Nestlé adds U.S. medicine platform to personalized nutrition portfolio
2020-01-22 14:49 Wednesday
Nestlé Health Science is again shoring up its presence in the personalized nutrition and health care industry by acquiring the San Francisco-based functional medicine platform LivingMatrix.
As the food giant, which owns over 2,000 brands spanning more than 150 countries, continues to get even bigger, LivingMatrix will develop further as part of Nestlé's Atrium Professional Brands portfolio of businesses.
The system was originally designed by clinicians to make life easier for practitioners by allowing them to work more effectively with patients by creating personalized care plans and tracking health outcomes for individuals.
Atrium Innovations' chief strategic leader of, Joy Devins, said adding LivingMatrix to the portfolio of personalized medicine already represented at Atrium Innovations will further support the way patients and doctors view and use health care.
"The launch of the platform has been a critical turning point for functional and personalised medicine and now, with the support of the Atrium Innovations and Nestlé, we're looking forward to break down even more barriers," said CEO and founder of LivingMatrix, Priya Kamani. "The partnership brings opportunities to scale the business and accelerate our ability to support and drive additional research studies, to expand the evidence base for addressing chronic conditions effectively.”
The acquisition will help Atrium Innovations expand their role in personalization within the medical consumer and professional spaces, remarked Kyle Bliffert, president of the brand portfolio. "The addition of LivingMatrix allows us to take the next steps in leading the future of personalized health management. Our goal is to further scale our personalization platform by integrating LivingMatrix with our existing PureGenomics platform and healthcare provider patient management systems in the future providing the most comprehensive solution available."
Nestlé has a wide range of products that already includes coffee, confectionaries, bottled water, cereals, nutraceuticals, functional food, soups and pet food, to name a few. Three years ago, it bought up Atrium Innovations, a dietary supplements manufacturer, for U.S.$ 2.3bn.
Consumer demand for personalized nutrition has only been increasing in recent months. Nestlé acquired Persona, formally called Vitamin Packs, for an undisclosed sum and added it to Atrium Professional Brands. The company didn't reveal how much the recent acquisition of LivingMatrix was worth.
At the end of last year, Nestlé announced a partnership with the Center for Microbiome Innovation (CMI) at the University of California San Diego. This pairing is expected to enhance the company's understanding of how the microbiome affects health, a move that may lead to new products in the future.
Nestlé's has pursued an aggressive expansion policy, which will likely lead to further buyouts. The company's annual report from two years ago remarked that "small to medium-sized acquisitions can offer a cost-effective and fast way to embrace new business models or capabilities. We're also actively divesting businesses that are 'non-core' and where we've got limited ability to win."
In 2018, Nestlé generated about U.S.$ 93.4bn, according to its most recent annual report.