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Nestle Expands Health Science Business With US Acquisition

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Nestle Expands Health Science Business With US Acquisition

Nestle Expands Health Science Business With US Acquisition
May 27
10:38 2011

Nestle Health Science has agreed to acquire Prometheus Laboratories, a San Diego-based company. Prometheus specialises in diagnostics and in-licensed specialty pharmaceuticals in gastroenterology and oncology, and has a dedicated team of highly qualified medical sales representatives. The company focuses on conditions such as inflammatory bowel diseases, including Crohn’s disease and ulcerative colitis. The terms of the transaction, which is subject to regulatory approval, are not being disclosed.

The deal is in line with Nestle Health Science’s ambition of pioneering science-based nutritional solutions to deliver improved personalised health care for medical conditions.

“This acquisition is a strategic move into gastrointestinal diagnostics,” points out Luis Cantarell, president and chief executive of Nestle Health Science. “Prometheus’s leading edge diagnostics and highly experienced medical sales representatives together constitute a robust platform for Nestle Health Science to accelerate its current and future healthcare business. It will enable new personalised healthcare solutions based on diagnostics, pharma and nutrition.”

Prometheus’s strong expertise and R&D in gastrointestinal diagnostics will accelerate the research program that is being established in the newly-created Nestlé Institute of Health Sciences. It will create new opportunities for developing personalised nutrition strategies that will help in the management and prevention of chronic health conditions. The R&D pipeline will encompass other areas of strategic interest for Nestle Health Science, such as metabolic conditions and brain health.

About 500 employees of Prometheus will join Nestle Health Science as a result of the acquisition. In 2012 Prometheus’s annualised sales are expected to be around $250 million.

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