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ChromaDex’s World Tour Hits New Zealand, Asia

Irvine-based supplement maker ChromaDex Corp. (Nasdaq: CDXC) is ramping up international expansion efforts.

It announced this month that its flagship product, Tru Niagen, will be sold in New Zealand through exclusive distributor Matakana Superfoods, a dietary supplement manufacturer and distributor.

ChromaDex sells proprietary ingredient nicotinamide riboside—a form of vitamin B3—as a supplement under the Tru Niagen name.

It says the product has a variety of antiaging and energy benefits. A 60-unit bottle sells for about $50.

ChromaDex began selling Tru Niagen overseas last year via a partnership with A.S. Watson Group, starting in Hong Kong and Macau. It expanded to Singapore this year.

The company recently announced the expansion of that partnership through mid-September 2021. The health and beauty retailer, which operates more than 6,800 stores in Asia and Europe, is a subsidiary of ChromaDex investor and Hong Kong billionaire Li Ka-Shing’s CK Hutchison Holdings Ltd.

ChromaDex said its product is currently available in 340 Watson health and beauty stores in Hong Kong, Macau and Singapore.

It will launch in Turkey this year via Watson.

ChromaDex recently announced second-quarter earnings, citing an 85% sales increase fueled by TruNiagen growth. Sales totaled $7.8 million, up from $4.2 million a year ago. It has about a $255 million market cap.

Li first invested in the company about a year ago, putting in $25 million.

The company wants to have positive cash flow by the end of next year.

European OK

Irvine-based medical device maker Cerenovus said it received European CE mark approval for its Bravo Flow Diverter, a product used in the treatment of intracranial aneurysms.

The device diverts blood flow from the aneurysm, reducing the risk of rupture—a main cause of hemorrhage stroke—and length of procedure. It’s the company’s first flow-diverter device.

The CE mark certification means the product can be sold in a number of European Union countries.

Cerenovus is a subsidiary of Johnson & Johnson (NYSE: JNJ), which launched the brand almost a year ago. Cerenovus’ product portfolio focuses on stroke care.

Aneurysms are a main cause of hemorrhagic strokes and occur when a weakened region of a blood vessel balloons until it ruptures. The device isn’t approved for use in the U.S.

Defibrillator Study

Medtronic PLC (NYSE: MDT) said it will start a pilot study of its investigational Extravascular Implantable Cardioverter Defibrillator. The device is placed outside of the heart and veins to deliver defibrillation.

The product has the potential to deliver the benefits of traditional implantable cardioverter defibrillators and eliminate the risk involved when the product is implanted inside the veins and heart, said Dr. Ian Crozier with the cardiology department at Christchurch Hospital in New Zealand. He’s a principal investor in the study, which will assess Medtronic’s device in 20 patients among four sites.

Medtronic is based in Minneapolis and has significant neurovascular manufacturing operations in Irvine.

Hospital Notes

• Insurer Aetna (NYSE: AET) recently introduced the regional Aetna Whole Health, a Southern California plan for companies with employees in Orange, Los Angeles and San Diego counties and parts of the Inland Empire. Fountain Valley-based MemorialCare will serve Orange County, Long Beach and South Los Angeles in the new plan. Other providers include PrimeCare Physicians Plans, Sharp and Providence Health & Services.

• Children’s Hospital of Orange County received a $200,000 grant from the James M. Cox Foundation to support piloting the region’s first pediatric psychiatric consultation access line. The program will help pediatricians provide patients with behavioral health treatment sooner and connect them to appropriate resources. The foundation, named after Cox Enterprises’ founder, provides funding in areas such as health, conservation and the environment, and early-childhood education.

• U.S. News & World Report published its annual America’s Best Hospitals list, which includes Hoag Memorial Hospital Presbyterian, St. Joseph Hospital-Orange, UCI Health, Mission Hospital and MemorialCare. Hoag remains the only local hospital ranked in the California top 10.

Mental Health

Mission Viejo-based Mynd Analytics Inc. (Nasdaq: MYND) announced that it will provide neuropsychiatric testing for Falls Church, Va.-based Inova Health System. The 237-bed hospital plans to offer Mynd’s PEER test—EEG-based (electroencephalogram) evaluation that aims to provide more personalized data to help physicians in the selection of appropriate medication to treat mental illness—for its psychiatric outpatient and inpatient services.

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