25 February 2021 - Deborah Wilkes
Bayer Consumer Health’s acquisition of a majority stake in the personalised vitamins, minerals and supplements (VMS) company Care/of has won the OTCToolbox Consumer Healthcare Industry (CHi) Award for Transaction of the Year.
Responding to the news that Bayer had won the CHi Award, Patrick Lockwood-Taylor – President of Bayer Consumer Health North America and Bayer US – told OTCToolbox “we’re very excited about our partnership with Care/of”.
Lockwood-Taylor pointed out that “personalised nutrition is a fast-growing space in the Nutritionals category, up to 5x faster than ‘traditional’ channels”.
“This partnership is an important milestone for both Bayer and Care/of in achieving our strategic business objectives,” he said, adding: “We believe this model and product type has the ability to expand into traditional retail channels as we aim to reach new consumers.”
“Together we plan to grow the Care/of business across new channels, new categories and new markets to deliver even more personalised nutrition,” he promised.
Judges for the CHi Award were looking for a transaction in 2020 with the power to transform a company’s consumer healthcare presence. Five of the 10 judges for the OTCToolbox CHi Award for Transaction of the Year ranked Bayer’s transaction first or second out of nine candidates.
The best in business development and innovation
The OTCToolbox CHi Awards honour the best in business development and innovation around the world.
Winners of the CHi Awards were decided by a panel of highly-experienced executives in the consumer healthcare field. The panel included representatives from Bannert Manlik Consultants, Ceuta International, Euromonitor International, Healthy Brands, IQVIA Consumer Health, Jenson R+, L4i, OTCToolbox, Plexus Ventures, Roland Berger, Sawaya Partners, TentaConsult Pharma & Med and VBM Associates, as well as Peter Burrows, Ros Munday and Andy Tisman.
Transaction of the Year was one of five CHi Awards presented during the OTCToolbox 2021 Consumer Healthcare BD&I Event on 25-26 February 2021.
- Transaction of the Year
- Business Development Team of the Year
- Innovation of the Year
- Regulatory Achievement of the Year
- Self-Care Initiative of the Year