BNET Industries

Market Cap:$27.4M
Last Fiscal Year Sales:$10.5M
  • Public
  • US
Dow Jones Description

Founded in 1981 (as Control Drug Inc.), Medical Nutrition USA, Inc. (MNI), develops and distributes nutrition-medicine products for the nutritionally at risk who are under medical supervision. We focus on evidence-based research to develop better clinical outcomes for nursing home residents, dialysis patients and bariatric surgery patients. Our primary customers are long-term care facilities, hospitals, dialysis clinics and bariatric surgery clinics and their patients. MNI is a Delaware corporation whose shares are publicly traded on NASDAQ under the symbol MDNU. Our principal offices are at 10 West Forest Avenue, Englewood NJ, 07631.

Chairman & CEO
Francis A. Newman
Number of Employees 31
Contact Information

10 West Forest Avenue

Englewood, New Jersey 07631

www.mdnu.com

(201) 569-1188

NAICS Code Medicinal and Botanical Manufacturing: 325411

Recent Events

  • Medical Nutrition USA, Inc. Introduces New Fiber-StatR Formulation With Prune Juice Concentrate

    10/02/09 - Product Announcement - View Story

  • Medical Nutrition USA, Inc. Introduces New Fiber-StatR Formulation With Prune Juice Concentrate

    10/02/09 - Product Announcement - View Story

  • Medical Nutrition USA Inc reports USD125,000 net income for Q2

    9/11/09 - Financial Announcement - View Story

  • Medical Nutrition USA, Inc.: Medical Nutrition Signs Retail Licensing Deal With DSE

    6/11/09 - Joint Venture / Alliance - View Story

News & Analysis

medical nutrition usa inc. - All News and Analysis

Decision Makers

Name (plus bio) Position
Alan Levy Cfo, Chief Accounting Officer, Treasurer, Secretary & Vice President, Finance
Arnold Gans Chief Scientific Officer
Jeffrey Janco Coo & Senior Vice President, Operations
Myra Gans Executive Vice President
David Shapiro Vice President, Sales

Board of Directors

Name (plus bio) Position
Francis A. Newman Chairman & CEO
Andrew Horowitz Board of Directors
Bernard Korman Board of Directors
Mark H. Rosenberg Board of Directors

Chairman and Chief Executive Officer since 2003 and a director since November 2002. From 1993-2000 he was Chairman, President and CEO of Eckerd Corporation, one of the largest drug store chains in the United States, and from 1986-1993 was President and CEO of F&M Distributors, Inc. a drug store chain. Mr. Newman is a director of Jabil Circuit, Inc., Jo-Ann Stores and MTS Medical Technology. He has served on the board of the National Association of Chain Drug Stores since 1993, including as its Chairman (1999-2000) and is a member of the board of advisors of University of Michigan School of Pharmacy and a Trustee of Sidwell Friends School, Washington D.C.

Organization Position Status
Medical Nutrition USA Inc. Chairman & CEO Current

Organization Position Status
Medical Nutrition USA Inc. Cfo, Chief Accounting Officer, Treasurer, Secretary & Vice President, Finance Current

President since the company’s formation in 1981 until 2007. Mr. Gans was previously President of Control Drug, Inc. a manufacturer of nutritional protein supplements. Mr. Gans was granted patents in 1977, which he has assigned to the Company, for method-use manufacturing for certain nutritional formula processes relating to the use of certain foods to treat nutritional deficiency. Mr. Gans has served on the Board of Holy Name Hospital in Teaneck, New Jersey. He serves on the Alumni Board of Columbia University's School of Public Health and is Chairman of the Alumni Federation Scholarship Aid Committee. Mr. Gans holds a Bachelor of Science degree in Pharmaceutical Chemistry from Columbia University.

Organization Position Status
Medical Nutrition USA Inc. Chief Scientific Officer Current

Promoted to Senior Vice President of Operations in October 2006. Mr. Janco previously served as the Company’s Vice President of Operations since 1992. Upon joining the Company, he performed in the capacity of Operations Manager. His responsibilities include office administration, supply chain management, inside sales/customer service, human resources, information technology and logistics. He earned his Bachelor of Business Administration degree from the University of Miami.

