CHINA NEW ENERGY GROUP COMPANY/THRIVE PRECISION HEALTH ANNOUNCES BINDING AGREEMENT TO ACQUIRE TWO DIABETES CLINICS IN ARIZONA
Thrive Focus: Personalized Medicine - Institutionalizing Diabetes Care for Better Patient Outcomes
SPOKANE, Wash., Oct. 25, 2023 /PRNewswire/ -- Thrive Precision Health ("THRV") (formerly Thrive Global Biosafety and China New Energy Group Company (with subsidiary Thrive Testing and Biosafety Inc., "CNER" or "Company") (OTC-Pink-Alternative Reporting Pink: CNER) is pleased to announce it has entered into a binding letter of intent to acquire two diabetes clinics on Arizona.
"Our strategy to bring advanced technology to diabetes care has taken its first step in the pending acquisition of True Diabetes Neuropathy and Wounds Solutions AZ, LLC.", stated Guy Zajonc, CEO and Chairman of Thrive Precision Health." " To us, the words Precision Health and Personalized Medicine mean better outcomes by tailoring our approach and offering individualized treatment to every patient using proven science. We will continue to acquire or start new specialized diabetes clinics in Arizona with a goal of thirty more sites".
THRV is developing a standardized clinical footprint that can scale nationwide and internationally to offer Wound Care, IV Therapies, Neuropathy Treatment, and enhanced complementary protocols. Each clinic will have up to 20 IV stations and five wound care treatment rooms, generating up to $5-6 million in total revenues per location. Our goal is a 35% EBITDA within each clinic. Approximately 85% of services are reimbursed by third-party payors such as Medicare, Medicaid, and health insurance companies. Cash paid by the patients will represent 15% of gross income from operations.
THRV will start with the two Arizona clinics, one in Gilbert and the other in Show Low, AZ.
"We are excited to join the Thrive Precision team with the ability to build a national and potentially international platform for diabetes care," says Dr. Jason Mulder, CEO of True Diabetes. "In Arizona alone, there are 600,0001 diabetics and an estimated 2 million pre-diabetics, and the caseload far exceeds the capacity to treat those affected. We want to help reverse the pre-diabetic condition before ulcers, amputation, and dialysis occur."
The Arizona Department of Health Services, in their Published Diabetes Action Plan and Report 2023, states that yearly direct and indirect costs of diabetes in Arizona exceed $6.8 billion. Arizona is expected to double its population by 2050 to 12 million and expects half will be burdened by prediabetes and diabetes. For more details on the report, click the link below:
The acquisition is an asset purchase transaction and will close once Thrive Precision Health completes its mandatory credentialing in Arizona, estimated to be 60-90 days. During this hold period, THRV will advance funds to True Diabetes to continue expanding their operations in both locations.
About Thrive Precision Health Inc.
Thrive Precision Health, Inc. ("Thrive") is building a global diabetes care powerhouse. We are starting or acquiring established healthcare clinics specializing in diabetes care and bringing in three cutting-edge technologies to make them even better. Our goal is to provide top-notch care to patients worldwide with a seamless digital experience. Imagine if your healthcare was as unique as you are. We use AI and quantum biosensors to analyze data down to the molecular level, tailoring treatments and recommendations specifically for you. This means no more one-size-fits-all solutions. Your health decisions will be based on your personal data, ensuring you receive the most effective and personalized care possible. Leveraging this groundbreaking technology and clinical services will include Wound Care, Neuropathy Care, PIR diabetes care through advanced infusion methods, and conventional and complementary treatment to improve patient outcomes. All services will be performed within a biosafety-secured facility using our biodefense technology to protect our suspectable patients and staff from bacterial and viral infections.
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Important Notice Regarding Forward-Looking Statements
This press release contains statements that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements, other than statements of present or historical fact included in this press release, regarding the Company's future financial performance, as well as the Company's strategy, future operations, revenue guidance, projected costs, prospects, plans, and objectives of management are forward-looking statements. When used in this press release, the words "could," "should," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," the negative of such terms and other similar expressions are intended to identify forward-looking statements. However, not all forward-looking statements contain such identifying words. These forward-looking statements are based on management's current expectations and assumptions about future events. They are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Nothing in this release is intended to be an offer of sale or purchase of any securities nor a solicitation of any offer for the sale or purchase of any securities.
China New Energy Group Company/Thrive Precision Health Contact:
Guy Zajonc
CEO
[email protected]
U.S. +1 (509) 230-1177
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SOURCE Thrive Precision Health
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