Healthtech Solutions, Inc. (HLTT), Parent Company of Medi-Scan Inc., Announces Incorporation of a New Subsidiary Called RevHeart, Inc.
- New subsidiary will further the Company’s research into treating COVID-related heart muscle injury.
- A patent has been filed for a therapy to ameliorate and potentially repair myocardial damage.
NEW YORK, March 16, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- Healthtech Solutions, Inc. (OTC: HLTT) (the “Company”), parent company of Medi-Scan, Inc., today announces the incorporation of a new subsidiary called RevHeart, Inc. The new subsidiary will conduct further research into finding a treatment for COVID-related heart muscle injury.
RevHeart’s research team is developing the ability to identify and track myocardial deformities to enable implementation of a therapy to ameliorate and potentially repair myocardial damage, which directly supports the Company’s ongoing efforts to develop a treatment for COVID-related heart muscle injury. Based on positive results to date, RevHeart has filed a provisional patent application with the U.S. Patent and Trademark Office titled, "System, Method and Apparatus for Stimulating Cardiac Muscle Injury Recovery."
RevHeart will carry on this research and development program with a goal of developing a combination therapy as a method of treatment for the detected myocardial injury. This includes a combination of stem cell therapy and electromagnetic field therapy, known as "Entrainment." Entrainment works by linking the patient’s abnormal heart rhythm together with a normal heart rhythm and gently encouraging the damaged heart rhythm to revert to a more normal rhythm.
Healthtech Solutions, Inc. (the “Company”) is a reporting public company. The Company had no business operations since April 25, 2015. On November 16, 2020, the Company acquired all of the capital stock of Medi-Scan Inc. in exchange for Series A Preferred Stock representing 97% of the equity in Healthtech Solutions (the "Share Exchange").
As a result of the Share Exchange, the Medi-Scan shareholders become the majority shareholders and have control of Healthtech Solutions. The acquisition of Medi-Scan was accounted for as a reverse merger effected by a share exchange.
The merger gives the Company potential access to capital in the public market. We intend to implement a three-prong business plan aimed at:
- The creation and commercialization of cloud-based software for ultrasound scans, which delivers to a medical professional, at the point of patient care, data-driven quantifiable images. Imaging solutions will be carried out under the subsidiary, Medi-Scan;
- The development of cutting-edge medical therapies for the treatment of disease or injury, such as damage resulting from COVID-19 infection. The first of these opportunities is being developed under our RevHeart, Inc. subsidiary; and
- The acquisition or strategic investments in the medical, diagnostic or therapeutic opportunities of the healthcare industry.
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Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements, which involve assumptions and describe the Company’s future plans, strategies and expectations, are generally identifiable by use of the words “may,” “should,” “would,” “will,” “could,” “scheduled,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “seek” or “project” or the negative of these words or other variations on these words or comparable terminology. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances, and may not be realized because they are based upon the Company's current projections, plans, objectives, beliefs, expectations, estimates, and assumptions, and are subject to several risks and uncertainties and other influences, over many of which the Company has no control. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. These and other factors are identified and described in more detail in the Company's filings with the SEC. The Company does not undertake to update these forward-looking statements.
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