ARCpoint Expands Strategy Through Sale of Non-Core Asset

ARCpoint Engages in Strategic Asset Sale

ARCpoint Inc. (TSXV: ARC) is making strides in optimizing its operations by entering into a significant agreement for the sale of its 68% ownership interest in Achieve Behavioral Health Greenville LLC. The total proceeds from this transaction amount to US$480,000, which after deductions for net amounts owed, will result in a cash inflow of US$360,000 for the company.

Understanding the Transaction Details

Achieve operates drug and alcohol addiction treatment services under the Vertical Treatment Centers brand. The choice to divest this portion reflects ARCpoint's commitment to streamline its operations while contributing to its capital for future growth. John Constantine, President and CEO of ARCpoint, emphasized the importance of this transaction by stating, "The sale of this non-core asset allows us to direct our capital towards technology integration, which is essential for onboarding more franchisee locations onto our MyARCpointLabs platform."

The Broader Context of ARCpoint's Operations

Just recently, ARCpoint was part of a significant joint venture initiated with Any Lab Test Now (ALTN). This collaboration aims to unify the franchise operations of both entities under a new banner, CRESSO Brands LLC. ALTN, a well-established franchise with a rich history since its inception in 1992, has over 235 locations across the United States, providing a variety of essential health-related services.

The creation of CRESSO Brands marks a milestone in the health services franchise sector, as the newly formed entity becomes the largest network of its kind. This integration not only enhances the breadth of services offered but also positions both ARCpoint and ALTN for expansive growth and innovation in healthcare delivery.

Significance of the Sale to ARCpoint's Future

The decision to sell its stake in Achieve is a calculated move within the framework of ARCpoint’s operational strategy. It underlines a shift towards focusing their resources on more profitable and strategically aligned areas, particularly technology. The MyARCpointLabs platform has already proven beneficial, and expanding its reach to more locations will allow for improved service delivery to customers.

About ARCpoint Inc.

ARCpoint Inc. is a forward-thinking healthcare company based in the United States, committed to leveraging technology and physical locations to provide access to healthcare services. The organization focuses on delivering transparent pricing and solutions aimed at empowering consumers to take charge of their health and well-being.

This strategic asset sale, alongside the formation of CRESSO Brands, positions ARCpoint for a proactive approach in the evolving healthcare landscape, enhancing its capabilities and reach in delivering essential services to communities.

For Further Inquiries

Those interested in more information can contact the following:

ARCpoint Inc.
Jason Tong, Chief Financial Officer
Phone: (604) 889-7827
Email: invest@arcpointlabs.com

Frequently Asked Questions

What is the significance of the recent transaction by ARCpoint?

The sale of the 68% interest in Achieve allows ARCpoint to streamline operations and focus on technology integration for their MyARCpointLabs platform.

What services does Achieve Behavioral Health provide?

Achieve provides drug and alcohol addiction treatment services through its brand, Vertical Treatment Centers, focusing on helping individuals through recovery.

How does this sale affect ARCpoint's future?

This strategic sale is expected to provide ARCpoint with necessary working capital to enhance its technology and service offerings within the healthcare sector.

What was the rationale behind forming CRESSO Brands?

The creation of CRESSO Brands through a joint venture with ALTN aims to consolidate franchise operations, expanding services and market reach for both companies in the health testing space.

How can interested parties contact ARCpoint for more information?

Interested parties can reach out to Jason Tong, Chief Financial Officer at ARCpoint, via phone at (604) 889-7827 or email at invest@arcpointlabs.com.

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