|
|
In response to recent reports of people falling ill after eating honeycomb containing tutin toxin, one of New Zealand’s largest and most trusted honey manufacturers wishes to put consumers’ minds at ease that most honey is safe to eat.
Comvita, the world’s leading producer of Manuka honey, advises New Zealanders that toxic honey, such as that reported in the past few days, is very uncommon. However, if Kiwis are in doubt, it is best to choose a product from a reputable source.
Professional apicuturalist Cliff Van Eaton says toxic honey is a rare event that can occur mainly in very hot dry summers, such as New Zealand is experiencing now. Toxic sap from the tutu plant (only prevalent in certain areas of New Zealand) is collected by an insect called the passion vine hopper. Honey bees then collect honeydew produced by the passion vine hopper nymphs and take it back to the hive, says Van Eaton.
Because the toxin can be present in individual cells in a honeycomb in concentrated amounts, honeycomb honey can carry a higher risk says Van Eaton. We believe normal honey which is extracted by beekeepers and sold in drums to companies like Comvita is a much safer option he says.
“Comvita has an extensive quality assurance programme in place that prevents risk of its honey being affected,” says Comvita general manager supply chain Nevin Amos. “We are a leader in this field and have had an extensive monitoring system in place for some years.
“The professional beekeepers that Comvita buys from are all aware of the tutin toxin issue and are required to have a Risk Management Programme in place that is audited by New Zealand Food Safety Authority. Beekeepers monitor the Tutu plants in their area. Comvita’s beekeepers must validate their honey is safe and that they have undertaken the required monitoring.
“We also audit our suppliers and they all are required to tell us where their hive sites are and when extraction took place so we can determine any additional risk.”
When honey is sourced from at risk areas, the honey is subject to a test conducted by a Crown Research Institute, says Amos. This test can detect the tutin toxin.
Customers can have confidence that Comvita’s honey is safe to eat, says Amos.
“We have invested extensively in our Quality Assurance systems to ensure we have the highest quality product and it’s comforting for our consumers to know we treat issues like this very seriously.”
End.
Around 50 children from Tauriko School made a difference to their environment on Friday 23 November by planting trees in a New Zealand wetland reserve. The year three and four students planted 750 Manuka seedlings in Kopurererua Valley. The trees were donated by Comvita, as part of its Birds, Bees, Kids and Trees community education programme. The programme aims to encourage children to enjoy the outdoors and discover the magic of their natural environment. “It was fun planting the trees. I have remembered where I planted my trees so I can come back and watch them as they grow,” said seven-year-old Tauriko School student Shannon Kinzett. The children learnt about the history of Kopurererua Valley and about the importance of birds, bees, kids and trees from a series of new signs displayed on the sides of the kiosk. Kopurererua Valley runs alongside the Route K toll road and is the focus of a major wetland restoration project being undertaken by Tauranga City Council and its City Investment Partners. Gardenart dug the holes for the trees and Naturally Native grew the seedlings. After planting the trees, the children visited Comvita’s Visitor Centre in Paengaroa where they tucked into honey sandwiches and learnt more about bees. Ends  Paengaroa-based company Comvita has used its Manuka honey expertise to develop a natural skincare range. Huni aims to increase sales from existing Comvita customers and attract new customers to the brand. The UMF® 20+ Manuka honey used in the Huni skincare range was supplied by Comvita beekeepers in New Zealand’s North Island. UMF® (Unique Manuka Factor) is a scientific measure of the antibacterial levels found in active Manuka honey. This type of honey was chosen because it is the purest, most sustainable type of active honey available and is known for its moisturising properties. “We wanted to offer women a natural skincare range that utilises the strong natural benefits of UMF® Manuka honey to minimise the first visible signs of aging,” said Comvita general manager skincare Leigh Kite. Huni is not just good for your skin, but good for the environment too. The natural ingredients we use are from sustainable sources and free from parabens, sodium lauryl sulphate detergents and genetically-modified plant materials. Comvita shareholders got the first glimpse of Huni on Wednesday October 31. Then the Western Bay of Plenty's most influential women got a sneak preview of the new products, ahead of the national launch in February, at Comvita's Visitor Centre on Thursday 1 November. ENDS
16 October 2007
Comvita confirmed today that its partner in the US, Derma Sciences, has successfully launched its new range of Honey based wound dressings. Derma Sciences launched the Medihoney® brand, under a global brand co-operation agreement with license owner Comvita.
