GREY:CVHIF - Post by User
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Sdmsdmon May 26, 2016 9:39am
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NEWS
NEWSConvalo Health International Announces Launch of Fifth Facility in Four Months; Expands Service Offerings to Include Mental Health Services in Existing Locations Debuts Plan for Adolescent Residential Treatment and Education Centers; Announces Warrantholder Meeting NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES LOS ANGELES, CALIFORNIA--(Marketwire – May 26th, 2016) – Convalo Health International, Corp. (“Convalo”) (TSXV:CXV), a company in the addiction recovery industry in the US, announced it has launched its fifth facility in just four months: a detox and residential treatment facility in Los Angeles, California. The company also announced it has expanded its services to include mental health dual diagnosis treatment across its facilities. Convalo additionally announced a plan to develop a series of adolescent residential treatment and educations centers, along with proposed issuance of a warrant exchange pursuant to a Warrantholder Meeting. Launch of Fifth Facility in Four Months - Additional Detox and Residential Facility in Los Angeles Opening in June The unique BLVD branded facility opening in June is located in the heart of a city center. Unlike many competing detox and residential facilities, the BLVD branded facility is located in the center of Hollywood. Featuring luxurious and modern amenities, the facility features the experience that differentiates the BLVD brand. With the addition of a truly urban treatment setting, Convalo increases the variety of experiences a client can choose from to enhance their recovery. With its formal opening in early June, the BLVD detox and residential center will immediately increase Convalo’s detox and residential capacity as well as the Los Angeles area revenue potential. The Los Angeles facility is expected to generate between $6 million and $8 million in additional annual revenue once fully ramped.(1) The recently announced Corona facility will further increase capacity and revenue potential in the greater Los Angeles area. Between the Corona and Hollywood locations, Convalo is expanding its Los Angeles area detox and residential revenue potential by $9 million to $12 million annually. (1)