Business
Endonovo Therapeutics Details Plan to Spin Off Medical Device Division as a Listed Public Company
Endonovo Therapeutics Details Plan to Spin Off Medical Device Division as a Listed Public Company.
About this update from Endonovo Therapeutics, Inc.
[{"type":"text","content":"\n Los Angeles, CA, Jan. 09, 2023 (GLOBE NEWSWIRE) -- Endonovo Therapeutics Inc. (OTCQB: ENDV) today announced details for its plan to spin off its current medical device division, known as NewCo, as a separate publicly-traded company. Endonovo’s other current division focuses on mergers and acquisitions (M&A) in the specialty construction sector and will seek to be uplisted to a national exchange. Spin-Off Produces Two Publicly-Traded Companies NewCo (the medical device division) will be run by Ira Weisberg and will focus on advancement of medical device sales while preparing to spin off as a national exchange listed company. Endonovo’s existing M&A division will be run by Alan Collier and will focus on M&A strategy of purchasing profitable companies in the specialty construction sector with a goal of uplisting in the future. NewCo Moving Forward Ira Weisberg, President and Chief Commercial Officer of Endonovo's current medical division, stated: “NewCo featuring SofPulse® is going to continue moving forward with programs to capitalize on our portfolio of commercial and clinical-stage wearable therapeutic devices and IP. We will continue to aggressively build contracts with the Department of Defense, the VA and other domestic and international surgical and pain management markets. As a newly formed public company, we will have a new board of directors, new sales and marketing teams and a determined focus to bring PEMF technology to the global pain management market.” Endonovo’s Future Endonovo's current mergers and acquisitions division, run by CEO Alan Collier and Head of Corporate Development Garry Michael Kann, will focus on acquiring specialty service providers in the construction industry. The division has more than 50 years of experience in acquiring and running such companies and aims to provide a steady stream of revenue through its \"Build Up Strategy.\" The division has recently entered into a letter of intent to purchase a highly profitable commercial construction company and is working to secure financing for additional acquisitions in the specialty construction sector. Recent Development The M&A division has entered into a new letter of intent to purchase an additional highly profitable construction company. The target company is a market-leading specialty trade con...