ZO® Skin Health, Leading Physician-Dispensed Skincare Brand, Bolsters Growth With Majority Investment By Blackstone
October 05 2020 - 12:37PM
Business Wire
ZO® Skin Health, a premium California-based skincare brand sold
globally through physicians and skincare professionals, announced
today that funds managed by Blackstone Tactical Opportunities
acquired a majority stake in the business. Terms of the transaction
were not disclosed.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20201005005778/en/
Founded in 2007 by Dr. Zein Obagi, the company has strengthened
Dr. Obagi’s mission to create healthy skin for all and developed a
line of high-quality skincare products. “The Blackstone team
supports both my vision of delivering healthy skin to all people
and the business potential of the company. Together, we are
committed to grow our brand globally and are excited for the next
stage of growth for ZO,” said Dr. Zein Obagi.
“On behalf of ZO’s management team, we are thrilled to work with
Dr. Zein Obagi and our new partner in Blackstone. We will now have
greater resources and tools to help us on our path in becoming the
leading global physician-dispensed brand,” said President and CEO
Mark Williams.
Todd Hirsch, a Senior Managing Director at Blackstone, said:
“ZO® Skin Health is one of the fastest-growing brands in the
rapidly expanding professional skincare market. We are thrilled to
partner with ZO, Dr. Zein Obagi and the management team to continue
to serve patients.”
Ram Jagannath, Global Head of Healthcare for Blackstone Growth
and Tactical Opportunities, said: “ZO® Skin Health’s results-driven
products are best-in-class in the physician market, and their
position as a trusted skincare brand has made them a market leader
and partner to medical professionals. We look forward to investing
further in the business to drive growth and believe ZO is well
positioned to continue delivering premier solutions to physicians
and patients.”
About Blackstone
Blackstone is one of the world’s leading investment firms. We
seek to create positive economic impact and long-term value for our
investors, the companies we invest in, and the communities in which
we work. We do this by using extraordinary people and flexible
capital to help companies solve problems. Our $564 billion in
assets under management include investment vehicles focused on
private equity, real estate, public debt and equity, life sciences,
growth equity, opportunistic, non-investment grade credit, real
assets and secondary funds, all on a global basis. Further
information is available at www.blackstone.com. Follow Blackstone
on Twitter @Blackstone.
About Tactical Opportunities
Tactical Opportunities (Tac Opps) is Blackstone’s opportunistic
investment platform. The Tac Opps team invests globally across
asset classes, industries and geographies, seeking to identify and
execute on attractive, differentiated investment opportunities. As
part of the strategy, the team leverages the intellectual capital
across Blackstone’s various businesses while continuously
optimizing its approach in the face of ever-changing market
conditions.
About ZO® Skin Health
ZO® Skin Health develops and delivers innovative skincare
solutions that optimize skin health based on the latest advances in
skin therapy technologies, unique delivery systems, bioengineered
complexes and exclusive formulations. By providing comprehensive
skincare programs for physicians and their patients, ZO® bridges
the gap between therapeutic treatments and daily care, allowing
patients to experience continuously healthy skin regardless of
their age, ethnicity or unique skin condition. For more
information, please visit www.zoskinhealth.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20201005005778/en/
PRESS CONTACT: Blackstone Matt Anderson +1-212-390-2472
matthew.anderson@blackstone.com
ZO® Skin Health zoskinhealth@thisismission.com
Blackstone (NYSE:BX)
Historical Stock Chart
From Mar 2024 to Apr 2024
Blackstone (NYSE:BX)
Historical Stock Chart
From Apr 2023 to Apr 2024