VANCOUVER, BC, December 2, 2021 /CNW/ - Principal
Technologies Inc. (the "Company") (TSXV: PTEC) is building a
diverse portfolio of investments in global healthcare technology
companies, and is pleased to be announcing its launch and strategic
focus.
"We created Principal Technologies to identify, invest in, and
accelerate the success of healthcare technologies that have
demonstrated regional success, largely in Europe, and that have inherent global
distribution potential," said Jerry
Trent, President and Chief Executive Officer of Principal
Technologies. "In addition to providing our portfolio companies
with growth capital, we plan to actively support each company with
the expertise of our management team, board, and advisers."
The senior executive team includes recognized leaders such as
His Serene Highness Prince Alfred of Liechtenstein, who is serving as Chairman of
the Board, and who has been involved in a broad range of healthcare
initiatives internationally. Also part of the team is John McCoach, former President of the TSX
Venture Exchange; Dr. Leopold
Specht, Economic Council at Harvard Law School; Frank Stronach, a senior finance executive; and
Jerry Trent, internationally
accomplished investment banker and portfolio manager who is serving
as President and CEO of the company.
Principal Technologies is also in the process of adding a highly
seasoned and esteemed medical advisory team in-house. This will
complement the executive team's extensive experience in the
capital markets, which can support portfolio companies with their
own IPO initiatives, ultimately providing the Company with
potentially significant ROI and liquidity.
The Company is focused on identifying technologies with IP
capable of improving patient outcomes by enhancing:
- medical treatment quality and efficiency
- cost-efficiency
- optimization of the patient pathway
- implementation of point of care technologies.
The Company's first investment was highly strategic; it took a
majority stake in E&E CRO Consulting, which is a specialized
clinical research organization (CRO) that supports healthcare
technology companies with the planning and execution of clinical
studies required for obtaining international distribution permits.
E&E, and its predecessor organizations, have been operating in
this space since 1991.
"We have been involved in and led the design of a broad range of
clinical studies that have enabled our clients to successfully
proceed through the international distribution permit process. This
provides us with unique insights into cutting-edge technological
developments and how they may fare as they aim toward international
distribution. With decades of experience, we are able to
strategically evaluate the potential future success of healthcare
technologies in the global market," says Ilse Eder, CEO of E&E CRO Consulting.
The majority ownership interest in E&E provides the
executives of Principal Technologies with industry expertise from
an internal, highly seasoned technical due diligence team, while
also providing continuous deal flow in addition to generating
revenue for the company.
The Company released its consolidated financial statements for
the years ended July 31, 2021 and
2020 (both preceding the Qualifying Transaction). For more
information, please visit SEDAR (www.sedar.com).
About Principal Technologies Inc.
Principal Technologies Inc. (TSXV: PTEC.P), is
building a diverse portfolio of investments in healthcare
technology companies with a focus on those with global distribution
potential, that have achieved regional success. Principal
Technologies will also focus on companies that have IP capable of
enhancing medical treatment quality and efficiency, cost
efficiency, optimization of the patient pathway, and implementation
of point of care technologies. In addition to providing growth
capital, the company also aims to support the growth of its
portfolio with the expertise of its management team, board, and
advisers.
Learn more: https://principal-technologies.com/
Cautionary Note Regarding Forward-Looking Information
This news release contains statements which constitute
"forward-looking statements" and "forward-looking information"
within the meaning of applicable securities laws (collectively,
"forward-looking statements"), including statements
regarding the plans, intentions, beliefs and current expectations
of the Company with respect to future business activities and
operating performance. Forward-looking statements are often
identified by the words "may", "would", "could", "should",
"will", "intend", "plan", "anticipate", "believe",
"estimate", "expect" or similar expressions and includes
information regarding: (a) expectations regarding whether the
Transaction will be consummated including whether the conditions to
the consummation of the Transaction; (b) the timing for
completing the Transaction, if at all, and the conditions to such
transaction; and (c) expectations for other economic,
business, and/or competitive factors.
Investors are cautioned that forward-looking statements are
not based on historical facts but instead reflect the
Company's management's expectations, estimates or projections
concerning future results or events based on the opinions,
assumptions and estimates of management considered reasonable at
the date the statements are made. Although the Company
believes that the expectations reflected in such forward looking
statements are reasonable, such statements involve risks and
uncertainties, and undue reliance should not be placed thereon, as
unknown or unpredictable factors could have material adverse
effects on future results, performance or achievements of the
resulting issuer. Among the key factors that could cause
actual results to differ materially from those projected in
the forward-looking statements are the following: the ability
to consummate the Transaction; the ability to obtain requisite
regulatory and shareholder approvals and the satisfaction of
other conditions to the consummation of the Transaction on the
proposed terms and schedule; the potential impact of the
announcement or consummation of the Transaction on
relationships, including with regulatory bodies, employees,
suppliers, customers and competitors; changes in general
economic, business and political conditions, including changes in
the financial markets; changes in applicable laws and
regulations both locally and in foreign jurisdictions; compliance
with extensive government regulation; the risks and
uncertainties associated with foreign markets; and the diversion of
management time on the Transaction. These forward-looking
statements may be affected by risks and uncertainties in the
business of E&E, the Company and general market conditions,
including COVID-19.
Should one or more of these risks or uncertainties
materialize, or should assumptions underlying the
forward-looking statements prove incorrect, actual results may
vary materially from those described herein as intended,
planned, anticipated, believed, estimated or expected. Although the
Company has attempted to identify important risks, uncertainties
and factors which could cause actual results to differ materially,
there may be others that cause results not to be as anticipated,
estimated or intended and such changes could be material.
E&E and the Company do not intend, and do not assume any
obligation, to update the forward-looking statements except as
otherwise required by applicable law.
Completion of the Transaction is subject to a number of
conditions, including but not limited to
TSXV acceptance. There can be no assurance that the
Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the
filing statement prepared in connection with the Transaction, any
information released or received with respect to the Transaction
may not be accurate or complete and should not be relied upon.
Trading in the securities of the Company should be considered
highly speculative.
Neither TSXV nor its Regulation Services Provider (as that
term is defined in the policies of the TSXV) accepts responsibility
for the adequacy or accuracy of this news
release.
SOURCE Principal Technologies Inc.