Navigation Links
Alticor Enters Into Joint Venture Agreement With Metagenics
Date:8/11/2009

ADA, Mich. and SAN CLEMENTE, Calif., Aug. 11 /PRNewswire/ -- Alticor, a global company with an uncompromising commitment to innovative scientific research and development of quality products, and Metagenics, a premier manufacturer and distributor of science-based medical foods and nutraceuticals marketed to health care professionals, today announced that they have entered into a joint venture agreement.

Under the terms of the agreement, Alticor will obtain a substantial ownership interest in Metagenics, and the current Metagenics shareholders will continue to retain a significant interest in the company. The agreement is subject to customary closing conditions, including approval by Metagenics shareholders and antitrust clearance. The closing is expected to take place later this summer. Detailed terms of the agreement were not disclosed.

"Today is an extraordinary day for Metagenics and its employees and customers around the world as we join forces with a partner that shares our commitment to science-based nutrition and wellness," said Jeffrey J. Katke, Chairman and CEO of Metagenics. "Alticor is an $8 billion global company with an unwavering dedication to research and the development of best-in-class products. We are confident that this joint venture will give Metagenics new opportunities to expand and grow - allowing us to further enhance the innovative product offerings our trusted health care professionals have come to expect."

Katke added, "Metagenics remains dedicated to its values. We believe this joint venture, by giving us access to financial resources to support our internal growth and our acquisition strategy, will help Metagenics realize its vision of reversing the chronic illness epidemic. Metagenics will continue to operate as a stand-alone company, delivering medical foods and nutraceuticals through health care professionals around the world."

"Alticor and Metagenics share a philosophy for promoting good nutrition, healthy living and natural science," said Jim Weaver, Vice President - Alticor Corporate Enterprises. "Each company boasts a deep commitment to science and nature with leading research and development teams dedicated to harnessing the power of plant-based, natural, scientific research. This joint venture fits into our strategy to bring complementary brands into our family of businesses, and we are pleased to be partnering with Metagenics' world-class employees and management team."

Alticor and Metagenics each have a long history of dedication to health, wellness and the application of advanced science and technology.

Alticor, through its NUTRILITE(TM) brand, conducts innovative nutrition research and offers more than 200 products to address the individual nutritional and wellness needs of anyone at any life stage. Many of NUTRILITE's products are manufactured using botanicals grown either on NUTRILITE-owned certified organic farms or on farms that adhere to sustainable farming principles to ensure the best products are delivered to individuals seeking to maintain a healthy lifestyle.

Metagenics' investment in scientific research led to the development of its leading nutrigenomic research center. The center develops science-based medical foods and nutraceuticals for nutritional support of clinically tested therapeutic lifestyle-change programs. Therapeutic lifestyle change programs are emerging as the preferred method for the treatment and prevention of chronic illnesses.

In forming the joint venture, Bryan Cave provided legal counsel for Alticor and Crowe Horwath served as financial advisors. Canaccord Adams acted as exclusive financial adviser to Metagenics, and McDermott Will & Emery provided legal counsel.

About Alticor

Alticor (www.alticor.com) is the parent company of Amway Corp., Amway Global, Access Business Group LLC and Alticor Corporate Enterprises. Headquartered in Ada, Michigan, USA, Alticor and its affiliates offer products, business opportunities, and product development, manufacturing and logistic services in more than 80 countries and territories worldwide. In its most recent financial year, the company reported worldwide sales of more than $8.2 billion. For further information, please contact Alticor's media information line at 616-787-7565 or e-mail Alticor's media relations staff at mediainfo@alticor.com.

    Ania Zdrada
    Corporate Communications
    Alticor
    mediainfo@alticor.com
    616-787-7565

About Metagenics

Metagenics (www.metagenics.com) headquartered in San Clemente, CA, is a global life sciences company focused on reversing chronic illness and improving health. Founded in 1983, the company serves tens of thousands of health care professionals and more than a million patients throughout the world and holds more than 40 proprietary formula patents for use in nutraceuticals, medical foods, and pharmaceuticals. Today, Metagenics continues its leadership role through its world class sales force, by successfully merging the disciplines of nutritional genomics, functional medicine, and therapeutic lifestyle change programs to find solutions to society's most pressing health concerns.

