New York, NY – September 2, 2015 – 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 provides comprehensive, 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 http://www.restorixhealth.com