Private equity firm Sverica International said Tuesday that it has increased its stake in wound management company RestorixHealth. The investment supports RestorixHealth’s acquisition of Candescent Healing. No financial terms were disclosed. Headquartered in Tarrytown, NY, Candescent Healing operates a network of outpatient wound care centers.
BOSTON–(BUSINESS WIRE)–Sverica International Management LLC (“Sverica International” or “Sverica”), a private equity investment firm, announced today that it made an additional equity investment in RestorixHealth, a comprehensive wound care management company. The investment supports RestorixHealth’s acquisition of Candescent Healing, which operates outpatient wound care centers. The combination creates one of the largest networks of wound care service providers in the United States.
Chronic wounds are a significant health problem affecting millions of people. That number is growing rapidly due in part to an aging population and a sharp rise in the incidence of diabetes and obesity. Caring for chronic wounds requires specialized care and advanced training, and as chronic wounds become more prevalent, the demand for specialized wound care centers also increases.
Sverica initially invested in RestorixHealth (formerly the Center for Wound Healing) in December 2010. Since then, RestorixHealth has more than doubled the number of outpatient centers under management through organic, de novo development. In addition to its equity investment, Sverica has supported the company in building its management team, in setting strategic direction, identifying add-on targets, and securing several rounds of debt financing. The acquisition of Candescent Healing is the second add-on acquisition completed by RestorixHealth.
RestorixHealth develops and manages comprehensive wound care centers of excellence that offer advanced treatment therapies along with hyperbaric oxygen therapy. Founded by physicians in 1997 to treat the growing incidence of chronic, non-healing wounds, RestorixHealth’s centers utilize a quality- and data-driven approach to consistently achieve high treatment success rates, resulting in a dramatic increase in patient quality of life. The company currently manages centers throughout the United States in partnership with hospitals and health care facilities. For more information, visit www.restorixhealth.com.
About Sverica International
Sverica International is a leading private equity firm that has raised over $425 million of investment capital across three funds. The firm acquires, invests in and actively builds companies that are, or could become, leaders in their industries. Since 1993 Sverica has maintained a “high touch” operating philosophy of taking an active role in portfolio companies. Sverica devotes significant internal resources to help its management teams develop and execute growth strategies. For more information, please visit www.sverica.com.