Intelligent Living Inc. (OTCQB: ILIV) stated today that it created a new subsidiary company called Provectus and, in doing so, has merged the assets of both Venturian Group of Miami and Perfect Solutions of Northfield, NJ into the subsidiary to create a robust, full service Managed IT and Private Cloud services company with current revenues of $2.2 million. This new subsidiary will bring revenue and operational efficiency to Intelligent Living, which will be demonstrated on the balance sheet over the next few years.
Intelligent Living Inc. Chief Strategy Officer Josh Eikov said, "We made the decision to become an infrastructure company to both the medical and marijuana industries which are completely burgeoning markets that represent a global opportunity approaching $60 billion by the end of the decade. In our market research we realized that someone needed to build the roads, bridges and tunnels for all of this business activity to be conducted on and so, the birth of Provectus: Managed IT and Cloud Services."
Provectus, which is Latin for Advanced, offers IT Managed Care to small, medium and enterprise level clients throughout the United States, Canada and the Caribbean. The company will focus on healthcare and related practices but will offer its products and services to the business community at large. The enterprise group will be known as Venturian Management and will handle all clients with revenues in excess of $10 million or 500 users, whereas the small business group will be known as Perfect Solutions and will handle all clients $10 million and under. Once the integration of both companies is complete, Provectus will service over 200 clients with average annual contract sizes of $10,000 per client.
Allen Firouz, CEO of Venturian and new CTO of Provectus, said, "We are very excited to join with Perfect Solutions and become Provectus as part of the Intelligent Living family where we will continue to deliver customer focused, managed IT and technology solutions that position the new entity as a market leader. Our new team members in NJ are very talented IT professionals and we are looking forward to getting acclimated and integrated with them in Provectus. Together, we now offer end-to-end IT solutions for a myriad of industries, inclusive of medicine, and coverage throughout the entire United States.
Venturian is one of the leading providers of IT solutions architecture and private cloud computing in the Southeast. Being of the customer-centric business school of thought, the founders of Venturian, in building the organization, focused on the basic principles of taking the fear out of IT and making IT business needs available to any business, regardless of size and capitalization. With more than two decades of experience, they work hand-in-hand with companies of every size to achieve unsurpassed results in every aspect of their IT initiatives. Venturian, with a strong focus on high availability, scalability and security, delivers tailored private cloud solutions to meet their clients demanding business environment needs.
According to a new market report published by Transparency Market Research, Cloud Computing Market In Healthcare Industry (IaaS, SaaS, PaaS, CIS, NCIS, PACS, EMR, RIS) - Global Industry Analysis, Size, Share, Trends and Forecast, 2012 - 2018, "the global cloud computing market in the healthcare industry was valued at USD $1.82 billion in 2011 and is expected to reach USD $6.79 billion by 2018, growing at a CAGR of 21.3% from 2012 to 2018."
"With Intelligent Living's vision and portfolio of internet and mobile assets, ILIV is now in an advantageous position as one of the few companies in business today with multiple streams of revenue and diverse efficiency opportunities under one global organization. Adding both IT acquisitions to our new Provectus subsidiary will help enable more robust and competitive product offerings and solutions going forward while expanding our market presence within the eHealth and Wellness markets. We are very positive on revenue growth and profitability system wide," Victoria Rudman, CEO of Intelligent Living Inc. said.
Headquartered in Northfield, New Jersey, Perfect Solutions provides services to a wide variety of industries throughout the U.S., including financial, legal, medical, non-profit, real estate, advertising, and many more. Their unsurpassed commitment to quality and client satisfaction has earned them a high client retention rate and a year-over-year annual growth rate averaging 50% since their inception. Perfect Solutions participates in the top 20 markets in the Northeast and has built a solid reputation as a trusted business advisor.
"This acquisition significantly expands our presence in the global marketplace. More importantly, it expands our service network, allowing us to offer service solutions to clients operating in geographies where we had no reach. They can now look at us as a single source solution for management, cloud services and data provisioning amongst other things. We are excited about the possibilities of Provectus and working with Allen and his team, as well as Josh and his team at Intelligent Living," said Stephen Vogt, CEO of Perfect Solutions and new President of the Intelligent Living subsidiary, Provectus.
ILIV and Provectus also announced today that Josh Eikov, Chief Strategy Officer of Intelligent Living, was named Chief Executive of the newly formed subsidiary.
"Provectus, now in place, acts as the technology base for all of Intelligent Living's activities. In following our roadmap and with the majority of ILIV's businesses being either eCommerce or web\software based, the addition of hosting and management is a natural choice. With two offices that give coverage to over 20 major metropolitan areas on the East Coast and expansion planned to the West Coast, we have giant opportunity to become one of the dominant players in the IT infrastructure and cloud management industry. I am most enthusiastic to be working side by side with such world-class managers and teams like the ones we have acquired in teams Perfect Solutions and Venturian. With the merger of these two superb IT teams and a starting base of $2.2M in current revenue, Intelligent Living, through the Provectus subsidiary, now has the very real capacity necessary to build something very meaningful. Intelligent Living, designed as a company that produces platform businesses, is now ready to create the platforms of the future," Josh Eikov, Chief Strategy Officer of Intelligent Living and CEO of Provectus LLC said.
About Intelligent Living Inc.:
Intelligent Living Inc., based in Florida, is a health and wellness holding company that specializes in the acquisition and integration of Internet and web technologies, hosting and cloud based infrastructure services, eCommerce, and nutraceutical based products. We provide nutraceutical products, wellness products and services, and create mobile and digital health apps, cognitive exercise and brain games as well as platforms for emerging demand markets and other value creation opportunities all relating to our core values. Some of our brands include: MIND360, DRLARRYDIRECT, SOCIAL420 and Provectus IT.
The mission of Intelligent Living is to build the Digital Health and Wellness Company of the 21st Century. Within this mission we consider mind, body, soul and a person's digital life to be all connected in our value chain and offer products and services that will take care of the whole mind/body ecosystem and thereby improve a person's quality and function of daily living over a span of many years.
More information about Intelligent Living Inc. can be found on the Company's website located at http://www.intelligentlivinginc.com
Forward Looking Statements
This press release includes statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act") and as such, may involve risks and uncertainties. Intelligent Living Inc. claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act. These forward-looking statements are often characterized by the terms "may," "believes," "projects," "expects," or "anticipates," and do not reflect historical facts. Specific forward-looking statements contained in this press release include, but are not limited to: our successful integration of diversified growth companies, impact of the company's expansion plan, and new business development success, future financial results, development and acquisition of new product lines and services, the impact of competitive products or pricing from technological changes, the effect of economic conditions and other uncertainties. The company's actual performance, results and achievements may differ materially from the expressed or implied in such forward-looking statements as a result of a wide range of factors.
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SOURCE: Intelligent Living Inc.
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