Winsted Holdings Acquires Additional 18% Interest in Nu Image MedSpa Company Reports Quarterly Revenues up 1,800% Over Year 2004 Winsted Holdings (OTC BB: WHLI), a Business Development Company, is pleased to announce that the company has acquired an additional 18% interest in Nu Image Medspa ("Nu Image") during our most recent fiscal quarter in a cash transaction.
Winsted Holdings now controls approximately 33% of the outstanding shares of Nu Image MedSpa, a private Franchise Medspa Organization based in Las Vegas, Nevada. Medical Spas are fast becoming the facility of choice among women and men seeking rejuvenating skin care procedures. Nu Image facilities offer FDA-approved procedures like Botox, Restylane, Laser Hair Removal, IPL-Skin Rejuvenation, Microdermabrasion, Chemical Peels, Collagen, and Leg Vein treatments.
Of the estimated 12,000 spas in the United States, about 470 are considered medical spas. With US revenues for spas expected to exceed $12B for 2005, Winsted continues to believe it is making prudent investments in the infancy of the faster-growing, higher-margin medical spa segment. With 12 medspas currently under Franchise agreements and an additional 9 locations in negotiation, Winsted is in a position to have revenue-producing relationships with nearly 5% of the entire medical spa market.
Evidence of the Winsted's emergence into the Medspa market is also seen by the company's latest quarterly results filed with the Securities and Exchange Commission on form 10Q dated November 21, 2005. Winsted booked approximately $150,000 in revenue Q3 2005, an increase of 1,800% compared to Q3 2004. For the nine months ended September 30, 2005, Winsted saw revenue of $300,000, an increase of 1,600% over the same period last year. Concurrently, Winsted also achieved year over year reduction in losses by over 60% for the current quarter and by 26% for the nine months ended September 30, 2005. The company attributes these improving results to its traction in the medspa industry and expects that these positive trends will continue into the foreseeable future.
About Nu Image MedSpa Inc.
At Nu Image MedSpa, not only are our customers treated with the best that technology has to offer, they also get expert consultations from our skilled medical staff. Our trend-setting spa-like facilities, combined with our friendly staff, are all you need for the best skin care experience ever. Our facilities offer FDA-approved procedures like Botox, Restylane, Laser Hair Removal, IPL-Skin Rejuvenation, Microdermabrasion, Chemical Peels, Collagen and Leg Vein Treatment. We work only with the most advanced laser equipment to achieve your desired results. Our medical staff is one of our most valued assets and they are trained in a culture of warmth, friendliness and customer service. Everything at the MedSpa is designed with your comfort and convenience in mind, even our business hours which are flexible to adjust to your needs. Making you look good and feel good is what we are here for!
The Nu Image MedSpa franchise business development program allows the investor to easily participate in one of the fastest growing and most lucrative sectors of the healthcare industry. Nu Image is committed to continually setting the highest levels of excellence and innovation for our clients. Medical Spas are fast becoming the facility of choice among women and men seeking rejuvenating skin care procedures. For more information about Nu Image MedSpa visit http://www.nuimagemedspas.com.
About Winsted Holdings, Inc.
Winsted Holdings Inc. (OTC BB: WHLI) is a Business Development Company (BDC) located in Newport Beach, California. BDCs are publicly traded, closed-end investment companies regulated by the Investment Company Act of 1940. The Company was founded on the premise that combining both operational talent and financial talent within a single private equity investment firm can significantly enhance the magnitude and consistency of investment returns. Winsted Holdings' team consists of accomplished financial professionals with experience at prestigious financial institutions, seasoned corporate executives from various industry enterprises and successful entrepreneurs with expertise developed in aspects from business development to capital markets and from sales and marketing to technology development. Over the coming months, the Company will outline its ever changing portfolio holdings and its plans for the long-term medspa expansion.
Statements made in this press release regarding the Company's or management's intention, beliefs, expectations, or predictions for the future are forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to compete effectively in a rapidly evolving and price competitive marketplace; possible reductions in demand for our products and services due to competition or changes in industry conditions; changes in the nature of medspa and telecommunications regulations in the United States and other countries; changes in business strategy; the successful integration of newly acquired businesses; the impact of technological change; and other risks referenced from time to time in the Company's filings with the Securities and Exchange Commission.
Source: Market Wire (December 6, 2005 - 8:35 AM EST)
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