Evonik Industries, a speciality chemicals manufacturer, completed the acquisition of innovativeHealth Group, a bio-pharmaceutical company. Financial terms were not disclosed. "With this latest acquisition we have strengthened our innovative power in the area of cosmetic active ingredients. We will now be able to optimize the costs and development time, as well as achieve high quality and high performance products that show attractive and scientifically proven properties," Tammo Boinowitz, Evonik Senior Vice President.