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TPT Global Tech Subsidiary Signs Merger Agreement with Education System Management Which Merged Company Will Specialize in Behavioral Health and Telemedicine
TPT Global Tech Subsidiary Signs Merger Agreement with Education System Management Which Merged Company Will Specialize in Behavioral Health and Telemedicine.
About this update from Tpt Global Tech, Inc.
[{"type":"text","content":"TPT Global Tech and TPT MedTech Subsidiary and EDSM merger will focus on technology, med-tech and behavioral health serving communities in need with TPT shareholders receiving subsidiary stock as a dividendSAN DIEGO, CA / ACCESSWIRE / June 22, 2021 / TPT Global Tech, Inc. ("TPTW" or the "Company") (OTCQB:TPTW) today announced its subsidiary, TPT Strategic ("TPT Strategic" OTCBB: INOQ) has signed a merger agreement with Education Systems Management, LLC ("EDSM") to create a merged public entity. As previously promised, it is the intent that current TPT shareholders will receive TPT Strategic stock as a dividend after the merger is complete and appropriate shares are registered with the SEC under a registration rights agreement. TPT Strategic will become a non controlling interest to TPTW after the merger. In addition, both parties will enter into a software development and licensing agreement for the development of a standalone backend and front-end telemedicine technology platform which is not to exceed $3.5M in cost. Currently, EDSM has approximately $4 million in revenue and is profitable. Closing is expected on or before August 1, 2021.As was first announced, each company will bring to the new entity the ability to market an array of products and services across the country that will include, but are not be limited to, consulting and medical staffing for TPT MedTech's QuikLAB™ and QuikPASS™ infrastructure build out for proposed strategic testing through its high complexity laboratories. Beyond that, the new entity will provide testing, research and development for COVID-19 and other infectious diseases, Pharmocogenics (PGx), and Toxicology to include just a few. Additionally, there will be a focus on Primary Care, Specialized Subspecialties such as Behavioral Health, School Based Health Care with Mental Health monitoring via High Tech POS/EHR Streamlined Systems around the nation. The newly merged business has also pledged to support a higher research contribution and more testing for Sickle Cell.In merging its subsidiary with Education System Management, TPT will be aligning itself with one of the nation's most prominent citizens and a universally revered community leader, Dr. Carroll Harrison Braddy. Dr. Braddy is the CEO and Founder of EDSM which is the parent company of ...