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Emergent Closing in on Acquisition of Regen Biowellness Regens Bankruptcy Motion to Dismiss Approved Former L'Oréal President Jim Morrison Set to Join Emergents Board of Directors
Emergent Closing in on Acquisition of Regen Biowellness Regens Bankruptcy Motion to Dismiss Approved Former L'Oréal President Jim Morrison Set to Join Emergents Board of Directors.
About this update from Emergent Health Corp.
[{"type":"text","content":"HAUPPAUGE, NY / ACCESSWIRE / July 21, 2022 / Emergent Health Corp. ("Emergent") (OTC PINK:EMGE) announces it is closing in on the acquisition of Regen Biowellness, Inc. ("Regen"), a distributor of various products in the plant-based and regenerative medical fields. The acquisition was subject to Regen having resolved and finalized a settlement with respect to all its litigation. Regen is now ready to advance its business model and pursue its acquisition by Emergent. On July 19, 2022, Regen's Bankruptcy Motion to Dismiss was approved by the US Bankruptcy Court in New Jersey. The Acquisition is expected to close on or about August 1st, 2022.Jim Morrison, President and CEO of Regen has agreed to join Emergents Board of Directors upon the acquisition of Regen and additionally become the full-time CEO of Emergent upon the acquisition of Evolutionary Biologics. Emergent recently executed a letter of intent to acquire Evolutionary Biologics. The acquisition is expected to close within the next three weeks.Mr. Morrison is a legend in the personal care industry, most notably as President of L'Oréal. While at L'Oréal, Morrison oversaw growth that averaged more than 20% year-over-year. He engineered the acquisitions of Redken and Matrix and led the company during a period of unprecedented growth during his tenure. He is considered one of the top brand strategists in the personal care space. Morrison has had a long history of working with celebrities in the beauty space.Business Week Magazine previously wrote, "Over the last two decades, Mr. Morrison has had a profound impact on the American Beauty Industry. In the industry's history no other executive has had the level of financial responsibility or breadth of organizational experience as Jim. His devotion to, and success within the American Beauty Industry is unmatched."Regen Biowellness products include:Product with Issued PatentsImmuniain TM (Immune Booster) - Irreversibly-inactivated pepsinogen fragments for modulating immune function (Immune Booster- FDA Cleared) ImmunaZin contains an FDA approved New Dietary Ingredient (NDI), and the NDI # is 1140 Patent No. US 8,309,072; Patent Issued: November 13, 2012Pending Patent ApplicationsVeterinary Cannabinoid and Menthol Compositions and Methods Application No. 16/419,392; International Application PC...