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Eagle Health Holdings Ltd to target 200,000 foot spas in China

Published: 09:00 10 Jul 2017 AEST

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The estimated first year business is $1.5 million

Eagle Health Holdings Ltd (ASX:EHH) has signed an agreement with Biovite Australia to distribute Biovite’s anti-fungal products throughout the extensive foot spa industry in China.

Biovite’s dermatological range of efficacious anti-fungal products will be distributed under Eagle’s dedicated Australian sourcing brand, Ecological Valley.

The company is planning to target circa 200,000 foot spas in China.

Eagle is primarily engaged in manufacturing and marketing health food products and dietary supplements in China.

The company is chaired by former Federal Sports and Tourism Minister Andrew Thomson, who was the Federal MP from 1995 to 2001 in the seat of Wentworth in Sydney's eastern suburbs.

The new agreement is part of Eagle’s strategy to leverage “clean and green” Australian ingredients and brands into the China market through its extensive network of pharmacies and other retail outlets.

This is the first of a number of such distribution arrangements that Eagle is working on.

As part of the agreement with Biovite, Eagle will have exclusivity over the foot spa channel with the ability to sell products via all other channels except online.

The estimated unit volume for the first year is 250,000 units worth circa $1.5 million and rising to 800,000 units worth $4.8 million, from the fourth year onward.

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