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OPTEC International, Inc. Completes $70M Acquisition of WeShield, An Established AI Driven NY MedTech Company In the Medical Supply & PPE Space.
OPTEC International, Inc. Completes $70M Acquisition of WeShield, An Established AI Driven NY MedTech Company In the Medical Supply & PPE Space..
About this update from Optec International, Inc.
[{"type":"text","content":"CARLSBAD, CA / ACCESSWIRE / June 8, 2021 / OPTEC International, Inc. (OTC PINK:OPTI), a developer of UV and UV-C safety products using related advanced technologies specific to Personal Protection Equipment (PPE), and supplier of wholesale Medical PPE today released the following corporate update:The company today announced the execution of the 100% acquisition of WeShield for $70 million in a combination of cash and preferred shares.WeShield, who recently received the following award,(https://www.analyticsinsight.net/company-of-the-month-weshield-embracing-ai-to-streamline-high-quality-ppe-and-safety-supplies/), is an established New York based AI (Artificial Intelligence) Driven MedTech company in the PPE space with 2020 audited revenues in excess of $55M.WeShield is extremely well engrained in the Wholesale Medical sector supplying PPE safety products to: GAP, Caesars Entertainment, Hard Rock, Defense Logistics Agency (DLA), NYC Housing Authority (NYCHA), Concordance, Henry Schein, Medline, and more.This AI driven MedTech company is on track for substantial growth and projecting revenues of over $100M for 2021. The company has a very strong, well-structured management team and uses advanced marketing technology to fuel both the company's operations and continual growth.OPTEC management is confident the acquisition will generate additional market strength, profits and shareholder value for OPTEC while simultaneously adding additional strength to OPTEC's management team.Further explanation of the terms of the deal as well as upcoming procedures and business operations between both companies in regards to the acquisition, will take place on a shareholder Zoom call, scheduled for viewing on Thursday, June 10th, 1:15pm PST. The call will be pre-recorded a day earlier. The call will include Optec CEO, Roger Pawson and WeShield executives; CEO Michael Sinensky, President Erika London, COO Amy Bove, and CFO Katharine Harris.The registration and dial-in information for the Zoom call will be posted on both companies' websites by today's end.OPTEC CEO, Roger Pawson, commented 'The acquisition of WeShield is complete. By adding an established AI driven sales and marketing platform to OPTEC, we are confident we will immediately reap the rewards from adding WeShield's team and tech to market and sell OPTEC products. In addition to these sy...