CAPE TOWN, South Africa, Sept. 16, 2011 /PRNewswire/ -- Vantage Health (OTC:BB – ticker symbol VNTH), (the "Company") announces that the Tanzania Food and Drugs Authority has today issued the Company's Tanzanian subsidiary, Vantage Health Tanzania Limited ("VHTL") with all necessary licensing, permitting and registration certificates, all of which became effective in August 2011, and which will further allow VHTL to expand its business in the healthcare field in Tanzania, including both pharmaceutical wholesale and pharmaceutical retail. In addition, VHTL was officially informed today by the Tanzanian Ministry of Health and Social Welfare that VHTL's application for the evaluation of its HIV Screening Test Kits has been accepted by Tanzania's Private Health Laboratories Board ("PHLB"). Under Tanzanian law, the Test Kits must undergo an evaluation process by PHLB before being given permission to import, market and sell the devices locally.
Dr. Lisa Ramakrishnan, President and CEO of Vantage Health, said: "We have been very fortunate that the Tanzanian authorities have been so supportive of, and responsive to our VHTL subsidiary's applications. Because of the rigorous government screening protocols in place in Tanzania, license, registration and evaluation applications can take a great deal of time to be processed by the various government departments concerned. We are constantly impressed with the level of professionalism these departments have shown as we have had to navigate our way through the process. In practical terms, the finalizing of this stage of development of our Tanzanian subsidiary should allow for VHTL the broadest possible spread of commercial opportunity in the Tanzanian healthcare space. In terms of our imported Test Kits being evaluated, and given the fact it is a device as opposed to a medicine, we expect a fairly quick review process, and look forward to being able to distribute our Test Kits in Tanzania as soon as possible. We anticipate an exciting future for our Tanzanian enterprise as well as making a positive contribution in the country, while adding value for Vantage Health's shareholders. As previously stated, we intend to copy the Tanzanian model in other African countries where we are also currently establishing government partnerships."
About Vantage Health
Vantage Health is an African based health care products and medical consumables supply company focused on building its core supply business through government and local partnerships, and alleviating the burden of HIV/AIDS and disease on the African continent. The Company currently has two subsidiaries, Moxisign (PTY) Ltd., a South African entity 49% owned by Kopano Ke Matla Investment Company, the investment arm of the Congress of South African Trade Unions ("COSATU"), and Vantage Health Tanzania Limited, 49% owned by Tanzanian investors. Vantage Health intends to create a healthcare company with a dominant presence in sub Saharan Africa in the medical supply and manufacturing sectors, as well as the construction of hospitals, maternal obstetric units, and clinics.
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This press release contains forward-looking statements that involve risks, uncertainties and assumptions that, if they never materialize or if they prove incorrect, could cause the Company's results to differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any projections of earnings, revenue, or other financial items, any statements of the plans, strategies, and objectives of management for future operations, any statements concerning proposed new products, services or developments, any statements regarding future economic conditions or performance, statements of belief and any statements of assumptions underlying any of the foregoing. These statements are based on expectations as of the date of this press release. Actual results may differ materially from those projected because of a number of risks and uncertainties, including those detailed from time to time in the Company's reports filed with the Securities and Exchange Commission. The Company assumes no obligations and does not intend to update these forward-looking statements.
Vantage Health is a US company (OTC:BB – ticker symbol VNTH) recently incorporated and public since February 2011 with the goal of providing healthcare related products and services in sub Saharan Africa.
SOURCE Vantage Health