CAPE TOWN, South Africa,
July 25, 2011 /PRNewswire/ -- Vantage
Health (OTC:BB – ticker symbol VNTH), ("Vantage", "Company"),
announced today that it has been invited by the Ministry of Health
for the Kingdom of Swaziland to
plan the construction of a pharmaceutical manufacturing facility in
that country. Swaziland's Minister
for Health, Mr. Benedict Xaba,
reiterated in his letter to Vantage Health, that "…Should you
expedite your interest, we will enter into off take agreements for
the pharmaceuticals produced in the newly established Swaziland pharmaceutical plant." The Minister
also confirmed that the Kingdom would assist Vantage and its
technology partners "with all relevant regulatory required
processes regarding the successful implementation of this most
important project…".
Following Vantage's recent entrance into the Tanzanian
healthcare space through its 51% ownership of Vantage Health
Tanzania Limited, the Company intends to immediately establish an
additional majority owned subsidiary in Kingdom of Swaziland, in line with its pan-African Plan
for Expansion. In addition to the Company's intentions to construct
a manufacturing/formulation facility, the Minister of Health
indicated in his letter to Vantage his government's commitment to a
BOOT ("Build, Own, Operate, Transfer") transaction with the Company
and its local and technology partners to build a referral hospital
in Swaziland.
Separately, it is the intention of Vantage to actively
participate in additional government tenders for other essential
medicines, medical supplies, medical equipment and consumables,
certain of which qualify for external donor funding.
Dr. Lisa Ramakrishnan, President
and CEO of Vantage Health, said: "Having only recently established
our business models in South
Africa and Tanzania, we are
once again very excited to be planning the creation of a new
healthcare entity in the Kingdom of Swaziland, with the support of that country's
government. Many countries in sub-Saharan Africa have significant
gaps in their healthcare infrastructure and citizens of these
countries continue to suffer as a result of poor access to good
quality healthcare. This is a problem that needs to be urgently
addressed. We look forward to working with Minister Xaba and his
team at the Swaziland Ministry of Health and others in the
Swaziland private sector, to
assist in providing solutions in the Swaziland healthcare space. Vantage's entrance
into this market signals the fact that we will continue to expand
both our footprint, and partnerships in sub Saharan Africa. As a
new public company since February
2011, Vantage Health has the responsibility of utilizing a
business model that it believes will return shareholder value at
the earliest opportunity. It is my belief that the partnerships and
presence we are creating on this continent at this exciting time in
Africa's history are critical in
terms of recognizing the 'first to market' imperative. In every
location that we establish a new line of business, we seek to
create an early revenue stream with the goal of significantly
growing our top line sales on a consolidated basis, as well as
achieving the necessary economies of scale that will also boost the
future growth of our operating margins. I am often asked whether
the countries with which we interact have the financial resources
to underwrite pharmaceutical purchases and other healthcare related
projects: It is important to note that certain African countries,
although perhaps lacking the internal financial resources to fund
healthcare development relative to the budgets of developed
economies, are nonetheless able to access donor funding for the
purchase of essential medicines and projects such as hospital
construction. In the case of Tanzania, for example, the Ministry of Health
and Social Welfare's budget for development programs in 2010/11
amounts to approximately US$287
million, with 35% of that total contributed by government
and the balance from Donors, or development partners."
About Vantage Health
Vantage Health is an African based health care products and
medical consumables supply company focused on building its core
supply business through government and local partnerships, and
alleviating the burden of HIV/AIDS and disease on the African
continent. The Company currently has two subsidiaries, Moxisign
(PTY) Ltd., a South African entity 49% owned by Kopano Ke Matla
Investment Company, the investment arm of the Congress of South
African Trade Unions ("COSATU"), and Vantage Health Tanzania
Limited, 49% owned by Tanzanian investors. Vantage Health intends
to create a healthcare company with a dominant presence in sub
Saharan Africa in the medical supply and manufacturing sectors, as
well as the construction of hospitals, maternal obstetric units,
and clinics.
Safe Harbor Statement
This press release contains forward-looking statements that
involve risks, uncertainties and assumptions that, if they never
materialize or if they prove incorrect, could cause the Company's
results to differ materially from those expressed or implied by
such forward-looking statements. All statements other than
statements of historical fact are statements that could be deemed
forward-looking statements, including any projections of earnings,
revenue, or other financial items, any statements of the plans,
strategies, and objectives of management for future operations, any
statements concerning proposed new products, services or
developments, any statements regarding future economic conditions
or performance, statements of belief and any statements of
assumptions underlying any of the foregoing. These statements
are based on expectations as of the date of this press release.
Actual results may differ materially from those projected because
of a number of risks and uncertainties, including those detailed
from time to time in the Company's reports filed with the
Securities and Exchange Commission. The Company assumes no
obligations and does not intend to update these forward-looking
statements.
Vantage Health is a US company (OTC:BB – ticker symbol VNTH)
recently incorporated and public since February 2011 with the goal of providing
healthcare related products and services in sub Saharan Africa.
For more information about Vantage Health, please contact:
Dr. Lisa Ramakrishnan / Karen Sylvester
Tel: +27 (0) 21 813 6863
Fax: +27 (0) 86 604 7593
ceo@vantagehealth.co.za
www.vantagehealthgroup.com
SOURCE Vantage Health