Eagle Health Signs Strategic Collaboration Agreement
Eagle Health Holdings Limited (ASX: EHH) (“Eagle Health” or “Company”) is pleased to announce that on August 9, 2018, the Company signed a collaboration agreement with Shenzhen Zhongyuan Pharmaceutical Co., Ltd. (Zhongyuan), which will see the companies collaborate on key product categories including traditional Chinese medicine TCM), imported health products, chronic disease nutrition and meal replacement foods.
Zhongyuan was established in 2001 and has developed rapidly to 93 pharmacies, including 13 directly operated stores. The company has nearly 300 employees, including more than 30 licensed pharmacists. Through this collaboration Eagle Health will further increase penetration of the Guangdong province market via Zhongyuan’s sales network, which reaches more than 110 million consumers.
The collaboration will also support the launch of Eagle Health’s Education and Experience stores in the Guangdong province. Eagle Health’s current seven Education and Experience stores are located in Xiamen, a city in the Fujian province, north-east of the Guangdong province. On 31 May the Company announced the strategic plans to roll out its Education and Experience stores along the east coast of China.
Mr Zhang Mingwang, CEO of Eagle Health, said:
“The signing of this collaboration agreement marks the formal establishment of a long-term strategic partnership between Eagle Health and Zhongyuan. The two companies complement each other with Eagle Health’s modern and growing product range, strong Australian connections and Zhongyuan’s deep market penetration.”
“As part of the collaboration agreement signing, Eagle Health was pleased to have provided Zhongyuan staff with a one-and-a-half-day professional training on the range of Eagle Health products including Eagle Health’s new range of 50 TCM products.”
Over the next 18 months Eagle Health will open 100 Education and Experience stores with a coverage of approximately 570 million consumers and continue to expand both provincially and drive deeper market penetration through similar relationships.
The Company will update the market on future market expansion plans in due course.
About Eagle Health Holdings Limited
Eagle Health Holdings Limited is a vertically integrated consumer health and nutritional products business which develops, manufactures and distributes its product range across 26 provinces in China. Eagle Health produces a range of traditional Chinese and Western nutritional and dietary supplements including amino acids, protein supplements, lozenges and dendrobium. The Company distributes its products through a broad range of channels, including pharmacies, health food stores, trading companies, supermarkets and online stores.
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Rod North, Managing Director,
Bourse Communications Pty Ltd
T: +613 9510 8309, M: +61 408 670 706,