Healthspan
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| Predecessor | Healthspan Direct |
|---|---|
| Founded | 1996 |
| Founder | Derek Coates |
| Headquarters | Guernsey, The Channel Islands |
| Products | Vitamins, Minerals and Health supplements |
| Subsidiaries | Vista Hotels Group |
| Website | http://www.healthspan.co.uk/ |
Healthspan is a UK mail-order supplier of vitamins, minerals and health supplements. Established by Derek Coates in 1996, the company is based at the Healthspan House on the Channel Island of Guernsey.
Healthspan Direct was founded by Derek Coates in 1996, with an initial catalog of 10 products, eventually expanding to more than 150 products including nutritional supplements, herbal range products, skincare and cosmetic products (under the Nurture name) and veterinary supplements (as VetVits). In 2001, the company was renamed Healthspan.
In 2004, the Healthspan filed a lawsuit against Healthy Direct, another health supplement supplier based in Guernsey, claiming that the company had changed its name from C.I. Nutriceuticals Ltd. in order to profit from Healthspan's brand value. The application was dismissed. In 2008, Healthspan purchased Healthy Direct in what was reported to be "an eight-figure deal", making Healthspan the UK’s biggest direct supplier of nutrition supplements.
In January 2011, it was reported Coates was exploring the possibility of selling Healthspan for a price of around £150 million, with between 10 and 12 potential buyers submitting bids. Coates cited personal reasons related to a desire to reduce his workload, but stated that the existing management and workforce would not be affected. When four jobs were eliminated a week later, Healthspan denied that they were related to an impending sale, and were instead a result of the completed integration of Healthspan and Healthy Direct products. In 2011, the UK also announced it was ending the Low Value Consignment Relief (LVCR) loophole, which allowed retailers to avoid paying tax on goods exported from the Channel Islands to the UK that were under the value of £18. Healthspan challenged the decision, citing that countries located outside the EU, including Switzerland, Cyprus, Hong Kong, the USA and China, were not affected by the ruling. The company also announced that, following its legal challenge, it would begin exploring relocating its distribution operations, although its headquarters would remain in Guernsey.
In May 2011, it was announced that the company was no longer for sale, with the elimination of the LVCR being one of the main reasons, contributing to "too many uncertainties to maximise the value of a sale." Plans to sell the company were reported to have been put on hold for "at least two or three years." Coates also announced that he was stepping down as CEO of Healthspan in order to focus on other business interests and his personal life, although he would remain with Healthspan as the company's Group Chairman. He was replaced by former Deputy Chief Executive Graham Case, who was in turn replaced by Group Finance Director Michael Lawther, who maintains both roles.
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