NEXGEL (NASDAQ:NXGL) has announced a partnership with Engima Health for marketing services and to distribute its hydrogel products in retail stores across North America.
A new joint venture (JV) company, Enigma Health will also be providing services for Moiety, a topical lotions and cream manufacturer, NEXGEL (NASDAQ:NXGL) said.
“We are excited to leverage the expertise and market presence of Enigma Health’s management team to expedite the delivery of our cutting-edge hydrogel topical patches directly to consumers,” NEXGEL (NASDAQ:NXGL) CEO Adam Levy said.
“Our leading products are performing very well online and we believe now is the opportune time to broaden our distribution channels.”
Leading the JV are experienced retail distribution and industry experts, NEXGEL highlighted.
Joe Magnacca, who has served in multiple executive roles including as the CEO of Massage Envy, Walgreens president, and Duane Reade president, will be the JV’s distribution executive and a board member.
George Lamont, who has over 30 years of executive experience in strategic food, drug brokerage sales, and marketing, will serve as its chief revenue officer and as a board member.
"We are elated to embark on this transformative journey alongside NEXGEL and Moiety,” Magnacca said in a statement.
"This joint venture represents an unparalleled opportunity to amplify our reach and make innovative topical solutions accessible to consumers across North America and beyond.”
NEXGEL is a leading provider of ultra-gentle, high-water-content hydrogels for healthcare and consumer applications.
Contact the author at emily.jarvie@proactiveinvestors.com
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