Medlab Clinical Ltd (ASX:MDC) sells its Australian nutraceutical business to PharmaCare
DATE: Wednesday 27th October 2021
We would like to inform you that Medlab Clinical Ltd (ASX:MDC) is very pleased to announce the sale of the Australian-only part of its nutraceutical business to PharmaCare, a well-established and respected Australian health & wellness company.
The change in ownership become effective on the 1st November 2021.
Dr. Sean Hall, CEO and Founder commented, “This change in ownership makes sense for the full supply chain as PharmaCare has a full pharmacy and allied health infrastructure, capability and great customer service. We are confident that PharmaCare will continue to develop relationships with utmost devotion and industry knowledge. We look forward to a collaborative future to continue to innovate for the Australian population via PharmaCare.”
Medlab values its partners and would like to thank you for your support.
CEO PharmaCare Glenn Cochran said, “The acquisition of MedLab’s nutraceutical business is a welcome addition of 29 new products to PharmaCare’s comprehensive portfolio of health and wellness brands. Healthcare has never been more top of mind and there are vast opportunities to grow MedLab in the hands of PharmaCare."
“It has been an excellent engagement along the way with MedLab, which are also an Australian company with shared goals. We look forward to continuing our collaboration through research and new therapeutic solutions,” Mr Cochran said.
The next phase of the acquisition will see PharmaCare seamlessly integrate the MedLab brand into its portfolio and begin to leverage the Company’s extensive reach across the Australian market.
“PharmaCare has a strong team of experts in the natural health sector able to put their collective minds behind the success of the brand and are ready to support all of MedLab’s customers to achieve a seamless transition of ownership,” Mr Cochran said.
The announcement underscores PharmaCare’s ambition to build a portfolio of brands that make a positive impact on people’s lives with high-quality and efficacious products, reinforced by research, that are accessible to everyone.
The Medlab range can now be found in Australia at https://www.pharmacare.com.au/medlab/
In Australia, please call 02 9997-1466 to speak with a Pharmacare customer care team who will be happy to assist you with your enquiry.
To discuss global licensing opportunities please contact Medlab
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Medlab in-house Editor.