Vancouver, British Columbia--(Newsfile Corp. - June 18, 2024) - InvestmentPirch Media video features Xcelerate, Inc. (OTCQB: XCRT), a holding company that is unique in that it was designed from inception to span the divide between initial non-medical engineering advancements and apply them to the medical, health and wellness sectors.
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In early 2022, it acquired a controlling interest in AfyaSasa Africa, a start-up medical technology and virtual health company. The ASA system is accessed by patients on their cell phones, tablets or computers, allowing licensed physicians and other medical personnel to conduct initial check-in, triage, and to virtually determine the appropriate care path.
This technology is centered around patented and patent pending software that uses and incorporated artificial intelligence and augmented reality, licensed from AdviNOW. The two companies have executed exclusive rights agreements for 10 initial priority markets across Africa including Tanzania, Kenya, Ethiopia, Uganda, Malawi, Zambia, Ghana, Zimbabwe, Botswana, South Africa and Egypt, representing a total catchment of 1 billion people.
In July 2023, the company acquired a 51% interest in the ESN Group and California Skin Research, which included a range of innovative skincare products, primarily the Ceramedx and Earth Science Naturals product lines. Ceramedx is a line of plant-based, cruelty-free skincare products designed to cater to consumers with diagnosed skin conditions such as atopic dermatitis, eczema and psoriasis. Earth Science Naturals products, which emphasize natural ingredients and ethical production, include facial cleansers, moisturizers, and anti-aging solutions.
In April, ESN Group went live with the first of its Ceramedx® product offerings on the Army & Air Force Exchange Service online store, (www.shopmyexchange.com), which offers tax-free, discounted, online shopping to more than 20 million active and retired US Army and Air Force members and their families. According to Econ Market Research, the global skincare market was valued at US$154.4 billion in 2023 and is estimated to reach approximately US$262.5 billion by 2032, a CAGR of 6%.
Harbinger Research has initiated coverage on Xcelerate with a strong buy recommendation and a 12-month price target of $0.081, a potential return of 189% over the $0.028 price on June 4, the date the report was issued.
Brian Connell, CFA, Senior Research Analyst, stated: "Xcelerate employs a strategic approach to acquisitions, typically targeting a majority stake of 51% in the companies it acquires. These companies typically possess innovative technologies or products applicable to the healthcare sector. This strategy enables the company to capitalize on the acquired business' existing market presence and operational capabilities, while also leveraging its technologies and innovations to enhance product offerings across all its operations and subsidiaries. We believe that all risk tolerant investors should give serious consideration to becoming shareholders of the company."
The shares are currently trading at $0.023. For more information on the company's other business units, please visit the company's website, www.xcelerate.global, contact Michael O'Shea, Founder and CEO, at 864-228-2222, or by email at mike@xcelerate.global.
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