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Alternate Health Corp Targets CBD Industry With US$20 Million Blaine Labs Acquisition
Alternate Health Corp Targets CBD Industry With US$20 Million Blaine Labs Acquisition.
About this update from Alternate Health Corp
[{"type":"text","content":"\n\n\n\nAlternate Health Corp Targets CBD Industry With US$20 Million Blaine Labs Acquisition\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nAlternate Health Corp Targets CBD Industry With US$20 Million Blaine Labs Acquisition\nCanada NewsWire\nTORONTO, May 2, 2019\n\n\n\nTORONTO, May 2, 2019 /CNW/ - Alternate Health Corp., (\"Alternate Health\" or the \"Company\") (CSE:AHG) (OTCQB:AHGIF), an international leader in technology solutions for the regulated cannabis industry, announced today that the Company is entering the CBD-infused product market following an agreement to acquire Blaine Labs Inc., a leading manufacturer and distributor of FDA-approved and cGMP-certified dermatological products, with over 50 SKUs currently available in major retailers, including Walmart, Amazon, CVS and Walgreens. \n\n \n \n\n \n\"We are thrilled to announce our agreement with Dr. Blaine and Blaine Labs, a transaction we view as a true company-maker for Alternate Health and the Company's future in CBD product manufacturing and distribution,\" says Howard Mann, CEO of Alternate Health. \"Building on Blaine Labs leading portfolio of products, we intend to transform Blaine Labs into an international CBD leader, starting with expansion throughout our own extensive physician networks.\"\nBased in Southern California, Blaine Labs has 23 years of operating history, producing and marketing medical grade products including treatments for psoriasis, scar-tissue, fungus and pain management. With audited financial statements indicating revenues in excess of US$14 million in 2018, and a net income of approximately US$8 million with no debt, management expects to open new revenue streams with a proprietary line of CBD-infused products, manufactured using existing equipment and distributed through the Company's extensive database of physicians, clinics and patients already using Alternate Health's software.\n\"Blaine Labs has built a leadership position in medical product manufacturing and distribution,\" says Dr. Robert Blaine, founder of Blaine Labs. \"Today, we start a new chapter as we look to ent...