This Acquisition Enhances PRN Physician
Recommended Nutriceuticals' ("PRN") Product Portfolio
of Science-Based Eye Health Products
BLUE BELL,
Pa., Sept. 20, 2024 /PRNewswire/ -- Acumen
Health Holdings, LLC, a professionally recommended,
consumer-preferred dietary supplements company focused on eye
health and companion animals, announced today that its subsidiary,
PRN Physician Recommended Nutriceuticals, LLC, has entered into a
definitive asset purchase agreement to acquire the assets of the
Avenova® brand (the "Brand") and business from NovaBay®
Pharmaceuticals, Inc. (NYSE American: NBY) ("NovaBay"). The Brand
offers several products for ocular health including cleansing
sprays, absorbent wipes, and heated eye masks. The Brand's leading
product, the Avenova® Lid & Lash Cleansing Spray, is a
hypochlorous acid spray utilized to promote eye hygiene. Avenova®
products are sold through the direct-to-consumer, professional, and
retail pharmacy channels. The transaction is anticipated to close
in the fourth quarter of 2024, subject to the satisfaction of
customary closing conditions.
The acquisition of the Brand will bolster PRN's
existing portfolio and strengthen PRN's commitment to deliver
high-quality products that have a meaningful impact on patients'
eye health. PRN will leverage their existing sales force and
relationships with optometrists and ophthalmologists to expand
access and awareness of Avenova® products.
"The Brand pioneered the use of hypochlorous acid
in eyecare and has a long history of success in the professional
channel," said Scott Woodruff, CEO
of Acumen Health Holdings. "This exciting acquisition broadens
PRN's existing eye health product portfolio and allows PRN to
better serve patients through offering an expanded suite of
science-based eye health products."
The deal builds on PRN's strategy to grow its
presence in the eye health market organically and through
acquisitions. Avenova® will represent the sixth add-on acquisition
completed by PRN in the past 5 years.
Please see the NovaBay® Pharmaceuticals, Inc.
(NYSE American: NBY) press release for information regarding their
go-forward plans following this transaction.
Alex Putala
(920) 255-4972
960 Harvest Drive, Suite B250
Blue Bell, PA 19422
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SOURCE Acumen Health Holdings