SANDUSKY, OH--(Marketwired - Oct 25, 2016) - PAO Group, Inc. (formerly known as New Wave Holdings, Inc.) (OTC: NWAV) recently announced as well as unveiled photos on social media of the company's first alternative medicine clinic being built out in Northwest Ohio.
The company is presently focusing attention towards 2017 growth expansion initiatives that will enable the company to open a projected ten (10) clinics within the Ohio market during 2017. CEO Robert Weber stated, "Our management team is working diligently to be able to deliver on our goals and we are confident that we can continue to open additional locations throughout Ohio."
"Significant opportunity exists beyond this we believe," said Weber. "To reiterate, our 2017 clinic opening estimates do not contemplate or include the potential to expand into additional existing states that are friendly to alternative medical clinics nor does it include states that have initiatives pending on upcoming ballots that could positively expand our growth potential."
The company believes that demand for services in new markets such as Ohio will experience high growth and increased demand based upon historical data from states that have a more mature marketplace. In mature marketplaces, most clinics are open six (6) days per week and have 300+/- patient visits per week on average. A typical clinic has at least a week to 10 day waiting list and the average clinic charges $200 per visit. As an industry generalization, individual clinic locations can generate revenues of $2.5mm+ per year.
Weber concluded by stating, "We believe these industry revenue projections are conservative and very achievable. We are very optimistic about the future and look forward to providing regular, ongoing company updates."
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Forward-Looking Statements Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.