The dressings were launched at the Clinical Symposium on Advances in Skin and Wound Care (CSASWC) based in Nashville, Tennessee. According to Derma Sciences Vice President of Marketing Barry Wolfenson the dressings were received very positively at the symposium, with strong interest from Woundcare specialists. Mr Wolfenson also added “Derma Sciences was very satisfied with the response from distributors placing orders in the lead-up to the show, and attendee response was very positive. We are excited about the future market opportunities this launch creates for our company.”
After advising the NZX on the 23rd of July this year that FDA clearance had been obtained for the honey-based wound dressings, Comvita CEO Brett Hewlett was impressed with the speed at which US partner Derma Sciences has been able to bring the product to market, less than 2 months after receiving market approval. Comvita has a 14 per cent stake (10 per cent fully diluted) in publicly owned Derma Sciences (code DSCI), a marketer of advanced wound care products. “This is a significant moment in Comvita’s development says Hewlett, and is the end result of years of hard work. It also paves the way for a global platform of new products based on medical honey to be launched under the Medihoney® brand .”
Much data has been published on the use of medical grade Leptospermum honey (Manuka Honey) as a topical antimicrobial, including its activity against methicillin-resistant Staphylococcus aureus (MRSA). Results from a large-scale randomized controlled study conducted at Sligo Hospital in Ireland, were presented at the symposium by Georgina Gethin. The study demonstrated improved healing and infection control rates - including reductions in MRSA - along with effective debridement of necrotic tissue. This study will be published in late 2007.
In another clinical study Robert G. Frykberg DPM, MP Chief of Podiatric Medicine and Surgery at the Carl T. Hayden Veterans Affairs Medical Center in Phoenix, presented a case series of Medihoney dressing in several patients with diabetic ulcers. Results were positive wound healing outcomes, and bioburden control even against such drug resistant pathogens as MRSA. In addition to authoring numerous scientific manuscripts, Dr. Frykberg has edited two of the most widely circulated textbooks on the subject of Diabetic Foot Care. The importance of podiatry to the woundcare market is significant with leg ulcers and diabetic foot ulcers making up a significant percentage of the total market for advanced wound care. There are at least 16 million people with diabetes in the United States. Fifteen percent of all patients with diabetes may be expected to develop foot ulcers during their lifetimes. Persons with diabetes have an increased risk of developing infections which are reported to have a treatment cost of US 17,000 to 18,000 dollars per ulcer and are a major cause of lower-limb amputation.
Major news outlets in the US have told the story of Medihoney products being used in Iraq by US military personnel. KFYR TV News series refers to it as a “Sweet Medical Breakthrough” while the LA Times called it a “Cheap fix in a War zone.” US Military personnel have been using Medihoney® to treat a range of burns incurred amongst Iraqi children in a children’s burn clinic. The treatment has been an outstanding success according to clinicians, and this has been widely reported in the United States.
This follows a further exciting publication in the US market about Medihoney. The current issue of the US Journal “Wounds” has published a feature article on a study using Medihoney last month. Wounds journal reported that “research results thus far are extremely encouraging, and demonstrate that honey is effective against a broad range of microorganisms, including multi drug resistant strains. This in-vitro study complements the work of others and focuses on the impact that a standardized honey can have on multi drug resistant bacteria that are regularly found in wounds and are responsible for increased morbidity.”
END
Comvita
will partially fund the acquisition through share placement to
institutions and habitual investors of up to NZ$12 million at $2.80 per
share. The placement is underwritten to NZ$8 million. Following the
placement, the company intends to offer existing shareholders the
opportunity to subscribe for up to $5,000 worth of shares through a
Share Purchase Plan at the same price as the Placement. The details of
the Share Purchase Plan will be provided separately but the record date
will be 18 September 2007.
