Management to Provide Update on Strategic Acquisitions, Financing, Growth Initiatives & Spin Out of NuGenerex Immuno-Oncology
MIRAMAR, FL, Feb. 15, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Generex Biotechnology Corporation (www.generex.com) (OTCQB: GNBT) (http://www.otcmarkets.com/stock/GNBT/quote), today announced an agenda for the investor conference call to be presented Tuesday, February 26, at 11:00 AM. Eastern time. Joseph Moscato, President & Chief Executive Officer of Generex will provide a February update on the progress and status of the company’s strategic plans and operations. Mr. Moscato will provide new information on current and planned acquisitions of products and businesses that bolster and expand the capabilities and service offerings of the NuGenerex family of subsidiary companies, continuing the Generex mission to provide integrated solutions for patients and the healthcare community.
- Potential Acquisition of 13 Hospitals as well as Hospital IT and Management company
- Potential Acquisition of World Class Nutraceutical Company
- Potential Acquisition of Home Delivered Medically Approved Foods Business for Chronic Care of diabetes, cancer, cardiovascular, and rheumatoid arthritis patients
- Acquisition of Direct to Patient End to End Pharmacy Business
- Update on Fuse Medical Acquisition
- Update on Medisource Partners Acquisition
- Update on Pantheon Acquisition
- Update on NuGenerex Immuno-Oncology (NGIO) dividend and Go Public Strategy
- Acquisition plans for NGIO Merger with Company with Synergistic Platforms
- NGIO Acquisition of World Class IP
- Discussion of financial and legal issues
“We are executing on our strategy to build Generex as a strategic life science holdings company,” stated Mr. Moscato. “We are engaging orthopedic and podiatry practices to expand our MSO network, which we are supporting with new products and services, including the software platform DME-IQ, the FDA-cleared wound conforming gel ExcellagenÔ from our subsidiary Olaregen, and a broad portfolio of surgical supplies and biologics from our impending acquisitions of Fuse Medical, Pantheon, and Medisource Partners. Additionally, we are planning due diligence on the acquisition of a health system management company with a network of 13 hospitals in several states. We are also finalizing the audit and acquisition of the direct-to-patient network of pharmacies and IT systems that will augment the company’s pharmacy backbone.”
Mr. Moscato continued, “Our goal is to provide physicians and their patients with integrated health solutions that focus on the needs of the patient in achieving and maintaining health. In addition to our pharmaceutical and medical device portfolio, we plan to expand our offerings into holistic medicine with the acquisition of two highly successful companies in the medical meal and nutraceutical sectors. Medical meals and nutritional supplements are essential elements of patient centric care, with the clinical data clearly demonstrating improvement in health status and reduction in hospital admission rates for patients who receive home delivery of chronic care meals, including patients with cancer, cardiovascular disease, diabetes, and rheumatoid arthritis. Medicaid programs in several states cover home delivery of medically approved meals, and the acquisition target has an ongoing business that is projected to grow substantially. Starting in 2020, it is expected that medical meals will be covered under Medicare, as CMS has proposed Medicare Advantage and Part D payment and policy updates to maximize competition and coverage (CMS.gov Jan 30, 2019). These potential acquisitions for the NuGenerex family of companies will add new products and service lines, as well as significant revenues and profits for the Generex holding company. I will provide updates on our current operating companies and our plans to finalize these exciting acquisitions.”
On the conference call, Mr. Moscato will provide more in-depth details on the Company’s financing initiatives, an overview of the recent and potential acquisitions, and updates regarding the dividend and spin out of NuGenerex Immuno-Oncology, which will include licensing of patents and intellectual property from a renowned research institution, the acquisition and integration of an immune-oncology company with synergistic platform technologies and product candidates in Phase II, and a potential co-development deal with an immuno-oncology company that is developing neo-antigen technology for the treatment of cancer.
Mr. Moscato concluded, “Lastly, I plan to address a recent legal issue that has been raised by the actions of a debt financing firm, which have had a detrimental effect on Generex and our shareholders. We are taking the necessary steps to defend the company against unscrupulous business practices, and I will inform the investment community of our position in this matter. As always, we will leave sufficient time at the end of call to address any and all questions from our loyal Generex shareholders, and I look forward to an informative discussion on February 26th.”
The access information for the investor conference call is as follows:
Tuesday, February 26, at 11:00 AM. Eastern time
Domestic US/Canada – 1-888‑632‑3385
Direct Toll / International – 1-785‑424‑1673
Conference ID - 85014
About Generex Biotechnology Corp.
Generex Biotechnology is an integrated healthcare holding company with end-to-end solutions for patient centric care from rapid diagnosis through delivery of personalized therapies. Generex is building a new kind of healthcare company that extends beyond traditional models providing support to physicians in an MSO network, and ongoing relationships with patients to improve the patient experience and access to optimal care.
In addition to advancing a legacy portfolio of immuno-oncology assets, medical devices, and diagnostics, the Company is focused on an acquisition strategy of strategic businesses that complement existing assets and provide immediate sources of revenue and working capital. Recent acquisitions include a management services organization, a network of pharmacies, clinical laboratory, and medical device companies with new and approved products.
Our newly formed, wholly-owned subsidiary, NuGenerex Distribution Solutions (NDS), integrates our MSO network with a pharmacy network, clinical diagnostic lab, durable medical equipment company (DME-IQ) and dedicated call center.
Cautionary Note Regarding Forward-Looking Statements
This release and oral statements made from time to time by Generex representatives in respect of the same subject matter may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by introductory words such as "expects," "plan," "believes," "will," "achieve," "anticipate," "would," "should," "subject to" or words of similar meaning, and by the fact that they do not relate strictly to historical or current facts. Forward-looking statements frequently are used in discussing potential product applications, potential collaborations, product development activities, clinical studies, regulatory submissions and approvals, and similar operating matters. Many factors may cause actual results to differ from forward-looking statements, including inaccurate assumptions and a broad variety of risks and uncertainties, some of which are known and others of which are not. Known risks and uncertainties include those identified from time to time in the reports filed by Generex with the Securities and Exchange Commission, which should be considered together with any forward-looking statement. No forward-looking statement is a guarantee of future results or events, and one should avoid placing undue reliance on such statements. Generex undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Generex claims the protection of the safe harbor for forward-looking statements that is contained in the Private Securities Litigation Reform Act.