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True Nature Holding, Inc. Completes First Compounding Pharmacy Acquisition, Plans More Acquisitions
True Nature Holding, Inc. Completes First Compounding Pharmacy Acquisition, Plans More Acquisitions.
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[{"type":"text","content":"\n \n \n True Nature Holding, Inc. Completes First Compounding Pharmacy Acquisition, Plans More Acquisitions\n \n \nTrue Nature Holding, Inc. Completes First Compounding Pharmacy Acquisition, Plans More Acquisitions\n \n ATLANTA, GA--(Marketwired - May 9, 2016) - True Nature Holding, Inc. (OTCQB: TNTY) (\"the Company\") announced today that, subject to approval by the Georgia Board of Pharmacy, it has completed its previously disclosed acquisition of P3 Compounding Pharmacy of Georgia, LLC, which trades as Integrity Compounding Pharmacy. \n Integrity Compounding Pharmacy is based in Atlanta and is a young fast growing operation primarily serving customers in Georgia.\n Casey Gaetano, its Founder and CEO, has joined the management team at True Nature as Vice President of Corporate Development. Further, the Company announced that it intends to make other acquisitions in Georgia, which are complementary to this initial acquisition.\n \"Subject to approval by the Georgia Board of Pharmacy, we will have our first acquisition behind us which we expect to be accretive and are looking to complement it with other opportunities,\" said Stephen Keaveney, CEO of the Company. \"We now have the chance to collaborate with the talented and successful management of Integrity Compounding Pharmacy. We expect them to help lead us toward larger market share in the local Atlanta market. We plan to consolidate operations in the Southeast and then expand nationally.\"\n \"I see the future as exciting and positive with the financial capability of True Nature as a catalyst for growth and innovation in the compounding pharmacy industry. My team is ready to fulfill our ambitions to serve the market today and in the future with cost effective alternatives to 'big pharma' that allow doctors to provide the quality of care to which they desire,\" said Casey Gaetano, the majority owner of Integrity.\n The total consideration for the transaction is approximately $1,000,000. The transaction includes the acquisition of certain special formulations as \"Intellectual Properties.\" It also includes an employment contract for Mr. Gaetano for three (3) years, including a salary of $125,000 per year and 125,000 of restricted stock. The specifics of the transaction can be found in the Form 8k filed on May 6, 2016 at the SEC Edgar web site: http://www.sec.gov/edgar/s...