Bayer to acquire vitamin subscription company for $225M

” We think this design and item type has the ability to broaden into traditional retail channels as we aim to reach brand-new consumers,” Bayer spokesperson Dan Childs stated in a statement. “Together, we plan to grow the Care/of company across brand-new channels, brand-new categories and brand-new markets to provide a lot more personalized nutrition.”.

The German drugmaker will obtain 70 percent of Care/of for $225 million with the alternative to purchase the rest by 2022, an unnamed individual acquainted with the offer told Bloomberg.

Founded in 2016 in New York City, Care/of offers customized vitamin pack subscriptions as well as health and lifestyle devices.

Katie Adams –
Tuesday, September 1st, 2020
Print|Email.

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this material? View our policies by clicking here.

More short articles on pharmacy:78% of Americans think vaccine approval process is too politics-drivenWesterly Hospital opens $4M pharmacy13 officer moves impacting the pharma market.

Bayer will purchase Care/of, an online vitamin and supplement supplier, in efforts to broaden its nutrition and wellness portfolio, according to Bloomberg.