Health Sciences Group to Buy Quality Botanical Ingredients

Los Angeles-based Health Sciences Group Inc. (OTC BB: HESG) has agreed to buy Quality Botanical Ingredients Inc. (QBI), a South Plainfield, N.J.-based bulk botanical materials and nutritional ingredients manufacturer and processor, for an undisclosed sum. HESG, which provides products and services for the nutraceuticals, cosmeceuticals and pharmaceuticals industries, says it expects consolidated revenues of $20 million for FY02, according to a Dec. 11 announcement.

In March, HESG announced it planned to buy QBI in exchange for cash and stock. During 2001, QBI generated more than $12 million in revenues from product sales and contract work, according to an announcement in March.

HESG President Bill Glaser has said that the QBI acquisition will be instrumental to a planned launch for a line of integrative-medicine products that address ailments including heart disease, cold, flu, arthritis, migraine and allergies.