Medical foods company Pamlab is being sold to Nestlé Health Science, a subsidiary of Nestlé. The sale is currently pending regulatory approval. Nestlé Health Science said that they found a strategic fit with Pamlab because the company is working on building up its Brain Health and Metabolic Health portfolio.
“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, Nestlé Health Science President and CEO. “By leveraging our nutrition heritage and US operations with Pamlab’s proven expertise in medical foods and strong sales force capabilities, together we can play a key role in helping to manage certain chronic diseases and improve the quality of patients’ lives.”
Pamlab is known for the development of prescrption pharmaceuticals addressing elevated homocysteine levels. They currently employ around 400 people. No layoffs have been announced because of the acquisition.
“We are excited to join forces with Nestlé Health Science, and we share their commitment to personalized nutrition,” said Pamlab President and CEO Eric Wingerter. “With their support, we will accelerate the development and deployment of our innovative nutritional solutions for people with chronic metabolic and neurologic conditions.”
Nestlé Health Science was formed in 2011 to deliver personalized healthcare to address chronic medical conditions through nutrition. The company employs upwards of 3,000 people and is based in Switzerland.