Veltex Corporation Announces Leadership Changes and Strategic Board Expansion

Rhea-AI Summary

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.

Positive

• Strategic board expansion with experienced professionals in hospitality and legal sectors
• Existing operational 64-bed treatment facility with Medicaid credentials
• Clear market focus on women's substance use disorder treatment

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• None.

CHICAGO, May 6, 2025 /PRNewswire/ -- Veltex Corporation (OTCQB: VLXC), a premier Health and Wellness Acquisition Firm, is pleased to announce key enhancements to its leadership structure as part of its continued growth strategy and mission to serve communities impacted by substance use disorder.

As part of this forward-looking initiative, Veltex Corporation is honored to announce the appointment of two distinguished professionals to its Board of Directors:

• Mr. Michael L. Ditzler, an accomplished entrepreneur and executive with extensive experience in the hotel and hospitality industry, brings decades of operational insight and service-sector leadership to the board.
• Mr. Richard D. Doermer, a seasoned attorney and corporate strategist, adds significant expertise in governance, legal oversight, and business development.

"Both Mr. Ditzler and Mr. Doermer represent the caliber of leadership we seek as we prepare for meaningful expansion," stated R. Preston Roberts, Chairman of the Board of Veltex Corporation. "Their insights and vision will be instrumental in supporting the continued growth and success of Veltex Corporation and its subsidiaries."

Veltex's flagship subsidiary, Veltex Medical, Inc. d/b/a Veltex Recovery Group, operates a 64-bed, OHFLAC-certified residential behavioral health and substance use disorder treatment facility in Mount Hope, West Virginia. The program exclusively serves women and is credentialed with Medicaid and all Medicaid MCO providers in the state.

With an unwavering commitment to recovery, community reintegration, and sustainable healthcare solutions, Veltex continues to lead in its mission to create meaningful alternatives for individuals and families impacted by addiction.

About Veltex Corporation
Veltex Corporation (OTCQB: VLXC), incorporated in Utah on September 17, 1987, is a publicly traded holding company with corporate headquarters in Chicago, Illinois. Its common shares trade on OTC Markets under the symbol VLXC. Veltex is a premier Health and Wellness Acquisition Firm, with a specific focus on Substance Use Disorder ("SUD") treatment facilities. Its wholly owned subsidiaries include Veltex Medical, Inc. d/b/a Veltex Recovery Group, a Delaware corporation, and Veltex Properties, Inc., also a Delaware corporation.

Veltex Medical, Inc. currently operates a 30,000 sq. ft. outpatient substance use disorder treatment facility located at 101 Martin Drive, Mount Hope, West Virginia, with active plans underway to expand into inpatient treatment services.

For more information, please visit:
www.veltex.com
www.veltexrecoverygroup.com

Safe Harbor Statement

This press release includes forward-looking statements, as defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, that involve various risks and uncertainties. These statements are intended to fall within the safe harbor protections of the Private Securities Litigation Reform Act of 1995 and may include terms such as "believes," "expects," "anticipates," "foresees," "estimates," and similar expressions.

Such forward-looking statements are based on current expectations and are subject to a number of risks and uncertainties that may cause actual results to differ materially from those projected. These include general market and economic conditions, dependence on third parties, availability of capital, and other factors beyond the company's control. Veltex Corporation undertakes no obligation to revise or update forward-looking statements as a result of new information, future developments, or otherwise.

This press release shall not constitute a general solicitation.

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SOURCE Veltex Corporation

FAQ

Who are the new board members appointed to Veltex Corporation (VLXC)?

Veltex Corporation appointed Michael L. Ditzler, an experienced hospitality industry executive, and Richard D. Doermer, a seasoned attorney and corporate strategist, to its Board of Directors.

What type of facility does Veltex Corporation (VLXC) operate in West Virginia?

Veltex operates a 64-bed OHFLAC-certified residential behavioral health and substance use disorder treatment facility in Mount Hope, West Virginia, exclusively serving women.

Is Veltex Corporation's treatment facility accepting Medicaid?

Yes, the facility is credentialed with Medicaid and all Medicaid MCO providers in West Virginia.

What is Veltex Corporation's (VLXC) main business focus?

Veltex Corporation is a health and wellness acquisition firm focused on providing treatment solutions for individuals and families impacted by substance use disorder.