Interactive Health Network Acquires BIOTEL, a Managed Service Provider for the Cannabis Industry
May 20 2014 - 6:45AM
Marketwired
Interactive Health Network Acquires BIOTEL, a Managed Service
Provider for the Cannabis Industry
Strategic Acquisition Bolsters Market Opportunity for IHN's
Cannabis Health Group Division; BIOTEL Business Projected to
Generate Approximately $1 Million in Annual Service Revenue
RENO, NV--(Marketwired - May 20, 2014) - Interactive Health
Network ("IHN" or "the Company") (OTC Pink: IGRW) (PINKSHEETS:
IGRW), a diversified holding company operating in the legal
cannabis industry and advanced health supplements markets,
announced that it has acquired BIOTEL, a managed service provider
in the legal cannabis market.
"The acquisition of BIOTEL falls in line with our strategy to
aggressively penetrate the legal cannabis market through managed
service agreements, minority interest investments, and
acquisitions," stated Cesar D. Vazquez III, Executive Vice
President, Marketing for IHN. "After acquiring Here We Grow Store,
this transaction marks our second acquisition in this space since
the start of 2014. Both businesses will operate under our Cannabis
Health Group subsidiary, which is positioned to capitalize on the
immense opportunity in the legal cannabis market as it continues to
gain traction here in the United States."
"Through the acquisition of BIOTEL, we have expanded our
footprint and further established ourselves as a product and
services provider to the medical and recreational marijuana market.
We plan to continue to support growth and generate consistent
revenue streams through these strategic acquisitions and organic
growth with our existing products and services, all while
strengthening our holdings portfolio and driving value for our
shareholders," concluded Mr. Vasquez.
Interactive Health Network expects BIOTEL to contribute
approximately $1 million in annual revenue beginning this year.
About Interactive Health Network Interactive Health Network is a
publicly traded holdings company that manufactures, markets and
sells high quality lifestyle products and nutraceuticals; including
its wholly owned subsidiary, Cannabis Health Group, which focuses
on the medical marijuana and hemp market space. We plan on
extending and deepening our product lines to include other
progressive market segments through acquisitions. We operate under
strict levels of quality and operate with the highest level of
integrity in all of our businesses. Interactive Health Network will
not cultivate, handle, transport, grow, extract, dispense, put up
for sale, put on the market, vend, deliver, circulate, or trade
cannabis products or any substances that violates the US Law or
Controlled Substance Act. Interactive Health Network is publically
traded on the OTC market under the symbol IGRW.
About Here We Grow Store
Here We Grow Store is a leader in the Indoor Garden and
Hydroponics Industry as a national retailer of horticulture
equipment and growing supplies headquartered in Denver, Colorado.
Specializing in e-commerce worldwide, the company's website
www.herewegrowstore.com is a state of the art online retail store
where you can purchase all the leading Nutrients, Growing Lights,
and Air controllers necessary for indoor gardening. Here We Grow
Store has exclusive Distributor pricing of high quality nutrients
and grow lights that are distributed in the US and
Worldwide. For more information please visit
www.herewegrowstore.com
Forward-Looking Statements:
This press release includes forward-looking statements
concerning the future performance of our business, its operations
and its financial performance and condition, and also includes
selected operating results presented without the context of
accompanying financial results. These forward-looking statements
include, among others, statements with respect to our objectives
and strategies to achieve those objectives, as well as statements
with respect to our beliefs, plans, expectations, anticipations,
estimates or intentions. These forward-looking statements are based
on our current expectations. We caution that all forward-looking
information is inherently uncertain and actual results may differ
materially from the assumptions, estimates or expectations
reflected or contained in the forward-looking information, and that
actual future performance will be affected by a number of factors,
including economic conditions, technological change, regulatory
change and competitive factors, many of which are beyond our
control. Therefore, future events and results may vary
significantly from what we currently foresee. We are under no
obligation (and we expressly disclaim any such obligation) to
update or alter the forward-looking statements whether as a result
of new information, future events or otherwise.
CONTACT: Jeffrey Goldberger / Phil Carlson KCSA Strategic
Communications P: 212-896-1249 /
212-896-1233 Email:
jgoldberger@kcsa.com / pcarlson@kcsa.com
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