|By Marketwired .||
|February 4, 2013 06:01 AM EST||
LOS ANGELES, CA -- (Marketwire) -- 02/04/13 -- Hanover Portfolio Acquisitions (OTCQB: HVPA), an intellectual property investment and monetization firm, announced today that Robert Fidler, an equestrian industry expert and former owner of hundreds of racehorses, has joined the Company as a Strategic Advisor. Mr. Fidler is to provide his expertise and industry connections in the equestrian market to expand the application of a medical device that Hanover is currently in the process of acquiring, Pulsed Energy Technologies' PER 2000.
Hanover recently announced it has signed a Letter of Intent to acquire 70% of Pulsed Energy Technologies and all of its intellectual property, assets, and accounts receivables. Pulsed Energy Technologies is the developer, ISO-certified manufacturer, marketer, and distributor of the Pulsed Energy Replenisher (PER 2000), a proprietary Pulsed Electro-Magnetic Field ("PEMF") therapy device. PEMF is a well-established treatment for a number of health conditions in humans, many of which are applicable for equine medical treatment. PEMF uses electrical energy to direct magnetic pulses through injured tissue, and has demonstrated its effectiveness in healing in more than 2,000 university level double-blind medical studies in numerous countries.
The PER 2000 is used to assist in the rehabilitation of top-tier racehorses and has been showcased at many equestrian exhibitions.
Former owner of hundreds racehorses, and actively engaged in the breeding and horse racing industry today, Mr. Fidler is highly knowledgeable of the U.S. equestrian industry and has taken a keen interest in how Pulsed Energy Technologies can expand its market share in the $40 Billion equestrian market. Mr. Fidler has also had a successful career working as a floor trader for many stock exchanges including the Pacific Stock Exchange, which has helped to cultivate his success as a business person, entrepreneur and investor. Additional investments of Mr. Fidler's include Franchise Contractors which built over 500 fast food restaurants, and high end restaurants including Cyrano's and Nicky Blairs.
"As a racehorse owner and enthusiast, I know firsthand the costs associated with equine medicine. The PER 2000 is applicable to many ailments of racehorses and breeding, and has the ability to tap into a massive market that is currently lacking an industry leader in this form of treatment. I look forward to bringing both Hanover and Pulsed Energy to the forefront in the equestrian market for the benefit of the horses as well as Hanover's goal in expanding the commercial markets for this technology," stated Mr. Fidler.
"Robert Fidler knows business and he knows horses, so we are very pleased that he recognizes the tremendous potential Pulsed Energy's device has in the equestrian market. Pulsed Energy already has a presence and recognized brand name in the equestrian healthcare market. Following the completion of our planned acquisition of Pulsed Energy, we will be bringing additional resources including Robert Fidler's expertise to expand commercialization and build value for the company's products," commented Hanover CEO, Alan Collier.
"This is our business model and strategy at work. We acquire promising technologies and add key strategic resources to maximize the value of those technologies across a spectrum of industry and geographic markets," Collier added.
Upon completion of the acquisition, Hanover's wholly owned subsidiary, IP Resources International, will seek to establish distribution and licensing agreements in multiple international markets for the PER 2000 to augment current U.S. sales. According to BCC Research, pain management medical devices for human applications, in the U.S. generated $1.48 billion in sales in 2008. This number is projected to increase to $2.5 billion in 2013, growing at a compound annual growth rate (CAGR) of 11.4%.
About Hanover Portfolio Acquisitions
Hanover Portfolio Acquisitions, Inc. (OTCQB: HVPA) is an intellectual property investment and monetization firm focused on creating shareholder value through joint ventures, licensing and direct investments in innovation. Hanover specializes in the commercialization of healthcare, energy, consumer electronics, and internet/mobile related technologies. The Company commercializes intellectual property in the United States and territories including Brazil, Russia, India, China and the European Union. Hanover's goal is to maximize the value of intellectual property by turning patents into royalty-generating assets and shortening the time to market for innovative technologies and products in new markets. www.hanoverpai.com
Safe Harbor Statement
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, trends, analysis, and other information contained in this press release including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," and other similar expressions of opinion, constitute forward-looking statements. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.
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