Nova Satra Health Sdn. Bhd. a newly formed Malaysian healthcare holding company has announced that it has taken a majority control of New Zealand based functional food company Creeyan Laboratories NZ Limited.
Making the announcement, Nova Satra’s Executive Chairman Ivanna Salehudin said that Creeyan NZ Limited would be closed and a new entity, Creeyan Laboratories Sdn. Bhd. has been formed to hold all the Intellectual Property of the existing business.
A new manufacturing and research facility will be established in Kuala Lumpur to produce the existing range of products for the world market and develop new formulations.
Moving forward, Ms. Salehudin highlighted that the world market for functional foods is growing exponentially at 23% pa to USD$30.37 Billion by 2014, A result of the increasing cost of traditional pharmaceutical medicines and their long term effects, growing global awareness of health issues and associated environmental concerns.
Ms. Salehudin also said that Nova Satra will be making further announcements over the coming months as it seeks investments across the healthcare spectrum primarily in the areas of science based natural products, molecular diagnostics and web based healthcare delivery platforms.
Nova Satra will be actively looking to collaborate with foreign centres of excellence in these fields with a plan to form business relationships, which will allow Malaysia and the surrounding region not only to benefit from the latest advances in Healthcare but also become a partner in the future development of these technologies.