RoundTable Healthcare Partners (Lake Forest, IL), an operating-oriented private equity firm focused exclusively on the health care industry, announced that it has established Everwell Health Holdings, LLC, a new consumer health and wellness functional ingredients platform. Concurrently, Everwell Health announced its acquisition of Nutrition21, LLC (Harrison, NY) as its first investment. Financial details of the transaction were not disclosed.
Everwell Health’s mission is to add meaningful value to dietary supplement, food and beverage brands by offering scientifically substantiated functional ingredient solutions that aim to help people look, feel and perform their best, the company stated. Everwell Health will actively pursue partnerships and business development opportunities with additional functional ingredient companies, and will focus on amplifying investments in clinical studies, new product development, marketing and sales.
Nutrition21, led by Joe Weiss, president, is a developer and marketer of high-value, clinically substantiated ingredients for use in dietary supplements, foods and beverages. The company stated that it currently holds more than 100 domestic and international issued and pending patents for its ingredients which support unique claims associated with glucose metabolism, weight management, cognition, and sports nutrition, among others. Nutrition 21’s ingredient portfolio includes the brands Nitrosigine, Velositol, Chromax, Lustriva and nooLVL.
“Our new ingredients platform, anchored by an industry leader in Nutrition21, builds upon our experience in consumer health care,” said Pierre Frechette, RoundTable managing partner and chairman of the board of Everwell Health. “As consumers demand more from their products, we believe scientifically backed, high-quality functional ingredients are poised for strong growth to meet this need.”
RoundTable also announced the appointment of Steve Rosenman to the position of CEO of Everwell Health. In this role, Rosenman will focus on expanding the Everwell platform through organic initiatives and strategic business development. Rosenman brings more than 20 years of experience in consumer health and wellness and has held senior leadership positions in sales, marketing, product innovation, and strategic planning, most recently with International Vitamin Corporation.
“I am excited to join Everwell and partner with Nutrition21 to build this new platform,” said Rosenman. “RoundTable’s unique operating expertise and core values, centered around reputation and trust, are the right fit to raise the bar in the functional ingredients market and add value to our partners. With a long and rich history of combining ingredient innovation with strong clinical studies and IP, Nutrition21 provides a strong foundation for future growth. I look forward to working with Joe Weiss and the entire Nutrition21 team.”
“I look forward to partnering with Steve and the RoundTable team to accelerate Nutrition21’s growth and help Everwell become a leading platform across the entire functional ingredients market,” added Weiss.