{"id":51298,"date":"2022-11-28T15:03:37","date_gmt":"2022-11-28T14:03:37","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/audax-private-equity-announces-acquisition-of-medi-weightloss-inc\/"},"modified":"2022-11-28T15:03:37","modified_gmt":"2022-11-28T14:03:37","slug":"audax-private-equity-announces-acquisition-of-medi-weightloss-inc","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/audax-private-equity-announces-acquisition-of-medi-weightloss-inc\/","title":{"rendered":"Audax Private Equity Announces Acquisition of Medi-Weightloss, Inc."},"content":{"rendered":"
\n

BOSTON & TAMPA, Fla.–(BUSINESS WIRE)–Audax Private Equity (\u201cAudax\u201d) announced the acquisition of Medi-Weightloss, Inc. (\u201cthe Company\u201d), a leading operator of science-based, physician-supervised weight-loss and wellness clinics, with approximately 100 franchised and company-owned locations nationally. Buzz Franchise Brands is co-investing alongside Audax as a minority-stake partner. Financial terms of the transaction were not disclosed.\n<\/p>\n

\nHeadquartered in Tampa, Florida, Medi-Weightloss offers customized weight-loss programs designed to address obesity and other related diseases, including heart disease, stroke, type-2 diabetes and other specific conditions generally covered by commercial insurance payors. The Company also sells a line of proprietary nutritional supplements, healthy-food products and vitamins that treat comorbidities caused by obesity.\n<\/p>\n

\nFranchised clinics account for approximately 80% of Medi-Weightloss\u2019 total locations. The Company provides comprehensive support to its base of professional franchisees, ranging from compliance and regulatory oversight to other support functions, such as advanced staff training, IT, quality assurance, franchise-performance consulting, and advertising and marketing.\n<\/p>\n

\n\u201cMedi-Weightloss differentiates itself a number of ways,\u201d noted Edward Kaloust, founder and board member of Medi-Weightloss. \u201cBeyond the breadth and scope of the Company\u2019s individualized programs spanning the full continuum of care, our value proposition rests on the documented efficacy of our approach. For instance, a two-year study demonstrated that the diet and intensive lifestyle and behavioral programs offered by Medi-Weightloss reduced the prevalence of metabolic syndrome by 45% in 13 weeks and by 73% over 52 weeks. Moreover, patients on the Medi-Weightloss individualized calorie-restricted program lost 29 pounds, on average, over a 13-week period.\u201d\n<\/p>\n

\n\u201cThe obesity epidemic is only getting worse,\u201d added Ken Hall, incoming CEO of Medi-Weightloss. \u201cOur customized programs, tailored to the specific conditions of each individual, are developed by physicians board-certified to treat obesity. We\u2019re thrilled to partner with Audax Private Equity to accelerate our growth and address this challenge through personalized programs that catalyze the lifestyle and behavioral changes necessary to deliver improved health outcomes to our patients.\u201d\n<\/p>\n

\n\u201cWe are excited that Medi-Weightloss has decided to partner with Audax Private Equity and believe the firm represents an ideal steward for the Medi-Weightloss brand going forward,\u201d added Kurtis Freidag, President of Medi-Weightloss\u2019 Franchisee National Advisory Council. \u201cAudax can help propel us to the next level and has an established track record of facilitating growth in companies like ours. People need these services more than ever and it\u2019s exciting to think about how many more people we will be able to help.\u201d\n<\/p>\n

\n\u201cMedi-Weightloss represents a prototypical deal for our Origins strategy, which builds on Audax\u2019 historic focus in the lower middle market,\u201d added Keith Palumbo, Managing Director at Audax Private Equity. \u201cIn addition to strategic initiatives focused on enhancing Medi-Weightloss\u2019 current patient outcomes and unit performance, we see a compelling opportunity to expand the Company\u2019s geographic footprint through new franchise growth and acquisitions that will expand access to care for an underserved and growing patient population.\u201d\n<\/p>\n

\nMedi-Weightloss represents the second investment completed by Audax Private Equity\u2019s lower middle market Origins strategy. Kroll Securities, LLC served as financial advisor to the sellers. Ropes & Gray LLP served as legal counsel to Audax and Quarles & Brady LLP served in the same capacity to the Company.\n<\/p>\n

\nABOUT AUDAX PRIVATE EQUITY<\/b>\n<\/p>\n

\nAudax Group is a leading alternative investment manager with offices in Boston, New York, San Francisco and London. Since its founding in 1999, the firm has raised over $32 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $9 billion in more than 150 platforms and over 1,100 add-on companies, and is currently investing in add-ons out of its $3.5 billion, sixth private equity fund. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With more than 360 employees and over 150 investment professionals, the firm is a leading capital partner for North American middle market companies. For more information, visit the Audax Private Equity website at www.audaxprivateequity.com<\/a> or follow us on LinkedIn. \u200b\u200b\u200b\u200b\u200b\u200b\u200b\n<\/p>\n

\nABOUT MEDI-WEIGHTLOSS<\/b>\n<\/p>\n

\nBased in Tampa, Florida, Medi-Weightloss is a national franchisor and direct provider of physician-supervised weight loss and wellness clinics, and a provider of healthy food products and supplements. With approximately 100 franchised and company-owned locations across 27 states, Medi-Weightloss prides itself on its evidence-based approach to treatment through clinical research. To learn more, visit the company website at www.mediweightloss.com<\/a>\n<\/p>\n

Contacts<\/b> <\/p>\n

\nAudax Private Equity
\n
Julie Rudnick
\n
FGS Global
\n
audax@fgsglobal.com<\/a>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

BOSTON & TAMPA, Fla.–(BUSINESS WIRE)–Audax Private Equity (\u201cAudax\u201d) announced the acquisition of Medi-Weightloss, Inc. (\u201cthe Company\u201d), a leading operator of science-based, physician-supervised weight-loss and wellness clinics, with approximately 100 franchised and company-owned locations nationally. Buzz Franchise Brands is co-investing alongside Audax as a minority-stake partner. Financial terms of the transaction were not disclosed. Headquartered in … [Read more…]<\/a><\/span><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"entry","1":"post","2":"publish","3":"author-business","4":"post-51298","6":"format-standard","7":"category-industry"},"yoast_head":"\nAudax Private Equity Announces Acquisition of Medi-Weightloss, Inc. - Pharma Trend<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pharma-trend.com\/en\/audax-private-equity-announces-acquisition-of-medi-weightloss-inc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Audax Private Equity Announces Acquisition of Medi-Weightloss, Inc. - Pharma Trend\" \/>\n<meta property=\"og:description\" content=\"BOSTON & TAMPA, Fla.–(BUSINESS WIRE)–Audax Private Equity (\u201cAudax\u201d) announced the acquisition of Medi-Weightloss, Inc. (\u201cthe Company\u201d), a leading operator of science-based, physician-supervised weight-loss and wellness clinics, with approximately 100 franchised and company-owned locations nationally. Buzz Franchise Brands is co-investing alongside Audax as a minority-stake partner. Financial terms of the transaction were not disclosed. Headquartered in ... 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