Veltex Corporation
VLXC
Other OTC0.03
USD
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Veltex Corporation
VLXC
(Other OTC)
Recent
price
0.03
P/E
ratio
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div
yld
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ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Veltex Corporation (OTCQB: VLXC), a holding company founded in 1987 and headquartered at 123 West Madison Street, Suite 1500, Chicago, Illinois, focuses on the development and acquisition of companies advancing modalities in health, wellness, and recovery, with target markets encompassing rehabilitation and treatment centers for substance use disorders. The company offers inpatient and outpatient addiction treatment services through its wholly owned subsidiary Veltex Medical, Inc. d/b/a Veltex Recovery Group (VRG), which operates a licensed behavioral health center in Mount Hope, West Virginia featuring 64 residential treatment beds including dedicated detox services priced at $425 per day; Veltex also pursues real estate acquisitions for expansion via Veltex Properties, Inc., such as a five-month option secured in 2024 to purchase 5.76 acres of adjacent land for $135,000, and employs joint ventures, collaboration agreements, and expert teams to deliver comprehensive programs addressing alcohol and drug addiction, gambling, gaming, and eating disorders typically following 28-30 day durations with 12-step support. Recent developments include VRG achieving cash-flow positivity with $264,589 in Medicaid reimbursements over 60 days in mid-2024, signing a provider contract with Highmark Blue Cross Blue Shield effective July 1, 2024 as the fourth managed care organization in West Virginia, resolving billing delays from cyber attacks and internal issues, and pursuing litigation against Armor Revenue Cycle Management for breach of contract and fraudulent misrepresentation in Cook County Circuit Court; the company uplisted from OTC Pink to OTCQB Venture Market in July 2022 to enhance liquidity and visibility, while earlier efforts encompassed a 2021 strategic joint venture with Light House Community Investment Agency, Inc. and property acquisitions in West Virginia.
Veltex Corporation Announces Leadership Changes and Strategic Board Expansion
Veltex Corporation Announces the 38th Annual Meeting of Shareholders
Shareholder Update - Veltex Corporation - Veltex Recovery Group Operations
Veltex Corporation Announces the 37th Annual Meeting of Shareholders