Wellness Corporate Solutions

Wellness Corporate Solutions

Wellness Corporate Solutions Careers, Pay and Expert Network

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Neptune Wellness Solutions was founded by Henri Harland and Luc Rainville in 1998. The Canadian biotech company conducted some of the first research on the health benefits of krill oil and the unique, absorption capacity of its “phospholipid” molecular structure and the fats contained within it. Neptune secured a family of patents - for an extraction process as well as composition and method of use. ,In 2002, the company pioneered the production and extraction of Antarctic krill oil. In 2003, after constructing a new facility in Sherbrooke, Quebec, Neptune launched its first product, Neptune Krill Oil, creating a new omega-3 category, manufactured using acetone as a solvent. ,In 2012, an explosion in Neptune’s processing plant resulted in three deaths and halted production at the facility. Following the accident, the company spent two years rebuilding the plant and was required to meet several safety conditions before resuming production in 2014. ,In 2017, Neptune essentially exited the bulk krill oil manufacturing and distribution business, selling its client list to its main competitor, Aker BioMarine of Oslo, Norway, for $34 million. The company invested the proceeds of the sale toward the $70 million conversion project of its Sherbrooke facility to process cannabis biomass using new cold-ethanol technology and rebranded to Neptune Wellness Solutions. ,Neptune was licensed by Health Canada in January 2019 to enter the cannabis market, allowing the company to manufacture and purify cannabis extracts and oil. After receiving the license, the company entered into a three-year contract with Canadian companies The Green Organic Dutchman and Tilray, securing cannabis and hemp biomass for extraction of crude resin, winterized oil, and distillate extracts for their products. In May 2019, Neptune entered the U.S. hemp market by acquiring the assets of SugarLeaf Labs and Forest Remedies. The purchase included a 24,000-square-foot cold-ethanol hemp processing facility, located in Conover, NC. The company replaced CEO Jim Hamilton with Michael Cammarata the former CEO of Schmidt's Naturals. In July 2019, Cammarata helped Neptune raise 41 million through a private stock placement. ,Made from Antarctic krill, a sustainable and non-genetically-modified source of omega-3 fatty acids, Neptune’s krill-based supplements are available to consumers in the U.S. and Canada for direct purchase or through its distributors. ,Neptune produces hemp-derived products exclusively from U.S. grown hemp. The company is involved in all aspects of product production, including farmer collaboration during the growth cycle to processing, formulating, testing, packaging and distributing finished products to customers. Its products include ingestibles and topical products and are safe for both humans and pets. ,At its Canadian facility, Neptune extracts, purifies and formulates cannabis oil for the Canadian and global medical cannabis communities.

Snapshot

Employees165
IndustryHealthcare
Market Cap$264 million
Revenue$29.5 million
5 Year Trend+10.6%
Net Income-$60.8 million
NASDAQNEPT
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% Masters:
32%