Innovest Global Announces $6.0 Million Contract Renewal with Fortune 500 Healthcare Company
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Innovest Global Announces $6.0 Million Contract Renewal with Fortune 500 Healthcare Company

Tuesday, August 4, 2020 8:30 AM
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Byram Healthcare, a Subsidiary of Industry Healthcare Solutions Leader Owens & Minor Awards Innovest's HIPPA Call Center Division an Additional $1.0 Million Contract Per Year and Extends Term by Two Years

CLEVELAND, OH / ACCESSWIRE / August 4, 2020 / Innovest Global Inc. (OTC PINK:IVST), a diversified industrials company has secured a multi-year contract renewal with Byram Healthcare, a subsidiary of industry healthcare solutions leader Owens & Minor, worth an estimated $6.0 million over two years.

The initial contract award was announced on May 21, 2018 with an additional expansion announced on February 1, 2019. Today's renewal extends the contract term by two years with an estimated value of approximately $3.0 million per year.

Innovest has a trained team deployed exclusively to service the Byram Healthcare contract. Innovest's Call Center is HIPAA and PCI Compliant, SAS 70 Type II Certified, FDCPA Compliant, and is an ACA International member with many internal controls, policies, and procedures that add to client confidence.

"I am pleased to announce this significant multi-year contract renewal for Innovest's healthcare solutions segment, a testament to the quality of our service to our client partners," said Dan Martin, Chairman and Chief Executive Officer. "I am proud of our team and look forward to continuing to grow alongside Byram Healthcare as we help enable their continued success - creating sustainable value for our shareholders over the long-term."

About Byram Healthcare

Byram has been a national leader in disposable medical supply delivery since 1968. Byram provides quality supplies, services and support, specializing in diabetes supplies, ostomy supplies, wound care supplies, Urology supplies, incontinence supplies and enteral nutrition products. In 2017, Byram was acquired by Owens & Minor, a global healthcare services company, to expand the organization's ability to serve the continuum of care into the patient's home. Byram Healthcare, an Owens & Minor company, is more prepared than ever to tackle the challenging, changing healthcare landscape. Byram Healthcare is here to deliver the products, services, and support needed to maximize clinical outcomes and manage complicated benefits. For more information about Byram Healthcare, visit byramhealthcare.com.

About Owens & Minor, Inc.

Owens & Minor, Inc. (OMI) is a global healthcare services company dedicated to Connecting the World of Medical Products to the Point of CareSM by providing vital supply chain services to healthcare providers and manufacturers of healthcare products. Owens & Minor provides logistics services across the spectrum of medical products from disposable medical supplies to devices and implants. With logistics platforms strategically located in the United States and Europe, Owens & Minor serves markets where three quarters of global healthcare spending occurs. Owens & Minor's customers span the healthcare market from independent hospitals to large integrated healthcare networks, as well as group purchasing organizations, healthcare products manufacturers, and the federal government. A FORTUNE 500 company, Owens & Minor is headquartered in Richmond, Virginia, and has annualized revenues exceeding $9 billion. For more information about Owens & Minor, visit owens-minor.com, follow @Owens_Minor on Twitter, and connect on LinkedIn at www.linkedin.com/company/owens-&-minor.

About Innovest Global, Inc.

Innovest Global, Inc. (OTC Markets: IVST) is a diversified industrial company applying technology and innovation to provide value-added solutions across multiple business markets. Innovest Global builds long-term shareholder value by acquiring established industrial businesses on favorable terms, realizing synergies and achieving organic growth through investments in innovative technology and business systems. For more information, please click here.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein are included in the Company's filings with the OTC Markets. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

Investor Contact:

Indrani Egleston
Executive Vice President, Chief Financial Officer
Innovest Global, Inc.
440-644-1027
[email protected]
ir.innovestglobal.com

Chris Tyson
Managing Director
MZ Group - MZ North America
949-491-8235
[email protected]
www.mzgroup.us

SOURCE: Innovest Global Inc.

Innovest Global Inc.
Exchange:
Ticker:
OTC PINK
IVST
$0.11
($17.4940)
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