February 16, 2007
Stock Purchase Agreement Between IdeaSphere Inc. And Boehringer Ingelheim GmbH
NEW YORK, Feb. 16 /PRNewswire/ -- IdeaSphere Inc. (ISI), a global health and wellness company specializing in vitamins, minerals, and other nutritional products, entered into a Stock Purchase Agreement on August 24, 2006 with Boehringer Ingelheim GmbH (BI), of Ingelheim, Germany, to acquire BI's nutritional supplement company Pharmaton SA, based in Lugano, Switzerland.
Following this morning's announcement by BI that it was terminating the August 24 Stock Purchase Agreement, Mark Fox, President and COO of ISI stated, "We are disappointed that the parties were not able to reach agreement at this time to complete the Pharmaton transaction." Mr. Fox added, "We have very much enjoyed working with our Pharmaton colleagues over the past year, and we still believe that the alliance between the Pharmaton and ISI platforms of nutritional products is the right answer for the global consumer."
"IdeaSphere remains committed to providing consumers with the highest quality nutritional products, and we are very excited about the opportunities to expand the reach of our house of brands in 2007, both domestically and internationally," said Fox.
About IdeaSphere, Inc
IdeaSphere is an innovative global company focused on delivering healthy lifestyle solutions to a broad spectrum of individuals. With more than 1,000 consumer-focused, science-based, content-driven nutrition products across a range of innovative formulations, IdeaSphere is an emerging leader in the health and wellness sector. IdeaSphere is committed to incorporating the latest medical discoveries and meticulously researched ingredients into trusted and time-tested products. The Company's portfolio of global brands includes Twinlab(R), which includes the Fuel Line of sports and nutritional supplements; Metabolife(R); Ultra Harvest(R), a premium food-based line of vitamins and minerals; Nature's Herbs(R); Alvita(R) Teas; Rebus Publishing(R); and Dr. Weil(TM) supplements. For more information, visit http://www.ideasphereinc.com/.
Web site: http://www.ideasphereinc.com/