Welcome to our dedicated page for Veltex news (Ticker: VLXC), a resource for investors and traders seeking the latest updates and insights on Veltex stock.
Veltex Corporation (OTCQB: VLXC) is a Utah-incorporated public holding company headquartered in Chicago, Illinois, that describes itself as a Health and Wellness Acquisition Firm focused on substance use disorder ("SUD") treatment. Its news flow centers on developments at its wholly owned subsidiaries, particularly Veltex Medical, Inc. d/b/a Veltex Recovery Group, and Veltex Properties, Inc.
News releases frequently highlight operational updates at the Veltex Recovery Group behavioral health campus in Mount Hope, West Virginia. These updates have included approvals for licensed residential treatment beds, the launch and expansion of in-patient services for women, detox program implementation, and details on levels of care recognized by West Virginia health authorities. The company also reports on credentialing milestones with Medicaid and managed care organizations, billing and reimbursement progress, and the adoption of electronic medical record and revenue cycle systems.
Investors and observers can also find governance and corporate updates in Veltex news, such as annual meeting announcements, leadership changes, and additions to the Board of Directors. Legal and financial developments, including efforts to collect on a substantial federal judgment and litigation related to credentialing and revenue cycle services, are another recurring theme in the company’s communications.
Because Veltex positions itself as a Health and Wellness Acquisition Firm with a focus on SUD treatment, its news often combines healthcare operations, regulatory approvals, payer relationships, and corporate strategy. Readers interested in VLXC can use this page to review company-issued information on treatment capacity, program structure, partnerships, shareholder meetings, and legal matters as disclosed over time.
Veltex Corporation (VLXC) has announced significant leadership changes with the appointment of two new board members. Michael L. Ditzler, an experienced hospitality industry executive, and Richard D. Doermer, a seasoned attorney and corporate strategist, have joined the company's Board of Directors. The appointments are part of Veltex's growth strategy in the health and wellness sector.
The company's main subsidiary, Veltex Medical (d/b/a Veltex Recovery Group), operates a 64-bed OHFLAC-certified residential behavioral health facility in Mount Hope, West Virginia, focusing on substance use disorder treatment exclusively for women. The facility is credentialed with Medicaid and all Medicaid MCO providers in the state.
Veltex (OTCQB: VLXC) announced its 38th Annual Meeting of Shareholders on December 4, 2024, at the Mount Hope Campus of Veltex Recovery Group in West Virginia. The meeting starts at 10:00 a.m. local time. Only shareholders of record can attend and must present valid photo ID and proof of ownership. Electronic devices are prohibited to ensure privacy. Proxy materials will be available online or via mail on November 20, 2024. Shareholders can vote in person or through proxies, with specific instructions for beneficial owners and those with shares in Employee Savings Plans. For further details, contact Shareholder Services at Info@Veltex.Com or 1-312-235-4014.
Veltex (OTCQB: VLXC) has announced its 38th Annual Meeting of Shareholders, scheduled for December 04, 2024, at the Mount Hope Campus of Veltex Recovery Group in West Virginia. The meeting will begin at 10:00 a.m. Local Time. Shareholders of record as of November 11, 2024, are eligible to attend and must present valid photo identification and proof of share ownership.
Proxy materials will be available to shareholders around November 20, 2024. The meeting will prohibit electronic devices to protect patient privacy. Shareholders must submit voting instructions by November 27, 2024, if shares are held under Employee Savings Plans.
Veltex (OTCQB: VLXC), a Health and Wellness Acquisition Firm, announces that its subsidiary, Veltex Recovery Group (VRG), has received approval to operate 64 licensed residential treatment beds at its facility in Mount Hope, WV. VRG is also seeking approval to expand to 250 beds. The facility has dedicated four beds for detox treatment, which began on June 10, 2024, with services priced at $425 per day for up to 10 days. VRG has become cash-flow positive, with reimbursement received from various Medicaid MCOs, totaling $264,589.36 in the last 60 days. Additionally, VRG has signed a contract with Highmark Blue Cross Blue Shield, effective July 1, 2024. The company faced and resolved delays in claim processing due to a cyber attack and internal billing issues. Veltex is also pursuing litigation against Armor Revenue Cycle Management for breach of contract and fraudulent misrepresentation. Furthermore, Veltex Properties has secured a five-month option to purchase additional land for expansion.
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Veltex Corporation (OTCQB:VLXC) announced that its subsidiary, Veltex Recovery Group (VRG), has received approval to provide in-patient residential treatment at its facility in Mount Hope, West Virginia, starting November 28, 2022. The center will feature 28 licensed beds, primarily for women, addressing the critical need for substance use disorder (SUD) treatment in the region. Initial revenue is projected at $425 per day per resident, with plans for phased expansion to accommodate up to 500 residents. VRG has also partnered with various health services to enhance treatment offerings.
Veltex Corporation (OTCQB: VLXC) will hold its 36th Annual Meeting of Shareholders on December 20, 2022, at 10:00 a.m. local time at the Mount Hope Campus. Only shareholders of record can attend and must present valid identification and proof of ownership to gain entry. Proxy materials will be made available on or about November 10, 2022, with voting available for shareholders by mail, in person, or online. Any shareholder owning common stock as of November 1, 2022, is eligible to vote. For inquiries, contact Shareholder Services.
Veltex Corporation (OTCQB: VLXC) announced the recovery of 900,000 common shares valued at $450,000 and $1,681.62 in cash from Federal litigation in California. This recovery, linked to a previous fraudulent conveyance case against former management, follows a final judgment of over $100 million in favor of Veltex. The company intends to enforce all legal matters and keep shareholders informed about tax and legal developments. Veltex, incorporated in 1987, operates through its subsidiaries Veltex Properties, Inc. and Veltex Medical, Inc.
Veltex Corporation (OTCQB:VLXC) announced its uplisting from the OTC Pink Market to the OTCQB® Venture Market, effective July 25, 2022. This transition aims to enhance trading liquidity and market visibility for the company, which focuses on health and wellness acquisitions, particularly in substance use disorder (SUD) treatment. Veltex operates an outpatient SUD facility in Mount Hope, WV, with plans for inpatient services. The uplisting is expected to broaden the investor base and offer improved compliance standards, contributing to the company's strategic goals in the healthcare sector.
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