Business
True Nature Holding Notes Progress on New Subsidiary
True Nature Holding Notes Progress on New Subsidiary.
About this update from Mitesco, Inc.
[{"type":"text","content":"\n \n \n True Nature Holding Notes Progress on New Subsidiary\n \n \nTrue Nature Holding Notes Progress on New Subsidiary\n \n ATLANTA, GA--(Marketwired - Jun 1, 2017) - True Nature Holding, Inc. (OTCQB: TNTY) (the \"Company\") today issued the following notes on the progress of its new subsidiary formation:\n Community Health Subsidiary Updates, Appointment of CEO to Subsidiary\n The Company is in the process of acquiring a newly formed Subsidiary, called True Nature Community Health, Inc. (the \"Community Health Subsidiary\"), with a mission to enhance patient access to compounded pharmaceutical products within the most medically underserved U.S. small-town and rural marketplaces. The Company will have an 80% ownership in the Community Health Subsidiary. The remaining 20% ownership will be held by not-for-profit organizations with purposes of enhancing the availability of compounded drugs and other pharmaceuticals to medically underserved rural communities, or advancing social enterprise businesses that aim to address community health needs in similar areas.\n Dr. Jordan Balencic, Chairman of the Board of Directors, was appointed Chief Executive Officer (CEO) of the newly formed Community Health Subsidiary and will have direct responsibility for the new Community Health Subsidiary. Dr. Balencic stated, \"I am humbled by the opportunity to take the lead on such a truly impactful initiative. For facilities providing care to medically underserved populations, one of the primary obstacles to comprehensive services is accessing effective and affordable medications.\"\n He explained, \"Our new Community Health Subsidiary will provide help to Americans in small towns and rural markets with the critical medications they would normally have trouble obtaining. This opportunity will allow True Nature Holding, Inc. to tap into a large unaddressed market and serve locations that currently lack medication access. The Community Health Subsidiary will conduct business in the rural markets by operating as a program administrator and wholesaler, leveraging all of the Company's subsidiary and organizational resources. Part of this plan will include placing True Nature Holding, Inc. retail pharmacy and compounding operations within Rural Health Clinics, FQHCs (Federally Qualified Health Centers), Critical Access Hospitals and potentially within s...