OPA is a vertically integrated
business founded by Australian Natural Health enthusiast, Ray Archer.
The acquisition includes a super-intensive 500,000 olive tree grove of
scientifically selected olive leaf varieties on a 400 acre plantation.
These trees have been carefully chosen by the Archers over many years
of research to maximise the production of their therapeutically active
compounds.
OPA is a superb business say’s Comvita's CEO Brett
Hewlett. “The company has shown compound annual growth of more than 50%
over the past 5 years and is very profitable. The acquisition was made
through a non-contestable process. The Archers felt that Comvita was
the right party to take the business forward and grow it
internationally using Comvita’s access to key markets throughout Asia
and Europe”.
This is the third acquisition Comvita has made this
year. While the full benefits of these acquisitions will not be felt
until the next financial year, Comvita has provided a post acquisition
projection for the combined businesses out to March 2009 (the next full
financial year given Comvita’s change in balance date) with forecast
net profit after tax for the group expected to be NZ$5.2 million (or
18.7 cents per share). Earnings before interest, tax, depreciation and
amortization (EBITDA) are projected to be $12.4 million.
Comvita’s
strategy has been very consistent states Hewlett. "We have focused our
acquisitions on building our leadership position in woundcare, securing
distribution strength in Europe and Asia and now OPA is a major step to
obtaining diversification in our supply base, a stated strategic goal
for Comvita. Comvita has established a stable and highly scalable
platform to support strong growth over the coming years. We have made a
number of acquisitions in a relatively short space of time. However,
they are the culmination of nearly two years of work by the Executive
team and the Board, and match the strategy we laid out when we set
about taking Comvita to the next level."
We believe the
acquisition of OPA is in the best interests of Comvita and should bring
significant benefits to the business for the following reasons;
1.
Olive leaf extract will form the basis of a significant ingredient
platform for Comvita and is complimentary to Comvita’s existing product
range. The products have exciting potential and are aligned with
Comvita’s current health solution categories. It creates
diversification of Comvita’s supply base with a unique raw material.
This is in line with Comvita’s planned strategic move to reduce
dependency on ‘bee’ based products.
2. The acquisition
enables Comvita to utilise its established brand and distribution
channels in the key markets of UK, Hong Kong, New Zealand and
Australia, to grow the sales and profitability of OPA – currently the
existing business is predominantly domestically focused. OPA’s
business operation is sustainable and importantly, scalable to meet
Comvita’s growth expectations.
3. This acquisition is
earnings accretive for all shareholders inclusive of the additional
equity raised. Pro-forma net profit projections for the combined
business shows strong growth.
Fresh olive leaf is one of the
most exciting natural products to emerge over the past few years
according to Comvita Technical General Manager, Dr Ralph Schlothauer.
“There is a lot of interest in one of the key active compounds,
Oleuropein. OPA has taken the production of extract a step further
with a focus on producing a wider range of actives directly from fresh
leaf. In Australia the Therapeutic Goods Administration has approved a
heart health claim. Furthermore, a number of anecdotal reports from
consumers indicate they are getting relief for joint pain and arthritis
after they have taken OPA's products. This has now been backed up by a
90 patient clinical study recently completed in the United States
showing positive effects on osteoarthritis and rheumatoid arthritis(1)”.
Traditionally
olive leaf extracts are known to also have potential antimicrobial and
antiviral properties and are becoming popular as cough and cold
remedies.
OPA’s fresh olive leaf extracts have become
extremely popular in Australia, becoming one of the fastest growing
health supplement items in the country.
(1) Source: Nutrition Research (Elsevier)
August 2007, Volume 27, Issue 8, Pages 470-477
"Olive
extract supplement decreases pain and improves daily activities in
adults with osteoarthritis and decreases plasma homocysteine in those
with rheumatoid arthritis"
Authors: C.M. Bitler, K. Matt, M. Irving, G. Hook, J. Yusen, F. Eagar, K. Kirschner, B. Walker and R. Crea
Comvita
announced today (29 August) that it has entered into an agreement to
purchase the assets (including shares, real estate and intellectual
property) and business of Olive Products Australia Pty Limited (OPA).
