Nutritional Growth Solutions Ltd (ASX:NGS), a global nutrition company that creates scientifically formulated and clinically proven supplements to support growth development in children, has surpassed US$500,000 in wholesale sales for its Healthy Height® shake range in Italy since its debut in March this year.
Over the three-month period, Nutritional Growth Solutions has received revenue from three purchase orders totalling US$508,000 from its exclusive distribution partner in the region, Dicofarm, who distributes Healthy Height® under the name “Dico Up” to pharmacies and health food stores, nationally.
Italy was chosen as a launchpad into the European market due to the country’s large child population of 8.2 million under the age of 14. Dico up has been assigned an insurance billing code in Italy that allows for buyers to submit claims for reimbursement from health insurers.
Liron Fendell, CEO and Managing Director of NGS said, “To surpass US$500,000 in wholesale sales in three months, in a new region, is a big milestone for our company and shows there is a genuine need for nutritional products that support growth development in children.
“Our patented Healthy Height® formula was developed over 20 years by leading paediatric specialists from the world-renowned Schneider Children’s Medical Center in Israel and is clinically proven to improve growth in children through shakes and foods that contain specific key nutrients needed for growth development.
“We look forward to expanding our footprint in Europe to assist even more children reach their height potential.”