"Strategic acquisitions are an important part of our growth plans and Bariatric Advantage is a perfect fit for Metagenics. This acquisition extends our therapeutic nutrition and lifestyle programs as solutions for chronic illnesses," said Fred Howard, CEO of Metagenics. "Working together, Metagenics and Bariatric Advantage will shape the market in the rapidly growing bariatric nutrition field. We will continue to invest in scientific validation, new product development and distribution to support these programs."
"Metagenics is an excellent partner for us," said Thomas Kinder, president and CEO of Catalina Lifesciences. "Both companies have built superior quality and science into our product lines and services, and have been the innovators in our respective spaces. The additional resources provided by Metagenics' research, business systems, and global presence will expand our ability to bring the advantages of our products to a much broader audience of bariatric patients and healthcare professionals worldwide."
The products and services of the two companies together span the continuum of health—from prevention and wellness through chronic illnesses through lifelong solutions for individuals who undergo weight loss surgery.
Currently, 10 million people in the U.S. have a body mass index (BMI) measurement of 35 or higher and co-morbid health conditions that make them candidates for weight loss surgery. Each year, approximately 230,000 individuals have weight loss surgery in the U.S. alone. Bariatric Advantage products provide these individuals with absorbable nutrients to promote long-term health following their surgery. Each Bariatric Advantage product meets Metagenics' manufacturing standards and is formulated to promote ease of absorption, good taste and long-term patient compliance.
"Catalina Lifesciences will operate as a strategic business unit of Metagenics, retaining its executive leadership, name, products, brand and employee base, while benefiting from the many resources within Metagenics," said Mr. Howard.