Organization Position Status
Medical Nutrition USA Inc. Coo & Senior Vice President, Operations Current

Executive Vice President since 1982, Secretary from 1990 to December 2006. Ms. Gans has over 25 years of experience working with clinicians and hospitals to integrate the Company’s products and programs as well as in organizing seminars for physicians. Currently, Ms. Gans initiates and manages customer agreements and distribution contracts for branded products as well as all the federal, state and county bids. She is responsible for the marketing effort for branded products and handles all advertising and associated matters. Ms. Gans also develops the marketing and business plans for all new products. She attended Cornell University and Finch College and holds a Bachelor of Arts degree in English Literature.

Organization Position Status
Medical Nutrition USA Inc. Executive Vice President Current

Organization Position Status
Medical Nutrition USA Inc. Vice President, Sales Current

Andrew Horowitz, J.D. has been a Director since September, 2002. His most recent ventures were Partners Healthcare, a leading institutional pharmacy company that he started in 1998, and Care Alternatives, a hospice service provider, that he acquired in 2000. Upon graduation from Emory Law School, Mr. Horowitz joined the New Jersey law firm of Norris, McLaughlin & Marcus in the practice of business and tax law. Mr. Horowitz has been in healthcare since succeeding his father in the management of Scotchwood Pharmacy, a successful pharmacy business his dad started 35 years earlier. In 1995, Scotchwood was acquired by The Multicare Companies, a nursing home company traded on the NYSE. Pursuant to that acquisition, Mr. Horowitz became Director of Multicare’s pharmacy operations and in 1996 became a senior officer in the Company, responsible for all ancillary businesses, including homecare, portable diagnostics and medical supply. Upon Multicare’s acquisition by Genesis Health Ventures in 1997, he left to develop Partners. In 2003, Partners, Care Alternatives and Solutions Healthcare, a JCAHO accredited infusion-therapy business also owned by Mr. Horowitz, were sold to investors as part of a like-kind roll-up, and he left the Company in May, 2005.

Organization Position Status
Medical Nutrition USA Inc. Board of Directors Current

Bernard J. Korman has been a director since September 2004. Mr. Korman is Chairman of Philadelphia Health Care Trust, a Foundation dedicated to supporting healthcare delivery, research and education. After practicing law in Philadelphia for 13 years, in 1968 he founded and was Chairman, President and CEO of American Medicorp, Inc. (NYSE), one of the first public hospital management companies in the United States. From 1977 until 1995, he served as President and CEO of MEDIQ Incorporated (AMEX), a healthcare services company, and Chairman of PCI Services, Inc. (NASDAQ), a pharmaceutical packaging services company (1983-1996). Mr. Korman presently serves as a Director of The New America High Income Fund, Inc. (NYSE); Omega Healthcare Investors, Inc. (NYSE); and NutraMax Products, Inc.

Organization Position Status
Medical Nutrition USA Inc. Board of Directors Current

Mark H. Rosenberg has been a director since March 2004. He is one of eight investment professionals at MHR Fund Management LLC, a $2 billion fund focused on middle market distressed businesses. He previously was Vice President with CRT Capital Group LLC in Greenwich, CT, where he was a Research Analyst of distressed high yield and convertible debt covering the healthcare industry, among others. He was the former president of Rosemark Management, Inc. in New York City where he managed a portfolio of operating businesses and real estate investments. He serves on the Board of Ben Arnold Sunbelt Beverage Company of South Carolina, L.P., Columbia, SC. Mr. Rosenberg graduated from the Wharton School, University of Pennsylvania and holds a Bachelors of Science in Economics, 1984.

Organization Position Status
Medical Nutrition USA Inc. Board of Directors Current
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     MDNU $1.94 0.00 (0.00% )
Average Volume 1,696
Shares Outstanding 14.10M
Market Cap 27.4M
Year High 2.7
Year Low 0.8201
Earnings Per Share -0.01
P/E Ratio -194.50
Dividend N/A
Yield N/A
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