OptiBiotix Health invests £75,000 in The Health Weight Loss Company

3rd Jan 2017 09:54

(ShareCast News) - AIM-listed life science company OptiBiotix Health has increased its investment in its subsidiary, The Health Weight Loss Company, to support marketing and increase stock levels.The company made a £75,000 investment, which increases its stake in The Health Weight Loss Company to 64% after buying a majority shareholding in July 2016.The Health Weight Loss Company's Gofigure and Slimbone products incorporates OptiBiotic's ingredients that supports weight loss.Since the company's investment in July 2016, the subsidiary has gained over 1,000 customers, retail listing in over eight stores and four distributorships in the UK and Iceland.The increased investment will be used to invest in product marketing, provide marketing support and increase the number of retail listings, particularly large retailers selling GoFigure in the UK and abroad.Chief executive Stephen O'Hara, said: "We are really pleased with the progress of The Health Weight Loss Company and the rapid sales growth of its GoFigure products which have shown the unique ability of our SlimBiome technology to help customers lose weight without feeling hungry, leading to easier and more successful dieting."I am sure investors will recognise that given the early success of GoFigure products, which has been achieved without any marketing, there is potential for strong sales growth of GoFigure products over the next few years and substantial value enhancement."Shares in OptiBiotix Health were up 1.31% to 61.80p at 0952 GMT.