Nestles buys US medical firm Pamlab
(02-26 17:13)
Swiss food giant Nestle said Tuesday that it had acquired Pamlab, a US-based company specialised in medical nutrition, as the company pushes further into what it considers a growth segment.
Nestle, which did not disclose the value of the deal, said the acquisition was carried out by its fully-owned subsidiary Nestle Health Science, AFP reports.
Medical nutritions is one of Nestle's growth-drivers and the Pamlab acquisition follows several buys in the field in 2012, including the purchase of Acera, a US company that specialises in nutrition for patients with Alzheimers disease.
"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, in a statement.
"Pamlab will particularly strengthen our brain health platform and provide us an additional foothold in metabolic health in the US,'' he added.
Pamlab's portfolio includes product formulated to meet the nutritional requirements of patients with diabetes to help restore the metabolic processes associated with the condition of peripheral neuropathy.
The serious condition is common among those with Type 2 Diabetes, where the patient's peripheral blood flow has been compromised and their nerves damaged.
Founded in 1987 and based in Louisiana, Pamlab employs 300 people.
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