Nordic Health is a Norwegian Public Limited Liability Company (ASA) incorporated under the laws of Norwegian Public Limited Companies Act on 20 June 2005 and is registered in the Norwegian Register of Business Enterprises with organization number 988 393 460.
Nordic Health develops, holds, markets, distributes, and sells a number of product lines within health and body care. The company is active in Norway, Sweden, Denmark and Finland. The company’s business concept is based on developing the mass market segments of nutritional supplements and also focusing on niche segments, where it can be a leader. These segments include energy, omega-3, joints and bones segments, immune market (antioxidants) and weight control products.
To become a leader in these segments, the company concentrates on obtaining protection from the competition in the marketplace by launching innovative, patented and scientifically documented products. Moreover, the company has established closer relationships with the leading R&D and production companies, both in USA, Asia and Europe. Nordic Health is currently working with these companies to develop their pipeline of products for the next few years.The Company is operating in constantly changing environment, where the competition is fierce, thus in order to be successful market player, Nordic Health is constantly investing into innovation and frequently putting new products up to the customers.
The Company as a whole has an experienced management team, large customer base, quality product portfolio (which is self developed within nutrition and skin care), effective sales organization (leading Nordic direct seller), and controls the whole value chain. This allows taking the lead in the Nordic industry consolidation, the trend that is more and more happening in Western Europe among nutrition supplement producers. The Company’s successful organic growth and acquisitions of value-added companies would assure the leading market positions in Northern Europe.
Principal activities
The business of Nordic Health is divided into two segments, distance marketing (DM) and network sales(NWS):
- Network sales: is based on a network of independent distributors which recruits customers and new distributors. NWS sells and distributes its products directly to its customers based on order and subscriptions provided by the distributors or from direct ordering over the internet.
- DM: is based on telemarketing, mail order, advertising and internet sales directly to the customer.
Both segments are selling healthcare products. NWS segments are also selling skincare products. The segments are not divided into product groups or product categories, but by marketing and selling channels. Both segments are based on subscriptions.
The Company produces its own products by the use of subcontractors. All products are produced according to the GMP- standard. GMP is an abbreviation for “Good Manufacturing Practice”, and it refer to that all products are produced according to established guidelines in regard to purity, labelling etc. GMP secures the quality through all steps in the production.
The total product line of the Company consists of about 60 different products, and has so far in 2008 launched 4 new products. The Company has focus on product development on well- documented products, and several more launchings are expected later this year.
Historical background and development
Nordic Health was incorporated 20 June 2005 for the purpose of becoming parent company of Shine AS and NorVital AS. Until the establishment of the Nordic Health group, Shine AS and NorVital AS had existed as separate companies.
Shine AS was incorporated in 1998.
Originally Shine’s products were related to skin- care and were marketed and sold through “home parties”.
In 2000, Shine Club was rebranded to a club- concept with health- and body care products and is today structured as a modern Multi Level Marketing (NWS)- concept.
Shine begun its business in Norway, but later expanded its activities to Sweden, Finland and Denmark.
NorVital AS was incorporated in 1999.
On 20 June 2005, the shareholders of Shine AS and Norvital AS agreed to merge their respective activities.
The merger was organized by establishing Nordic Health ASA with two 100 % owned subsidiaries, Shine AS and Norvital AS.
Shine AS and Norvital AS were merged with the subsidiaries in return for Shares in Nordic Health ASA.
In December 2006 Nordic Health purchased Eurovita AS.
Science for Life AS was established in October 2006.
Today Nordic Health acts as a holding company, which develops and distributes a number of product lines within health and body care through its subsidiaries. The Company is active in Norway, Sweden, Denmark and Finland.
The companies NorVital, Eurovita and Science for Life will be merged end of 2008.