WELL on watch tomorrow
Feb 21, 2012 (Close-Up Media via COMTEX) -- Capsalus Corp. has completed the
acquisition of the stock of GeneWize Life Sciences, Inc., the direct-selling
subsidiary of GeneLink Biosciences, Inc., a provider of consumer genomics.
According to a release, noteworthy participants in this transaction included
Fidelity Holdings, Inc., Wharton Equity Partners, and Gene Elite, a private
investor consortium. With their collective involvement, Capsalus plans to bring
not only financial support to GeneWize, but also hands-on operational expertise
and strategic development opportunities.
GeneWize secures Capsalus' stake in the combined $20 billion market of skin
care, weight management and wellness supplements in the U.S.
"Considering their current outstanding performance in the market combined with
our operating capabilities, professional resources and financial support, we are
well-positioned for rapid expansion," said Steven M. Grubner, interim CEO of
Capsalus, which provides operating infrastructure, strategic pathways and
financial support to developing partners in the health and wellness multi-level
marketing arena.
GeneWize's COO Sharon Tahaney said, "What we had hoped for when we embarked on
this exploration is being realized in terms of overall business optimization
potential. With this deal we are bringing together extraordinary science and
business expertise to take our company to the next level through a distinctly
robust strategy combining consumer genetics with social marketing."
More information:
www.capsalus.com
www.genewize.com
((Comments on this story may be sent to newsdesk@closeupmedia.com))
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