CAPE TOWN, South Africa,
Sept. 16, 2011 /PRNewswire/ --
Vantage Health (OTC:BB – ticker symbol VNTH), (the "Company")
announces that the Tanzania Food and Drugs Authority has today
issued the Company's Tanzanian subsidiary, Vantage Health Tanzania
Limited ("VHTL") with all necessary licensing, permitting and
registration certificates, all of which became effective in
August 2011, and which will further
allow VHTL to expand its business in the healthcare field in
Tanzania, including both
pharmaceutical wholesale and pharmaceutical retail. In addition,
VHTL was officially informed today by the Tanzanian Ministry of
Health and Social Welfare that VHTL's application for the
evaluation of its HIV Screening Test Kits has been accepted by
Tanzania's Private Health
Laboratories Board ("PHLB"). Under Tanzanian law, the Test Kits
must undergo an evaluation process by PHLB before being given
permission to import, market and sell the devices locally.
Dr. Lisa Ramakrishnan, President
and CEO of Vantage Health, said: "We have been very fortunate that
the Tanzanian authorities have been so supportive of, and
responsive to our VHTL subsidiary's applications. Because of the
rigorous government screening protocols in place in Tanzania, license, registration and evaluation
applications can take a great deal of time to be processed by the
various government departments concerned. We are constantly
impressed with the level of professionalism these departments have
shown as we have had to navigate our way through the process. In
practical terms, the finalizing of this stage of development of our
Tanzanian subsidiary should allow for VHTL the broadest possible
spread of commercial opportunity in the Tanzanian healthcare space.
In terms of our imported Test Kits being evaluated, and given the
fact it is a device as opposed to a medicine, we expect a fairly
quick review process, and look forward to being able to distribute
our Test Kits in Tanzania as soon
as possible. We anticipate an exciting future for our Tanzanian
enterprise as well as making a positive contribution in the
country, while adding value for Vantage Health's shareholders. As
previously stated, we intend to copy the Tanzanian model in other
African countries where we are also currently establishing
government partnerships."
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