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Dr. Tran and Bariatrix Nutrition Inc. Join Forces to Acquire Ideal Protein, Paving the Way for Transformative Wellness Solutions

December 15, 2023

MONTREAL, Dec. 15, 2023 /CNW/ - Dr. Tran, a pioneer in the field of medical weight loss, and Bariatrix Nutrition Inc., a weight loss industry leader for over 45 years and a key supplier to Ideal Protein, proudly announce their strategic agreement to acquire Ideal Protein.

Bariatrix Nutrition and Ideal Protein jointly announced today that Ideal Protein, along with all its assets, trademarks, formulas, and rights, will be sold to 15563143 Canada Inc. and IPC of America Inc.. Subject to closing, Bariatrix and Dr. Tran will take over day-to-day management of the business, including ongoing relationships with Ideal Protein's Clinic partners.

The transaction is part of the Ideal Protein's sale process under the Companies' Creditors Arrangement Act (Canada) and is subject to customary closing conditions, including approval from the Superior Court of Quebec (Commercial Division) . The anticipated closing date for the transaction is December 31st, 2023.

"I am thrilled to complete this transaction with Dr. Tran and Bariatrix Nutrition for the purchase of Ideal Protein" said Dawn Halkuff, current CEO of Ideal Protein.  "This is a leadership team that will be wonderful stewards for the organization as they embody the trifecta of excellence for Ideal Protein:  scientific grounding, a deep commitment to our mission and a stellar reputation as a top tier product manufacturer".

Mr. Roderick Egger, Chief Executive Officer of Bariatrix Nutrition Inc., who brings a wealth of knowledge and experience to the collaboration, shared, "I am excited to be part of this venture that combines medical insight with nutritional solutions. Together, we have the opportunity to enhance the lives of individuals through specialized and effective approaches to weight management."

Dr. Tran, shared, "Our commitment to the fundamental values that fueled the company's initial success remains unyielding and we firmly believe that these timeless principles, centered around science, education and support of our clients will empower us to navigate the rapidly evolving diet industry landscape. Our foremost priority is to stand by and support the clinics who believe in Ideal Protein's mission and help them tackle the obesity epidemic in their communities".

Dr. Tran, founder of the Ideal Protein Protocol, and co-founder of the business, brings a wealth of experience and expertise. As the original creator of the Ideal Protein Protocol, Dr. Tran's legacy includes establishing the Company's Medical Board and spearheading coach training initiatives. With over 35 years in the diet sector, Dr. Tran has developed a deep understanding of the science and psychology behind weight loss, and forged unique relationships within the Ideal Protein movement.

Bariatrix Nutrition has played a pivotal role as a principal supplier to Ideal Protein, specializing in the manufacturing and distribution of premium high protein food and weight loss products. With over four decades of industry leadership, Bariatrix Nutrition offers a seamless transition for Ideal Protein's branded product line and is committed to maintaining the high-quality formulations integral to the protocol and enjoyed by consumers. Bariatrix Nutrition, with multi-site operations in both Canada and the United States is well positioned to support Ideal Protein following the acquisition and foster innovation moving forward.

Existing Ideal Protein clients can expect a seamless transition, with a continued focus on delivering exceptional service and outcomes. The acquisition opens new avenues for research, development, and expansion, with the shared vision of making positive contributions to the health and wellness of communities worldwide.

SOURCE Bariatrix Nutrition Inc.

For further information: For media inquiries, please contact Dr. Tran and Roderick Egger at idealprotein@bariatrix.com.

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BARIATRIX NUTRITION

BARIATRIX NUTRITION INC.
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