COPPELL, Texas--(BUSINESS WIRE)--Mannatech, Incorporated (NASDAQ: MTEX), the leading innovator and provider of naturally sourced supplements based on Real Food Technology® solutions, is pleased to share that CEO and Chief Science Officer, Dr. Robert Sinnott was interviewed by Nutraceuticals World Magazine for their ongoing series titled “Open Innovation in Nutraceuticals & Functional Foods.”
The priority of Nutraceuticals World is to serve the manufacturers of dietary supplements, functional foods and nutritional beverages. The publication covers market and technology developments, dissects regulatory issues and provides international perspectives unique to the supplement, food and beverage market. In this particular issue, the article focuses on the actual practices of Open Innovation (OI), asking industry peers to share the experiences and challenges they have faced using these techniques for product development. Dr. Sinnott shared how Mannatech specifically incorporates Open Innovation to leverage its thousands of global distributors.
As quoted from the article from Dr. Sinnott:
“At Mannatech, we have always had enormous respect for the collective wisdom of our sales force—about 500,000 independent distributors in more than 20 countries—but the question for us was how to employ OI on a grand scale so they could be meaningfully and constructively engaged in our product ideation and development process.”
“The proof of the success of our innovative application of OI is, of course, reflected in the bottom line. We believe that our associates can sell these products with passion because they were created with their input and are thus fundamentally aligned with their beliefs and their needs.”
Open Innovation has contributed to the development of several of Mannatech’s proprietary products such as PhytoBurst® Chews, Omega-3 with Vitamin D3, GI-ProBalance® and BounceBack®. Mannatech’s newest flagship product, NutriVerus™ Powder (launched in May 2012), was specifically developed in response to suggestions made on the MannaThink℠ forum. Mannatech facilitates and fosters the culture of Open Innovation by hosting a dedicated website for its associates called MannaThink.
The full transcription of the interview can be found HERE. Individuals interested in Mannatech’s products or in exploring its business opportunity can learn more at Mannatech.com.
About Mannatech
Mannatech, Incorporated, develops high-quality health, weight and fitness, and skin care products that are based on the solid foundation of nutritional science and development standards. Mannatech is dedicated to its platform of Social Entrepreneurship based on the foundation of promoting, aiding and optimizing nutrition where it is needed most around the world. Mannatech’s proprietary products are available through independent sales Associates around the globe including the United States, Canada, South Africa, Australia, New Zealand, Austria, Denmark, Germany, Norway, Sweden, the Netherlands, the United Kingdom, Japan, Taiwan, Singapore, Estonia, Finland, the Republic of Ireland, Czech Republic, the Republic of Korea, Mexico and Namibia. For more information, visit Mannatech.com.
Please note: This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by use of phrases or terminology such as “believe,” “intend” or other similar words or the negative of such terminology. Similarly, descriptions of Mannatech’s objectives, strategies, plans, goals or targets contained herein are also considered forward-looking statements. Mannatech believes this release should be read in conjunction with all of its filings with the United States Securities and Exchange Commission and cautions its readers that these forward-looking statements are subject to certain events, risks, uncertainties and other factors. Some of these factors include, among others, Mannatech’s inability to attract and retain Associates and Members, increases in competition, litigation, regulatory changes and its planned growth into new international markets. Although Mannatech believes that the expectations, statements and assumptions reflected in these forward-looking statements are reasonable, it cautions readers to always consider all of the risk factors and any other cautionary statements carefully in evaluating each forward-looking statement in this release, as well as those set forth in its latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q, and other filings filed with the United States Securities and Exchange Commission, including its current reports on Form 8-K. All of the forward-looking statements contained herein speak only as of the date of this release.
