHA), Concordance, Henry Schein, Medline, and
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
Further explanation of the terms of the deal as well as upcoming
procedures and business operations between both companies in
regards to the acquisition, will take place on a shareholder Zoom
call, scheduled for viewing on Thursday, June 10th, 1:15pm
PST. The call will be pre-recorded a day earlier. The call
will include Optec CEO, Roger Pawson and WeShield executives; CEO
Michael Sinensky, President Erika London, COO Amy Bove, and CFO
The registration and dial-in information for the Zoom call will
be posted on both companies' websites by today's end.
OPTEC CEO, Roger Pawson, commented 'The acquisition of WeShield
is complete. By adding an established AI driven sales and marketing
platform to OPTEC, we are confident we will immediately reap the
rewards from adding WeShield's team and tech to market and sell
OPTEC products. In addition to these synergies, we expect to add
over $100 million in 2021 projected sales from WeShield.'
WeShield President Michael Sinensky commented, We're
joining OPTEC today! Our team is ready to showcase their full suite
of products to our client base of healthcare institutions,
government agencies, Fortune 500 companies and businesses
throughout the retail and hospitality verticals. Our original plan
to move further into the health care space, including mobile
testing and vaccinations, medical and non-medical staffing,
partnerships with labs and urgent care facilities, and telemedicine
will happen much faster than expected now under the OPTEC umbrella.
The core WeShield team is all staying on board to see this
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.
Investor Relations Contact:
760 621-0062 / Mike@MountaintopMedia.net
Michael Sinensky, WeShield
646.533.2360 | Michael@weshield.us
SOURCE: OPTEC International, Inc.
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