Veltex Corporation Begins Collaboration With The State Of West Virginia

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Mar 08, 2021, 09:00 ET

CHICAGO, March 8, 2021 /PRNewswire/ -- Veltex Corporation-- OTC Markets symbol (VLXC) Veltex Corporation ("Veltex") is pleased and proud to announce an in-depth Collaboration Agreement, effective immediately, with the State of West Virginia ("the State"), Department of Health and Human Resources. This Collaboration, in part, is to provide expert-level guidance and consultation surrounding the substance abuse disorder epidemic to those organizations to be referred to Veltex by the State. Through this collaboration, Veltex will provide evidence-based expertise to public and private partners to address a variety of management and quality-of-care challenges. Veltex brings a team of experts who understand how recovery-focused organizations can make the biggest impact with their clients. Veltex will use their vast business experience, combined with some of the best addiction specialists in the country, to bring new approaches and modalities to solving the addiction crisis as well as create financially sustainable treatment locations throughout the state of West Virginia.

Veltex has already made a significant investment in West Virginia. The corporation purchased a 30,000 square foot rehabilitation complex situated on 5 acres of land in Mount Hope, West Virginia without lien. This $5.8 million dollar investment will serve to provide both intensive in and outpatient recovery services. The Mount Hope complex will accommodate up-to 150 patients, making it one of the largest in the state. This complex, with a planned opening date in the early summer of 2021, will serve those in the region struggling with addiction. The complex will create approximately 50 full and part time positions and will become a cornerstone in the Fayette County region. Veltex is also currently exploring other opportunities around the region and West Virginia in general.

Veltex's President and Chief Executive Officer Andreas Mauritzson commented, "Veltex is very excited to for this partnership opportunity with the State of West Virginia. This will bring our unique approach to recovery for those who so deserve the dignity and success of recovery. In addition to our direct collaboration with the State, Veltex is opening our first rehabilitation facility in West Virginia. Additionally, Veltex is currently discussions with several other organization and locations in West Virginia. Those properties under review are currently operational and licensed treatment rehabilitation centers. Veltex looks forward to the motivating ways it will provide addiction and wellness services. These services will also benefit both the State and our loyal shareholders. Our next steps fit perfectly into our comprehensive expansion plan for the company."

Dr. Harry L. Haroutunian, MD., a member of the Veltex Board of Directors and serves as the senior medical advisor to Veltex stated, "I am motivated to have the opportunity to help West Virginians' suffering from the disease of addiction find their path to recovery. Having helped many people over the last several decades, I believe that the approach to treatment, normally reserved for the very wealthy, should be available to all people. I'm more than pleased to be able to use my experience to work with the many dedicated West Virginia private organizations and government officials striving diligently every day to help those suffering from substance use disorder. Our collaboration with the State is a major step in that direction."

Dr. Haroutunian is formerly the Chief Medical Officer for the world-famous Betty Ford Center in Rancho Mirage, California where he served for more than thirteen years. He is board-certified in both addiction and family medicine and utilizes cutting edge strategies to treat his patients with an exceptional success rate. Dr. Haroutunian has helped individuals and families suffering from substance use disorder for nearly 40 years as a provider, author, lecturer, sponsor, and friend. He is an internationally known speaker and authority on addiction and recovery, with feature stories in the New York Times, Cosmopolitan, Huffington Post and appeared on the Dr. Oz Show, Dr. Drew on Call and The Dr. Phil Show. He is also the best-selling author of "Not as Prescribed: Recognizing and Facing Alcohol and Drug Misuse in Older Adults" (Hazelden Publishing, 2016) and "Being Sober: Getting to, Getting through, and Living in Recovery" (Rodale, 2013).

Veltex Corporation, incorporated in Utah September 17, 1987, is a public holding corporation, which maintains its corporate headquarters in Chicago, Illinois. The company's common shares trade OTC Markets under the symbol VLXC.

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