SCOTTSDALE, Ariz., April 6, 2009 (GLOBE NEWSWIRE) -- Health Enhancement Products, Inc. (OTCBB:HEPI) has engaged the marketing consulting firm Great Northern & Reserve Partners, LLC to lay the groundwork for a broad range of potential opportunities pending the outcome of a study being conducted at the Wayne State University Department of Nutrition and Food Science in Detroit, Michigan. HEPI recently awarded a grant to the university in order to investigate the preventive and therapeutic effects of its ProAlgaZyme (PAZ) bioactive compound.
Great Northern & Reserve Partners, LLC (GNRP), is a privately-held consulting firm specializing in developing business and marketing strategies. The principals of GNRP have conducted consulting services for several Fortune 500 companies, including Xerox, AT&T, GM, Ford, Northwest Airlines and Compuware. GNRP will conduct market research and plans to effectively align the PAZ bioactive compound with new markets and strategic partnerships. Further, the consulting firm will provide scientific and technical services to assist HEPI in exploring new and novel applications for PAZ.
"It's likely that we'll expand the potential markets for PAZ, but not as a free-standing product or for private-label use," says Andrew Dahl, president and lead consultant, GNRP. "Through our research, we are finding additional aspects of this compound that bring benefits to a larger base of health conscious individuals."
The consulting firm is also exploring options to redevelop the bioactive compound into forms that are compatible with sports drinks, functional foods and nutraceuticals. This would greatly increase its use and market acceptance without a commensurate increase in marketing expenditures.
"Pending the findings and outcomes of the Wayne State study, we'll be able to more clearly define our options moving forward," states Dahl. "We're going to address everything from production to formulations, strategic partnerships to licensing, and how to effectively create maximum value for our clients."
GNRP will not divulge details of its planning activities or its targeted markets, citing a strict policy of confidentiality and strategic necessity.
About Health Enhancement Products, Inc.
Health Enhancement Products, Inc. is a nutraceutical company engaged in the development of a dietary supplement product using only pure, all-natural ingredients. The Company's premier product is ProAlgaZyme (PAZ), a liquid product drawn from living algae grown in purified water. The purified water in which the algae are grown is drawn off, filtered and bottled as ProAlgaZyme.
About Great Northern & Reserve Partners, LLC (GNRP)
The firm specializes in developing novel marketing and business strategies for its Fortune 500 clients and technology driven startups. The firm also provides consulting services to private equity and investment groups interested in acquiring, redeveloping or selling companies, primarily in the technology and biotech fields. And finally, GNRP manages the intellectual property portfolios of a select group of private clients.
Safe Harbor Statement
Except for any historical information, the matters discussed in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve risks and uncertainties. A number of factors could cause actual results to differ from those indicated in the forward-looking statements, including the timing of completion of a trial, actual future clinical trial results being different than the results the company has obtained to date, and the company's ability to secure funding. Such statements are subject to a number of assumptions, risks and uncertainties. Readers are cautioned that such statements are not guarantees of future performance and those actual results or developments may differ materially from those set forth in the forward-looking statements. The company undertakes no obligation to publicly update or revise forward-looking statements, whether as a result of new information or otherwise.
For more information, please visit www.heponline.com.