The base purchase price is A$20.0 million (plus A$0.7 million working
capital) with up to A$6 million in additional earnout provided certain
growth targets are met in two years. Of the total A$26 million, A$5.2
million will be in the form of Comvita shares. The purchase is subject
to shareholder approval, final due diligence and finance. 3 Aug 2007
On Tuesday night TV3’s Target programme analysed a variety of honey for taste, pollen count and UMF activity.
Comvita is thrilled that the consumers on the Target programme chose Comvita Active 5+ Manuka Honey as the best tasting honey.
However, while testing for activity the programme compared honeys of differing UMF activities; for example Comvita's Active 5+ was compared to a competitor’s UMF 10+.
The programme was not comparing apples with apples and hence the findings were potentially confusing for the public.
Had the programme compared honeys of the same UMF rating then the findings would have been very different and may have proven more useful in guiding consumers to making a more informed choice.
The programme referred to pollen counts, which is an area of contention within the industry.
The amount of Manuka in the honey was analysed by testing the pollen count of each honey and comparing it to a proposed industry standard.
The programme concluded that Comvita’s pollen count of 33% meant it fell short of the proposed industry standard.
Comvita believes the pollen count method is flawed as a test for the purity of certain honey types – especially Manuka – and hence does not use it as a means of identifying unifloral honey types. This is a view shared by many people within the industry.
Unlike the nectar from the tree, Manuka pollen is not a substantial food source for bees and so they will often feed on pollen collected earlier from other plant sources and store this in the hive.
As a result other pollen may be present even in the purest of Manuka honey. This phenomena of bees harvesting pollen in the early morning from a different plant source and then returning to the Manuka trees later in the day to collect the nectar for making honey has been observed by many beekeepers.
Jim Edwards, the CEO of the National Beekeeping Association, said the NBA is working on developing methods of assuring quality and proof of origin of New Zealand honey.
An article¹ by Waikato University’s Professor Peter Molan explains that misleading conclusions may be reached by using pollen analysis to identify the sources of honey.
“It is not possible to identify the source of a honey with certainty, and the most reliable identification is likely to come from a combination of methods,” said Prof Molan.
To ensure Comvita produces the highest quality Manuka honey, the following standard methods for testing the honey are used:
Taste
Appearance
Flavour
Total activity and non-peroxide (UMF) activity
Summary
Comvita uses stringent tests based on taste, appearance, flavour, and activity to ensure we are producing the highest quality Manuka.
Brett Hewlett
CEO
Comvita
¹ The limitations of the methods of identifying the floral sources of honey (Peter Molan, Bee Word 79(2):59-68 (1988).
30 April 2007
New
Zealand natural health company Comvita has opened its first global
concept store at its head office in Paengaroa, Bay of Plenty, heralding
a significant step forward for the iconic Kiwi brand.
Officially
opened on 20 April by Prime Minister the Rt Hon Helen Clark, the
concept store model, while a retail outlet, is a place where Comvita’s
customers can engage more closely with the company and its products –
and ultimately showcase a taste of New Zealand to the lucrative
international marketplace.
Comvita CEO, Brett Hewlett, describes
the concept store as the hard proof of Comvita’s dedication to global
development and an integral part of its transition from an export
company to a global organisation.
“The new concept store
symbolises a fundamental change in our pace of growth and our global
aspirations. We are ready to truly take our success story to the world
and will be rolling out other concept stores, showcasing our products,
brand and natural New Zealand in our key hubs -- the UK and Hong Kong.”
It
is this global vision that has contributed to Comvita’s exporting
success. In 2006 the company was awarded the New Zealand Trade &
Enterprise Biotechnology Exporter of the Year Award and, with recent
strategic acquisitions firmly under its belt, is a star definitely in
the ascendant.
“Last year Comvita’s exports grew 39 per cent,
with two thirds of our sales going offshore. It seems fitting to
celebrate our investment in the way we market ourselves off shore
during Export Year 07,” said Mr Hewlett.
