LAKE FOREST, Ill., Nov. 10, 2021 /PRNewswire/ -- RoundTable
Healthcare Partners ("RoundTable"), an operating-oriented private
equity firm focused exclusively on the healthcare industry,
announced today that it has established Everwell Health Holdings,
LLC ("Everwell Health" or "Everwell"), a new consumer health and
wellness functional ingredients platform. Concurrently, Everwell
Health announced its acquisition of Nutrition21, LLC
("Nutrition21"), an active nutrition ingredients leader, as its
first investment. Financial details of the transaction were not
disclosed.
Everwell Health's mission is to add meaningful value to dietary
supplement, food, and beverage brands by offering scientifically
substantiated functional ingredient solutions that aim to help
people look, feel and perform their best. Everwell Health will
actively pursue partnerships and business development opportunities
with additional functional ingredient companies, and will focus on
amplifying investments in clinical studies, new product
development, marketing and sales.
Nutrition21, led by Joe Weiss,
President, is a developer and marketer of high-value, clinically
substantiated ingredients for use in dietary supplements, foods and
beverages. The company currently holds over 100 domestic and
international issued and pending patents for its ingredients which
support unique claims associated with glucose metabolism, weight
management, cognition, and sports nutrition, among others.
Nutrition 21's ingredient portfolio includes the brands
Nitrosigine®, Velositol®, Chromax®, Lustriva®, and nooLVL®.
"Our new ingredients platform, anchored by an industry leader in
Nutrition21, builds upon our experience in consumer healthcare,"
said Pierre Frechette, RoundTable
Managing Partner and Chairman of the Board of Everwell Health. "As
consumers demand more from their products, we believe
scientifically-backed, high-quality functional ingredients are
poised for strong growth to meet this need."
RoundTable also announced the appointment of Steve Rosenman to the position of Chief
Executive Officer of Everwell Health. In this role, Steve will
focus on expanding the Everwell platform through organic
initiatives and strategic business development. Steve brings more
than twenty years of experience in consumer health and wellness and
has held senior leadership positions in sales, marketing, product
innovation, and strategic planning, most recently with
International Vitamin Corporation.
"I am excited to join Everwell and partner with Nutrition21 to
build this new platform," said Mr. Rosenman. "RoundTable's unique
operating expertise and core values, centered around reputation and
trust, are the right fit to raise the bar in the functional
ingredients market and add value to our partners." Mr. Rosenman
continued, "With a long and rich history of combining ingredient
innovation with strong clinical studies and IP, Nutrition21
provides a strong foundation for future growth. I look forward to
working with Joe Weiss and the
entire Nutrition21 team."
"I look forward to partnering with Steve and the RoundTable team
to accelerate Nutrition21's growth and help Everwell become a
leading platform across the entire functional ingredients market,"
added Joe Weiss.
Everwell Health represents the fifth equity investment from
RoundTable's $700 million Equity Fund
V and seventh platform investment in the consumer healthcare market
in the last nine years. In addition to RoundTable's equity, senior
debt financing was provided by Capital One, National Association
and included CIBC Bank USA. Senior
subordinated notes were provided by RoundTable Capital Partners
III, RoundTable's captive subordinated debt fund. Sidley Austin LLP
acted as legal advisor to RoundTable in this transaction.
William Hood & Company served as
exclusive financial advisor to Nutrition21 for the transaction.
ABOUT EVERWELL HEALTH
Everwell Health aims to help
people look, feel and perform their best by advancing the science
of safe, convenient and attainable functional ingredients. The
company adds meaningful value to dietary supplement, food and
beverage brands by offering scientifically substantiated functional
ingredient solutions. The company is actively focused on business
development partnerships across the functional ingredients
market.
ABOUT NUTRITION 21
Nutrition21 develops and markets
efficacious, high-value, clinically substantiated ingredients for
use in dietary supplements, foods, and beverages. With over 30
years of biotechnology and pharmaceutical experience, the company's
scientific platform has continued to create unique, patented
products that are both safe and clinically effective. To build
consumer trust, Nutrition21 ensures product efficacy and safety
through a product development strategy that involves rigorous
preclinical and clinical research. The company currently holds over
100 domestic and international issued and pending patents for its
ingredients which support unique claims associated with glucose
metabolism, weight management, cognition, and sports nutrition,
among others. For more information, please
visit www.Nutrition21.com.
ABOUT ROUNDTABLE HEALTHCARE PARTNERS
RoundTable
Healthcare Partners, based in Lake Forest, IL, is an
operating-oriented private equity firm focused exclusively on the
healthcare industry. RoundTable partners with companies that can
benefit from its extensive industry relationships and proven
operating and transaction expertise. RoundTable has established a
successful track record of working with owner/founders, family
companies, management teams, entrepreneurs and corporate partners
who share a vision and believe in the value creation potential of
its partnership model. RoundTable has raised $3.45
billion in committed capital, including five equity funds
totaling $2.85 billion and three subordinated debt funds
totaling $600 million. More information about RoundTable
Healthcare Partners can be found at www.roundtablehp.com.
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SOURCE RoundTable Healthcare Partners