GelStat Agrees to Purchase Mastix Medica
GelStat, a Palm City, Fla.-based maker of OTC migraine-relief and sleep-aid products, has signed a definitive agreement to acquire Mastix Medica, a niche healthcare product maker.
The transaction is expected to close on or before July 7, and should add more than $500,000 to GelStat’s third quarter revenue and $2 million to its total second half revenue, the company said.
The Hunt Valley, Md.-based Mastix Medica develops niche healthcare products in underutilized, emerging dosage forms like tableted chewing gum, chewable tablets and lozenges, the company said.
It is one of very few companies in the world with the ability to make tableted chewing gum products, a process that is patent-pending, the company said. It also has developed an exclusive direct compression tableting process for delivering supplements and active ingredients, it noted.
Larry Gershman, CEO of GelStat said the acquisition of Mastix Medica adds another dimension to the company and will complement its present experience in product innovation and marketing. — Kellen Owings
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