NexTech to Buy 70% Stake in VitalPath Health
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NexTech Enterprises International in Westlake Village has entered into a contractual agreement to purchase 70% of VitalPath Health Centers.
VitalPath, of Seabrook, N.H., sells nutrition, cosmetic and related products to consumers through upscale kiosks in affluent shopping malls. The purchase of this company provides NexTech with a venue to sell its nutraceutical products.
VitalPath has obtained the rights to place its kiosks in up to 44 shopping malls in New England. VitalPath President Leonard A. Ichton said each kiosk should gross $750,000 to $1 million per year, with a 25% net profit. A national roll-out in late 1999 is planned.
Ichton will remain with the company, assuming the newly created position of business unit director/COO of NexTech retail operations.
Besides Westlake Village, NexTech has facilities in Newark, N.J., and Tulsa, Okla. It produces nutraceuticals, nutritional supplements and over-the-counter pharmaceuticals.
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