Easton Pharmaceuticals (OTC:EAPH) signed a letter of intent for the acquisition of Israeli therapeutics company Herbs of Kedem.
As quoted in the press release:
Herbs of Kedem is an Israeli based company with sales in excess of $2,200,000 US and healthy profit margins with a current net profit of approximately $1,500,000 US with minimal marketing exposure. Herbs of Kedem currently has a total of 10 adult skin care and anti-aging products, 5 hair care and hair loss products, 4 foot and nail care products, 16 skin care products, 6 respiratory tract treatment products and 4 food supplement products. Herbs of Kedem therapeutic natural products with its main ingredients being sourced from the Dead Sea and with distribution channels through many European and recently forged North American distributors, Easton believes the revenue capabilities of these products can grow exponentially as the quality is unmatched. Most of the products including its hair restoration product to treat male pattern baldness have undergone clinical trials. Easton expects to soon announce testing and sales trials of certain products in select stores at a Canadian Retail Pharmacy Chain, Shoppers Drug Mart, with over 1,253 locations in Canada. Additional updates on the proposed acquisition of Herbs Of Kadem will be announced as they become available.