One of the primary
functions of the global concept store is to educate people about health
and wellbeing in general through educational in-store signage, staff
including trained naturopaths, reading areas with health publications
and educational videos. The ‘Wellness Centre’ is expected to a big draw
card for tourists visiting the Bay of Plenty region.
“There is
more to Comvita than what you see on the shelves however. Behind the
scenes our staff are constantly working to bring New Zealand, and the
world, leading natural healthcare products through cutting-edge
research and development. A great example of this is our development of
Manuka honey technology, something that is highly regarded in our key
export markets,” says Mr Hewlett.
Comvita used the opening of
the first global concept store to also reveal its new brand, which
follows an extensive design process to redefine its position, values
and what the company stands for.
“As we move the business into
our next phase of growth and development it is important that our brand
encapsulates our changing face. At Comvita we believe in the power of
brands and in fact we are probably better known overseas than here at
home.”
An ‘evolved’ Comvita logo is one of its most obvious branding changes.
“The
company’s reputation and image is projected around the world through
the brand’s badge or logo. Our logo has been refreshed into a strong,
legible and modern look without losing its rich heritage and Kiwi
influence.
“I was encouraged to hear someone say recently that
Comvita has been acting global for a long time, but now we look
global. That’s just the image we need to reflect to secure our place
offshore,” he says.
The new Comvita branding will be integrated
into the business over time, starting with is head office and concept
store signage and marketing collateral. An internal brand programme is
also underway, educating and engaging Comvita staff worldwide in the
vision and values that underpin the Comvita brand.
At the
ceremony Mr Hewlett also took the time to acknowledge the support of
New Zealand Trade &Enterprise and Technology New Zealand. He
referred to the Prime Minister’s position on building a sustainability
platform for New Zealand.
“At Comvita sustainability is more
than a buzz word. We were adopting sustainable business practices long
before it became trendy and we are committed to growing our business in
a sustainable way.”
Comvita’s sustainability ethos is carried
through in the concept store design including recycled rubber used on
the floor, cork walls and natural riverstone features. The building is
GreenGlobe benchmarked – a global tourism industry standard recognising
sustainable waste management, energy efficiency and
environmentally-friendly practices.
Ends
April 20, 2007
NZX-listed natural healthcare company Comvita is well placed to achieve its 2010 plan of $100 million in sales, having built a strong platform for continued growth and increased its control over distribution, chairman Neil Craig told shareholders at the company’s Annual General Meeting in Te Puke today.
He said the company had produced pleasing results in 2006 with strong underlying sales. This included 39 per cent growth in export sales, making up 66 per cent of Comvita’s total revenue.
“We are pleased with overall developments to date and we are confident that we are on track to meet both our 2007 and longer term growth targets.”
Mr Craig said the company had made some strategically important acquisitions over the past year, including its Hong Kong distributor GreenLife and Australian firm Medihoney.
“The acquisition of GreenLife in March is in line with our strategy of developing regional hubs to provide marketing and distribution capabilities in-market and to enable expansion into neighbouring regions.
“Our purchase of Medihoney aligns with our goal of growing our medical business. Medihoney is a good fit for Comvita’s wound care business. Bringing together the two companies will allow Comvita to lead the development of the medical honey market, benefiting from our collective intellectual property and know-how and complementary products and allowing us to get products to market faster,” said Mr Craig.
In the 2006 financial year, Comvita also acquired 100 per cent of NZ Vitalife, the remaining 49 per cent of NZ Colostrum Gold, proprietary intellectual property from WaikatoLink and a 14 per cent stake in US wound care business Derma Sciences.
Comvita CEO Brett Hewlett told shareholders the year had begun satisfactorily for Comvita with sales up 10 per cent over this time last year and exports up 17 per cent.
Hewlett said he expected the net impact of a challenging start to the year would see Comvita’s mid-year result well down on last year, but he is confident the full year result will be up on last year both in sales and operating earnings.
“Although we are very pleased with the continuing growth in underlying sales, particularly in our offshore markets, the new financial year has not been without its challenges,” said Hewlett.
