VANCOUVER, BC, Aug. 22,
2023 /CNW/ - Principal Technologies Inc.
(the "Company" or "Principal")
(TSXV: PTEC.P), a healthcare technologies investor, is
pleased to provide a corporate update to shareholders and also
announces that it has updated and upgraded its website
(www.principal-technologies.com) to better reflect the strategic
focus of the Company.
Principal's focus is to capitalize on arbitrage situations by
acquiring healthcare technology companies with proven and leading
technologies in the European Union ("EU"), expanding sales
globally and taking advantage of the higher valuations in
North America.
The Company plans to acquire a substantial private healthcare
technology company within 12 months which will transform Principal
and provide a platform for future growth and profitability.
The Company has access to both acquisition targets and
significant EU capital through its high profile management team and
advisors. Key people include:
Jerry Trent – President, CEO
Chief Executive Officer and Director
Mr. Trent is the
founder of Trent Investments, a multi-family direct investment
agency for European ultra-high net-worth individuals and asset
management funds. In Europe, he
served as the head of global markets and investment banking at
SberBank, as well as the head of M&A, and member of the Global
Deals Origination Group at PricewaterhouseCoopers. Mr. Trent's
experience also includes being a successful Wall Street investor
and portfolio manager.
Prince Alfred of Liechtenstein – Chairman, Board of
Directors
Prince Alfred of
Liechtenstein has served on
numerous boards and in several supervisory positions, including at
LGT Group (the largest family-owned asset management group
globally). He holds a master's degree in economics and informatics
and has authored numerous books and articles on a wide range of
topics. Prince Alfred is also the
Chairman of the advisory board of the International Peace
Foundation, of which 19 advisors are Nobel Prize Laureates,
including four in the medical field. His Serene Highness has also
received multiple awards and prizes for his healthcare initiatives
and humanitarian activity.
Dr. Leopold Specht -
Director
Dr. Specht is a veteran attorney with extensive
investment experience. He is the owner of international corporate
law firm Specht & Partner. In addition to serving on numerous
boards, he is a member of the Economic Council at Harvard Institute
for Global Law at Harvard Law School. Widely renowned for his
expertise, Dr. Specht regularly serves as a guest lecturer at
institutions such as Harvard
University, Brown University,
the University of Turin, and the
University of Sapienza Rome.
Dr. Gerald Rainer - Chairman,
Board of Advisors
Dr. Rainer is the former CEO of
Julius Baer, a USD$400 billion asset management company in
Switzerland. He has also served as
a board member and trustee of several large international
organizations. His impressive business acumen and extensive
international network have allowed him to also thrive as a serial
entrepreneur.
Dr. Ivo Ivanovski - Board of
Advisors
Dr. Ivanovski served as the IT Minister of the
Republic of Macedonia from 2006 to
2015. He then entered the private sector as head of mergers and
acquisitions, international affairs and regulations at A1 Telekom
Austria Group, where he now serves as the CEO of the
exchange-listed Tower Co. Dr. Ivanovski has received multiple
awards over the course of his career, including the International
Telecommunication Union's Distinguished Silver Star Award and an
Honorary Doctorate for Technology Leadership.
Rick Geoffrion - Board of
Advisors
Mr. Geoffrion has been president and CEO of
multiple healthcare technology companies that have developed
proprietary systems to significantly improve patient outcomes. Over
the course of his 35-year career, Mr. Geoffrion has also served in
board positions at numerous healthcare technology companies.
Currently, he is vice-chairman of the Mullings Group, a leading
career development firm focused on the healthcare sector.
Peter McKeown - CFO
A
seasoned finance and business professional, Mr. McKeown has founded
and served in executive positions at multiple successful Canadian
public companies. Armed with decades of experience, Peter is a
serial entrepreneur focused on the technology and resource sectors.
He is a CPA and obtained a B.Comm from Carleton University.
The Company has made a few strategic acquisitions to date,
primarily made to provide a technical due diligence team based in
the EU and also to substantiate the valuation model.
E&E CRO Consulting GmbH ("E&E")
An 80-percent-owned clinical research organization, E&E
facilitates the international distribution permits process for
healthcare technology companies. This strategic investment will
allow Principal to build a unique database which it will leverage
to improve patient outcomes, serve the industry (hospitals,
insurers and other stakeholders seeking medical information), as
well as find new acquisition targets for its international rollout
process. Based in the EU, E&E is a cash-flow-positive company
with stable revenue and a highly experienced in-house technical due
diligence team.
Vision Surgery AI ("Vision")
A minor equity investment with the capacity for expanded ownership
as operations increase, Vision uses advanced computer vision and
artificial intelligence technology for real-time monitoring of
surgical teams and operating room equipment. Its technology detects
and sends alerts about any anomaly or deviation from typical
surgical procedures, significantly reducing complications and
fatalities. Vision's technology also leverages collected
observations to build a database of medical information for machine
learning purposes. Given that roughly 80 percent of surgical
fatalities stem from human error, Vision has the potential to
considerably improve surgical outcomes.
The Company is now fully operational and pursuing its strategic
focus. In the next 12 months it plans to acquire a substantial
private healthcare technology company which will transform
Principal and provide a platform for future growth and
profitability.
ON BEHALF OF THE BOARD
"Jerry Trent"
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Forward-looking
statements:
This press release contains "forward-looking information" and
"forward-looking statements" within the meaning of applicable
securities laws. This information and statements address future
activities, events, plans, developments and projections. All
statements, other than statements of historical fact, constitute
forward-looking statements or forward-looking information. Such
forward-looking information and statements are frequently
identified by words such as "may," "will," "should," "anticipate,"
"plan," "expect," "believe," "estimate," "intend" and similar
terminology, and reflect assumptions, estimates, opinions and
analysis made by management of the Company in light of its
experience, current conditions, expectations of future developments
and other factors which it believes to be reasonable and relevant.
Forward-looking information and statements involve known and
unknown risks and uncertainties that may cause the Company's actual
results, performance and achievements to differ materially from
those expressed or implied by the forward-looking information and
statements and accordingly, undue reliance should not be placed
thereon.
Risks and uncertainties that may cause actual results to vary
include but are not limited to the availability of financing;
fluctuations in commodity prices; changes to and compliance with
applicable laws and regulations, including environmental laws and
obtaining requisite permits; political, economic and other risks;
as well as other risks and uncertainties which are more fully
described in our annual and quarterly Management's Discussion and
Analysis and in other filings made by us with Canadian securities
regulatory authorities and available at www.sedar.com. The Company
disclaims any obligation to update or revise any forward-looking
information or statements except as may be required.
SOURCE Principal Technologies Inc.