Nutrition 21’s Assets Acquired by an Investment Group led by Messrs. Philip and Michael Satow
The assets of Nutrition 21 have been acquired by an investment group led by Phillip and Michael Satow. The Company will continue to operate as Nutrition 21.
Michael Satow will serve as President and Chief Executive Officer and Phillip Satow as Chairman of the Board. Phillip and Michael together have almost 50 years of healthcare experience. Most recently, they founded and built JDS Pharmaceuticals, LLC (“JDS”), a specialty pharmaceutical company focused on the psychiatric and women’s health markets. JDS was sold in 2007 to Noven for $125 million.
Prior to JDS, Phillip was Executive Vice President of Forest Laboratories, Inc. and President of Forest Pharmaceuticals as well as a member of the Forest board of directors. Phillip also served in senior positions at Pfizer and Carter Wallace. He has served on the boards of directors of public companies, including Forest Laboratories, Inc. , Crucell Inc., Eyetech, Inc., and Noven. Prior to JDS, Michael founded and/or served as CEO of several venture backed companies as well as practicing as an attorney for five years. Michael currently sits on several private companies and non-profit boards.
Michael Satow commented, “We are very excited about the acquisition of Nutrition 21’s assets. As CEO, I am committing the Company to continuing the highest standards of quality and customer service. We intend to invest in and grow this business as well expand the Company’s range of offerings.”
Phillip Satow stated that, “The nutraceutical and functional food sectors are undergoing significant regulatory and market change. Our knowledge of the healthcare space, combined with the deep experience of Nutrition 21’s personnel will position us well for growth going forward.”
For further information, please contact Bill Levi at email@example.com.