LOS ANGELES--(BUSINESS WIRE)-- To further advance healthier living through good nutrition, premier global nutrition company Herbalife (NYSE:HLF) today announced it has entered into a framework agreement with Tasly Holding Group, a leading Chinese healthcare corporation. Herbalife Nutrition CEO, Rich Goudis; CFO, John DeSimone; and Chairman of Herbalife China, Dr. Qun Yi Zheng, joined Chairman of Tasly Holding Group, Xijun Yan; Executive Chairman, Kaijing Yan; CFO, Fucai Pei; and General Manager of Tasly's International Strategic Investment and M&A, Dr. Lei Gao, for the signing ceremony of a framework agreement, which pending approval by the Chinese regulatory agencies, will lead to the formation of a joint venture between Herbalife Nutrition and Tasly in the United States. This joint venture is anticipated to create a conduit to develop and commercialize high-quality consumer health products based on Tasly's deep portfolio of formulations, patents, and clinical studies, while leveraging Herbalife Nutrition's scientific, regulatory and commercial development expertise. Moreover, Herbalife Nutrition expects its worldwide network of independent distributors to provide an opportunity to bring the joint venture's products to a global market.
"We are honored to form a joint venture with Tasly, a leading developer of health products and services in China. Our philosophies of improving the wellness of our communities are completely aligned and we expect this new joint venture will significantly expand the distribution of important nutrition products around the globe," said Rich Goudis.
Herbalife Nutrition began China operations in 2005 and now operates three facilities in Nanjing, Changsha, and Suzhou, currently producing 60 million units annually. The Company is licensed to operate in 28 provinces, employs more than 1,300 people in China, and has approximately 60,000 service providers, and approximately 270,000 sales representatives.
Kaijing Yan said, "We believe the combination of Tasly's research and development capabilities, clinical trial skills and Herbalife's global distribution network outside of China, along with the two firms' high-end quality control standards, will bring the best health products to consumers."
Tasly manages a broad spectrum of leading consumer products, health services and distribution channels in China. As a pioneer of TCM modernization, Tasly, through innovations in standards and technologies, has created a manufacturing and development process and set up a comprehensive, standardized and digital system which produces high-quality consumer health products.
About Herbalife Nutrition
Herbalife Nutrition is a global nutrition company whose purpose is to make the world healthier and happier. The Company has been on a mission for nutrition - changing people's lives with great nutrition products & programs - since 1980. Together with our Herbalife Nutrition independent distributors, we are committed to providing solutions to the worldwide problems of poor nutrition and obesity, an aging population, skyrocketing public healthcare costs and a rise in entrepreneurs of all ages. We offer high-quality, science-backed products, most of which are produced in Company-operated facilities, one-on-one coaching with an Herbalife Nutrition independent distributor, and a supportive community approach that inspires customers to embrace a healthier, more active lifestyle.
Our targeted nutrition, weight-management, energy and fitness and personal care products are available exclusively to and through dedicated Herbalife Nutrition distributors in more than 90 countries.
Through its corporate social responsibility efforts, Herbalife Nutrition supports the Herbalife Family Foundation (HFF) and its Casa Herbalife programs to help bring good nutrition to children in need. The Company is also proud to sponsor more than 190 world-class athletes, teams and events around the globe, including Cristiano Ronaldo, the LA Galaxy, and numerous Olympic teams.
The company has over 8,000 employees worldwide, and its shares are traded on the New York Stock Exchange (NYSE: HLF) with net sales of approximately $4.5 billion in 2016. To learn more, visit Herbalife.com or IAmHerbalife.com.
The company also encourages investors to visit its investor relations website at ir.herbalife.com as financial and other information is updated and new information is posted.
Incorporated in 1994, Tasly Holding Group is a high-tech healthcare corporation with headquarters in Tianjin, China, with company philosophy of "seeking for harmonization between human and nature, and improving humankind's life quality" and company mission "to share the joy of health with all". Tasly Holding Group conducts several businesses under its subsidiaries, including pharmaceuticals, pharmacies, health services and health management, and consumer health products. Among them, Tasly Pharmaceutical Group is a listed subsidiary of Tasly Holding Group, which conducts pharmaceutical research and development, manufacturing, marketing and distribution business covering Modern TCM, Chemical, and Biological products. Apart from that, some other subsidiaries focus on consumer health products from raw material cultivation all the way to finished product marketing and selling. Tasly has an extensive marketed product line and pipeline supported by strong patent portfolio. With enormous efforts on technology innovation, Tasly has also created an industrialized platform for product innovation and digitalized intelligent manufacturing. The company has over 20,000 employees worldwide. The Tasly website contains a significant amount of information about the company and its products at https://en.tasly.com/.
This release contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Although we believe that the expectations reflected in any of our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and to inherent risks and uncertainties, such as those disclosed or incorporated by reference in our filings with the Securities and Exchange Commission. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking statements include, among others, the following:
- our relationship with, and our ability to influence the actions of, our Members;
- improper action by our employees or Members in violation of applicable law;
- adverse publicity associated with our products or network marketing organization, including our ability to comfort the marketplace and regulators regarding our compliance with applicable laws;
- changing consumer preferences and demands;
- the competitive nature of our business;
- regulatory matters governing our products, including potential governmental or regulatory actions concerning the safety or efficacy of our products and network marketing program, including the direct selling markets in which we operate;
- legal challenges to our network marketing program;
- the consent order entered into with the FTC, the effects thereof and any failure to comply therewith;
- risks associated with operating internationally and the effect of economic factors, including foreign exchange, inflation, disruptions or conflicts with our third party importers, pricing and currency devaluation risks, especially in countries such as Venezuela;
- uncertainties relating to interpretation and enforcement of legislation in China governing direct selling and anti-pyramiding;
- our inability to obtain the necessary licenses to expand our direct selling business in China;
- adverse changes in the Chinese economy;
- our dependence on increased penetration of existing markets;
- any material disruption to our business caused by natural disasters, other catastrophic events, acts of war or terrorism, or cyber-security incidents;
- contractual limitations on our ability to expand our business;
- our reliance on our information technology infrastructure and outside manufacturers;
- the sufficiency of trademarks and other intellectual property rights;
- product concentration;
- our reliance upon, or the loss or departure of any member of, our senior management team which could negatively impact our Member relations and operating results;
- U.S. and foreign laws and regulations applicable to our international operations;
- uncertainties relating to the United Kingdom's vote to exit from the European Union;
- restrictions imposed by covenants in our credit facility;
- uncertainties relating to the application of transfer pricing, duties, value added taxes, and other tax regulations, and changes thereto;
- changes in tax laws, treaties or regulations, or their interpretation;
- taxation relating to our Members;
- product liability claims;
- our incorporation under the laws of the Cayman Islands;
- whether we will purchase any of our shares in the open markets or otherwise; and
- share price volatility related to, among other things, speculative trading and certain traders shorting our common shares.
We do not undertake any obligation to update or release any revisions to any forward-looking statement or to report any events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as required by law.
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Source: Herbalife Nutrition
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