Nature’s Sunshine Products, Inc. a leading natural health and wellness company engaged in the manufacture and direct selling of nutritional and personal care products, today announced the closing of its previously announced China joint venture with Shanghai Fosun Pharmaceutical (Group) Co., Ltd. and private placement transaction of 2.854 million shares of common stock, representing approximately 15% of Nature’s Sunshine’s outstanding common shares, to Fosun Pharma at a price of $16.19 per share. Aggregate proceeds to Nature’s Sunshine were approximately $46.2 million.
“Our strategic alliance with Fosun Pharma is the first of its kind between a U.S. company and a Chinese company for direct selling products in China,” commented Gregory L. Probert, Chairman and Chief Executive Officer of Nature’s Sunshine Products. “Our entry into China marks the beginning of a valuable long-term partnership with Fosun Pharma, as well as a significant step forward as a global organization. As part of our go-to-market strategy, we are focused on completing the regulatory approvals process, establishing the necessary legal entities, recruiting key staff, and moving forward with products to market through a multi-brand, multi-channel approach. We look forward to working with Fosun Pharma to capture the vast opportunity ahead.”
The joint venture, known as Nature’s