NEW YORK—Global Tech Industries Group (GTII: OTCQB), a Nevada-based corporation, said last week that it has signed a binding letter of intent to acquire Bronx Family Eye Care Inc., a New York-based eyecare company engaged in full-scope optometry. The terms of the acquisition were not disclosed, and according to the GTII website the transaction will mark its entry into the optical and eyecare sector. A definitive stock purchase agreement and formal closing of the transaction are expected within the next 30 days, the announcement noted.

Bronx Family Eye Care operates four locations, three of which are in the Bronx with one other in Manhattan, New York. The practice also performs edging of lenses in-house, which allows for turnaround times of as little as 24 hours.

Bronx Family Eye Care’s certified optometrists use cutting-edge equipment to provide diagnosis and treatment for diseases of the eye, as well as corrective eyewear, to residents of the Bronx and Upper Manhattan, the companies noted.

GTII chief executive officer David Reichman said, “We made the decision very quickly that Bronx Family Eye Care would be a great fit for our company, as part of our mission is to acquire companies that have interesting and diverse businesses as well as to serve the public interest. The fact that the company is already generating revenue is another tremendous positive for our balance sheet and our plans moving forward.”

Bronx Family Eye Care chief executive officer Nikolay Bitsenko added, “Since its inception in 2014, Bronx Family Eye Care has pursued the simple, yet complex, goal of treating diseases of the eye, as well as providing corrective eyewear to our community, whether to residents of the Bronx, or to our work with non-profit organizations. Joining the GTII team should allow us to expand our reach into new markets and new technologies.”

GTII is a publicly traded company with subsidiary businesses involved in sustainable food sourcing and logistics, high definition streaming content and enviromental chemical disposal, according to its website. Its shares trade on the OTC markets, and its “subsidiaries and affiliates include intellectual properties, proprietary systems, and trade secrets in the bioscience, green-tech, and global health technologies, among other new and emerging businesses."