PRINCETON, N.J.--(BUSINESS WIRE)--Royal DSM N.V. and Viocare, Inc. announced today that DSM has sold its Personalized Nutrition Business to Viocare and also made an equity investment in Viocare through its Corporate Venturing unit, DSM Venturing, to advance Viocare’s leadership position as a supplier of platform technology for the global wellness market.
Under the terms of the agreement, DSM has invested capital as well as the technology resources and business operations of DSM Personalized Nutrition, LLC, focusing on the global corporate wellness market, in return for a Series A Equity ownership position in Viocare.
DSM Personalized Nutrition’s corporate wellness business, currently serving more than 3000 employees globally, will become part of Viocare’s operations, and a representative of DSM Venturing will join Viocare’s Board of Directors.
Rob van Leen, Chief Innovation Officer of DSM, commented: “Our second investment in Viocare in conjunction with the divestment of our corporate wellness business allows Viocare to further expand and mature this business, while concurrently enabling Viocare to continue to advance its leadership position as a supplier of scientifically validated software tools for the nutrition and wellness community.”
Rick Weiss, Founder and President of Viocare said: “This investment further validates our vision that by deploying technology solutions that personalize diet and fitness recommendations based upon the latest scientifically validated advancements in nutrition and behaviour change we can make a real difference in the long term health and wellness of the global population.”
Royal DSM N.V. is a global science-based company active in health, nutrition and materials. By connecting its unique competences in Life Sciences and Materials Sciences DSM is driving economic prosperity, environmental progress and social advances to create sustainable value for all stakeholders. DSM delivers innovative solutions that nourish, protect and improve performance in global markets such as food and dietary supplements, personal care, feed, pharmaceuticals, medical devices, automotive, paints, electrical and electronics, life protection, alternative energy and bio-based materials.
Viocare, Inc. is a privately-held company dedicated to improving global wellness. Working for 15+ years with leading institutions and leveraging more than $10M in National Institutes of Health funded research, Viocare brings the benefits of cutting edge knowledge in the nutrition, physical activity and behavior change disciplines to the development of breakthrough technology solutions that serve the wellness industry. Viocare provides wellness and nutrition-based technology platforms for corporate, community and health care provided wellness programs.