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True Nature establishes Dublin-based Mitesco as holding company for European acquisitions

True Nature Holding is forming a new Irish corporate entity, Mitesco PLC, to act as a holding company for its European based acquisitions. 

The new name, which is Latin for “progress”, reflects the company’s strategy of acquiring healthcare technology solutions companies, generally, those that are early stage, but past proof of concept, and with revenues in the USD2 million to USD20 million range. It expects that the new operations will progress: by growing their market presence geographically in new markets, including the North American markets. The new entity will be based in Dublin, Ireland.

Separately, it announced that it has retained Matheson, the law firm headquartered in Dublin, Ireland as its counsel and advisor on its European acquisitions and equity fundraising activities. The Company, whose stock currently trades in the U.S. on the OTC QB Marketplace, has opened conversations regarding a possible listing, or dual listing, on European exchanges and it has named Matheson to be its intermediary in those conversations, and concerning fundraising in the European finance community.

“We see a wealth of opportunities in the European marketplace. Several nations have provided funding and guidance to entrepreneurs in their countries who have a passion for improving both the quality and efficiency of healthcare. We think these innovative applications can grow worldwide with some marketing and capital investment,” says Larry Diamond, CEO of True Nature.

Julie Smith, the recently named President and COO, says: “We see the chance to change the world of healthcare, to make significant progress toward the empowerment of the individual in directing their health, with information that can be readily shared with the healthcare professionals that they need, and want. The idea that the relationships between the provider and user of healthcare services can be re-established in the way it existed in prior generations, is real progress. We want all to know that “progress” in our theme, and the new name, “Mitesco” allows us to carry that theme from the Latin translation, forward into the future.”

Diamond says: “We see this new holding company for European activities as a fundamental building block for the future of the Company. Beyond acquisitions, there are excellent technology development resources in Ireland and good access to other nations where we desire to develop business. Past the acquisition and operations plans, we see the equity markets in Europe as providing real potential for the growth capital we will need to expand the targets we have and to realise the monetisation of the operations. Matheson is the law firm of choice for internationally focused companies and financial institutions doing business in and from Ireland and has market-leading practice areas in corporate transactions, equity market fundraisings, and other financings, and within the healthcare market serving the entire European community. It’s a perfect fit.”

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