The Riverside Company, a global private equity firm focused on the smaller end of the middle market, has signed a definitive agreement to sell ActivStyle, a distributor of consumable medical supplies with an emphasis on incontinence products, to AdaptHealth Corp. The proposed transaction is expected to close in June 2020, subject to the satisfaction of customary closing conditions.
During Riverside’s hold, ActivStyle became a leading direct-to-consumer supplier of incontinence and urological supplies with a culture based on integrity, teamwork and best-in-class patient service, growing the business to serve more than 65,000 patients across 48 states.
“It was a pleasure working with the ActivStyle team; together we delivered immense accomplishments,” says Riverside Managing Partner Loren Schlachet. “During our hold, we completed nine add-on investments, expanded the product portfolio and introduced a full private-label branded line of incontinence products.”
ActivStyle’s platform was built specifically to distribute essential products and supplies directly to patients, primarily for the Medicaid and Medicare populations. Over time, the company established itself as a leading national distributor with the ability to scale and add new products and serve additional markets.
“We are proud of the work we have done with ActivStyle, a company whose high-quality products, at-home distribution model and superior service improve the lives of the patients it serves every day,” says Riverside Assistant Vice President Christopher Shea. “We are happy to say that, with the help of Riverside, ActivStyle is poised to continue its path as the leading direct-to-consumer supplier of incontinence and urological supplies, and we look forward to watching its next chapter with AdaptHealth.”
This is one more example of Riverside’s dedication to its Healthcare Specialisation. Riverside has invested in more than 150 platform and add-on healthcare companies and possesses a team of industry experts who understand how to grow healthcare companies around the globe.
“Riverside has been a great strategic partner,” says ActivStyle CEO Gayle Devin. “Their support and collaboration resulted in ActivStyle becoming the leading medical supply provider with a stellar reputation in the industry for quality products and outstanding service. We look forward to our next phase of success with AdaptHealth.”
Working with Schlachet and Shea on the deal for Riverside were Analyst Aakeem Andrada and Finance Director Doug Guess.
Cain Brothers provided financial advisement on the transaction for Riverside.
