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This issue of NBJ provides an assessment of public and private investment, including stock market analysis, IPOs and venture and angel capital. Publicly traded stocks dropped 16% last year, venture capital was available for internet and complementary medicine but in general deals were harder to find as the nutrition industry matures. Coverage of e-commerce supplement companies, VC firms, Galileo Labs, Integrative Medicine Communications, Wellspace, Tapestry Group, Consensus Health.
Has the nutrition industry lost its luster in the eyes of the financial community?
EXCERPT FROM OVERVIEW ARTICLE... TABLE OF CONTENTS BELOW:
The 1999 performance of the NBJ Index of 76 publicly traded nutrition industry stocks—which dropped an aggregate 16% in price—would lead you to believe so.
Investment analysts, however, assert that the industry remains healthy despite a year that has seen stock prices plummet and valuations of leading industry companies fall to unprecedented lows. Failure to meet unrealistic growth expectations led to an overreaction among investors, sending stock prices tumbling, financial experts report. Fortunately, analysts believe that this situation will likely improve in 2000 as savvy investors capitalize on undervalued investment opportunities. For all industries, initial public offerings (IPOs) increased from xxx in 1998 to xxx in 1999, raising proceeds of $xx billion, up from $xx billion in 1998. However, falling stock prices chilled the market for nutrition company IPOs. Six nutrition companies went public in 1998 and seven did IPOs in 1999—six of which were internet companies. The success of recent internet-based ventures such as Drugstore.com and green lifestyle site Gaiam.com, which went public in late 1999 and saw stock prices soar, could help to restore the allure of the nutrition industry in the eyes of Wall Street. But not all internet news has been favorable. Mothernature.com suffered the biggest first day drop of any IPO in 1999 when it went public in December and by the last week of January 2000 was trading at $8.25, down from its $13 offer price... excerpt from overview article.
TABLE OF CONTENTS
Finance in the Nutrition Industry: NBJ’s annual review of public & private investment 1-4
Internet companies Healthshop.com, Vitamins.com, More.com and Drugstore.com raise venture capital and prepare for IPOs 5-7
Industry analysts at AH&H, Tucker, Anthony, Cleary, Gull, Health Business Partners and Burrill & Co. comment on IPOs, internet plays and market recovery 8-9
Venture capitalists Mission Ventures, Lake Pacific, TA Associates and HBP share strategies surrounding the internet, branding and business-to-business. 10-11
Galileo Laboratories takes a structured approach to raising capital and enters strategic alliances to commercialize nutraceuticals for oxidative stress 12-13
CAM Companies Attract VC:
Database company Integrative Medical Arts goes public as a penny stock 13-14
Integrative Medicine Communications launches onemedicine.com, bridges gap between conventional and alternative therapies 14
CAM clinics Wellspace and Tapestry Group turn to angel investors and VC 16-17
Preferred provider network Consensus Health prepares major internet initiative 17
NBJ’s M&A Update: Natural foods are pacesetters; retail stays strong; but supplements quieten down in 1999 15 & 18
NBJ’s Domestic and International Stock Reporter 19-23
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