Herborium signs Lol to be acquired by China Health Resource

New Jersey, USA-based botanical therapeutics company Herborium (Pink Sheets: HBRM) says it has signed a Letter of Intent with China Health Resource (OTCBB CHRI) for the sale of up to a 100% interest in Herborium.

Agnes Olszewski, chairman and chief executive of Herborium, stated: "Both companies share the mission to bring botanical therapeutics (natural medicinal products) based on modernized Traditional Chinese Medicine (TMC) to the mainstream of health care. The world market for botanical drugs is over $500 billion and the time for this move cannot be better as market and regulatory changes in the healthcare sector create rapid growth opportunities. To take advantage of those changes a complex expertise is necessary and Herborium posses such unique expertise.”

Dr Olszewski added: "By combining Herborium marketing, clinical and regulatory competencies and its proprietary product portfolio with CHRI manufacturing capabilities, and market access in China we have an opportunity to create a leader in botanical therapeutics sector. We are looking forward to commence the due diligence and negotiation process leading to successful completion of this transaction."