LITTLE RIVER, S.C.--(BUSINESS WIRE)--PCT LTD (OTC Pink: PCTL) ("PCTL"), as the result of its wholly owned operating company’s (PCT Corp.’s) growth, is pleased to announce a new distribution partner in Puerto Rico in addition to other ongoing expansion efforts.
ABC Medical of San Juan, Puerto Rico (www.abcmedicalpr.com) has signed on to be a distributor and sub-registrant for PCT Corp. in Puerto Rico. Through a sub-registration licensing agreement, which includes royalty revenues to PCT Corp., ABC Medical will initially receive one large volume Hydrolyte® System for the purpose of producing, bottling, and distributing Hydrolyte® solution to their existing hospital and healthcare clients. The move signals the company’s first distribution agreement in an area outside the continental United States.
“We’re excited to be able to expand into Puerto Rico,” says Gary Grieco, CEO of PCT LTD. “Expanding into this market is good business for us and for ABC Medical, especially during this critical time when health and hygiene are at the forefront of people’s minds,” Grieco further commented.
According to the Puerto Rico Hospital Association, Puerto Rico has a total of 63 hospitals managed by private and public sectors. The largest concentration of hospitals is in the San Juan metropolitan region (where ABC Medical is located) with a total of 26 hospitals (10 public hospitals and 16 private).
As a result of increased demand, an existing customer, BioBlasting LLC of Egg Harbor Township, New Jersey (www.bioblasting.com) has also purchased two of PCT Corp.’s large-volume Hydrolyte® generators.
“Our company has been growing exponentially over the past 2 years as our clients have discovered the benefits of our fluid solutions, which offer a high level of safety for both staff members and the general public,” says BioBlasting CEO, Arthur Handson. “In light of the recent outbreak, our team has been working around the clock to ensure our products are accessible to all people and industries, particularly schools. Our goal is to minimize the effects of infectious disease outbreak by implementing proper preventive measures as well as assisting with eradication procedures as needed.”
“We’ve had a great relationship with BioBlasting for over two years,” says PCT LTD CEO, Gary Grieco. “As an existing sub-registrant, they have seen firsthand the safety and efficacy of our product. We’re happy to take this next step with them and excited to support them in their growth and efforts to serve their customers and communities.”
As a result of heightened demand, PCT Corp. is expediting plans to increase its distribution networks. “With everything going on in the world today, our demand has increased by leaps and bounds” says PCT Corp. President, Bill Prince. “Adding key distributors to our network will allow us to strengthen sales channels and accelerate revenue growth while at the same time providing a much-needed product and service during these critical times. We will strategically add additional distributors and “partners,” both In the United States and abroad. This will allow us to keep up with the strong need for our products.”
The company also received a prestigious award as a Top Innovation of the Year for 2019 from The Infection Prevention Strategy (TIPS) https://infectioncontrol.tips/2019/07/26/top-of-the-year-2019/
The Infection Prevention Strategy (TIPS) is a not for profit that exists to advance innovations, ideas, and processes that make a difference in global health. TIPS extends to 30+ countries and is the key strategic partner for many notable organizations, initiatives, and events. As a result of heightened awareness from being a Top Innovation recipient, the company has and continues to actively engage in discussions with potential partners and distributors to aid in their strategic expansion. Those conversations are ongoing.
Additionally, the efficacy and efficiency studies of PCT Corp.’s Annihilyzer® Infection Control System, deployed in the United Kingdom, are slated to conclude soon. Upon completion, comprehensive results are expected within 2-4 weeks.
To further explain PCT LTD’s current activities and opportunities, CEO Gary Grieco will be appearing on the Stock Day Podcast to be aired during the week of March 16th. Grieco had previously appeared on the show earlier this year to discuss the company’s international expansion and growth strategy for 2020.
About PCT LTD:
PCT LTD ("PCTL") focuses its business on acquiring, developing and providing sustainable, environmentally safe disinfecting, cleaning and tracking technologies. The company acquires and holds rights to innovative products and technologies, which are commercialized through its wholly-owned operating subsidiary, Paradigm Convergence Technologies Corporation (PCT Corp). Currently trading on OTC, "PCTL" aspires to and is actively engaged in preparations for up-listing its common stock to a national securities exchange. The Company established entry into its target markets with commercially viable products in the United States and now continues to gain market share in the U.S. and U.K.
This press release contains "forward-looking statements" as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21B of the Securities Exchange Act of 1934, as amended. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."
Such statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Such statements involve risks and uncertainties, including but not limited to: the success of its new distributors; the results of testing in the U.K; PCTL's and its subsidiary's business prospects; PCTL's ability to raise sufficient funds to satisfy its working capital requirements; the ability of PCTL to execute its business plan; any other effects resulting from the information disclosed above; risks and effects of legal and administrative proceedings and government regulation; future financial and operational results; competition; general economic conditions; and the ability to manage and continue growth. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Important factors that could cause actual results to differ materially from the forward-looking statements PCTL makes in this press release include market conditions and those set forth in reports or documents it files from time to time with the SEC. PCTL undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.