Vertical Wellness Acquires Tech-Holdings To Expand Proprietary Health and Wellness Hemp CBD Offerings Through Patented Technology And Brands
Vertical Wellness acquired the assets of Tech-Holdings and various affiliates for between $5 and $10 million in debt, equity and earnout. No other financial details were disclosed.
Smoke Wallin, Chairman and CEO of Vertical Wellness said, “The team at Tech-Holdings, led by Steven Trenk, Tony Alfiere, and Ed Abel have accomplished what few in the industry have even thought of doing –they invented and patented novel ways of delivering cannabinoid ingredients that make them more effective and faster acting for medical ailments and conditions, within minutes, not hours. This is a game changer and will help us differentiate our brands from the rest of the market that mostly have no or limited science to their formulations. I welcome them to our growing team.”
Steven Trenk, founder & CEO of Tech-Holdings, and a long-time ArcView member and extensive investor in the cannabis space said, “We are delighted to bring our proprietary patented technology to Vertical Wellness. We talked to many of the largest players in the hemp and cannabis space in coming to our decision to join the Vertical team. Smoke’s vision for a vertically integrated consumer-focused health and wellness brand company, utilizing cannabinoid ingredients to help with insomnia, anxiety and pain as well as general health and wellness, resonated strongly with our team and investors.”
The combination enables a comprehensive line of unique, proprietary, fast acting products to address the needs of consumers in every demographic, geographic and economic segment of the marketplace. The patented technology enables Vertical Wellness to build on its relationships with its world class partners, including its kathy ireland Worldwide partnership, by creating proprietary products with high efficacy in the health, wellness and beauty segments of the market.
“We are very much looking forward to launching our CBD Hemp brands with Vertical Wellness,” says Kathy Ireland, Chair, CEO and Chief Designer of kiWW, and Vertical Wellness Advisory Board member who is named among the top ten women’s health advocates in America, according to UCLA. “We are committed to bringing our customers the most cutting-edge and highest quality products and incorporating Tech-Holdings patented technology into our products helps to truly differentiate them in the market.”
The initial releases are topical products including lotions for relief of pain and inflammation, day and night eye care, facial treatments and hand relief and includes Tech-Holdings proprietary brands, The Gold Q and AntiDos.
Neha writes articles on sectors including medicine, food, materials, and science & technology. A qualified statistician, she has the ability to observe and analyze the trends in global markets and write compelling articles that help CXOs in decision making. She is a bookworm and loves to read fiction, lifestyle, science and technology. Neha comes with 6 years of experience in content writing and editing that involves blog writing, preparation of study materials and OERs.