RoundTable Healthcare Partners and Signet Healthcare Partners Establish New Platform in the Global Consumer Healthcare Market
Advantice Health Becomes a Global Consumer Healthcare Company with Category Leading Brands
LAKE FOREST, IL, April 1, 2019 — RoundTable Healthcare Partners ("RoundTable"), an operating-oriented private equity firm focused exclusively on the healthcare industry, and Signet Healthcare Partners ("Signet"), an established provider of growth capital to innovative healthcare companies, announced today that they have established a new global consumer healthcare platform focused on over-the-counter ("OTC") pharmaceuticals. The new platform company, Advantice Health, consists of the category-leading brands recently acquired from Moberg Pharma AB ("Moberg"). The brands Kerasal®, Kerasal Nail®, New Skin®, Dermoplast®, Domeboro®, Emtrix®, and Zanmira® fall into the footcare and first-aid OTC categories.
Advantice Health is the eighth company in RoundTable's current portfolio, joining three other companies participating in the consumer healthcare marketplace. "RoundTable's fourth platform investment in the consumer healthcare market represents a highly strategic opportunity for us," said Thomas P. Kapfer, Senior Operating Partner and Chairman of the Board of Advantice Health. "OTC pharmaceuticals are poised for considerable growth as consumers take more responsibility and make decisions for their own healthcare."
Mr. Kapfer continued, "Our newly-acquired brands provide an excellent foundation for us to build upon. We see a clear opportunity to build the Advantice product portfolio in OTC therapeutic skin care. Our work in prescription-based dermatology products and high-end cosmetic skin care provides us with the experience and expertise needed to add value to this business. This value creation orientation has been a long-standing strategic requirement for us."
RoundTable also announced the appointment of Timothy J. Connors to the position of Chief Executive Officer of Advantice Health. Tim has over 30 years of experience in consumer healthcare and has held senior leadership positions in sales, marketing, new product development, and strategic planning.
"We are pleased to welcome Tim to Advantice Health and to RoundTable," said Mr. Kapfer. "Tim is an outstanding leader who has a wealth of experience, expertise, and insight with a consistent track record of success. His appointment is a key element of our ongoing strategy to complement the management teams of our portfolio companies with world-class talent to accelerate their prospects for growth."
"I am excited to join the RoundTable family of companies and lead the Advantice Health team," said Mr. Connors. "Our newly acquired group of brands, with leading category positions, is a solid foundation for future growth. The company has a strong team of people and strategic partners that have created a successful business upon which we will build. We plan to invest in growing the category and our market share through innovative marketing, exciting new products, and acquisitions. RoundTable's unique operating orientation, transaction expertise, and commitment to the business will allow us to focus relentlessly on providing consumers with what they need, want, and value."
Advantice Health is the sixth investment from RoundTable's Equity Fund IV. Signet joined RoundTable as an investor in Advantice Health. As part of the transaction and to finance further growth opportunities for the company, RoundTable facilitated the completion of new senior credit facilities and a private placement of senior subordinated notes. The senior credit facilities were led by Capital One, National Association and included CIBC Bank USA and Madison Capital Funding LLC while the senior subordinated notes were provided by RoundTable Healthcare Capital Partners III, RoundTable's third captive subordinated debt fund. Sidley Austin LLP acted as legal advisor to RoundTable in this transaction.
About RoundTable Healthcare Partners
RoundTable Healthcare Partners, based in Lake Forest, IL, is an operating-oriented private equity firm focused exclusively on the healthcare industry. RoundTable partners with companies that can benefit from its extensive industry relationships and proven operating and transaction expertise. RoundTable has established a successful track record of working with owner/founders, family companies, management teams, entrepreneurs and corporate partners who share a vision and believe in the value creation potential of its partnership model. RoundTable has raised $2.75 billion in committed capital, including four equity funds totaling $2.15 billion and three subordinated debt funds totaling $600 million. More information about RoundTable Healthcare Partners can be found at www.roundtablehp.com.
About Signet Healthcare Partners
Signet Healthcare Partners is an established provider of growth capital to innovative healthcare companies. Signet invests in commercial-stage healthcare companies that are revenue generating or preparing for commercial launch. The firm's focus has primarily been on the pharmaceutical sector and medical technology companies. Signet maintains a disciplined, yet flexible investment approach. As an active investor, Signet partners closely with its companies to build their value including facilitating activities between portfolio companies. During Signet's 18-year history, it has developed a strong reputation and track record of successful investments. Signet has raised four funds with total capital commitments of over USD 400 million and has invested in more than 45 companies. More information about Signet Healthcare Partners can be found at www.signethealthcarepartners.com.