Nestle to buy US medical foods company Pamlab to bolster health and nutrition business
26 Feb 2013
Nestle SA today agreed to buy US medical foods company Pamlab Inc, the latest in a series of recent acquisitions by the Swiss food giant to bolster its health and nutrition business.
Nestle did not disclose the financial terms of the deal, but said the acquisition was carried out by its fully-owned subsidiary Nestle Health Science.
Founded in 1987 and based in Louisiana, Pamlab has an innovative portfolio of medical food products for use under medical supervision in the nutritional management of patients with mild cognitive impairment, depression and diabetic peripheral neuropathy.
Pamlab's portfolio includes Metanx, one of its key products for diabetes patients that helps them restore the metabolic processes associated with peripheral neuropathy.
Pamlab also makes Deplin, a medical food that provides necessary nutritional support for certain people on prescribed antidepressant therapy for clinical depression.
In addition, the company produces CerefolinNAC, a medical food to help address distinct metabolic nutritional needs associated with mild cognitive impairment.
"The acquisition of the Pamlab business is aligned with our strategic ambition to provide science-based nutritional solutions for people with chronic medical conditions," said Luis Cantarell, president and chief executive of Nestle Health Science.
