Nutrition21 LLC was acquired by Everwell Health Holdings LLC, a new consumer health and wellness functional ingredients platform established by private equity firm RoundTable Healthcare Partners.
Nutrition21 LLC (Harrison, NY) was acquired by Everwell Health Holdings LLC (Lake Forest, IL), a new consumer health and wellness functional ingredients platform established by RoundTable Healthcare Partners, an operating-oriented private equity firm focused exclusively on the healthcare industry. Everwell is actively pursuing partnerships and business development opportunities with additional functional ingredient companies with a focus on amplifying investments in clinical studies, new product development, marketing, and sales.
"Our new ingredients platform, anchored by an industry leader in Nutrition21, builds upon our experience in consumer healthcare," said Pierre Frechette, RoundTable managing partner and chairman of the board of Everwell Health, in a press release. "As consumers demand more from their products, we believe scientifically-backed, high-quality functional ingredients are poised for strong growth to meet this need."
Steve Rosenman has been appointed chief executive officer of Everwell Health. Rosenman will focus on expanding the Everwell platform through organic initiatives and strategic business development. "I am excited to join Everwell and partner with Nutrition21 to build this new platform," said Rosenman. "RoundTable's unique operating expertise and core values, centered around reputation and trust, are the right fit to raise the bar in the functional ingredients market and add value to our partners. With a long and rich history of combining ingredient innovation with strong clinical studies and IP, Nutrition21 provides a strong foundation for future growth. I look forward to working with Joe Weiss and the entire Nutrition21 team."
"I look forward to partnering with Steve and the RoundTable team to accelerate Nutrition21's growth and help Everwell become a leading platform across the entire functional ingredients market," added Joe Weiss, president of Nutrition21.
Everwell Health represents the fifth equity investment from RoundTable’s $700 million Equity Fund V, and seventh platform investment in the consumer healthcare market in the last nine years.