ATLANTA, GA–(Marketwired – Aug 2, 2017) – True Nature Holding, Inc. (OTCQB: TNTY) (the “Company”) today provides an update on its previously announced actions on business development and staffing:
Price Choice Pharmacy Acquisition:
On January 19, 2017 the Company entered into a Letter of Intent (“LOI”) to acquire the two (2) retail operations of Price Choice Pharmacy in Miami, Florida. On July 27, 2017, however, the Company was informed by the seller that it received an alternative proposal from a third party that included higher compensation and fewer terms. Accordingly, the Company has discontinued its efforts with Price Choice. “Over the past few months, we have learned a great deal about the retail ’embedded’ marketplace and we’ve gained encouraging insight into the Hispanic markets. We believe there is a clear, open opportunity to provide smaller grocery chains with a pharmacy operation that will help them become more competitive with larger chains that offer full services, including pharmacy services,” said Dr. Jordan Balencic, Chairman of the Board of Directors. He continued, “The key executives of Price Choice remain close to the Company, including Mr. Leo Smith, who is a member of our non-executive Advisory Board. We expect them to continue to assist us as we press forward.”
The Company intends to move forward with its plans to enter the retail pharmacy space via “mini-stores” located within smaller, second tier grocery sites, and believes those sites focused on the Hispanic market represent excellent, underserved market opportunities. To determine the best strategy, It is analyzing data from industry experts including the Top 50 Smaller Grocers (link: Top 50 Small Chains & Independents: http://www.supermarketnews.com/rankings-research/top-50-small-chains-independents) and those focused on the Hispanic markets (link: A Guide to Mexican Grocery Stores in the United States: http://www.saveur.com/article/Travels/Guide-Mexican-Grocery-Stores.)
Company Staffing Updates:
With regard to staffing, the Company has developed a short list of new, qualified CFO and CEO candidates, and expects to make staffing announcements during Q3.
Compounding Pharmacy Acquisition Updates:
With regard to compounding pharmacy acquisitions, the Company currently has two (2) existing operations under consideration, one focusing on sterile and specialty products, and the other directed toward the non-sterile markets. Both will have the capacity to create a strong presence in both the veterinary and human markets. The Company intends to address both insurance reimbursement clientele and growing numbers of “cash only” clients. “With regard to the turmoil in the insurance markets, we believe cash pricing and direct-to-consumer transactions will grow, and we intend to make our offerings competitive, locally in retail sites, regionally with compounded offerings, and with an online and mail-order presence,” stated Dr. Balencic.
The Company reports that it continues to review new acquisition candidates, and has a full pipeline which can provide both geographical expansion, and expanded product delivery options. “The phone rings regularly, and our choices continue to improve, with better terms and higher quality teams. We have learned a great deal over the past year, and believe our plan is smart, efficient and provides a strong path for success,” explained Dr. Balencic.
The Mission of True Nature Holding, Inc.
To unlock the potential of the compounding pharmacy industry to improve human and animal health, serve unmet patient needs, elevate the dignity of skilled pharmacists, and build shareholder value through the delivery of quality, cost effective, and innovative healthcare products and pharmaceuticals to the world.
Statement Under the Private Securities Litigation Reform Act
As contemplated by the provisions of the Safe Harbor section of the Private Securities Litigation Reform Act of 1995, this news release contains forward-looking statements pertaining to future, anticipated, or projected plans, performances, and developments, as well as other statements relating to future operations. All such forward-looking statements are necessarily only estimates or predictions of future results or events and there can be no assurance that actual results or events will not materially differ from expectations. Further information on potential factors that could affect True Nature Holding, Inc. is included in the Company’s filings with the Securities and Exchange Commission. We expressly disclaim any intent or obligation to update any forward-looking statements.
Investor Presentation: An investor presentation can be viewed at the following link: https://truenaturepharma.com/investor-presentation/
To learn more about the Company, visit: https://truenaturepharma.com/
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