RENO, NV, May 20, 2014 (Marketwired via COMTEX) -- Interactive Health Network ("IHN" or "the Company") (otc pink:IGRW) (pinksheets:IGRW), a diversified holding company operating in the legal cannabis industry and advanced health supplements markets, announced that it has acquired BIOTEL, a managed service provider in the legal cannabis market.
"The acquisition of BIOTEL falls in line with our strategy to aggressively penetrate the legal cannabis market through managed service agreements, minority interest investments, and acquisitions," stated Cesar D. Vazquez III, Executive Vice President, Marketing for IHN. "After acquiring Here We Grow Store, this transaction marks our second acquisition in this space since the start of 2014. Both businesses will operate under our Cannabis Health Group subsidiary, which is positioned to capitalize on the immense opportunity in the legal cannabis market as it continues to gain traction here in the United States."
"Through the acquisition of BIOTEL, we have expanded our footprint and further established ourselves as a product and services provider to the medical and recreational marijuana market. We plan to continue to support growth and generate consistent revenue streams through these strategic acquisitions and organic growth with our existing products and services, all while strengthening our holdings portfolio and driving value for our shareholders," concluded Mr. Vasquez.
Interactive Health Network expects BIOTEL to contribute approximately $1 million in annual revenue beginning this year.
About Interactive Health Network Interactive Health Network is a publicly traded holdings company that manufactures, markets and sells high quality lifestyle products and nutraceuticals; including its wholly owned subsidiary, Cannabis Health Group, which focuses on the medical marijuana and hemp market space. We plan on extending and deepening our product lines to include other progressive market segments through acquisitions. We operate under strict levels of quality and operate with the highest level of integrity in all of our businesses. Interactive Health Network will not cultivate, handle, transport, grow, extract, dispense, put up for sale, put on the market, vend, deliver, circulate, or trade cannabis products or any substances that violates the US Law or Controlled Substance Act. Interactive Health Network is publically traded on the OTC market under the symbol IGRW.
About Here We Grow Store
Here We Grow Store is a leader in the Indoor Garden and Hydroponics Industry as a national retailer of horticulture equipment and growing supplies headquartered in Denver, Colorado. Specializing in e-commerce worldwide, the company's website www.herewegrowstore.com is a state of the art online retail store where you can purchase all the leading Nutrients, Growing Lights, and Air controllers necessary for indoor gardening. Here We Grow Store has exclusive Distributor pricing of high quality nutrients and grow lights that are distributed in the US and Worldwide. For more information please visit www.herewegrowstore.com
Forward-Looking Statements:
This press release includes forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, and also includes selected operating results presented without the context of accompanying financial results. These forward-looking statements include, among others, statements with respect to our objectives and strategies to achieve those objectives, as well as statements with respect to our beliefs, plans, expectations, anticipations, estimates or intentions. These forward-looking statements are based on our current expectations. We caution that all forward-looking information is inherently uncertain and actual results may differ materially from the assumptions, estimates or expectations reflected or contained in the forward-looking information, and that actual future performance will be affected by a number of factors, including economic conditions, technological change, regulatory change and competitive factors, many of which are beyond our control. Therefore, future events and results may vary significantly from what we currently foresee. We are under no obligation (and we expressly disclaim any such obligation) to update or alter the forward-looking statements whether as a result of new information, future events or otherwise.
CONTACT:
Jeffrey Goldberger / Phil Carlson
KCSA Strategic Communications
P: 212-896-1249 / 212-896-1233
Email: jgoldberger@kcsa.com / pcarlson@kcsa.com
SOURCE: Interactive Health Network