Thursday, September 09 2021 8:01 AM, EST OPTEC INTERNATIONAL Signs LOI for Acquisition of Established Medical Supply Company to Localize Same Day Deliveries Accesswire "Press Releases"
CARLSBAD, CA / ACCESSWIRE / September 9, 2021 / OPTEC International, Inc. (OTC PINK:OPTI) today announced the company has executed an LOI (Letter of Intent) for the acquisition of a West Coast , established medical supply company with over 25 years of operations in the medical supply industry. The company has also recently expanded supplies in the PPE sector in addition to the mainline medical supplies used across the world.
The company has also established purchasing agreements with US and overseas manufacturers in the medical sector. Annual revenues are currently approximately in the region of $10M , with significant possibilities for growth.
The long-term goal is to establish localized medical supply distribution centers, that can provide service to small and large clients with same day and next day deliveries. The company believes there is a huge demand and opportunity in the same day/next day deliveries that is currently underserved, similar to how Amazon created several years ago to service the retail industry.
The terms of the acquisition will be announced upon completion of the definitive agreement at the request of the seller. Closing of the transaction is expected to finalize in October 2021 , or sooner if possible.
The addition of this medical supply company in addition to OPTEC's current subsidiaries adds growth and purchasing power to the company's expanding operations and at the same time adding noticeable additional annual revenue to the consolidated financials of OPTEC International .
OPTEC further today announced the appointment of a new in-house Social Media director based at the company's new Park Center, Location in Vista, California .