“We are operating in a difficult export climate, with the Kiwi dollar reaching record levels and recently tightened regulatory requirements in our export markets,” he said.
Mr Hewlett said Comvita had taken a conservative approach to ensure the quality of its products remains at the highest level but added its stringent new testing regimes had a short-term effect on its ability to fulfill all orders to some markets in early 2007.
Further to this, there have been one-off non-cash adjustments relating to recent acquisitions.
“The strength of orders coming from the markets, the new products we are about to launch and the acquisitions we have made all mean we are in a strong position for delivering a solid full year result. The company has achieved a compound average annual growth rate of over 20 per cent in sales over the past five years and all indications are that this will continue.”
Hewlett said 2007 will also see Comvita build its platform for future growth, with continued investment in people, infrastructure and supply chain – the most recent initiative being a sustainable land management partnership with Kyoto Forests NZ Limited.
As part of Comvita’s strategy for further securing supply of raw material Mr Hewlett announced at the Annual General Meeting that the company will implement a beekeeper loyalty programme which will be detailed to beekeepers in the second half of this year. The programme will offer beekeepers a share participation scheme in Comvita, provide them with preferential access to new opportunities, a cadetship for young beekeepers, and support through best practice training.
He said Comvita was pleased with recent advances in its woundcare business with the Medihoney and Derma Sciences acquisitions and the upcoming launch of its next generation woundcare dressings, ApiMed+.
Jeffrey Williams and Robert Tait were re-elected to the board and all resolutions were passed.
Ends
April 18, 2007
Natural health care company Comvita Limited has
entered into a Heads of Agreement to acquire Australian firm Medihoney
Pty Ltd (Aust), a wholly owned subsidiary of Capilano Honey Limited
(Aust), in a strategic move to significantly grow its capability and
secure a global competitive position in the wound care sector.
The
$6 million purchase, still subject to due diligence, regulatory
approval and approval by the shareholders of Capilano Honey, consists
of AU$5.5 million in Comvita shares and AU$500,000 cash. The Comvita
shares will be valued at a volume-weighted average of trading prices
over the ten-day period preceding this announcement. The acquisition
will take effect on June 1 2007, at which time Medihoney’s business
will be merged with Comvita. Medihoney's sale will give Capilano Honey
just over eight per cent shareholding in Comvita.
Medihoney’s
primary business, which started in 1999, is developing products for
protecting and healing skin using biologically active honeys or
products made from honey derivatives. The company has developed a range
of products that is highly complementary to the Active Manuka Honey
wound care and skin care range currently produced by Comvita.
Capilano
Honey is the market leader of honey in Australia, packing premium
quality honey produced by Australian beekeepers for more than 50
years. Capilano’s standing as one of the world’s largest honey
manufacturers and marketers, boasting an impressive global operation,
further reinforces the importance of the new strategic alignment
between the two trans-Tasman companies.
Comvita’s CEO Brett Hewlett says the company is thrilled with the acquisition.
He
believes Medihoney’s international distribution network in Australia,
the UK and Europe, together with its complementary product portfolio
and intellectual property will strengthen Comvita’s position in the
US$7 billion global wound care market.
“Following our investment
in Derma Sciences last year, the acquisition of Medihoney will again
increase Comvita’s competence in the manufacture and marketing of
advanced wound care products, cementing our stake in this high growth
area. Together with its strong product development impetus and talented
team, Medihoney is a welcome addition to the Comvita business,” he says.
Roger
Masters, Managing Director for Capilano, sees Medihoney as a
complementary fit to Comvita’s healthcare business and as an
opportunity to accelerate the commercialisation process in the
development and marketing of anti-bacterial honey products.
“Medihoney
and Comvita are the two major participants in therapeutic honey in the
international market and it makes a great deal of sense to combine our
efforts. Capilano, by holding a direct investment in Comvita, will
continue to share in the future potential of the medical honey
business.”
This deal is Comvita’s second major acquisition in a
month after it purchased its Hong Kong distribution partner, GreenLife
Limited, in March.
Ends.
|
|