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, June 02, 2021 (GLOBE NEWSWIRE) — Guardion Health Sciences, Inc. (Nasdaq: GHSI) (“Guardion” or the “Company”), a scientific diet and diagnostics firm that develops clinically supported diet, medical meals, dietary supplements and medical gadgets, right this moment introduced the closing of the primary acquisition in its technique to extra broadly compete within the scientific diet market. The Company closed on the not too long ago introduced Equity Purchase Agreement with Adare Pharmaceuticals, Inc. (“Adare”) to amass the entire fairness of Activ Nutritional, LLC for a money cost of $26 million, topic to sure changes. Activ Nutritional, LLC, is a subsidiary of Adare Pharmaceuticals, Inc. and producer of the Viactiv® line of chewable mineral dietary supplements for bone well being and different purposes.
Currently marketed by way of lots of the nation’s largest retailers, together with, amongst others, Walmart (retail and on-line), Target, CVS and Amazon, the Viactiv product strains are anticipated to change into Guardion’s most outstanding product strains, in addition to to offer entry to vital alternatives within the short-term for progress and enlargement.
Bret Scholtes, Guardion’s President and Chief Executive Officer, commented, “Management is specializing in the way forward for Guardion. The conclusion of this acquisition is the primary in what we hope can be a number of value-added transactions to remodel Guardion right into a market chief in clinically supported diet. This acquisition satisfies plenty of our present necessities as we proceed to reconfigure our function within the scientific diet market. Activ Nutritional has a longtime model and presence from which we will considerably broaden our capabilities by way of advertising, product strains and new distribution channels. Activ Nutritional may also present a major increase to our present working revenues and contribute considerably to our efforts to attain operational profitability. This transaction expands our attain past ocular well being, which has lengthy been our main focus, and permits us to extra simply discover the opportunity of collaborating within the wider world of scientific diet to compete in a extra substantial and impactful method. It additionally positions us to extra adeptly establish extra alternatives to broaden our presence out there, whether or not by way of improved commercialization of our present merchandise and product pipeline or by way of different acquisitions and different strategic transactions.”
The Company can be submitting a Current Report on Form 8-Okay with the U. S. Securities and Exchange Commission (the “SEC”) to offer extra info on the closing of this transaction. Additionally, inside 71 days after the date that such Current Report on Form 8-Okay is required to be filed with the SEC, the Company will put together and file with the SEC an modification to such Current Report on Form 8-Okay that features required audited monetary statements and professional forma monetary info pursuant to relevant SEC laws.
Corporate Finance Associates (“CFA”) acted because the unique funding banker and strategic monetary advisor to Guardion. CFA’s advisory workforce was led by Daniel E. Sirvent, Managing Director and Global Head of Healthcare Investment Banking, and Joseph P. Sands, Global Head of Consumer/Retail Investment Banking. CFA is without doubt one of the largest and most skilled center market funding banking companies within the nation. Additional details about Corporate Finance Associates could also be discovered on their web site at www.cfaw.com.
Stout offered transaction and valuation advisory providers, together with due diligence evaluation and different technical help.
Sheppard, Mullin, Richter & Hampton LLP is serving as Guardion’s authorized advisor.
About Guardion Health Sciences
Guardion Health Sciences, Inc. (Nasdaq: GHSI), is a scientific diet and diagnostics firm. Guardion gives a portfolio of science-based, clinically supported diet, dietary supplements, medical meals, and diagnostic merchandise that help healthcare professionals, their sufferers, and customers in attaining well being objectives. Guardion’s business 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. This mixture of experience and scientific data kinds the inspiration of Guardion’s rising place throughout the eye care business and the scientific diet market. Information and danger elements with respect to Guardion and its enterprise, together with its potential to efficiently develop and commercialize its proprietary merchandise and applied sciences, could also be obtained within the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”) at www.sec.gov.
Forward-Looking Statement Disclaimer
With the exception of the historic info contained on this information launch, the issues described herein could include forward-looking statements throughout 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 embrace the phrases “believes,” “expects,” “anticipates,” “intends,” “initiatives,” “estimates,” “plans” and comparable expressions or future or conditional verbs similar to “will,” “ought to,” “would,” “could” and “may” are usually forward-looking in nature and never historic info, though not all forward-looking statements embrace the foregoing. These statements contain unknown dangers and uncertainties that will individually or materially impression the issues mentioned herein for a wide range of causes which are exterior the management of the Company, together with, however usually are not restricted to, the Company’s potential to boost adequate financing to implement its marketing strategy, the mixing of a brand new administration workforce, the mixing of a number of acquisitions and targets, the impression of the COVID-19 pandemic on the Company’s enterprise, operations and the economic system basically, the Company’s potential to efficiently develop and commercialize its proprietary merchandise and applied sciences, and the Company’s potential 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 may differ materially from these described within the forward-looking statements contained herein. Readers are urged to learn the danger elements 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 because of new info, future occasions or in any other case.
Investor Relations Contact:
CORE IR
Scott Arnold
516-222-2560
[email protected]
Media Relations Contact:
Jules Abraham
Director of Public Relations
CORE IR
917-885-7378
[email protected]
