- OPTEC International, Inc. completed the acquisition of WeShield for $70 million ($30 million cash over 9 months and $40 million in preferred restricted stock)
- WeShield executives CEO Michael Sinensky, President Erika London, COO Amy Bove signed 3 year employment agreements with Optec
- OPTEC saw immediate synergies between WeShield's sales and marketing teams when receiving orders for 10,000 BioMasks and 2,000 Rapid COVID-19 test kits
- WeShield contracted and delivered several containers of nitrile examination gloves to numerous offices in multiple states to Quest Diagnostics
- WeShield contracted and delivered several containers of nitrile examination gloves to Concordance Healthcare Solutions
- WeShield contracted and delivered several containers of chemotherapy nitrile examination gloves to Atlantic Health
- Expected corporate savings derived from merging operations between WeShield & Optec by the end of Q3 in the following departments: Warehousing and logistics, accounting, social media marketing, public and investor relations.
WeShield is deeply ingrained in the Wholesale Medical sector supplying PPE safety products to customers including 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.
WeShield President Michael Sinensky commented, "Communication with OPTEC shareholders is essential for all of us and these updates will be a way for investors to track progress and results.
About OPTEC International, Inc.
With Locations in Carlsbad and Vista, California, OPTEC International is a developer and manufacturer of electronic LED, Ultraviolet (UV) & UV-C safety products and related advanced technologies and PPE (Personal Protection Equipment) products. The company's Safe-Scan product line is being launched at a time when HR directors and facilities managers are experiencing extreme concern with respect to keeping environments safe during the global pandemic crisis and the safe reopening of the U.S. economy. For more information, visit: www.optecintl.com
Safe Harbor Statement: Safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as Opti, OPTEC or its management 'believes,' 'expects,' 'anticipates,' 'foresees,' 'forecasts,' 'estimates' or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions, or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.
Investor Relations Contact:
Michael Iorlano
760 621-0062 / [email protected]
SOURCE: Optec International, Inc.