Audax Private Equity has acquired Medi-Weightloss, an operator of science-based, physician-supervised weight-loss and wellness clinics, with approximately 100 franchised and company-owned locations nationally.
Audax Private Equity (Audax) has acquired Medi-Weightloss, an 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 have not been disclosed.
Headquartered in Tampa, Florida, Medi-Weightloss offers customised 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.
Franchised clinics account for approximately 80% of Medi-Weightloss’ 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.
Medi-Weightloss represents the second investment completed by Audax Private Equity’s 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.