Elder International FZCO to acquire NeutraHealth

Elder Pharmaceuticals already owns 21.1% stake in NeutraHealth.

NeutraHealth, which has three group companies – Biocare, Brunel Healthcare and Totally Nourish, focuses on vitamins, minerals and supplements sector within the UK and Europe. It has also presence in women’s healthcare, wound care and pain management, nutraceuticals, anti effective and lifestyle diseases care.

Neutrahealth CEO Ray Myers said that the cash offer from Elder at 6.5p represents good value for shareholders. The acquisition will allow the group to benefit from Elder Pharmaceutical’s significant scale, resources and experience within the industry.

Elder Pharmaceuticals executive chairman Jagdish Saxena said that the acquisition will not only offer Elder an entry into major European markets but will also create potential cost-efficiencies through the backward integration of products manufactured by Neutrahealth to be sold into India.

Elder Pharmaceuticals will be able to supply to the Neutrahealth several raw materials and active pharmaceutical ingredients required on a more cost-effective basis.