AMHERST, N.Y., March 11, 2008 (PRIME NEWSWIRE) -- HealthSport, Inc. (OTCBB:HSPO), a fully integrated developer, manufacturer and marketer of nutritional supplements and drug actives in a patented edible film strip delivery system, announced today that Unico Holdings, Inc. (http://www.unico-holdings.com), a Florida based company, has agreed to a 5-year deal to market and sell its Enlyten(r) PediaStrips(tm) (http://pediastrips.com), as well as market the PediaStrips(tm) as a Private Label product for companies in drug, grocery, mass market, dollar store and drug wholesaler outlets across the United States, Canada and Puerto Rico.
PediaStrips(tm) are designed to deliver electrolytes to children who are at risk for dehydration due to contracted gastrointestinal illnesses. These pleasant tasting strips are rapidly dissolved and absorbed through the cheek and gums accelerating replenishment of sodium and potassium. Children can then drink their beverage of choice to complete the rehydration process. Dehydration and electrolyte depletion pose a serious health threat to children, and the advantages of film strip delivery promise to improve compliance and promote healthy outcomes.
"We are excited about the new partnership we have established with HealthSport, Inc.," said Ed Finnegan, CEO of Unico Holdings, Inc. "As we look at our overall strategic plan, aligning ourselves with technologically advanced companies like HealthSport puts us in a position to provide our current customer base with innovative new products within general product categories in which we already serve them. We view this as the first of several phases in our partnership with HealthSport to launch new innovative products together. This partnering creates an immediate benefit with efficiencies for us and retailers alike to provide "one stop shopping" and one central product distribution channel as we add the HealthSport products to the wide array of products that we already provide to our customers."
"Unico is a perfect fit for our technologically advanced electrolyte strip products", said Robert Kusher, CEO of HealthSport, Inc. "Unico is the leader when it comes to store brand electrolyte liquid products. All the top retailers in the U.S. have partnered with Unico to manufacture and distribute their private label electrolytes drinks. We now have the opportunity to develop and provide unique products that fit nicely into the current retail schematics for these customers. The immediate impact is exciting and the potential future opportunities are endless. The agreement calls for a minimum of $22 million in product purchases over the 5 year period in order for Unico to maintain its exclusive distribution rights. We anticipate exceeding the agreed upon minimums in the contract. The Unico deal is an example of the type of business relationships we have been working towards. We plan on using this base to launch additional products utilizing our patent pending RASER (Rapid Acting, Side Effect Reducing) technology."
About Unico Holdings, Inc.
Unico Holdings Inc., (http://www.unico-holdings.com) is a leading independent manufacturer of private label health and personal care products. Headquartered in Lake Worth, Florida, Unico's product offering includes pediatric electrolyte solutions and personal care products. The Company markets its products through numerous sales channels, including large retail merchandisers, drug store chains, grocery stores and pharmaceutical distributors. Unico's customers include most of the largest retailers and distributors in the U.S. in each of these sales channels. As part of its on-going expansion strategy, Unico will look to increase opportunities in manufacturing, developing and purchasing additional product lines and to continue expanding its customer base.
About HealthSport, Inc.
HealthSport (http://www.healthsportinc.com) is a fully integrated developer, manufacturer and marketer of unique and proprietary branded and private label edible film strip nutritional supplements and over-the-counter drugs. The Company develops products through its manufacturing and development subsidiary, InnoZen (http://www.innozen.com), and markets and distributes its products through Enlyten (http://www.enlytenstrips.com). InnoZen is the preeminent formulator, developer and manufacturer of edible film strips that deliver drug actives through buccal (between cheek and gum) absorption. InnoZen's proprietary edible film strip delivery technology is superior to any other competitive edible film strips currently available on the market. InnoZen has five patents pending and has developed numerous trade secrets which it incorporates in the development and manufacturing process of edible film strips.
Forward-looking statements in this release are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks, and uncertainties and actual results could differ from those discussed. This material is information only and is not an offer or solicitation to buy or sell the securities.