Posted on 26. Nov, 2013 by DDonlin
WESTPORT, Conn., Nov. 25, 2013 /PRNewswire/ — TriStar Wellness Solutions®, Inc. (OTCQB: TWSI), a health and wellness company that targets opportunities in the self-care and professional marketplace, and its wholly owned subsidiary HemCon Medical Technologies, Inc., has concluded a credit facility agreement with Sussex Associates LP. The facility provides TriStar and HemCon with access to $1,000,000 in working capital. Sussex Associates LP is a Texas-based private equity firm whose goal is to provide investment in and working capital for high-quality growth companies in the areas of health and wellness, energy, and software.
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TriStar and HemCon intend to employ the funds to continue the expansion in marketing operations and product development across all divisions. The combined companies’ offices and operations now include locations in Westport, CT, Portland, OR, Dublin, Ireland and the Czech Republic. The current strategy, to both acquire and organically develop healthcare products in wound care, women’s health and skin care, requires the working capital financial resources supplied by this credit facility. Increasing working capital is a key objective at this time to implement the companies’ strategies.
“This financial credit facility provided from an outside investment firm is an important milestone towards achieving our corporate objective to continue building our company with increasing marketplace activities,” said John Linderman, CEO of TriStar Wellness Solutions. “Furthermore, during this past year TriStar has made major commercial strides with our acquisition of HemCon and its foreign subsidiaries. HemCon designs and manufactures hemostatic bandages and dressings used by the military, hospitals, dental, and emergency medical services professionals globally to control bleeding. In addition we have also launched our Beaute de Maman product line which consists of beauty and wellness products for pregnant and nursing women.”
About TriStar Wellness Solutions
TriStar Wellness Solutions®, Inc. (TWSI) is a health and wellness company that targets under-met consumer opportunities in the OTC and professional marketplace. Its core strategy plans to meet the growing demand for personalized care solutions by leveraging proprietary innovation and healthcare technology with the rapid transformation of the healthcare marketplace to create innovative, science-based solutions and brands. TriStar recently acquired HemCon Medical Technologies Inc., a developer, manufacturer, and marketer of innovative technologies for hemostatic devices for the control of bleeding resulting from trauma or surgery. It also owns the Beaute de Maman™ brand of women’s health products. Additional information is available at www.tstarwellness.com, www.hemcon.com and www.beautedemaman.com. Information regarding HemCon’s extensive network of U.S. and International Distributors can be found at www.hemcon.com/DistributionSales.aspx.
This press release for TriStar Wellness Solutions®, Inc. contains forward-looking statements. Generally, you can identify these statements because they use words like “anticipates,” “believes,” “expects,” “future,” “intends,” “plans,” and similar terms. These statements reflect only our current expectations. Although we do not make forward-looking statements unless we believe we have a reasonable basis for doing so, we cannot guarantee their accuracy and actual results may differ materially from those we anticipated due to a number of uncertainties, many of which are unforeseen, including, among others, the risks we face as described our filings with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which apply only as of the date of this press release. To the extent that such statements are not recitations of historical fact, such statements constitute forward-looking statements that, by definition, involve risks and uncertainties. In any forward-looking statement where we express an expectation or belief as to future results or events, such expectation or belief is expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the statement of expectation of belief will be accomplished.