Healthcare private equity firm Avista Capital Partners has acquired consumer health product manufacturer WellSpring Consumer Healthcare from Audax Private Equity for an undisclosed amount.
This acquisition represents Avista breaking into the consumer healthcare sector. WellSpring specializes in consumer healthcare product segments such as first aid, therapeutic skincare and digestive health, according to the Aug. 23 Avista news release.
"We are thrilled to be working closely with Avista, whose deep experience partnering with healthcare companies, particularly in the consumer healthcare sector, will propel us forward as we execute on new product innovation, distribution expansion, and strategic acquisitions. Improving the health and wellness of our consumers is core to our mission," CEO of WellSpring Chris Brown said. "In collaboration with Avista and the retail community, we are excited to continue growing our differentiated and trusted brands in these important needs-based categories."