From the Wires
Hanover Portfolio Acquisitions to Pursue $40 Billion Equestrian Market Through Technology Commercialization Deal
Equestrian Expert Robert Fidler Comes on Board as Strategic Advisor
By: Marketwired .
Feb. 4, 2013 06:01 AM
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%.
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