Acquisition to Transform and Strengthen Guardion’s Clinical Nutrition Product Portfolio
Guardion Will Continue to Explore Additional Growth Opportunities to Further Expand its Presence within the Clinical Nutrition Market
SAN DIEGO, May 18, 2021 (GLOBE NEWSWIRE) — Guardion Health Sciences, Inc. (Nasdaq: GHSI) (“Guardion” or the “Company”), a medical vitamin and diagnostics firm that develops clinically supported vitamin, medical meals, dietary supplements and medical gadgets, right this moment introduced the primary acquisition being effected underneath its recently-appointed CEO’s new development technique to extra extensively compete within the medical vitamin market. The Company has entered into an Equity Purchase Agreement with Adare Pharmaceuticals, Inc. (“Adare”) to accumulate the entire fairness of Activ Nutritional, LLC for a money fee of $26 million, topic to sure changes. The transaction is topic to a number of customary closing situations and is anticipated to shut by June 30, 2021.
Adare owns the Viactiv® line of complement chews for bone well being, immune well being and different functions. Currently marketed by means of most of the nation’s largest retailers, together with, amongst others, Walmart (retail and on-line), Target and Amazon, the Viactiv product strains are anticipated to turn out to be Guardion’s most distinguished product strains, in addition to to offer entry to vital alternatives within the short-term for development and enlargement.
Bret Scholtes, Guardion’s CEO commented, “The Activ Nutritional acquisition satisfies numerous our present aims as we proceed efforts to construct our place inside the medical vitamin market. Activ Nutritional has a longtime model and presence from which we are able to considerably develop our capabilities when it comes to advertising, product strains and new distribution channels. It additionally will present a major enhance to our present revenues and working earnings. The transaction instantly expands our attain past ocular well being, which has lengthy been our main focus, and permits us to extra simply discover alternatives within the wider world of medical vitamin. It additionally positions us to extra adeptly establish further alternatives to develop our presence available in the market, whether or not by means of improved commercialization of our present merchandise and product pipeline or by means of different acquisitions and different strategic transactions. We sit up for asserting to our shareholders the closing of this vital transaction.”
Sheppard, Mullin, Richter & Hampton LLP is serving as Guardion’s authorized advisor. Corporate Finance Associates served as Guardion’s monetary advisor. Stout offered due diligence evaluation and help. The Company will likely be submitting a Current Report on Form 8-Okay with the U. S. Securities and Exchange Commission (the “SEC”) to offer further data on this transaction.
About Guardion Health Sciences, Inc.
Guardion Health Sciences, Inc. (Nasdaq: GHSI), is a medical vitamin and diagnostics firm. Guardion affords a portfolio of science-based, clinically supported vitamin, medical meals, dietary supplements, and diagnostic merchandise that help healthcare professionals, their sufferers, and shoppers in reaching well being objectives. Guardion’s industrial and developmental initiatives are supported by equally spectacular scientific and medical advisory boards, led by seasoned enterprise executives and physicians with a few years of expertise. Information and danger components with respect to Guardion and its enterprise, together with its skill to efficiently develop and commercialize its proprietary merchandise and applied sciences, could also be obtained within the Company’s filings with the SEC at www.sec.gov.
Forward-Looking Statement Disclaimer
With the exception of the historic data contained on this information launch, the issues described herein could comprise forward-looking statements inside the that means of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, adopted by or that in any other case embody the phrases “believes,” “expects,” “anticipates,” “intends,” “initiatives,” “estimates,” “plans” and comparable expressions or future or conditional verbs resembling “will,” “ought to,” “would,” “could” and “might” are usually forward-looking in nature and never historic details, though not all forward-looking statements embody the foregoing. These statements contain unknown dangers and uncertainties that will individually or materially affect the issues mentioned herein for quite a lot of causes which are outdoors the management of the Company, together with, however will not be restricted to, the Company’s skill to boost adequate financing to implement its marketing strategy, the mixing of a brand new administration staff, the mixing of a number of acquisition targets, the affect of the COVID-19 pandemic on the Company’s enterprise, operations and the financial system usually, the Company’s skill to efficiently develop and commercialize its proprietary merchandise and applied sciences, and the Company’s skill to take care of compliance with Nasdaq’s itemizing necessities. Readers are cautioned to not place undue reliance on these forward-looking statements, as precise outcomes might differ materially from these described within the forward-looking statements contained herein. Readers are urged to learn the chance components set forth within the Company’s filings with the SEC, which can be found on the SEC’s web site (www.sec.gov). The Company disclaims any intention or obligation to replace or revise any forward-looking statements, whether or not on account of new data, future occasions or in any other case.
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