Company to remain minority shareholder
Royal DSM has sold DSM Personalized Nutrition, LLC to Viocare Inc (Princeton, New Jersey, US). DSM will remain involved in the business as a minority shareholder in Viocare through DSM Venturing. Financial details of the transaction will not be disclosed.
Personalized Nutrition was an emerging business area in the innovation centre. As announced in September 2010, the focus was moved to other EBA's and Personalized Nutrition activities were to be partnered, exited or transferred to other parts of DSM. DSM Personalized Nutrition's corporate wellness business 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 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 personalise 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."