Wellness Center USA signs agreement to acquire Psoria-Shield

August 1, 2012

Wellness Center USA, a healthcare and nutraceutical company, has announced the signing of a share exchange agreement to acquire Psoria-Shield, a developer and manufacturer of ultraviolet (UV) phototherapy devices for the treatment of various skin diseases.

Wellness Center USA, a healthcare and nutraceutical company, has announced the signing of a share exchange agreement to acquire Psoria-Shield, a developer and manufacturer of ultraviolet (UV) phototherapy devices for the treatment of various skin diseases.

Psoria-Shield's patent-pending "Psoria-Light," cleared by the Food and Drug Administration, is a deep UV LED "targeted phototherapy" device to treat psoriasis, eczema, alopecia areata, vitiligo and other ultraviolet-treatable skin diseases, the company states.

"The Psoria-Shield acquisition creates shareholder value through sales revenue potential as well as new product development to our company's pending cognitive neuroscience acquisition, CNS-Wellness. With CNS and now Psoria-Shield, the door is wide open for us to align Wellness Center USA with other innovative healthcare solutions that reinforce our 'well-being of mind and body' strategy," said Andrew Kandalepas, chairman and CEO of Wellness Center USA.

Said Scot Johnson, president and CEO of Psoria-Shield, "We are pleased to join Wellness Center USA in its quest to improve patients' quality of life through research and innovative technologies. This acquisition will increase value for our shareholders, create greater exposure for our products, and harness our design and manufacturing abilities for multiple projects.”