UPD Holding Corporation (UPDC) announced that it entered into a non-binding letter of intent on October 6, 2020, to acquire Vital Behavioral Health Inc. (VBH). VBH is a provider of Medicare- and Medicaid-eligible addiction treatments and therapies under the brand Vital Behavioral Health, as well as a provider of sober and transitional living accommodations under the brand Vital Sober Living. Following the acquisition, UPDC intends to launch an addiction treatment and sober living center in Frankfort, Kentucky. Client outreach will include the surrounding counties and nearby metropolitan areas of Louisville and Lexington.
VBH’s flagship campus is located in Frankfort, Kentucky, and includes multiple treatment and housing facilities that are fully walkable and within a 1,000 feet of a gym, grocery store, hair salon, vape shop, restaurants, municipal golf course, and city park with tennis courts, playgrounds, and a water park. VBH Frankfort, LLC (doing business as Vital Behavioral Health of Frankfort) is in the pre-application process to become a licensed non-hospital-based outpatient alcohol and other drug treatment entity. The organization intends to file its application with the State of Kentucky within the next 30 days. Approval of that license application is anticipated within 90 to 180 days from the application date. VSL Frankfort, LLC (doing business as Vital Sober Living of Frankfort) currently has 30 apartment and townhome style units with an approximate 90-bed capacity and flexible living space configurations. Vital Sober Living of Frankfort anticipates being move-in ready within the next 30 to 60 days.
UPD Holding Corporation is a publicly traded holding company engaged in the business of offering consumer driven products and services through its three wholly-owned subsidiaries, United Product Development Corp., iMetabolic Corp., and Record Street Brewing Co. The organization has concentrations in the specialty beverage sector and health and wellness industry. Pursuant to the letter of intent, UPD intends to acquire 100% of the issued and outstanding capital stock of VBH in exchange for the issuance of up to 15,000,000 shares of newly issued UPD common stock to VBH shareholders.
This was reported by UPD Holding Corporation on October 7, 2020.
Contact information: Mark Conte, Chief Executive Officer & Director, UPD Holding Corporation, 75 Pringle Way, 8th Floor, Suite 804 Reno, Nevada 89502; 775-829-7999
Contact information: Samuel Kesaris, Chief Executive Officer, Vital Behavioral Health, Inc., 803 Louisville Road, Frankfort, Kentucky 40601