Performance Health Systems and HPN Holdings Execute Letter of Intent to Merge
Northbrook, Illinois–(Newsfile Corp. – February 9, 2024) – Performance Health Systems LLC, the manufacturer and distributor of Power Plate ® and bioDensity®, has executed a Letter of Intent to merge into a wholly owned subsidiary of HPN Holdings, Inc (OTC Pink: KICK). Power Plate is the world’s leader in health, fitness and rehabilitation equipment based on patented vibration technology, while bioDensity® is a patented system to improve bone health and reduce excess blood glucose (as measured by HbA1c).
“Merging with HPN should provide Performance Health Systems the ability to raise the necessary growth capital to meet increasing demand for our products while also providing a vehicle to take advantage of some opportunistic acquisitions” said Lee Hillman, CEO of Performance Health Systems. “The market is demonstrating growing interest and understanding of the profound health and performance benefits Power Plate and bioDensity branded products convey to users of all ages and physical conditions. Whether resulting from the reflex response to our unique PrecisionWave™ vibration technology or natural adaptation to the self-regulating osteogenic loading possible with bioDensity, people are realizing we have the products that represent the next level in improving health and reducing pain to benefit human performance, healthy living and longevity. With over one hundred independent clinical and scientific studies published both in the United States and internationally, becoming a public entity will help us to spotlight the health and medical benefits of our products and allow us to expand access beyond our current base of customers which include many of the professional and college sports teams, health clubs, elite athletes, celebrities and bio-hackers” continued Hillman.
“In addition to our existing portfolio of innovative products, in mid-2024 we plan to formally launch our Power Plate REV®, a revolutionary delivery of Power Plate vibration in an indoor training cycle and our bioDensity Version 5, that is more space-efficient with AI-based robotics to improve the experience for both users and healthcare practitioners alike. We are already seeing strong demand for both products and are excited to bring them to market”.
“We intend to grow both organically and through acquisition and following the merger with HPN Holdings, the ability to use common stock as an alternative currency to enable Performance Health Systems to act on strategic partnerships and acquisitions, grow the company faster and deploy capital to grow new markets and new geographies,” said Michael Balkin, Board Chairman. “Power Plate and our other products have an incredible amount of value outside traditional fitness and elite athletics markets. For example, many studies have shown the benefits of therapeutic exercise and rehabilitation using Power Plate for serious medical conditions, including those related to normal age-related conditions or acute situations such as Parkinsons, Multiple Sclerosis, Post-Chemotherapy Neuropathy and Lymphedema. We intend to directly address these markets as well.”
“HPN Holdings evaluated several merger opportunities and Performance Health Systems is by far the best merger opportunity that we have seen,” said Doug Stukel, CEO of HPN Holdings, Inc. “Performance Health Systems has a very well-respected management team and board of directors. When we had an opportunity to personally evaluate their products, we knew that this was the perfect company to partner with. We were quite impressed with the number of celebrities and influencers that endorse Power Plate without compensation! They are real-life users of these products. Power Plate was recently featured in an influential article in the Wall Street Journal. (Click Here) Most impressive is that Power Plate is integral part of the strength and conditioning programs and training rooms of many of the top professional sports teams in the United States and around the world.”
HPN has engaged Regiment Securities, a registered Broker-Dealer, as an advisor on this project.
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About Performance Health Systems
Performance Health Systems LLC, headquartered in Northbrook, Ill., specializes in delivering advanced technology solutions through its health and wellness equipment. Its category-defining Power Plate product portfolio applies innovative science and technology to enhance movement through vibration for accelerated health, fitness, and well-being results to improve quality of life at any age. Additionally, the company manufactures and distributes bioDensity, an osteogenic loading system that studies show builds strength, increases bone density, improves functional movement, reduces cardio risk and improves Type 2 diabetes.
For Performance Health Systems Investor Relations inquiries please contact David Ross, CFO by email (david.ross@powerplate.com).
About HPN Holdings, Inc.
HPN Holdings Inc. is an OTC Markets company trading under the symbol KICK. Its mission is to acquire premier operating companies.
For HPN Holdings, Inc. Investor Relations inquiries please contact Kaitlin Profita at kaitlin.profita@gmail.com.
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This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including: general economic business conditions, competitive and technological factors, markets, services, products and prices, availability and the cost of capital, success of growth initiatives, limited operating history and other factors discussed in our filings with the Securities and Exchange Commissions. Additionally, this release may not be considered as legal, accounting, or investment advice, and is not, and may not be considered, a solicitation for the purchase of any securities issued by HPN Holdings, Inc.
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