FAVO Capital Appoints Dr. Wael Barsoum as Independent Director

Rhea-AI Summary

FAVO Capital (OTC: FAVO), a diversified financial company operating in financial services and real estate, has appointed Dr. Wael Barsoum as an independent director to its board. Dr. Barsoum brings significant executive experience as the former president and CEO of Cleveland Clinic Florida, where he led growth to over 1,000 physicians and 12,000 caregivers.

Currently serving as president and chief transformation officer at Healthcare Outcomes Performance Company (HOPCo), Dr. Barsoum oversees international and U.S. operations. His expertise includes healthcare innovation, governance, and organizational transformation, supported by his roles as professor at Cleveland Clinic Lerner College of Medicine and member of the Florida State Medical Board.

Positive

• Addition of highly experienced healthcare executive with proven track record in organizational growth
• Enhanced board independence and governance oversight
• Strategic expertise in managing complex organizations and transformation

Negative

• None.

Brings governance and large-scale operational expertise to strengthen oversight and support FAVO’s growth strategy

FORT LAUDERDALE, Fla., Sept. 29, 2025 (GLOBE NEWSWIRE) -- via IBN – FAVO Capital Inc. (OTC: FAVO), a diversified financial company operating across two core segments — financial services and real estate— today announced the appointment of Dr. Wael Barsoum to its board of directors as an independent director.

Barsoum is a nationally recognized health care executive and former president and CEO of Cleveland Clinic Florida, where he oversaw transformative growth and operational expansion across the region, scaling the enterprise to more than 1,000 physicians and 12,000 caregivers. He presently serves as president and chief transformation officer at Healthcare Outcomes Performance Company (HOPCo), overseeing international and U.S.-based operations, where he has led large-scale partnerships and value-based care strategies across the U.S. In addition to his executive roles, Barsoum has served as the Robert and Suzanne Tomsich Chair in Healthcare Innovation and professor of surgery at the Cleveland Clinic Lerner College of Medicine, underscoring his ongoing leadership in advancing healthcare innovation. He is also appointed by the governor of Florida to serve on the Florida State Medical Board, reflecting his leadership in statewide healthcare governance.

“Wael’s appointment reflects our commitment to building a board with the independence, depth, and experience to guide FAVO’s next chapter,” said Shaun Quin, president of FAVO Capital. “He brings a proven track record of leading complex organizations with discipline and vision — qualities that will serve our company and shareholders well as we continue to build a resilient platform designed for long-term value creation.”

Barsoum has served on numerous boards and advisory committees, contributing expertise in governance, compliance, and organizational transformation. He previously served on the board of directors of the Cleveland Clinic and is a current member of the board of trustees at Case Western Reserve University, where he continues to provide strategic guidance on organizational growth and stakeholder alignment. His leadership has spanned strategy, risk oversight, and transformation at some of the country’s most respected healthcare institutions.

The appointment further underscores FAVO’s focus on strong governance, independent oversight, and disciplined execution as it builds a durable platform designed to deliver resilient returns across cycles.

About FAVO Capital, Inc.

FAVO Capital, Inc. (OTC: FAVO) is a diversified financial company currently operating across two segments: financial services and selective real assets. Through its financial services division, FAVO provides alternative, revenue-based funding solutions to small and mid-sized businesses across the United States. Since its inception, the company has supported more than 10,000 businesses through the purchase of future receipts. Complementing its lending platform, FAVO is also building a portfolio of selective real assets that strengthen its balance sheet and broaden its collateral base. Headquartered in Fort Lauderdale, Florida, with operations in Florida, New York, and the Dominican Republic, FAVO Capital is committed to financial transparency, sustainable growth, and long-term value creation for its shareholders.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or the future financial performance of FAVO Capital, Inc. (the “Company”) and involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements.

In some cases, forward-looking statements can be identified by terms such as "may," "will," "should," "expects," "plans," "anticipates," "intends," "believes," "estimates," "projects," "potential," "continues," or similar terminology. These forward-looking statements include, but are not limited to, statements regarding the expected benefits of the website launch, the Company’s upcoming uplisting to Nasdaq, growth strategy, expansion plans, financial performance, and future business prospects.

These forward-looking statements reflect the Company’s current expectations and projections based on information available as of the date of this release and are subject to risks and uncertainties, including but not limited to general economic, financial, and business conditions; the Company’s leadership going forward; changes in market demand; the Company’s ability to successfully execute its strategic initiatives; the Company’s ability to complete complementary acquisitions and dispositions that benefit the Company; the Company’s continued ability to pay operating costs and ability to meet demand for its financial products and services and real estate operations; the Company’s ability to integrate its newly acquired real estate operations with its existing revenue-based funding solutions; competition in the financial services industry and real estate industry; regulatory compliance; and other risks detailed from time to time in the Company’s filings with the OTC Markets, including its most recent Annual Report and subsequent Quarterly Reports.

The Company cautions investors that forward-looking statements are not guarantees of future performance and actual results may differ materially from those projected. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

Company Contact:
FAVO Capital, Inc.
4300 N University Drive, D-105
Lauderhill, FL 33351
www.favocapital.com

Investor Contact:
Scott McGowan
InvestorBrandNetwork (IBN)
Phone: 310.299.1717
Email: ir@favocapital.com

FAQ

Who is Dr. Wael Barsoum and what is his role at FAVO Capital (OTC: FAVO)?

Dr. Wael Barsoum has been appointed as an independent director at FAVO Capital. He is a nationally recognized healthcare executive, former CEO of Cleveland Clinic Florida, and current president and chief transformation officer at Healthcare Outcomes Performance Company (HOPCo).

What experience does Dr. Barsoum bring to FAVO Capital's board?

Dr. Barsoum brings extensive experience in healthcare leadership, having overseen Cleveland Clinic Florida's growth to over 1,000 physicians and 12,000 caregivers. He also has expertise in governance, compliance, and organizational transformation.

What are Dr. Barsoum's current roles outside of FAVO Capital?

Dr. Barsoum serves as president and chief transformation officer at HOPCo, is appointed to the Florida State Medical Board, and is a board trustee at Case Western Reserve University.

How does Dr. Barsoum's appointment align with FAVO Capital's strategy?

His appointment reflects FAVO's commitment to building a board with independence, depth, and experience to guide the company's growth and create long-term value for shareholders.