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Health & Fit Bayer to Buy Vitamin Company Care/Of for $225 Million

17:11  01 september  2020
17:11  01 september  2020 Source:   msn.com

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Bayer AG has agreed to buy online vitamin and health supplement company Care / of . Bayer is acquiring 70% of the four-year-old business in a transaction that values the company at $ 225 million , according to a person familiar with the matter. Bayer will have an option to buy the rest by 2022, said

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(Bloomberg) -- Bayer AG agreed to buy online vitamin and health supplement company Care/of as the German drugmaker aims to expand its nutrition business.

The Bayer AG logo sits on banners outside the Bayer CropScience AG research and development facility in Frankfurt, Germany, on Monday, July 13, 2020. Germany’s economy continues to recover following the easing of coronavirus-related restrictions, but remains well below capacity, according to a government report. © Bloomberg The Bayer AG logo sits on banners outside the Bayer CropScience AG research and development facility in Frankfurt, Germany, on Monday, July 13, 2020. Germany’s economy continues to recover following the easing of coronavirus-related restrictions, but remains well below capacity, according to a government report.

Bayer is acquiring 70% of the four-year-old business in a transaction that values the company at $225 million, according to a person familiar with the matter. Bayer will have an option to buy the rest by 2022, said the person, who asked to not be identified because the terms of the transaction are private.

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Pharmaceutical powerhouse Bayer has agreed to buy a 70% stake in Care / of that values the startup at $ 225 million , according to Bloomberg. Bayer will reportedly be able to purchase the remainder of the company by 2022. New York-based Care / of , which sells customized vitamin and supplement

Bayer 's broad product portfolio includes many world-famous brands which have shaped the iconic Bayer brand. Bayer is an innovation company with a more than 150-year history. Products. With our distinctive knowledge of people, animals and plants, we focus on the areas of health care and

The German company is seeking growth from new sources in an effort to move on from a $1.6 billion settlement of litigation over its Essure contraceptive device and an $11 billion deal to resolve cases involving its Roundup weedkiller.

Bayer shares rose as much as 1% Tuesday morning in Frankfurt.

The deal is an “important milestone” for both Bayer and Care/of, said Bayer spokesman Dan Childs, who declined to comment on the terms.

“We believe this model and product type has the ability to expand into traditional retail channels as we aim to reach new consumers,” Childs said in a statement. “Together we plan to grow the Care/of business across new channels, new categories and new markets to deliver even more personalized nutrition.”

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The two companies said Bayer would receive .3 billion in cash and .3 billion worth of Elanco stock based on a price of .60 per share, the 30-day Elanco said the stock amounted to 68 million shares, or a stake of about 18.2% based on Refinitiv data, but the number of shares could rise or fall

Health & Personal Care Household Supplies Vitamins & Diet Supplements Baby & Child Care Health Care Sports Show details. Buy the selected items together. This item: Bayer Genuine Aspirin (500 Ct.) Page 1 of 1 Start overPage 1 of 1. This shopping feature will continue to load items when the

A representative for Care/of didn’t immediately respond to a request for comment.

Care/of was founded in New York City by Craig Elbert and Akash Shah in 2016, according to its website. The company sells vitamin subscriptions as well as accessories such as reusable drink bottles and coffee cups. It was valued at $156 million in 2018 after raising funds from investors including Goldman Sachs Group Inc.’s venture capital unit.

The purchase comes after Bayer agreed to buy British women’s health biotech Kandy Therapeutics Ltd. in a $875 million deal this month.

The transaction is another example of investors’ increasing appetite for digital-health businesses in the midst of a global pandemic. Telemedicine company Hims Inc., which sells wellness and health-care products, is in talks to go public through a merger with blank-check company Oaktree Acquisition Corp. Earlier this month, Teladoc Health Inc. said it was acquiring Livongo Health Inc. for about $18.5 billion.

This fruit is best for vitamin C

  This fruit is best for vitamin C Vitamin C is an essential part of a healthy diet. Bodies cannot make vitamin C or store it well, though, so humans need to get the daily recommended amount through foods. Fruits and vegetables are the best sources of vitamin C, but which one packs the biggest punch? Heart Healthy Foods to Add to Your Diet According to the National Institutes of Health, the recommended daily dietary allowance of vitamin C for adults 19 years and older is 90 mg daily for men and 75 mg for women. Most people think of citruses, especially oranges, when it comes to vitamin C, but plenty of vegetables have high amounts of it too.

Covered by the Bayer HealthCare LLC – Consumer Health 60-Days Satisfaction Guarantee. These vitamins look different than the last bottle, but I called Bayer and the rep explained that they I went through a whole bottle of this, and actually bought a second bottle, before I realized that the amount

Bayer is an innovation company with a more than 150-year history. Our scientific successes are intended to help improve people’s lives. Products. With our distinctive knowledge of people, animals and plants, we focus on the areas of health care and nutrition.

(Updates with shares in fourth paragraph)

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