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OPTEC International, Inc. Completes $70M Acquisition of WeShield, An Established AI Driven NY MedTech Company In the Medical Supply & PPE Space.

Tuesday, June 8, 2021 10:30 AM
Optec International, Inc.

CARLSBAD, CA / ACCESSWIRE / June 8, 2021 / OPTEC International, Inc. (OTC PINK:OPTI), a developer of UV and UV-C safety products using related advanced technologies specific to Personal Protection Equipment (PPE), and supplier of wholesale Medical PPE today released the following corporate update:

The company today announced the execution of the 100% acquisition of WeShield for $70 million in a combination of cash and preferred shares.

WeShield, who recently received the following award,(, is an established New York based AI (Artificial Intelligence) Driven MedTech company in the PPE space with 2020 audited revenues in excess of $55M.

WeShield is extremely well engrained in the Wholesale Medical sector supplying PPE safety products to: 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. The company has a very strong, well-structured management team and uses advanced marketing technology to fuel both the company's operations and continual growth.

OPTEC management is confident the acquisition will generate additional market strength, profits and shareholder value for OPTEC while simultaneously adding additional strength to OPTEC's management team.

Further explanation of the terms of the deal as well as upcoming procedures and business operations between both companies in regards to the acquisition, will take place on a shareholder Zoom call, scheduled for viewing on Thursday, June 10th, 1:15pm PST. The call will be pre-recorded a day earlier. The call will include Optec CEO, Roger Pawson and WeShield executives; CEO Michael Sinensky, President Erika London, COO Amy Bove, and CFO Katharine Harris.

The registration and dial-in information for the Zoom call will be posted on both companies' websites by today's end.

OPTEC CEO, Roger Pawson, commented 'The acquisition of WeShield is complete. By adding an established AI driven sales and marketing platform to OPTEC, we are confident we will immediately reap the rewards from adding WeShield's team and tech to market and sell OPTEC products. In addition to these synergies, we expect to add over $100 million in 2021 projected sales from WeShield.'

WeShield President Michael Sinensky commented, We're joining OPTEC today! Our team is ready to showcase their full suite of products to our client base of healthcare institutions, government agencies, Fortune 500 companies and businesses throughout the retail and hospitality verticals. Our original plan to move further into the health care space, including mobile testing and vaccinations, medical and non-medical staffing, partnerships with labs and urgent care facilities, and telemedicine will happen much faster than expected now under the OPTEC umbrella. The core WeShield team is all staying on board to see this through."

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:

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]

Michael Sinensky, WeShield
646.533.2360 | [email protected]
Optec International, Inc., Tuesday, June 8, 2021, Press release picture

SOURCE: OPTEC International, Inc.

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