Monday, February 27, 2012
Rapid Nutrition enter into Equity based Joint venture agreement with Indian pharmaceutical company
Australian natural healthcare company Rapid Nutrition has entered into a joint venture agreement with Indian pharmaceutical production company Cheminnova.
Nerang, Queensland, February 27, 2012 - Rapid Nutrition, whose flagship product Leisa’s Secret, a set of scientifically formulated weight loss and maintenance supplements, has already achieved considerable success both in Australia and overseas.
The company’s managing director, Simon St Ledger, says the joint venture is on an equity basis and will enable Rapid Nutrition to manufacture its own high quality finished formulations as well as derive an income from continued contract manufacturing.
“This is a strategic growth opportunity for Rapid Nutrition as we gear up our global expansion plans,” Mr St Ledger says.
“The venture, which involves business generating assets valued at over $20 million, gives us both equity and captive production capabilities in exchange for part of our business and access to our products.
“While our manufacturing capacity is adequate for current demand, this purchase will allow us to not only increase our output, but take advantage of its research and development facilities for new products.
“Once acquired we will have a manufacturing capacity of 3.5 million tablets, one million capsules and one million bottles of liquid orals in glass and PET bottles per 12 hour shift.”
Established by the late Dr M Seshgiri Rao in 2001, Cheminnova has three facilities which manufacture non-sterile pharmaceutical formulations in solid and liquid dosage forms for a range of major multinational food and pharmaceutical companies.
Cheminnova has full HACCP, ISO 14001, ISO 9001 and GMP certification as well as complying to Halal and Ayush requirements and is in the process of establishing their presence across the US, Africa, Europe and Asia, all of which will enable Rapid Nutrition to be prepared for meeting higher regulatory requirements for international markets.
Cheminnova’s managing director Vasudev Rao says he is excited at the prospect of the partnership.
“Rapid Nutrition is developing niche products and is expanding into a comprehensive healthcare company,” Mr. Rao says.
“As such our combined resources should result into the full vertical integration of research, production, marketing and sales of a range of innovative products.”
Cheminnova’s head of Business and Strategy, Vaidyanathan Nateshan, says the joint venture is a natural fit and a strategic step forward for both companies and will aid globalising both business models.
The acquisition is expected to be finalised sometime in March.
Rapid Nutrition recently announced its intention to list on the Deutsche Börse’s Frankfurt Stock Exchange.
The listing proposal will be presented to Rapid Nutrition shareholders for final approval in the coming weeks with the aim of a company roll up into a UK based public limited company to be completed soon after.
For more information or to register interest in Rapid Nutrition’s listing visit www.leisassecret.com/?page_id=2
For all media enquiries contact Bruce Nelson on +61 (0) 423 403 44 or email@example.com
About Rapid Nutrition
Rapid Nutrition is a natural healthcare company focused on the research, development and production of a range of life science products.
The company was established on the back of its successful and proven weight loss supplement range which is exported worldwide, and now offers consumers a growing range of health and wellbeing solutions to meet existing and emerging societal health concerns, as well as a providing number of wider services to the life sciences industry.
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