Universal Wellness Holdings Corp (OTCMKTS:ADHC) is a publicly-traded holding company trading company. The company on July 12, 2022, announced executing a Letter of Intent for the acquisition of a medical staffing firm, which has generated more than $65 million in revenue in the last 5 years. This revenue includes more than $18 mm in 2020 as well as $15 mm in 2021.
On Tuesday, ADHC stock moved down 9.10% to $0.0030 with more than 46.35 million shares, compared to its average volume of 13.92 million shares. The stock moved within a range of $0.0029 – 0.0045 after opening trading at $0.0033.
Universal Wellness Holding Corp (OTC: ADHC) To Acquire $65 Mm In Revenue Healthcare Company
Currently, the revenues are projected to be over $20 mm annually. The medical staffing firm has witnessed profitability of 15% or more than $2.7 mm for 2021 on an EBITA basis. Currently, both buy price and other relevant details are not revealed and are subject to a confidentiality agreement.
It is estimated that the “Travel and Per Diem Nurse” staffing market reached $16 billion last year. It is anticipated to grow to $22 billion by 2026 as health care institutions are looking to adopt a flexible staffing model. This will allow them to save time and money by harnessing temporary staffing firms for meeting fluctuating manpower requirements. This in turn results in reducing the need to hire full-time employees, which may not be needed permanently.
Universal Wellness Holding Corp on June 1, 2022, announced that Rolls Choice Innovative Cannabis Adhesive Pen was available on Amazon. Furthermore, the company said that Rolls Choice will drive sales and more product offerings.
The company further stated that the product listing on eCommerce giant Amazon is an amazing achievement as it paves way for innovative cannabis products. This will be introduced to millions of customers and shareholders can anticipate more developments in the near term to provide a solid foundation for shareholder value.Customers, shareholders, and other interested people can find the product by searching AMAZON under UPC codes or clicking this link: https://tinyurl.com/yc2y543u
The agreement gives ADHC the choice to give funding to ROLLS CHOICE. A royalty will be given to the company from gross sales of Rolls Choice line of cannabis-related adhesive products. Post due diligence as well as more research into the ROLLS CHOICE product line, the parties expect that ADHC will acquire all assets of ROLLS CHOICE. Furthermore, Allen Staines, the founder of ROLLS CHOICE, will be in charge of Universal Wellness and ADHC social media sites including Instagram and Twitter.
Allen Staines, of ROLLED CHOICE, said that the company is excited about joining Universal Wellness as it gives a perfect match for growing the Cannabis Adhesive Glue Pen Product line.
With over 80,000 social media followers, ROLLED CHOICE, will be introduced to Universal’s social media platform. This relationship will firmly establish a robust presence giving brand awareness to potential customers as well as shareholders even as the Universal Wellness/Rolls Choice business relationship continues to grow.
ADHC stock is trading above the 20-Day and 50-Day Moving averages of $0.0030 and $0.0027 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0028. The company has a total market capitalization of $2.83 million. The stock is up 30% over the past month.