INDIA – The organic foods and products company, Organic India is eyeing a 20-40% stake in NutriHealth, a personalized nutrition management services provider, according to Economic Times India.
Citing a person familiar with the matter, ET Retail reported that the Delhi-based NutriHealth and Organic India have already signed a term sheet for the deal.
Acquisition of NutriHealth will help Organic India extend its focus on health and wellbeing as the former uses technology to resolve issues like weight management, and prevention and treatment of lifestyle related disorders.
Organic India is an organic food and supplements firm controlled by ethnic wear retailer Fabindia.
Fabindia acquired 51% stake in Lucknow-based Organic India in 2013 that sells products such as tulsi tea, ghee, chyawanprash, coconut oil and natural sweetener Stevia.
Online health platform
NutriHealth provides personalised nutrition management services through voice, video, and app with extensive investment in modern technology.
It has a tele-nutrition centre with over 175 people including doctors, nutritionists and technologists advising clients.
It has serviced 50,000 customers till date and manages over 2,000,000 calls every month with the help of a mobile app, called YuWow.
In 2016, NutriHealth received Series A funding of US$1.74 million from Singapore-based OneHealth Ventures.
It has been promoting the concept of nutrigenomics, a combination of modern medicine techniques and Ayurveda principles, in preparing personalised diet programmes.
Given that health and wellness is a fast growing industry in India, Organic India is reportedly expecting a US$50.96 million turnover by fiscal 2020 with the demand for organic products increasing steadily.
It was founded in 1997 by a former Osho disciple Yoav Lev and his wife Bhavani.