Generex Biotechnology Provides 2019 Year-End Summary & 2020 Plans

MIRAMAR, Fla., Jan. 16, 2020 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (www.generex.com) (OTCQB:GNBT) (http://www.otcmarkets.com/stock/GNBT/quote) is happy to provide the investment community with a review of the many challenges overcome and accomplishments achieved in 2019, with a vision for revenue and growth in 2020 by Generex President & CEO Joseph Moscato.

Dear Generex Shareholders,

Since the new management team was put in place 3 years ago in January 2017, we have transformed Generex Biotechnology into an integrated healthcare holding company with end-to-end solutions for patient centric care from rapid diagnosis through delivery of personalized therapies. The NuGenerex family of subsidiary companies offers a broad range of products and services to meet the needs of physicians and patients.

Generex is building a new kind of healthcare company that extends beyond traditional models providing support to physicians in a management services organization (MSO) network, and ongoing relationships with patients to improve the patient experience and access to optimal care.

We started out the year focused on accelerating the geographic growth of our highly valuable MSO and planned the launch of a new software and service offering, DME-IQ that orthopedic practices can use to manage DME inventory and payments from both insurers and patients.  After significant due diligence we determined that there were distressed assets which we could acquire at a significant discount and reconfigure into a novel, public company MSO model aligning our shareholders and MSO ownership.  We are behind on the plan, however, because months after we closed the deal, federal authorities alerted us to “undisclosed and unknown” compliance issues involving the sellers in years way prior to our purchase, which affected our ability to move forward rapidly. We complied with the government’s requests, terminating personnel they identified as bad actors and immediately reconstructed our MSO in a public company structure ready and desired in the marketplace.  All legal remedies against the sellers are under way. Meanwhile, as soon as funding is in place, we will launch our public platform MSO. We have received positive feedback from potential partner practices that indicated that they will sign up faster under our novel, public company structure than for any private company offering, so we are confident of a significant success with our plan.  Our goal is to generate significant revenues and profits as we fund the enterprise to restart operations and expand the model nationally.