SETO Enters Medical Marijuana Markets
Hanover, Maryland, January 10, 2018 (Newswire.com) - SETO Holdings, Inc. (OTC/Pink: SETO) announces today that Seto’s subsidiary has entered the CANNABIS sector, specifically the $US15 billion MEDICAL MARIJUANA sector, constituting a major expansion within Seto’s Health Division.
The potential therapeutic uses of cannabinoids are numerous, e.g. Glaucoma, Obesity, Anorexia, Emesis, Pain management, Multiple Sclerosis, Neuroprotection, Inflammation, Parkinson’s disease, Huntington's disease, Tourette’s syndrome, Alzheimer's disease, Epilepsy, Bipolar disorder, Schizophrenia, Post-traumatic stress disorder (PTSD), Depression, Anxiety, Insomnia, among others. (Source: NIH).
This sector is a high growth area (medical cannabis space is experiencing exponential growth). With a robust expansion of Seto’s Health Division, within a high growth sector of the cannabis health economy, Seto plans to execute Hydroponic farming techniques for the development of cannabis farming and for the development of products derived from medical marijuana cultivation, all the while striving for high yields and environmentally friendly production.
Seto also plans to implement financial technology solutions for the rapidly expanding, multi-billion-dollar cannabis sector, enabling Seto to offer solutions to the underserved businesses in the cannabis sector.
Company President Sanjay Srivastava commented that, “More and more people are accepting of the benefits of cannabis and over time, the stigma among the U.S. population is diminishing.” Further stating, “We have laid out a detailed plan which we believe will position the company to drive high growth and revenue as SETO expands its health business in the U.S. throughout 2018 and beyond.” Additionally, he said, “We continue to have great confidence with respect to Audiology, and the additional health care specialties we are making an investment in.”
Sanjay Srivastava was also quoted saying, “We are very optimistic about expansion into the cannabis sector of medical treatments. We expect top line sales to grow as a result and are positioned well for the long-term in the health sector.”
Seto currently operates Audiology and other medical clinics in the Mid-Atlantic Region. In an effort to expand its healthcare offering in the U.S. North-East, SETO acquired 2 ENT practices (News Release: October 2017)
AHG – Advanced Hearing Group is Seto’s flagship hearing aid company. The overall goal is to expand the hearing aid sector to 200 clinics in the United States.
New clinics (sites, inclusive of satellites) take approximately 2 years to mature and add revenues of up to 400k to 700k each. The average will differ. As the hearing aid industry has undergone consolidation over the recent years, large institutions (manufacturers and other) have been acquiring hearing aid distribution channels – companies such as AHG. This adds value to Seto’s hearing care division in several multiples of their revenue - larger groups are acquired at higher (several) multiples of revenue. 2018 will see an addition of new clinics and a steady march to the goal of 200 clinics. Seto will continue to expand its medical division (hearing and other). Seto will also continue to develop and expand its health education sector see setolife.com.
Source: Seto Holdings, Inc.