Media Release: Eagle Health to Accelerate Geographic Expansion & Sales Growth
Eagle Health Holdings Limited (ASX: EHH) (“Eagle Health” or “Company”) is pleased to announce that it has signed two cooperation distributor agreements with Xiamen Luyan Pharmaceutical Co. Ltd (“Luyan Pharmaceutical”) and Xiamen Lianfutang Drug Store Co. Ltd (“Lianfutang Pharmacy”).
The Company will leverage these new relationships to focus on the development of distribution and accelerated sales growth in the local Chinese market and expand its sales network to effectively promote the achievement of sales performance targets.
With the expansion and coverage of the sales network, these relationships will strongly promote the overarching strategic plan of launching 100 stores in the next 18 months to reach approximately 570 million consumers (announced 31 May 2018).
In commenting on the agreement, Mr Zhang Mingwang, Managing Director and CEO of Eagle Health, said:
“The signing of these two contracts is another milestone in Eagle Health’s pharmaceutical distribution strategy.
“Ongoing growth in our distributor network is a fundamental driver in geographic expansion and market penetration. We are pleased to have formed a strong alliance with these channel leading companies.”
For further information please contact:
Rod North, Managing Director,
Bourse Communications Pty Ltd
T: +61 3 9510 8309, M: 0408 670 706
E: [email protected]
About Luyan Pharmaceutical Co. Ltd
Luyan Pharmaceutical listed on the Shenzhen Stock Exchange (SHE: 002788) is a pharmaceutical group that produces and manages health products. Luyan Pharmaceutical is one of the top 500 services companies in China, is in the top 50 Chinese pharmaceutical distributors, and is one of the top 100 enterprises in Fujian Province. It has 144 direct retail outlets in Jiuda City, Fujian Province. Luyan Pharmaceutical has been a market leader in Fujian Province for many years and has established subsidiaries in Hong Kong, Jiangxi, Sichuan and Anhui provinces.
About Xiamen Lianfutang Drug Store Co. Ltd
Lianfutan Pharmacy is a well-known pharmaceutical retail chain with a strong consumer information and digital network management platform. Their main business includes traditional Chinese medicines, Chinese herbal medicines, chemical preparations, biochemical medicines, health products and health foods. After more than ten years of development, it now has more than 50 direct sales outlets covering nearly one million customers, staffed with competent pharmacists and various medical technicians to provide professional services to customers and patients.
About Eagle Health Holdings Limited
Eagle Health is an ASX listed vertically integrated health and nutritional products business, which develops, manufactures and distributes products into 26 provinces in China. Eagle Health produces a range of traditional Chinese Medicine and Western nutritional products including amino acids, protein supplements, lozenges and dendrobium oil. Eagle Health has a GMP certified manufacturing facility and a Head Office in Xiamen, China, acting as a central hub for distribution into Chinese pharmacies, health food stores, trading companies and supermarkets. Eagle Health has a corporate and sales office in Melbourne, Australia. Eagle Health has a stated strategy of acquiring or partnering high quality Australian products for distribution into China and in 2017 a pre-meal shake for Type 2 diabetes, branded Hutang 1, was licenses from Omni Innovation in Australia.