OPTEC International Inc. (OTCMKTS: OPTI) has officially launched a new group purchasing unit through its newly acquired subsidiary WeShield, dubbed “WeShiled Together.”
OPTEC launched WeShield
Since the beginning of August, the company has transacted with 32 commodity-based distribution channels and brokers who chose WeShield to assist bring down increasing costs on the stressed products globally because of overburdened supply chains in the aftermath of the worldwide epidemic. Soon, the company plans to expand into additional commodities.
Over $2 million in PPE and medical supply sales were made in the first two weeks of WeShield’s start. In addition, the spike in the Delta Variant is boosting performance leading to higher-than-expected sales. To address the growing demand, Optec is focusing on the Lambda and Omega strains of the virus and securing new supply partners.
Michael Sinensky, WeShield CEO, Said, “WeShield continues to successfully establish itself as a leader in the PPE and medical supply space. After being named the 53rd fastest growing company in the nation by Inc.5000, we have seen an increase in inquiries from commodity based sales companies and brokers to join ‘WeShield Together’ to help protect their purchases in light of rising fraud due to the Delta variant surge. In addition, we are collectively all saving money with our combined purchasing power, which will go straight to the bottom line.”
WeShield generated $40million in revenue in Q1/Q2 2021
WeShield had total revenues of $40 million in Q1/Q2 2021, with EBIDTA of $6.7 million, or 17% of revenue. It was placed 53rd on the annual Inc. 5000 list. WeShield has experienced significant growth in both the medical supply and PPE sectors, supplying PPE safety products to some of the country’s largest government agencies (VA, DLA, NYCHA), healthcare networks (Mt.Sinai, Wellstar, Planned Parenthood), and hospitals, retail, and hospitality brands like Gucci, GAP, Hard Rock, Caesars Entertainment, in the United States.