Addition of A+D® and Solarcaine® bolsters scale, product diversity, and opportunities to accelerate WellSpring’s innovation pipeline
New York, NY and Sarasota, FL – April 4, 2023 – WellSpring Consumer Healthcare, a developer and marketer of leading over-the-counter and personal care brands, today announced the acquisition of a portfolio of well-recognized and trusted over-the-counter (OTC) skin care brands from Bayer AG. Financial terms of the transaction were not disclosed. WellSpring Consumer Healthcare is a portfolio company of Avista Capital Partners, a leading middle-market healthcare private equity firm with expertise in building OTC platforms.
The brands include A+D®, a leading diaper rash and skin protectant brand, Solarcaine®, the leading sunburn relief brand, and Cortate® and Complex 15®, two Canadian therapeutic skincare brands. A+D® is a widely recognized brand that has been endorsed by pediatricians and trusted by consumers for over 80+ years. Solarcaine® is a pharmacist-recommended medicated burn relief brand that has been relied upon by consumers for generations.
Chris Brown, CEO of WellSpring Consumer Healthcare, said: “We are thrilled with the additions of A+D® and Solarcaine®. These trusted, iconic brands align with our core mission to improve the health and wellness of our consumers and will reinforce our position as a leader in important needs-based segments, such as therapeutic skincare. WellSpring’s growth model continues to deliver strong results with our focus on new product innovation, distribution expansion, and strategic acquisitions. A+D® and Solarcaine® offer unique opportunities to accelerate our robust product pipeline.”
Alex Yu, Partner at Avista Capital Partners, said: “This is a highly strategic acquisition for WellSpring, which not only adds established OTC brands to the WellSpring portfolio, but also provides attractive scale, future growth opportunities, and expands our presence in one of WellSpring’s core product categories. We are excited for WellSpring to continue building upon the strong heritage of these brands through innovative and high-quality new product development.”
The acquisition of A+D® and Solarcaine ® represents WellSpring’s first add-on acquisition since Avista’s investment in WellSpring in August 2022. WellSpring is currently evaluating additional opportunities to further its strong growth trajectory.
ABOUT WELLSPRING CONSUMER HEALTHCARE
Founded in 1999 in Sarasota, Florida, WellSpring develops and markets a diversified portfolio of trusted OTC brands in the U.S. and Canada, with several that enjoy leading positions in important needs-based product segments such as therapeutic skincare and digestive health. The WellSpring portfolio now includes well-known therapeutic skincare brands such as A+D® (diaper rash and skin protectant), Bactine® (germ-focused skincare) and Solarcaine® (medicated sunburn relief), and category-leaders in digestive health such as Bonine® (motion sickness) and Emetrol® (anti-nausea). WellSpring is an established consumer healthcare platform with a sophisticated omni-channel distribution network that includes leading brick and mortar and e-commerce retailers, a robust new product innovation infrastructure, and a strong growth trajectory. Learn more at https://wellspringpharm.com/.
ABOUT AVISTA CAPITAL PARTNERS
Founded in 2005, Avista Capital is a leading New York-based private equity firm with over $8 billion invested in more than 40 growth-oriented healthcare businesses globally. Avista partners with businesses that feature strong management teams, stable cash flows and robust growth prospects – investing in the medical devices and technologies, pharmaceuticals, outsourced pharmaceutical services, healthcare technology, healthcare distribution, and consumer healthcare sectors. Avista helps its portfolio companies to accelerate growth through strategic acquisitions, having completed over 100 add-on acquisitions historically across its healthcare portfolio. Avista’s Operating Executives and Advisors are an integral part of the team, providing strategic insight, operational oversight and senior counsel, which helps drive growth and performance, while fostering sustainable businesses and creating long-term value for all stakeholders. For more information, visit www.avistacap.com.
Daniel Yunger and Hallie Wolff