Kaire Holdings Inc. Completes its China Acquisition Terms
LOS ANGELES--(BW HealthWire)--Feb. 23, 1998--Kaire Holdings [OTC BB:KAHI - news] Inc. (''KHI''), BBS trading symbol KAHI, announces that following its Jan. 20, 1998, press release, it has completed the basic terms at a meeting in Longmont, Colo., on Feb. 20, 1998, for the acquisition of Potomak International, a Singapore based company and its primary subsidiary Nanjing Potomak Beauty & Care Co. Ltd.
The definitive agreement for the acquisition of Potomak is scheduled for closing by Feb. 27 in Los Angeles.
Per Steve Westlund, Kaire Holdings's chairman and CEO: ''We are very pleased with this pending acquisition, our first definition to our policies for international strategic partnering. Collectively this will bring our combined number of active consumer distributors to an excess of 365,000.'' Potomak has some 300,000 distributors in mainland China and is anticipating 1998 revenue in excess of $20,000,000 U.S. dollars. In additional to mainland China, Potomak also has direct sales and import licenses covering health food and cosmetics for Taiwan, Thailand and the Philippines. Based in Los Angeles, Kaire Holdings Inc. is a diversified group of companies that collectively provide a range of products and services from non-radioactive medical contrast imaging media and laboratory support services to medical researchers studying human blood flow, to food supplements, anti-oxidants, vitamins, weight management and personal care products to the receptive growing world wide baby boomer market.
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