BioNova, the Nova Scotian life sciences industry association, has chosen Nature’s Way’s acquisition of Ascenta Health as its good news story of the past year.

The association last night held its annual Good News and Blues festivity – a chance to celebrate a good news story in the biotech sphere, and listen to blues played by members of the life sciences community. And it announced the best news of the past 12 months.

Dartmouth-based Ascenta Health, whose NutraSea brand of nutritional products are made naturally from omega-3 fatty acids, said last May it had been bought by Nature’s Way, an affiliate of Dr. Willmar Schwabe Pharmaceuticals of Germany. Nature’s Way, a global natural health leader, decided to make Halifax its Canadian headquarters after the acquisition.

Ascenta Founder and CEO Marc St-Onge retained the ownership of Ascenta Skin, the company’s newly developed high-end skincare brand. Though the financial details of the sale to Nature’s Way were not disclosed, St-Onge said there was no earn-out, and he was free to develop Ascenta Skin as a new business. It is now known as Bend Beauty. 

“We are thrilled to be recognized as such a positive story in the region,” said Steve Chiasson, Vice President and General Manager at Nature’s Way Canada.  “We have spent a great deal of time over the past year building a team, strengthening our brands, and expanding our infrastructure to facilitate long-term growth for our business in Canada,”

BioNova said in a statement the availability of a talented workforce, universities and a strong research support system were deciding factors for Nature’s Way. The transition was made easier with the support of Ascenta’s existing team.

“This acquisition validates what we believe – we have the ability to compete on a global scale and be home to high-value companies that are making a global impact. Attracting companies like Nature’s Way is something to be celebrated and embraced,” said BioNova’s Managing Director Scott Moffitt.