Business
Turbine Truck Engines, Inc. Closes Novo Healthnet Limited Acquisition
Turbine Truck Engines, Inc. Closes Novo Healthnet Limited Acquisition.
About this update from Novo Integrated Sciences, Inc.
[{"type":"text","content":"\n\n BELLEVUE, Wash., May 10, 2017 (GLOBE NEWSWIRE) -- Turbine Truck Engines, Inc. (OTCQB:TTEG) (“TTE”) is pleased to announce the closing of a share exchange with the Novo Healthnet Limited (“Novo”) shareholders, pursuant to which TTE has acquired 100% of Novo’s outstanding share capital in exchange for an 85% stake, fully diluted, in TTE, effective May 9, 2017.\n As a result of the Novo acquisition, TTE will now focus its resources and business operations on the Novo integrated healthcare model. Chris David, TTE’s President, stated, “The Novo acquisition provides TTE ownership of a well-respected, revenue generating company in the rapidly expanding healthcare sector. After analyzing a variety of components that constitute a business’ risk-reward model and then comparing the models for both the alternative energy sector and the healthcare sector, combined with the ongoing expansion of the Novo business model, all parameters indicate that moving forward with the Novo team in the healthcare sector provides TTE with an impressive growth opportunity.” To date, Novo has a physical presence in over 350 locations throughout Canada, providing healthcare treatment and services to more than 350,000 patients annually in clinic, home and institutional environments. Novo’s growth strategy is centered on expanding patient based healthcare solutions through the integration of healthcare, technology and medical science. Centralization, through the implementation of the latest hardware and software technology, is a core pillar of the Novo integrated business strategy. Through an advanced virtual physician access system, Novo’s integrated healthcare platform will present patients worldwide with one-center, patient-based healthcare diagnostic and treatment solutions without compromising the traditional primary care physician platform. Amanda Dalcourt, Novo’s CEO, stated, “The completion of this transaction marks the beginning of Novo’s expansion into the United States marketplace. The approach to centralized healthcare services anchored by technology enveloped within a non-compromising primary care platform will most certainly prove to be the solution to cost effective and efficient whole health delivery desperately needed across all sociodemographic profiles...