PHOENIX, Feb 22, 2005 (BUSINESS WIRE) -- Vital Living Inc. (VTLV) today announced that it has acquired 100% interest in Wellness Watchers Systems, LLC (WWS), formerly a 50/50 joint venture between Vital Living and leading health and nutrition company, Wellness Watchers International Inc. (WWI). Formed in August 2004, the joint venture was created to co-market the respective companies' proprietary nutritional and healthy food products to healthcare professionals worldwide. In consideration of the buyout from WWI, Vital Living issued WWI founders, Dr. Don and Deonn Hayes, 1,000,000 restricted common shares of Vital Living.
Associated terms and conditions of the transaction provide for Vital Living to retain exclusive right and title to proprietary software-driven health and lifestyle screening tools, a portfolio of nutritional supplements and foods, and any and all sales operating systems and concepts relating to WWS' proprietary nutritional products. Moving forward, WWS' operations, and the full complement of its product and service offerings, will be immediately integrated into Vital Living's wholly owned subsidiary, Doctors For Nutrition Inc.
Stuart A. Benson, chief executive officer of Vital Living, stated, "Since late last summer, it has become increasingly evident to us that Wellness Watchers Systems' established sales and marketing channels represent a high-growth opportunity for Vital Living, particularly when leveraging its innovative technology-driven marketing platform and sell-through strategy to cross market DFN's products directly to and through healthcare providers on a national basis. Combining WWS and DFN Vital Living creates sales and marketing synergies. Moreover, the operational and cost efficiencies realized are expected to improve Vital Living's financial performance on a consolidated basis."
About Vital Living Inc.
Headquartered in Phoenix, Vital Living develops or licenses nutraceuticals and markets them for distribution through physicians, medical groups, chiropractic offices and retail outlets. Vital Living develops and tests its nutraceuticals in collaboration with leading medical experts in the nutraceuticals field and has designed them to be incorporated by physicians into a standard physician-patient program in which patients supplement doctor-prescribed pharmaceuticals with its nutraceuticals.
Vital Living is developing unique, safe and naturally derived nutritional products, utilizing advanced drug-delivery technologies, including the Geomatrix(R) technology through its affiliation with SkyePharma PLC. The Geomatrix(R) technology has been provided exclusively for Vital Living's pharmaceutical development in China, and the development of nutraceuticals on a global basis.
For more information on the company, please visit www.vitalliving.com.
Except for any historical information, the matters discussed in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve risks and uncertainties, including activities, events or developments that the company expects, believes or anticipates will or may occur in the future. A number of factors could cause actual results to differ from those indicated in the forward-looking statements, including the company's ability to continue to successfully market and provide its products and services and maintain their effectiveness, the continuation of the arrangements with the company's product development partners, the ability of the company to meet its financial projections, and general economic conditions. Such statements are subject to a number of assumptions, risks and uncertainties. Readers are cautioned that such statements are not guarantees of future performance and that actual results or developments may differ materially from those set forth in the forward-looking statements. The company undertakes no obligation to publicly update or revise forward-looking statements, whether as a result of new information or otherwise.