VLCC to acquire Health Supplement manufactures WellScience Soon
NEW DELHI: VLCC, healthcare and wellness company is in the final phase to acquire the WellScience Health, makers of dietary-supplements and nutraceuticals for an undisclosed amount, the two officials directly aware of the development has informed ET.
“The acquisition process has moved to the final due diligence stage, and a formal announcement is expected soon,” said one of the two officials quoted above.
While a VLCC spokesperson declined to comment on the said issue.
“The move is in line with VLCC’s plan to accelerate its products business. The firm is looking at emerging categories within the fast-moving healthcare products space, and the new acquisition would be a natural extension for its personal care business," reports ET
“Until now, funding was the bottleneck for WellScience’s bid to scale and VLCC can address that. For VLCC, it would give it a ready foothold in the direct selling network and it could also be used to sell its own products ,” one of the officials said.
According to An Assocham-RNCOS forecast report said that the fast moving healthcare segment would be valued at $ 6.1 billion by 2020, expanding at 17 per cent a year.