Health and wellness company Callitas Health Inc. (CSE:LILY, OTCQB:MPHMF, OTCMKTS: MPHMF) announced Tuesday that it has signed a non-exclusive licensing and technology pact with LifeStyles Ltd for its patented arousal gel and lubricants for use on condoms and as a standalone product for retail around the world.
Under the terms of the agreement, Cincinnati-based Callitas will receive a variable, single-digit royalty on net sales of all products sold worldwide by Lifestyles on any of their brands.
LifeStyles is the world’s No. 2 condom maker and traces its roots back to Australian entrepreneur Eric Norman Ansell, who started making condoms in 1905. LifeStyles Healthcare was created in 2017 when the consortium of Humanwell Healthcare & CITIC Capital private equity purchased the sexual wellness division.
“Partnering of Callitas’ non-branded products and technologies to reach new markets and sales channels is a critical component of our business model,” said Callitas Health CEO James M Thompson. “Partnering with the worldwide leader in sexual wellness, Lifestyles Ltd is an outstanding way to expand our sales as we look forward to a long-term, mutually beneficial future.”
Moreover, Callitas will also assist LifeStyles in the development of additional sexual health and wellness retail consumer goods.
“We have been so pleased to work with Callitas on our SKYN Excite Gel formula, a topical active gel powered by the active ingredient L-Arginine, an amino acid that helps relax and dilate blood vessels, increasing blood flow to sensitive areas,” said LifeStyles CEO Jeyan Heper. “Our consumer studies have shown that 84% of women reported an improvement in their ability to intensify climax after multiple uses of this product.”
Heper said his company looks forward to working closely with Callitas to develop new products to enhance pleasure in the sexual wellness space.
Shares in Callitas were up 4.65% to C$0.23.
Contact Uttara Choudhury at firstname.lastname@example.org
Follow her on Twitter: @UttaraProactive