AUSTIN, Texas, May 5, 2017 /PRNewswire/ --
Paradise Ridge Hydrocarbons, Inc. (OTC Pink: PRGE) today announced that in conjunction with its strategic diversification plan, it has formed a subsidiary to pursue acquisitions in the global wellness market.
With consumer demand for wellness services and products higher than ever, recent research reveals that the global wellness market is now worth $3.4 trillion, making it nearly three times larger than the $1 trillion worldwide pharmaceutical industry.
The study, conducted by an unrelated, independent, non-profit research firm confirms wellness as one of the world's largest and fastest-growing industries. To assess the size of the industry, the study identified and evaluated ten major wellness sectors: alternative and complementary medicine; beauty and anti-aging; fitness and mind-body; healthy eating, nutrition and weight loss; preventative and personalized health; spa; thermal and mineral springs; wellness real estate; wellness tourism; and workplace wellness.
According to President Gordon Johnson, "We are at a pivotal moment where people worldwide are taking steps to change the way they live, work, and play, while at the same time governments are finally recognizing the value of investing in prevention to lower healthcare costs." PRGE has already identified several acquisition opportunities and has commenced negotiations with companies whose products are scalable and offer affordable services to consumers in this sector.
Forward Looking Statements:
This press release contains forward-looking statements that involve numerous risks and uncertainties. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including those set forth in the Company's filings with the Securities and Exchange Commission.
For more information:
Gordon Johnson, CEO - Paradise Ridge Hydrocarbons, Inc.
SOURCE Paradise Ridge Hydrocarbons, Inc.