QUEBEC, Sept 11, 2006 /PRNewswire-FirstCall via COMTEX/ -- Atrium Biotechnologies Inc. ("Atrium" or "the Company," TSX: ATB) is pleased to announce the acquisition, effective today, of the assets of London, Ontario based Douglas Laboratories Canada ("DL Canada"). DL Canada has been marketing Douglas Laboratories products in Canada since 2000 and has current annual revenues of approximately $5 million.
"This acquisition provides Atrium with a platform to develop the Canadian healthcare professional market not only for the Douglas Laboratories brand but also for the Pure Encapsulations brand which is not currently being sold in Canada. This acquisition further reinforces our current leadership position in North America and marks another step in our strategy to control access to markets and build solid organic growth for our brands," stated Richard Bordeleau, President of Atrium's Health & Nutrition Division.
In addition, Atrium will be able to benefit from the expertise and support of DL Canada's current management and staff who are staying on to ensure the successful integration and to sustain its growth. Their operational and marketing expertise, as well as their excellent knowledge of the Canadian nutritional supplement market will be a valuable asset to Atrium.
"Our company has been focused on growing the Douglas Laboratories' business in Canada. We are convinced that under Atrium's leadership we will accelerate our growth and we are very optimistic about the future especially with the synergies created by combining our companies", concluded Dr. Victoria Coleman-Kay, President of DL Canada.
About Douglas Laboratories Canada
Douglas Laboratories Canada has been marketing Douglas Laboratories products in the Canadian healthcare professional market since 2000. DL Canada directly markets some 100 products to approximately 1000 Canadian healthcare practitioners, such as chiropractors, naturopaths, nutritionists and osteopaths.
Atrium Biotechnologies Inc. is a leading developer, manufacturer and marketer of science-based products for the cosmetics, pharmaceutical, chemical and nutrition industries. Atrium focuses primarily on growing segments of the health and personal care markets which are benefiting from the trends towards healthy living and the ageing of the population. Atrium markets a broad portfolio of active ingredients, specialty chemicals and health and nutrition finished products through its highly specialized sales and marketing network in more than 40 countries, primarily in North America, Europe and Asia. Atrium has 500 employees and operates three manufacturing facilities. Additional information about Atrium is available on its Web site at www.atrium-bio.com.
Cautionary Note and Forward-Looking Statements
This press release contains certain forward-looking statements with respect to the Company. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by these forward-looking statements.
The Company considers the assumptions on which these forward-looking statements are based to be reasonable, but cautions the reader that these assumptions regarding future events, many of which are beyond its control, may ultimately prove to be incorrect since they are subject to risks and uncertainties that affect the Company. For additional information with respect to these and other factors, see the Prospectus for our Initial Public Offering (Management Discussion and Analysis) filed with Canadian securities commissions. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by law.