On April 1, 2020, InnovativeHealth Group's biotechnology platform can screen and combine different ingredients, and develop new skin beauty products using artificial intelligence systems.
This acquisition will enhance Evonik Develop unique and customized active ingredient technology capabilities, and accelerate product launch speed.
Evonik Industrial GroupWe have reached an acquisition agreement with Innovative Health Group (hereinafter referred to as "InnoHealth") and completed the transaction at the end of March. InnoHealth is headquartered in Madrid, Spain, and its proprietary technology platform can screen and combine natural ingredients and extracts to produce novel skin beauty products with synergistic activity. The company will be integrated into the Wingchuang Care Chemicals business line. The transaction price for this acquisition will not be disclosed.
The acquisition of InnoHealth will further enhance the growth engine of "health and care" and expand Winco's development capabilities for unique active ingredient products. This acquisition is also part of Evonik's strategy to drive innovative growth in the field of personal care and its extensions.
Continuously developing innovative products is one of the driving forces behind the development of InnoHealth. The efficacy of these new products has been validated and can support unique cosmetic claims, "said Dr. Tammo Boinowitz, Senior Vice President and General Manager of the Care Chemicals business line at InnoHealth
In addition to the screening platform, Innohealth has also developed a tool that can combine active ingredients with synergistic effects. This platform can not only be used for Winco's own product development, but also as a selection tool provided to customers. In addition, Winco will also provide customized active ingredients to customers to meet specific market trends and consumer needs.
InnoHealth's ingredient combination platform can identify the synergistic activity between various ingredients, thereby developing new skin beauty products that provide excellent activity for specific applications. The algorithm of the platform's artificial intelligence system can calculate optimized component combinations for different applications.
Tammo Boinovitz added, "Through this acquisition, we have enhanced Evonik's innovation capabilities in the field of cosmetic active ingredients. Now, we are able to further optimize costs, shorten development time, and develop high-quality, high-performance products that are market attractive and scientifically certified
Eduardo Mu, Professor of Immunology at the University of Cordoba and co-founder of InnoHealth&Dr. Antilde Oz said, "InnoHealth was founded to provide innovative skin care products and technical support for future development. Our main focus is on providing new and more effective treatment options for skin problems based on scientific methods. Now, as part of InnoHealth, we can more easily achieve these goals, and we look forward to helping InnoHealth achieve even more ambitious goals
