Rafina Innovations Inc. (OTC PINK: VICA), a Medical and Pharmaceutical development company, today announced the 100% acquisition of C-PHARM Ltd, an established wholesale licensed pharmaceutical company that trades products in the Euro-Asia territories.
Constantinos Zertalis, Rafina’s Chairman, President and CEO, commented: “I am very excited to announce the closing of this acquisition and to have C-PHARM’s talented team become part of Rafina.”
C-PHARM holds a wholesale license for medicinal products for human use. The scope of the license includes the import and export of Active Pharmaceutical Ingredients (API). This license allows also to trade pharmaceutical products to wholesalers and manufacturers all over the world and to support with medical consumables Cruise Ships and merchant vessels.
C-PHARM has undertaken exclusivities on behalf of pharmaceutical companies that produce medicines in Greece on the finding, control, technical chemical testing, purchase, transport, and delivery of API products. Imports are made with strict transport and storage protocol procedures, accompanied with data loggers for monitoring conditions of assets during transportation.
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Rafina plans to introduce additional funding to the C-PHARM subsidiary to expand operations and win larger contracts within the region, while simultaneously increasing purchasing power to reduce the purchase costs from manufacturers by 10-20%.
Current C-PHARM clients are purely providing Pharmaceutical products in the Greek territories and Rafina plans to expand those opportunities outside of Greece in the near future.
Rafina is currently updating the company’s website to include all the new verticals for the company’s growth. The new website is expected to launch within the next week.
Forward Looking Statements
This press release contains forward-looking statements. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “expects”, “intends”, “estimates”, “projects”, “anticipates”, “believes”, “could”, and other similar words. All statements addressing product performance, events, or developments that the Company expects or anticipates will occur in the future are forward-looking statements, including but not limited to future developments in the areas of athletic shoes and the information and performance of the Company’s technology in such applications. Because the statements are forward-looking, they should be evaluated considering important risk factors and uncertainties, some of which are described in the Company’s Quarterly, Annual and Current Reports filed with the OTC. Should one or more of these risks or uncertainties materialize or should any of the Company’s underlying assumptions prove correct, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on Company’s forward-looking statements. In particular, the Company has acquired its first operational Prosthetics & Orthotics (P&O) clinic and is continuing development efforts for its other biomedical technologies, including a “smart insole” and its Flexisense™ sensing technology with several potential applications. There is no assurance that the Company will be successful in its ongoing expansion and development efforts, or that it will find suitable commercialization partners for its technologies. Except as required by law, Rafina Innovations Inc. disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. No stock exchange, securities commission or other regulatory body has reviewed nor accepts responsibility for the adequacy or accuracy of this release. Investors are advised to carefully review the reports and documents that Rafina Innovations files from time to time with the OTC, including its Annual, Quarterly and Current Reports.
Source: Biospace
