Altitude International Holdings, Inc. (OTCQB: “ALTD”) has announced the signing of a Letter of Intent with Total Lifestyle Care LLC (dba “Stem Lyft”) through which ALTD will acquire all outstanding shares of Stem Lyft. Stem Lyft operates a “Total Wellness Center” in Spring, Texas, and is in the process of executing an expansion program through a national franchising strategy.
Under the terms of the Agreement, Stem Lyft will change its name to Altitude Wellness and will operate as a wholly-owned subsidiary of ALTD following the closing. Prior to the closing, Stem Lyft has also agreed to pay for the expansion of the present Stem Lyft site, including the purchase of a new ALTD Altitude Chamber, as well as funding two new fully equipped locations in Florida including all operating costs for the first 3 months.
“This is a very exciting deal for us for a number of reasons,” said ALTD CEO Greg Breunich. “Our altitude chambers will now be the centerpiece of our own chain of wellness centers and will be utilized by doctors for weight loss, physical rehab, and a variety of other applications where altitude exposure has shown measurable documented benefits. This new model will also be generating a re-occurring revenue stream for our altitude chambers, something I have been working towards since I became CEO of ALTD three months ago. Add to that a team of entrepreneurial doctors and we have ourselves a very compelling opportunity.”
Dr. Huong Le, CEO of Stem Lyft added, “Stem Lyft looks forward to being a big part of the ALTD family. Our team of forward-thinking doctors and staff have shown great vision and built a proven model in the holistic and medical wellness arenas focusing on the field of functional and nutritional medicine. Stem Lyft was one of the first wellness clinics to offer Covid testing with rapid nasal and PCR technology under EUA guidelines. We partnered with 200 corporations to offer early Covid screenings to their employees in an effort to flatten the pandemic curve. We are in the process of evaluating various protocols to strengthen body immunity and increase performance and recovery with a core vision of holistic preventive medicine. With the addition of our renowned executive staff, board of directors, and our many celebrity endorsements, we are confident that Altitude Wellness will become a household name and leader in the wellness industry.”
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Source: Biospace