XWELL, Inc. (NasdaqCM:XWEL) is looking for acquisitions. Scott Milford, Chief Executive Officer said, "We're also diligently executing our bio surveillance partnership with 9 stations in 7 of our busiest airports. And as we continue to grow those verticals organically, we continue to actively pursue high value-added acquisitions.

XWELL's acquisition path will potentially involve 1 or more businesses, and we're pursuing opportunities on multiple fronts. First, in an effort to expand our wellness capabilities, enhance our scale, diversify our revenue streams and launch new strategic opportunities, we've been exploring opportunities for larger transformative acquisitions. We continue to believe there is immense value creation here.

However, unsurprisingly, executing sizable, highly complex M&A takes time. And the timing of transformative deals tends to be driven by the seller. Second, we're also exploring bolt-on acquisition opportunities, where we see good businesses in solid markets that will immediately provide a new product set or stand-alone service offering outside of the airport.

Over time, we'll look to create even further value by cross-selling respective services and offerings among existing and new locations. The pipeline for lower-cost accretive bolt-on acquisitions is very appealing. And due to continued macroeconomic uncertainty, and volatility within the banking sector, we believe XWELL is ideally situated to efficiently execute these types of opportunities, while also pursuing transformative M&A".