New-York based private equity firm MTS Health Investors has acquired Woodbury Health Products Inc., a direct-to-consumer distributor of incontinence and catheter-related supplies. The seller was Health Edge Investment Partners. Terms were not released. This acquisition was made from MTS Health Investors II, L.P., which closed in 2007 and is now fully invested, the firm said.
MTS Health Investors, LLC (“MTS”), the New-York based healthcare private equity firm, announced today that funds managed by MTS have acquired Woodbury Health Products, Inc. (“Woodbury”) from Health Edge Investment Partners. Woodbury is a direct-to-consumer distributor of incontinence and catheter-related supplies to over 20,000 customers for use in the home setting. This acquisition was made from MTS Health Investors II, L.P., which closed in 2007 and is now fully invested. Terms of the transaction were not disclosed.
As part of the transaction, MTS will appoint several MTS executives and advisors to Woodbury’s Board of Directors, each of whom brings relevant operating experience. They include Oliver Moses, MTS Partner; Alex Buzik, MTS Principal; Peter Crowley, MTS Operating Partner; and Peter Vitulli, CEO of DNA Diagnostics Center (an MTS portfolio company). These individuals will join current CEO, Brian Darling, on the company’s Board of Directors. In addition, the senior management team of Woodbury will remain with the company going forward.
Mr. Moses said in regard to the transaction, “We are excited to acquire Woodbury as a portfolio company. We have been actively evaluating the urological catheter and incontinence supply sector for some time and we believe the company is well positioned, with strong growth potential. The industry fundamentals are being driven by an aging population subject to chronic conditions and an increased focus on managing those conditions in a cost-effective manner that improves customers’ quality of life.”
Abacus Financial Group, LLC provided senior debt financing for the transaction.
Woodbury Health Products, Inc. is a distributor of incontinence and catheter-related supplies, offering a broad product portfolio of over 500 incontinence SKUs and over 650 catheter SKUs that are delivered directly to customers at their homes. Based in Oceanside, NY, the company offers nationwide distribution from its four distribution centers in New York, North Carolina, Florida, and Alabama.
MTS Health Investors, LLC, located in New York, is a healthcare private equity firm that makes investments in operating companies within the healthcare industry. MTS targets companies that provide cost-effective solutions in the services and low-technology manufacturing sectors of the healthcare industry, including: providers of outsourced services to the healthcare industry; providers of healthcare services, including institutional, ambulatory or home care services; providers of managed care and other healthcare insurance services; distributors of medical products; and manufacturers of low-technology medical devices and supplies.