Quebec City, Canada, September 22 - Atrium Innovations Inc. is pleased to announce the acquisition of Orthos Europe B.V.
With its Nootdorp headquarters located in The Netherlands, Orthos’ subsidiary, AOV Orthomoleculaire Voedingssupplementen B.V., is renowned throughout Holland for the development and marketing of high quality food supplements through the Health Care Practitioner Channel. In 2007, AOV achieved annual sales of 4.1 million euros (US$5.6 million). Atrium has acquired Orthos for a total cash consideration of 7.6 million euros (approximately US$11 million).
The acquisition of Orthos represents Atrium’s second Netherlands-based acquisition for 2008. Last February, Atrium announced the acquisition of MCO Health B.V., a leading manufacturer and distributor of nutritional supplements.
“AOV’s products will be a value added complement next to MCO Health’s flagship brand: Orthica. The Orthica brand is specifically marketed to general practitioners and dietary specialists, and sold through pharmacists and other specialised outlets; while the AOV portfolio of products are marketed and sold primarily through Complementary and Alternative Medicine practitioners and other professionals. With these two key brands, AOV and Orthica, Atrium has a solid platform from which to grow within the Benelux region. Both companies clearly provide top quality products that meet Atrium's rigorous science-based standards for health and nutritional products,” said Dr. Serge Yelle, Atrium’s Executive Vice President, Operations.