KUALA LUMPUR: LYC Healthcare Bhd has proposed to acquire a 70% stake in Clinical Nutrition Intl (M) Sdn Bhd for RM2.24mil cash.Clinical Nutrition is mainly involved in the supply of nutraceutical ingredients and owns a 50% shareholding in two proprietary probiotic strains namely lactobacillus plantarum DR7 and lactobacillus fermentum DR9.In a statement, LYC said it would streamline the interest in all its nutraceutical companies under LYC Nutrihealth Sdn Bhd (LYCN), a wholly-owned subsidiary under LYC Medicare Singapore Pte Ltd.“With rising awareness and consumption of health and wellness supplements, it is timely for us to enhance our market presence in this growing market by developing more products. Clinical Nutrition has two valuable ownership of probiotic strains that have demonstrated to successfully benefit overall health,” managing director cum group chief executive officer David Sui Diong Hoe said.“Looking ahead, there are ample opportunities for us to monetise these strains by leveraging on Aqurate Ingredients Intl (M) Sdn Bhd’s strong sales network and working together with foreign parties for international distribution.”The proposed acquisition is expected to be completed within three months.LYCN will also enter into a put option agreement with the vendors of Clinical Nutrition for the remaining 30% shareholding which shall be exercised from Sept 28, 2024 and shall expire by Sept 27, 2027.