Forging ahead with its acquisition program, the Bio-One Corporation has acquired Florida-based nutritional products firm Physicians Nutraceutical Laboratories.
The company develops proprietary, brand name, nutritional products, formulated and evaluated by medical practitioners, and has more than 4,000 physicians on its Scientific Advisory Board. Its leading product, Choless Cholesterol Formula, is a blend of medicinal herbs and minerals that is claimed to help maintain healthy cholesterol levels.
"This acquisition is the first to close of the initially targeted group of companies representing collective revenues in the range of $40 to $45 million. We have had numerous meetings with additional selected acquisition targets and anticipate further announcements regarding acquisitions in the coming months," said Armand Dauplaise, president and CEO of Bio-One.
In June, Bio-One announced the renewal of an agreement with industry mergers and acquisitions advisor Health Business Partners for assistance with its planned acquisition of profitable nutritional supplement companies.
Physicians Nutraceutical Laboratories' products are sold through healthcare practitioners, retail stores and Walgreens among others, although additional distribution channels are now under development.