Praesidian Capital, a provider of senior and subordinated capital for small and mid-sized businesses, has led a USD12.0 million mezzanine debt investment and a USD0.3 million equity co-investment to support the acquisition of Remedy Health Media (Remedy) by Topspin Partners (Topspin).
Headquartered in New York, NY, Remedy is a leading digital health platform specialising in inspirational, video-based storytelling and award-winning digital brands. The Company’s portfolio of brands includes HealthCentral, TheBody, TheBodyPro, BerkeleyWellness, and Healthcommunities. Its largest property, HealthCentral, has become a primary destination for inspirational multimedia patient stories – under the Live Bold, Live Now initiative – that connects Remedy’s audiences to real patients who live with chronic conditions, but have persevered to accomplished great feats.
Leigh Randall, Managing Partner at Topspin, says: “Praesidian has proven to be an excellent partner that provides flexible capital and is able to meet aggressive timelines. We have closed several deals with the Praesidian team, and they have consistently delivered.”
Glenn Harrison, Partner of Praesidian Capital, says: “We are pleased to have closed another deal with the Topspin team, and we are very excited about our new partnership with Remedy. The Company has an impressive track record of growth and is well-positioned to capitalise on the favourable growth trends within the industry.”
