ATLANTA, GA--(Marketwired - Aug 9, 2016) - True Nature Holding, Inc. (OTCQB: TNTY) (the "Company") announces an update on its acquisition program.
"Over the past month we have, through our ongoing outreach and evaluation, identified several highly attractive new acquisition candidates, each of which provides added momentum toward our goal of creating a national platform of compounding pharmacies," said Jim Driscoll, the CEO of True Nature Holding, Inc. "Consequently, we are planning to pursue three acquisitions where we have signed letters of intent. Assuming the successful completion of these deals, when combined, these will give us coverage in over 40 states, as well as expand our portfolio with quality products that can be distributed across our network," Mr. Driscoll continued.
"In addition to expanding our network of pharmacies, these acquisitions also create an opportunity to selectively add industry veterans who will help us maintain and enhance our focus on safety, quality and customer service," said Mr. Driscoll. "Further, we are excited that we have identified potential partners with a similar entrepreneurial spirit as our leadership team."
The Company will seek to close these transactions between Q3 and Q4 2016.
The Company explained its initial product focus as:
- Nearly all physicians find times when they are too limited by commercially available drugs. We make custom compounds to help fill in the gaps of big pharma for these patients.
- Many drugs that anti-aging doctors use are not commercially available, contain unwanted dyes, preservatives and fillers, and/or are not available in suitable dosage forms and strengths.
- We focus on pediatrics, sports medicine, physical therapy, orthopedics, family practice, gynecology, urology, dermatology, geriatrics and many other disciplines.
CONCLUSION and FOCUS for Q3
Management is focused on further expansion through acquisitions in Q3 and Q4 2016. The Company expects to exit 2016 with run rate revenue estimated in excess of $10MM. Management's objective is to identify and acquire a minimum of two additional acquisitions in 2016 and continue to build the pipeline of quality acquisition candidates, positioning the Company for continued growth in 2017.
About True Nature Holding, Inc.: True Nature Holdings plans to acquire a number of compounding pharmacies, which create customized formulations for patients, around the US and from that network seek distribution to a larger market and the benefits of economies of scale and market consolidation. We are targeting the acquisition of pharmacies that serve the human, and in some instances, pet markets. True Nature plans to first consolidate a leadership position in the Southeastern US though is evaluating acquisitions around the US on an opportunistic basis.
Statement Under the Private Securities Litigation Reform Act
As contemplated by the provisions of the Safe Harbor section of the Private Securities Litigation Reform Act of 1995, this news release contains forward-looking statements pertaining to future, anticipated, or projected plans, performances and developments, as well as other statements relating to future operations. All such forward-looking statements are necessarily only estimates or predictions of future results or events and there can be no assurance that actual results or events will not materially differ from expectations. Further information on potential factors that could affect True Nature Holding, Inc. is included in the Company's filings with the Securities and Exchange Commission. We expressly disclaim any intent or obligation to update any forward-looking statements.
To learn more about the Company, go to www.truenaturepharma.com.