Mauritian-listed nutraceutical company Go Life International is seeking an inward listing on the JSE’s AltX, following the acquisition earlier this year of the remaining 78% interest in Go Life Health Products.
Go Life will list on the AltX this month, subject to JSE approval.
Go Life International was established to leverage the strength of existing South African nutraceutical companies, namely Go Life South Africa, and to drive the presence of the South African products and brands across the global nutraceutical market. Nutraceuticals are products that provide nutrients through various formats.
Gotha Health Products, a subsidiary of Go Life International, has been active in promoting health support products since 2005. Operations started in the Eastern Cape and distribution has recently expanded into Gauteng and the Western Cape.
Go Life has also entered into a strategic relationship with Bon Health Frail Care, which operates frail care clinics in the Western Cape and has also acquired five properties, four of which serve as frail care clinics.
Through the inward listing, Go Life International will be able to accommodate South African investors who are currently precluded from investing in offshore structures.
Go Life South Africa reported revenues of over R10-million for the year ended February 28 and this is targeted to double by February 28, 2017, and to exceed R50-million by February 28, 2018.
Go Life South Africa currently has more than 10% market share in the Eastern Cape, where it originated, and is establishing a larger distribution footprint that covers the rest of South Africa.
The first Gotha Health Hub, which serves as a warehouse and sales hub, was opened in Port Elizabeth in late 2015, with hubs to open in Midrand, East London and Parow in early 2017.
The hubs supply and market products to chain stores, pharmacies and natural health stores. In addition, management has negotiated deals with a number of national retail stores and pharmacies.
Go Life’s products are currently sold through Alpha Pharm, a large retail pharmaceutical chain and the brand services outlets and stockists in every major town and city throughout the country. New contracts have been signed or are under negotiation with a number of major retailers, with products expected on the shelves during 2017.
Noting that the global market for health supporting products was one of the fastest-growing segments in the healthcare-related market, Go Life group founder Gerhard Naudè said pharma and healthcare expenditure was increasing, with a shift in focus from treatment to prevention, through health and wellness as a result of proper nutrition as consumers worldwide could increasingly afford to take a more proactive approach to their health.
“We are seeing great demand for natural African treatments globally, particularly from the European market. Go Life International’s products are manufactured in an established Medicines Control Council-registered production facility in South Africa and we plan to establish a research and production site in Mauritius.
“We have established marketing routes and functional distribution networks adapted to each market in South Africa, Europe and the US,” he noted.
Go Life’s products are founded on patented technologies, products, ingredients and proprietary formulas. The product range is based on a combination of selected vitamins, co-factors and minerals, as well as specific natural ingredients. These have been researched and developed by scientists and practitioners in the medical and pharmaceutical industries.