Lotus Bio Acquisitions & What It Means For The Co.
Lotus Bio-Technology Development Corps (OTC: $LBTD) new CEO, Christopher Hoyt, commented, “I am excited to get on board and am willing to tackle the challenges to take an unfair share in the digital health and wellness home testing market.” The company announced its Year-to-date revenues and projections for two recently acquired companies on August 2nd. The recently acquired Digital Health and Wellness Home Testing assets helped further the company in the industry. These acquisitions will provide Lotus Bio-tech with immediate access to the rapidly growing Digital Health and Wellness home testing market, joining fast-growing companies like EverlyWell and Color Health.
These two companies are already heavily involved in the health lab and home testing space, and Lotus Bio-tech believes by consolidating resources from both acquired companies, it can rapidly increase its operations, coverage, and volume. Looking forward, Lotus Bio-tech hopes to replicate the success of the two aforementioned digital health and wellness testing giants. Lotus Bio-tech is expected to generate revenues in excess of $100M in the year 2024, while continuing to launch cutting-edge health technologies which will be announced soon. The company is on schedule to produce an upwards of $100 million in revenue by 2024 as they continue to rollout cutting edge medical technology that will soon be announced.
Lotus Bio Latest YTD Earnings
The company’s total year-to-date revenues are $6.3 million, with total revenues for 2021 at a little more than $7 million. Lotus Bio-tech is committed to obtaining a winning team, and looks forward to announcing more board members in the near future. “We are not only sure of our abilities in this space, but we are honored that we will give EverlyWell and Color Health a run for their money” said CEO Christopher Hoyt.
The Acquisition of Boomerang & Focal Point
Lotus recently announced that had fully acquired the parent Focal Point Inc and its subsidiary Boomerang. Lotus Bio-tech plans on combining the two companies. Boomerang is a medical home test kit company that has expanded from heart and diabetes test to Covid-19 home testing company. This new addition to Lotus allows the company to expand its reach in the medical test industry. These acquisitions will provide Lotus Bio-tech with a foothold in the growing digital health and home testing kit market.
Boomerang Kits offers a variety of home test kits from heart and diabetes to Covid-19 which has created a new demand for home test kits since the pandemic started in 2019. The process is simple first, you order a test to be sent to your home based on some metrics such as gender, health. Upon receiving the home test kit you would have to register it online to get a unique ID with the lab system. Then, the company provided a pre-paid shipping label to return it to the lab and then once its received you will be notified of the results. The covid-19 home test kid does not need to be sent back to the lab to receive the results.
Moving Forward For Lotus Bio
Lotus Bio-Technology Development Corp. operations are organizational matters, planning of its website, and development of its business plan. Lotus Biotech Development has formed a solid team for producing and processing
Management is strategizing on branding, marketing, and sales, completing product development, and readying for the completion of production of the Lotus Biotechnology. The company has an extremely easy-to-use online interface, complete with an easy-to-follow four-step process. The company ships kits of at-home tests direct to customers, which allows customers to use supplied materials to make their own samples and send it through the mail using included expedited shipping.