Irvine California , July 06, 2022 (GLOBE NEWSWIRE) -- Irvine, CA, July 6, 2022
Lotus Bio-Technology Development Corp. Enters Fast-Growing Digital Health and Wellness Home Testing Markets with the Acquisition of Focal Point, Inc. and Boomerangkit.com, LLC.
Lotus Bio-Technology Development Corp. (OTC:LBTD) announced today that it has acquired 100% of Boomerangkit.com, LLC and parent company, Focal Point, Inc., with the intent to combine the businesses and assets of the two companies into one operating entity. These acquisitions will give LBTD an immediate foothold in the fast-growing digital health and wellness home testing market, joining high-growth companies such as Everlywell ($2.9 billion) and Color ($4.6 billion).
LBTD is pleased to announce that Zoltan Nagy will remain on as director, while Hoyt Christopher has been named CEO of the company. Christopher has been in the health and wellness space for 12 years, acting as owner and operator of multimillion-dollar companies, as well as serving as senior executive for some of the biggest CPG brands in the industry. He is known as a high-energy executive with a keen eye for developing new marketing, sales, and operations strategies. LBTD is dedicated to surrounding Christopher with a winning team, and looks forward to announcing additional board members in the near future.
LBTD’s immediate plans include utilizing the combined assets of Boomerang and Focal Point to rapidly increase their presence in the digital health and wellness home testing markets. Both companies have already been active and growing in the medical laboratory and home testing arenas, and LBTD believes that by combining the resources of both acquired companies, it will be able to quickly expand activity, reach, and production. Looking ahead, LBTD hopes to duplicate the successes of the two digital health and wellness testing giants mentioned above.
More information about the acquired companies can be found at: boomerangkit.com
Safe Harbor Statement: This press release contains “forward-looking statements.” Although the forward-looking statements in this release reflect the good faith judgment of management, forward- looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements.
Readers are urged to carefully review and consider the various disclosures made by LBTD in our reports filed with the Securities and Exchange Commission, including the risk factors that attempt to advise interested parties of the risks that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
Contact:
David Ottestad, Creative Director Email: ir@boomerandgkit.com
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July 06, 2022 at 08:00PM
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Lotus Bio-Technology Development Corp. Enters Fast-Growing Digital Health and Wellness Home Testing Markets with the Acquisition of Focal Point, Inc. and Boomerangkit.com, LLC. - GlobeNewswire
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