NeutraHealth was set up to buy neutraceutical companies. NeutraHealth joined AIM as a shell on 18 February 2005, when it raised £1.5m at 10p a share. This left the company with £276m in cash. It made its first acquisition was vitamins supplier BioCare in August 2005. BioCare cost £16.1m and NeutraHealth raised £10m at 10.5p a share. Nutraceuticals producer Nutrigold was acquired for up to £1.3m in February 2006, Health Products for Life for £464,000 in July 2007and the Gerard House and Galloway brands for £400,000 in February 2008. Brunel, a supplier of neutraceuticals and over the counter medicines, was acquired for £5.5m in January 2007. The OTC medicines business was split off and sold to Perrigo Inc for £6.2m in June 2008. Bombay-listed Elder Pharmaceuitcals acquired a 20% stake in NeutraHealth at 16p a share in the summer of 2007.

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