SAN DIEGO--(BUSINESS WIRE)--Dalrada Financial Corporation (OTCQB: DFCO, "Dalrada"), a problem-solving innovator that takes on complex, multi-disciplinary challenges in health care, clean energy, precision manufacturing, and technology, today announced a new operating structure in response to accelerated company growth and a renewal to its corporate vision. At the heart of this new operating model is a change of the company's health division name from Dalrada Health to Genefic.
In the 2022 fiscal year, Dalrada Health experienced strong revenue growth of $13.6 million, representing a 683% year-over-year increase. This growth reflects the demonstrated demand within today's health environment for core, frontline health products and services - including robust virus and disease-screening capabilities, pharmaceutical goods, and holistic wellness clinics.
Under the new operating structure, Genefic (formerly Dalrada Health) will be separated from the other wholly-owned subsidiaries of Dalrada: Dalrada Energy Services, Dalrada Technologies, and Dalrada Precision Manufacturing. This will allow for anticipated growth in each respective sector. Further, it will allow each individual sector to focus on product and technology development, while simultaneously ensuring Genefic can concentrate its efforts solely on the healthcare market. Genefic will continue to be 100% owned by DFCO, with financial reporting to remain unchanged.
"I am pleased to announce a new operating model to prepare and support the exponential growth of Dalrada Health," said Brian Bonar, Dalrada's Founder and Chief Executive Officer. "At this time, Dalrada Health will assume the name 'Genefic.' Additional changes will include a new board structure, an appointment of a Chief Executive Officer and Chief Operating Officer (both of which are expected to be made from the existing management pool), a new operating location, and a new website. All of these changes are specifically designed to support the new company in its mission, goals, and services."
Mr. Bonar continued, "Genefic will focus on improving health outcomes for people around the world through reimagined patient care. This will be achieved by employing the latest technological advances and redesigning current staffing and health care work models, among others."
For additional information on Dalrada and its subsidiaries, please visit www.dalrada.com.
About Dalrada Financial Corporation
Dalrada Financial Corporation (OTCQB: DFCO) is a forward-facing organization that continually produces disruptive products and services that accelerate positive change for current and future generations.
Since 1982, Dalrada has redefined possibilities while boldly addressing global challenges with transformative innovations that drive targeted advances in emerging markets for a new era of human behavior and interaction, ensuring a bright future for the world around us.
Dalrada Financial Corporation is committed to positively impacting people, businesses, and the planet through sustainable solutions. For more information, please visit www.dalrada.com, and follow us on Twitter, Facebook, and LinkedIn.
About Genefic
With a dedicated commitment to health and wellness and improved patient care, Genefic delivers with bold ingenuity. Genefic creates key products and services and builds comprehensive solutions that provide better outcomes through reimagined health care systems. From virus and disease screening capabilities to pharmaceutical goods and holistic wellness clinics, Genefic creates health innovations that make positive impacts around the world. To learn more, visit www.genefic.com.
Disclaimer
Statements in this press release are not historical facts. The statements are forward-looking, including statements regarding future revenues and sales projections, plans for future financing, the ability to meet operational milestones, marketing arrangements and plans, and shipments to and regulatory approvals in international markets. Such statements reflect management's current views, are based on certain assumptions, and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors and will be dependent upon a variety of factors including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations regarding these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the US Securities and Exchange Commission ("SEC"), including its annual report on Form 10-K.
Contacts
Michael Eslinger (meslinger@dalrada.com)
