Business
True Nature Unveils Acquisition Plans and Timeline
True Nature Unveils Acquisition Plans and Timeline.
About this update from Mitesco, Inc.
[{"type":"text","content":"\n \n \n True Nature Unveils Acquisition Plans and Timeline\n \n \nTrue Nature Unveils Acquisition Plans and Timeline\n \n ATLANTA, GA--(Marketwired - Mar 9, 2016) - True Nature Holding, Inc. (OTCQB: TNTY) (the \"Company\") today released an update on their plans to acquire a network of compounding pharmacy businesses. The plans, described on their web site at: www.truenaturepharma.com, include both regional and national presence, across multiple product lines.\n Steve Keaveney, Chairman and CEO, described the company activities by saying, \"It has been a busy quarter for us, negotiating with a series of potential acquisitions. Our plan is to evolve regionally, with operations in Florida, then moving north to Georgia, consolidating a strong presence in the Southeast. We are creating a combination of veterinary and human businesses, as well as a balance of cash oriented operations, and more typical insurance based operations. In all cases, we are carefully reviewing product mix and pricing to ensure a conventional, low risk approach, adding seasoned industry experts to the team and also understanding at the history of each business, with an eye to high integrity.\"\n Keaveney continued, \"We are in the final stages of due diligence on our first two acquisitions, and definitive agreements are being reviewed by our legal advisors. We are working to have those closed in Q2, after filing of our annual report. We are pleased to have received indications of interest for conventional debt, and the businesses are such that they can support debt and the investment required to develop the business to the next level.\"\n The Company intends to offer employment to all of the employees involved with the initial acquisitions. Plans are in place to consolidate some facilities together, creating increased margins and efficiencies. The principals of the acquisitions will become the subject matter experts that will support the technical growth plans for the products being acquired. Keaveney concluded by saying \"While we believe these acquisitions make sense and are timely, neither is closed at this time and there can be no assurance that we will actually be able to close on them, or that these will occur in the timeframe we expect.\"\n Statement Under the Private Securities Litigation Reform Act\n As contemplated by the provisions ...