    Joseline L. Davison
    Corporate Communications
    Metagenics, Inc.
    josiedavison@metagenics.com
    949-369-3406


'/>"/>
SOURCE Alticor
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Alticors 2007 Global Sales Top $7 Billion
2. Photos: Lumixyl(TM) Enters the Market to Improve the Appearance of Hyperpigmentation without Irritation and Side Effects
3. Memorial Blood Centers Joins Extreme Makeover: Home Edition As Designated Charity
4. Millin Associates has the Perfect Solution for Hospitals & Health Centers Dealing With an Influx of Uninsured Patients
5. Great Expressions Dental Centers, Inc. Acquires Willow Creek Dental Care in Canton, MI
6. AHIMA Enters Multinational Arena to Support HIM Worldwide Advancement
7. Medicare Cuts Will Force Many Cancer Centers To Close, Stop Seeing Medicare Patients, Lay Off Staff, According To ASTRO Survey
8. Texas Kidney Community: CMS Authorization to Survey 22 New Dialysis Centers Excellent First Step Toward Opening Additional Pending Facilities, Creating More Local Jobs
9. SETO Holdings, Inc. Enters Into Two Additional Leases for Two New Hearing Centers in Maryland and Virginia
10. Assara Laser Hair Removal Centers (New York, NY) Receives 2008 New York Award for Cosmetology & Personal Hygiene Salons by the U.S.C.A.
11. NeoGenomics Enters into Strategic Supply Agreement with Abbott for Development of a Melanoma Cancer Test
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2017)... London, CT (PRWEB) , ... June 27, 2017 ... ... the Alice P. Fabrykiewicz Scholarship Foundation Fundraiser hygiene symposium in Mystic, CT. Covering ... Toback and Urbanski offered their experience in these popular periodontal procedures. Drs. Toback ...
(Date:6/27/2017)... Valley, CA (PRWEB) , ... June 27, 2017 , ... ... since 2001 suffer from PTSD. Yet less than 20% will receive adequate care due ... those with PTSD won't receive any care at all. And left untreated, veterans are ...
(Date:6/27/2017)... ... ... Children’s National Health System received top honors in the 2017-18 U.S News ... out of more than 1500 neonatal intensive care units coast to coast. ... to the top performing children’s hospitals in the country. , In addition to ...
(Date:6/26/2017)... ... 26, 2017 , ... Dr. Martin Bastuba, MD, FACS, founder ... the Fertility Center of California, is pleased to announce the addition of two ... TESA (percutaneous testicular sperm extraction). These minimally invasive treatments are primarily used to ...
(Date:6/26/2017)... ... June 26, 2017 , ... ... leakage is revolutionizing the way women look and feel about themselves and their ... of female sexual dysfunction and urinary leakage head on with a ground breaking ...
Breaking Medicine News(10 mins):
(Date:5/26/2017)... May 26, 2017  Endo International plc (NASDAQ: ... and CEO, will represent the Company in a fireside chat ... on Tuesday, June 13, 2017 at 10:40 a.m. PT / ... Resort in Rancho Palos Verdes, CA. ... event will be available on the Company,s website at ...
(Date:5/24/2017)... May 24, 2017  ivWatch LLC today announced ... (OEM) Board to enable seamless integration of ivWatch,s ... systems, infusion pumps and other devices. By integrating ... able to help health care customers deliver a ... related to IV therapy. "The ivWatch ...
(Date:5/22/2017)... COTTAGE, N.Y. , May 22, 2017 /PRNewswire/ ... antiviral treatment Gene-Eden-VIR/Novirin, announces the launch of a ... plain English, the results of a clinical study ... one year treatment with Gene-Eden-VIR/Novirin in individuals suffering ... important to note that there are no other ...
Breaking Medicine Technology: