CAPE TOWN, South Africa,
Aug. 02, 2011 /PRNewswire/ -- Vantage
Health (OTC:BB – ticker symbol VNTH), ("Vantage"), announced today
that its 51% owned South African subsidiary, Moxisign (PTY) Ltd.,
("Moxisign"), is finalizing a pricing structure for a Supply
Agreement with the generic pharmaceutical division of a major
Johannesburg Stock Exchange listed retail group. The umbrella
Supply Agreement, ("contract") with the various appendices
detailing each pharmaceutical product to be supplied is expected to
be fully executed before the end of September, 2011. Because of the
time required to have each of Moxisign's drug dossiers registered
with South Africa's Medicine
Control Council ("MCC") before supply can begin, the contract is
expected to run from January 2013 for
a renewable five year term, and will cover various generic
pharmaceutical products. As such, and subject to the final Supply
Agreement being executed by all relevant parties, revenues from
this contract will only be generated once MCC approves each drug
dossier. The contract provides for additional generic drugs to be
added by Moxisign for the duration of the contract term.
Dr. Lisa Ramakrishnan, President
and CEO of Vantage Health, noted: "It has always been our intention
to have our Moxisign subsidiary focused on the South African
private sector as an adjunct to its public sector efforts. In terms
of volume potential, we had, as one of our main priorities, the
goal of partnering with an established and significant South
African retail entity."
About Vantage Health
Vantage Health is an African based health care products and
medical consumables supply company focused on building its core
supply business through government and local partnerships, and
alleviating the burden of HIV/AIDS and disease on the African
continent. The company currently has two subsidiaries, Moxisign
(PTY) Ltd., a South African entity 49% owned by Kopano Ke Matla
Investment Company, the investment arm of the Congress of South
African Trade Unions ("COSATU"), and Vantage Health Tanzania
Limited, 49% owned by Tanzanian investors. Vantage Health intends
to create a healthcare company with a dominant presence in sub
Saharan Africa in the pharmaceutical/medical supply and
manufacturing sectors, as well as the construction of hospitals,
maternal obstetric units, and clinics.
Safe Harbor Statement
This press release contains forward-looking statements that
involve risks, uncertainties and assumptions that, if they never
materialize or if they prove incorrect, could cause the Company's
results to differ materially from those expressed or implied by
such forward-looking statements. All statements other than
statements of historical fact are statements that could be deemed
forward-looking statements, including any projections of earnings,
revenue, or other financial items, any statements of the plans,
strategies, and objectives of management for future operations, any
statements concerning proposed new products, services or
developments, any statements regarding future economic conditions
or performance, statements of belief and any statements of
assumptions underlying any of the foregoing. These statements are
based on expectations as of the date of this press release. Actual
results may differ materially from those projected because of a
number of risks and uncertainties, including those detailed from
time to time in the Company's reports filed with the Securities and
Exchange Commission. The Company assumes no obligations and does
not intend to update these forward-looking statements.
Vantage Health is a US company (OTC:BB – ticker symbol VNTH)
recently incorporated and public since February 2011 with the goal of providing
healthcare related products and services in sub Saharan Africa.
For more information about Vantage Health, please contact:
Dr. Lisa Ramakrishnan / Karen Sylvester
Tel: +27 (0) 21 813 6863
Fax: +27 (0) 86 604 7593
ceo@vantagehealth.co.za
www.vantagehealthgroup.com
SOURCE Vantage Health