---
schema_version: "secwatch.filing_event.v1"
accession: "0001829126-25-004487"
form_type: "8-K"
ticker: null
cik: "0001307624"
company_name: "Healthtech Solutions, Inc./UT"
filed_at: "2025-06-13T23:59:59+00:00"
generated_at: "2026-05-19T07:40:02.987754+00:00"
event_type: "m_and_a"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Healthtech sells patents ($5M) and World Reach units ($25M); CEO replaced

## Summary
- Sold one patent and four applications to Papyrus Therapeutic for $5M cash; perpetual license back to HTWC for wound care products.
- Sold 100% of World Reach Holdings to Papyrus Distribution for $25M base price, with $10M deferred via promissory notes.
- CEO and director Jelena Olmstead resigned effective June 6, 2025; James Pesoli appointed CEO.
- Transactions involved related parties (Pesoli and Olmstead had conflicting interests; approved by uninterested directors).
- Patent license grants HTWC perpetual, worldwide, non-exclusive right to manufacture DermaBind products with monthly royalties.

## SEC filing metadata
- accession: 0001829126-25-004487
- form_type: 8-K
- cik: 0001307624
- company_name: Healthtech Solutions, Inc./UT
- filed_at: 2025-06-13T23:59:59+00:00
- event_type: m_and_a
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1307624/000182912625004487/0001829126-25-004487-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1307624/000182912625004487/healthtech_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829126-25-004487
- JSON: https://secwatch.observer/filing/0001829126-25-004487.json
- Plain text: https://secwatch.observer/filing/0001829126-25-004487.txt

## Key facts
- Executive change
  James Pesoli was appointed as Chief Executive Officer at Healthtech Solutions, Inc./UT.
  - Action: appointed
  - Role: Chief Executive Officer
  source text: James Pesoli, the president and a director of the Company, was appointed as the chief executive officer of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1307624/000182912625004487/0001829126-25-004487-index.htm
- Executive change
  Jelena Olmstead resigned as Chief Executive Officer and Director at Healthtech Solutions, Inc./UT.
  - Action: resigned
  - Role: Chief Executive Officer and Director
  source text: Jelena Olmstead, who served as chief executive officer and a director of the Company, resigned as a director, officer and employee of the Company and HTWC.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1307624/000182912625004487/0001829126-25-004487-index.htm
- M&A Transactions
  Healthtech Solutions, Inc./UT completed a disposition involving Papyrus Distribution LLC for base purchase price equal to $25,000,000, subject to adjustment, with $10,000,000 deferred and payable via secured promissory notes (closed 2025-06-06).
  - Action: disposition
  - Counterparty: Papyrus Distribution LLC
  - Consideration: base purchase price equal to $25,000,000, subject to adjustment, with $10,000,000 deferred and payable via secured promissory notes
  - Closing: 2025-06-06
  source text: the sellers sold to Papyrus Distribution 100% of the issued and outstanding equity interests of WR Holdings for a base purchase price equal to $25,000,000.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1307624/000182912625004487/0001829126-25-004487-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.