BioTech USA Acquires SCITEC
By: Scott Welch
In May of 2016, we reported that SCITEC sold their business to a massive South African pharmaceutical and healthcare company called Ascendis Health. The price tag was approximately 186,575,000 U.S. dollars (€170 million euros). Less than 4 years later, SCITEC has now been sold to Atlas Invest (which is part of the BioTech USA) for just 5,435,250.00 U.S. dollars (€5 million euros). That’s a loss of over $180 million! SCITEC’S financial performance had deteriorated over the past few years due to increased competition, profit erosion and volume losses caused by the loss of key partners they were working with.
Who is BioTech USA?
BioTech is a massive Hungarian supplement company established in 1999 with over 900 employees and 170 supplement stores in France, Italy, Germany, Austria, Slovakia and Hungary. They distribute their products in roughly 70 countries with a massive range of products in every category. They also own one of Europe’s largest manufacturing plants and have an army of athletes under contract including social media icon Ulisses, Stephanie Davis, Alexis Gonzalez Benitez, Virag Kiss, Jamo Kiss and many more. 
SCITEC has their own manufacturing facility also and an army of athletes under contract including Mr.Olympia Brandon Curry, Ahmd Ashkanani, Francesca Stoico and many others. With both companies based in Hungary with their own manufacturing facilities, both widely distributed around the world with tons of athletes under contract, this seems like a great acquisition for BioTech. Let’s also not forget the gaining of talented staff this will also hopefully include which will breath new life back into SCITEC and create great synergies between both brands. With Covid-19 destroying the supplement industry in Europe over the past 3 months coupled with a strong U.S. currency, expect BioTech and other European brands to dominate the Euopean market in the back half of 2020 over their American competitors.