Veltex Corporation Announces Dr. Harry L. Haroutunian, MD Joins Board of Directors

Company Enters Behavioral Healthcare and Treatment Arena

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Apr 23, 2019, 09:00 ET

CHICAGO, April 23, 2019 /PRNewswire/ -- Veltex Corporation -- OTC Markets symbol (OTC:VLXC) Veltex Corporation ("Veltex") announces that Dr. Harry L. Haroutunian, MD has joined the Veltex Board of Directors effective immediately. This appointment expands the Veltex board to six.

Veltex President and CEO Andreas Mauritzson commented, "We are very excited to welcome Dr. Haroutunian to our board who is the foremost expert in the field of addiction treatment and brings with him deep knowledge, extensive relationships and a unique approach to recovery. Dr. Haroutunian will be a cornerstone to Veltex's highly anticipated entry into the $25 billion health and wellness business. An important part of our business strategy, in part, will be to make targeted acquisitions of behavioral health facilities. Moreover, reduced capacity, the passage of mental health parity legislation and increased demand for mental health services, along with the current and future anticipated tax advantages to Veltex makes this extremely advantageous for our shareholders."

Dr. Haroutunian earned his medical degree from Albany Medical College of Union University in Albany, New York. He is a member of the American Academy of Family Physicians, California Academy of Family Physicians, American Society of Addiction Medicine, American Medical Association, American Board of Addiction Medicine, and American Board of Family Medicine. He is certified by the American Board of Family Physicians and American Board of Addiction Medicine. He serves on the Substance Abuse Advisory Board for the Screen Actors Guild, on the Substance Abuse Advisory Board for the American Bar Association's Lawyer Assistance Programs, and on the Advisory Board for Alliance for a Healthier Generation, supported by the American Heart Association and the Clinton Foundation.

Dr. Haroutunian has helped individuals and families suffering from the disease of addiction for nearly 40 years. Dr. Harry is an internationally-known speaker and authority on topics of addiction and recovery from the disease of addiction, and has been featured in the New York Times, Cosmopolitan, Huffington Post and appeared on the Dr. Oz Show, Dr. Drew on Call and The Dr. Phil Show.

Following a 30-year history of family and sports medicine in southern Vermont, Dr. Harry spent the next thirteen years as Physician Director of Professional and Residential Programs at the world-famous Betty Ford Center in Rancho Mirage, California. Board-certified in both addiction and family medicine, Dr. Haroutunian has worked with thousands of patients in treatment, ranging from high-profile celebrities and CEOs, members of congress, business leaders and professional athletes. Dr. Harry served as a consultant to major treatment centers, professional sports teams and Fortune 500 companies.

Most recently, Dr. Harry is president and founding director of Harry Haroutunian, MD, a professional corporation delivering addiction treatment services designed to help populations not well served by the traditional treatment model with offices in Rancho Mirage and Beverly Hills, California. His approach is discreet, focused, intense and confidential. Dr. Harry works with a limited number of patients at any given time so his attention is focused on the preparation and follow-up required for successful outcomes.

Dr. Harry is the author of "Not As Prescribed: Recognizing and Facing Alcohol and Drug Misuse in Older Adults" (Hazelden Publishing, 2016) and "Being Sober: A Step-by-Step Guide to Getting To, Getting Through, and Living in Recovery" (Rodale, 2013). He is co-author of "Hijacking the Brain." He also created Recovery 101, a series of recorded lectures on the topics of addiction medicine, recovery issues, communication skills, spirituality and relapse prevention. This series is used throughout the country by treatment facilities, family-care programs, and medical schools to educate new doctors.

About Veltex

Veltex's corporate strategy will be to immediately begin exploring the development of and the acquisition of companies which have established or advanced the latest modalities in the areas of health, wellness, and recovery. Veltex has begun and will continue to assemble a team of experts in these fields and will take a multi-tiered approach including joint ventures and collaboration agreements.

Veltex will begin acquiring existing addiction treatment facilities and cutting-edge recovery programs. The company will brand a superior model for inpatient and outpatient addiction treatment including, but not limited to alcohol and drug treatment, gambling, gaming and eating disorders. Veltex will identify companies doing vanguard research into the development and distribution of restorative brain health products designed to maximize the potential for successful recovery from addiction and depression.

Veltex Corporation was formed as a publicly traded corporation in the State of Utah in 1987. Our common stock is listed for trading on the OTC Markets under the symbol "VLXC." Our principal executive offices are located at 123 West Madison Street, Suite 1500, Chicago, Illinois 60602.

Safe Harbor Statement
Certain of the above statements contained in this press release are forward-looking statements that involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those indicated in the forward-looking statements as a result of various factors. This press release includes forward-looking statements intended to qualify for the 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 Veltex or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe Veltex'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.

SOURCE Veltex Corporation