Baywood International, Inc.
Baywood International, Inc. (OTC: BYWD.OB) engages in the development, production, marketing, and distribution of nutraceutical products and other novel technologies for therapeutic applications. It offers products under brand names, such as Baywood PURECHOICE, Baywood SOLUTIONS, Complete La Femme, Baywood EVOLUTION, and LifeTime. The company distributes its products through independent and chain health food stores, pharmacies, grocery stores, and other direct-to-consumer channels in the United States, Canada, Europe, and Asia. The company was incorporated in 1986 as Baywood Financial, Inc. and changed its name to Baywood International, Inc. in 1992. Baywood International is based in Scottsdale, Arizona. In 1997 the company filed suit against former Chairman John Shannon, accusing him, among other offenses, of fraudulently issuing shares of the company's STOCK.
Current Management & Board of Directors
- Neil Reithinger, Chief Executive Officer
- Karl H. Rullich, Vice President
- O. Lee Tawes III, Director
LifeTime Acquisition
In March 2007, the company purchased substantially all the assets and liabilities of Nutritional Specialties, Inc. also known as LifeTime Vitamins, for a total transaction price of at least $11 million. The transaction price included $7.6 million in cash, $1.1 million in common stock (22 million shares), $0.7 million 8-percent subordinate seller notes, $0.6 million in eight (8) percent convertible notes and assumption of AbOUT $1.0 million in liabilities. The deal included 370 LifeTime products sold directly to independent and chain health food stores, pharmacies and other direct-to-consumer channels. International sales operations of the LifeTime brand include Canada, Turkey, Croatia, Dubai, Holland and Sweden. Overall revenues for fiscal 2006 (ended Aug. 31, 2006) were $11.9 million, with taxable income of $1.25 million. Unaudited calendar 2006 results show $12 million in revenues and $1.5 million in earnings.
Subsidiaries
Baywood Acquisition, Inc.