JSE-listed Go Life International and its subsidiary Go Life Healthcare have entered into two agreements with Ascendis Health, to acquire the Wellness Brands – the Biobalance, Foodstate, Osteoflex and Homeoforce brands – and 100% of the shares and claims in Sportron, Heritage Resources, Ascendis Health Direct (AHD) and K2012021382.
The total purchase consideration is R50-million and the transaction will become effective on September 10.
Sportron boasts a range of products that have been carefully formulated to help maintain overall wellness and assist in certain conditions. The Sportron range of products is a perfect fit in the cutting edge technological sphere in which Go Life operates – nutraceuticals.
Go Life will seamlessly incorporate the Sportron range into its existing range of well known, tried and tested products to create a collection of products for all members of society. This will place Go Life in the midst of the lower and higher end of the market with product ranges for South Africans from all walks of life.
Heritage is principally involved in holding registered trademarks and earning royalty income on assets. Go Life anticipates incorporating the trademarks and patents vested in Heritage into the existing collection of Go Life trademarks and patents and will better leverage the potential of the product ranges across the Go Life group of companies.
AHD is a network marketing company specialising in the health industry.
AHD is expected to be the most promising prospect of the acquisitions as it boasts an established and ever-growing network of direct sales representatives. It is anticipated that this network will dramatically escalate the sales of Go Life’s existing product range.
In addition to the South African network, there is a network of direct sale representatives operating in Nigeria. This opens Go Life to a market of 196-million people who are in dire need of accessible and affordable healthcare and supplementary health products.
Foodstate, Biobalance, Osteoflex and Homeoforce are well-known household health and care brands in South Africa.
“The acquisition will unequivocally place Go Life at the forefront of the healthcare industry in its focus areas,” the company said.