ATLANTA, GA, Nov. 05, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- True Nature Holding, Inc. (OTCQB: TNTY, “the Company”) today announced that is has created a new business identity, and is creating a new corporate entity, “Mitesco”, to provide an innovation ecosystem for accelerating high-potential, later-stage startups across synergistic medical technology sectors, via a multi-country presence in North America and Europe.
Mitesco will initially seek to assist mid-stage to late-stage startups, generally with revenues in the $2 million to $20 million range, which have clearly defined opportunities to scale. The new entity is focused on a singular purpose – to make it as easy as possible for entrepreneurs to launch and grow new medical technology innovations and ventures. Mitesco’s mission, which is to thrive by helping others thrive - will use its extensive connections in the medical technology financial community to help entrepreneurs who are focusing on areas such as Electronic Health Records, On-Demand Care including Telehealth, Consumer Health, including wearables, devices, and mobile apps and Artificial Intelligence enhanced medical data analytics.
“We have observed that at almost any stage, multidisciplinary spawned health care and medical innovations often have difficulties securing funding from conventional sources due to diverse ownership stakes. This lack of funding limits the potential for that innovation. In response, Mitesco will focus on assisting under-recognized technology innovators, who are already demonstrating results but need capital to grow market size and acceptance. By facilitating collaboration between these technology creators and alternative institutional financial sources, we believe we can significantly reduce the time to grow these businesses from regional success to national, or international commercialization - wherever the opportunities present themselves,” said Larry Diamond, CEO of True Nature, now dba “Mitesco”.
Julie R. Smith, the recently named President & COO, stated, “We see the chance to change the world of healthcare innovation by transforming technology innovators into bonafide technology companies, by consolidating ownership and providing much needed C-level administrative services including financial, operational and marketing. Regardless of how impressive any technology may be, Wall Street and alternative medical technology investors are limited to investing only into well-defined companies, with financial systems and accounting, which is equally well defined. It’s a shortcoming that when overcome, can bring many of the most significant innovations from around the world to surface to its true and deserved potential.”
She added, “As we acquire these technology providers, we can facilitate financial collaborations and provide administrative services on an ongoing basis. We will be transforming entities, which at one point weren’t ‘investable’, into being ‘investable’ and at the same time building a portfolio for Mitesco of later stage, high potential companies. Our goal is to create an ecosystem without the capital outlay typical of a venture capital firm, by instead providing valuable services for equity. It’s an ecosystem for innovation which provides a high-potential win-win environment for Mitesco, its shareholders, the companies it works with potentially for years to come.”
To accomplish its goal, Mitesco has, over the past year, built a team of ‘seed-to-farm’ experts. This team has the professional experience and is uniquely qualified in the medical technology segment, can quickly assess later-stage individual entrepreneurs, teams or companies, which are developing scalable technology. It has a team of dealmakers to negotiate the relationship with the innovator, and using its public company status, could see impressive PE ratios because of the growth potential. Mitesco has additionally mobilized a top-level administrative team experienced at all levels of corporate structure and financial reporting including detailed SEC reporting. And finally, it has a vastly experienced team and outside advisors with decades on Wall Street to introduce its portfolio companies to growth-oriented investors, both on and off Wall Street, when the time is appropriate.
Mitesco is Latin for progress. True Nature is pleased to announce that it has progressed to the launch stage and will be releasing a launch date before the completion of 2019. It is planning a shareholder letter that will give a roadmap to our plans and ambitions for 2020, along with a new corporate presentation clearly defining the sectors it intends to target with in-depth details of the impressive team powering the effort.
The Mission of True Nature Holding, Inc.
We are an international holding company focused on acquiring companies in the healthcare technology sector in North America and Europe. Our mission is to integrate and deploy scalable technology solutions that reduce cost, improve care and increase efficiency. We see cross-border expansion, and a combination of technology and distribution ready entities as an efficient means of rapid growth, working with the largest players in the field. We believe we can thrive by helping others thrive.
Statement Under the Private Securities Litigation Reform Act
As contemplated by the provisions of the Safe Harbor section of the Private Securities Litigation Reform Act of 1995, this news release contains forward-looking statements pertaining to future, anticipated, or projected plans, performances, and developments, as well as other statements relating to future operations. All such forward-looking statements are necessarily only estimates or predictions of future results or events and there can be no assurance that actual results or events will not materially differ from expectations. Further information on potential factors that could affect True Nature Holding, Inc. is included in the Company's filings with the Securities and Exchange Commission. We expressly disclaim any intent or obligation to update any forward-looking statements.
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