LOS ANGELES, CA, Oct. 04, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – WPF Holdings, Inc. (OTC PINK:  WPFH), announces that it has signed a definitive agreement to acquire Virtual Health Holdings, Inc. (VHHI) a Florida corporation which is the parent holding company of the CareClix™ group of telemedicine companies. The acquisition will be a stock for stock exchange and WPFH will issue 6 million unregistered common shares for all of the outstanding common shares of VHHI. In addition to the stock consideration, WPFH has committed to providing working capital monthly for the CareClix companies over the next nine months, commencing at closing. An additional 4 million shares of WPFH may be issued as part of the acquisition of control from the former control block owner if certain performance standards are met over the next two years. Closing is expected by October 15, 2023.

CareClix Anywhere™ is a full spectrum virtual healthcare product, designed by doctors for doctors, for individuals to address their diverse healthcare needs. It is a product that addresses episodic issues, as well as comorbidities and co- conditional needs of the individual. The CareClix companies have gained momentum internationally through a unique international sales force and strategic relationships. CareClix also utilizes an internal sales team, an independent sales team and distribution channels such as system integrators, healthcare providers, IT companies, and benefits administrators, to reach a growing number of countries and all 50 US states. For over 10 years, VHHI has been operating and is currently in all US states and 37 other countries, providing virtual medicine services to people of all cultures, races, and genders. CareClix medical services are trusted by Fortune 500 companies and their employees as well as sole healthcare providers.

According to Charles O. Scott, VHHI’s CEO, “Our CareClix group of companies have a proven record within the global growth of virtual healthcare delivery. The companies are currently uniquely positioned to deliver high quality medical services worldwide by simply leveraging the technological and operational infrastructure we have developed over the past decade. CareClix's dedicated core team has the knowledge and many years of experience in delivering high quality health care on a continuum of services patients require to satisfy their healthcare and wellness needs. Joining forces with the Vezbi Super App at this time particularly, is an ideal step. WPFH's commitment to assure adequate funding coupled with access to their exceptional management and marketing talent exponentially raises the CareClix group of companies' success potential across all current verticals, but especially the direct to consumer virtual healthcare market. This is currently an explosive market that several mega US on-line and big-box retailers have recently entered, according to news reports. I am confident the synergies and broad support WPHF brings to CareClix can result in many new; satisfied customers, which translates into growth of shareholder value.”