Sinnott discusses the role of Open Innovation in Mannatech’s product
development
COPPELL, Texas--(BUSINESS WIRE)--Apr. 8, 2013--
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.
Source: Mannatech, Incorporated
Mannatech, Incorporated
Brett Duncan, 972-471-7367
bduncan@mannatech.com