Sverica Capital Management LLC said Thursday that it completed the sale of RestorixHealth Inc. to an investment group led by Leonard Green & Partners LP. Financial terms weren’t announced. The other investors were also not announced. Tarrytown, New York-based RestorixHealth provides wound care management solutions to hospitals.
September 03, 2015 06:00 AM Eastern Daylight Time
NEW YORK–(BUSINESS WIRE)–Sverica Capital Management LLC (“Sverica”), a private equity investment firm, announced today it closed on its sale of RestorixHealth, Inc. (“RestorixHealth”) to an investment group led by Leonard Green & Partners, L.P. (“Leonard Green & Partners”). Based in Tarrytown, NY, RestorixHealth providescomprehensive, turnkey wound care management solutions to hospitals.
Sverica acquired a majority interest in RestorixHealth (then The Center for Wound Healing) in December 2010. Over the course of its investment, Sverica optimized the organizational structure of the business, added depth to the management team, guided the company through double digit organic growth, and completed three add-on acquisitions.
“We are thrilled to have been partners with RestorixHealth through a transformative phase in the company’s development,” said Dave Finley, Managing Director at Sverica. “RestorixHealth has grown from a regional operator to a bona fide industry leader with a national footprint. Both Sverica and management felt it was an opportune time to explore another financial partner. Leonard Green & Partners is the ideal partner to help guide management in the continued growth of RestorixHealth.”
“Sverica has been a fantastic partner for RestorixHealth. Their strategic input has been invaluable to our success. The company wouldn’t be where it is today without their board level oversight and involvement,” said Steve McLaughlin, RestorixHealth’s Chief Executive Officer. “Sverica’s growth-oriented investment model facilitated the company’s nearly quadrupling of treatment centers during their ownership.”
“RestorixHealth has established itself as a leader in the wound care management industry and has built a fantastic business by focusing on value added solutions for their customers,” said John Baumer, Partner at Leonard Green & Partners. “We look forward to working with Steve and the team to support the next phase of the Company’s growth.”
RestorixHealth is a leading manager of comprehensive wound care treatment centers that offer advanced wound care modalities as well as hyperbaric oxygen therapy (“HBOt”). The Company manages wound care centers nationwide in partnership with local acute care hospitals. RestorixHealth was founded by physicians in 1997 with a focus on establishing in-hospital centers of excellence to treat the growing incidence of severe grade diabetic wounds of the lower extremities and wounds that are unresponsive to general wound care treatments. The Company’s centers have consistently achieved high treatment success rates, resulting in a dramatic increase in patient quality of life and significant cost savings to the healthcare system. For more information, visit www.restorixhealth.com.
About Sverica Capital Management
Sverica is a leading private equity firm that has raised over $500 million of investment capital across multiple funds. The firm seeks to invest in companies that are or could become leaders in their industries, and works closely with the management of such companies to facilitate their growth. Since 2001, 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, visit www.sverica.com.
About Leonard Green & Partners, L.P.
Leonard Green & Partners, L.P. is one of the nation’s preeminent private equity firms with over $15 billion of private equity capital raised since inception. Founded in 1989, the firm has invested in over 70 companies with an aggregate value of over $85 billion in the form of traditional buyouts, going-private transactions, recapitalizations, growth capital investments, corporate carveouts and selective public equity and debt positions. Based in Los Angeles, California, Leonard Green & Partners invests in established companies that are leaders in their markets. For more information, please visit www.leonardgreen.com