Home Wellness is a blue-chip company that has an outstanding track record with customers, regulatory compliance, and value-driven performance. The acquisition delivers key markets and outstanding relationships to ActivStyle.
(PRWEB) June 15, 2011
The Riverside Company further expanded ActivStyle, its consumable medical products retailing platform, with the add-on acquisition of Home Wellness, Inc. & Stay Dry Products, Inc. (Home Wellness). Based in Cinnaminson, New Jersey, Home Wellness is a specialty distributor of catheters and incontinence supplies, much like Minneapolis-based ActivStyle.
The acquisition is the fourth add-on to ActivStyle and the second of 2011. The other additions to ActivStyle were Senior Care Services (2007), Advocate Medical Services (2010) and Ostomy Center (2011). Each add-on has helped ActivStyle expand its footprint or add services to more effectively meet customers’ needs.
Founded in 1994, Home Wellness primarily delivers a broad range of catheter supplies to patients throughout the mid-Atlantic region.
“Home Wellness is a blue-chip company that has an outstanding track record with customers, regulatory compliance, and value-driven performance. The acquisition delivers key markets and outstanding relationships to ActivStyle,” said Riverside Managing Partner Loren Schlachet. “We’re building on ActivStyle’s strong performance and building a company that will reach more patients, delivering to them the quality products they need.”
Home Wellness built its patient base by forging long-term relationships with a strong network of physician, nurse and other healthcare professional referral sources. Home Wellness adds value for its referral network by handling all required paperwork and insurance verification and by providing product expertise that physicians may lack. Home Wellness is able to spend time helping patients select the most appropriate product for their needs which often leads to better patient outcomes and more efficient and cost-effective service.
“Adding Home Wellness really strengthens us in the mid-Atlantic region,” said ActivStyle CEO Dan Filippini. “We believe there are some solid opportunities to deepen relationships and expand in Home Wellness’ existing markets, even as we continue to expand ActivStyle nationally. We also look forward to having a strong group of sales, customer service and operational people from Home Wellness join the ActivStyle team.”
In addition to Schlachet, working on the deal for Riverside were Jack Nestor, Principal; Jeff Tobin, Operating Partner; Marques Martin, Associate; and Mary Anne McLaren, Finance Director.
ActivStyle’s existing lending partner, US Bank, provided financing for the transaction. Jones Day provided legal counsel on the transaction, and RSM McGladrey provided accounting due diligence.
The transaction is Riverside’s 56th healthcare acquisition, bolstering the firm’s deep specialization in the sector. Overall, it is Riverside’s 256th acquisition and the ninth of 2011.
The Riverside Company (http://www.riversidecompany.com or http://www.riversideeurope.com)
The Riverside Company is a global private equity firm focused on acquiring growing enterprises valued at up to $200 million (€200 million in Europe). The firm partners with strong management teams and enhances its investments through acquisitions and organic growth. Since its founding in 1988, Riverside has invested in more than 250 transactions with a total enterprise value of more than $5.4 billion/€4.4 billion. The firm’s portfolio in North America, Europe and the Asia Pacific region includes more than 75 companies with roughly 14,000 employees. Riverside completes acquisitions smoothly thanks to $3.4 billion/€2.7 billion in assets under management, more than 195 professionals in 19 offices, and longstanding relationships with partner lenders.