HealthEdge Completes Woodbury Products Investment
TAMPA, FLORIDA– April 28, 2008 – HealthEdge Investment Partners, LLC (“HealthEdge”) announced today that it has completed its acquisition of WPI Holdings and its wholly-owned subsidiaries.
Headquartered in Oceanside, New York, WPI Holdings d/b/a Woodbury Products (“Woodbury”) is a direct to consumer distributor of high quality incontinence and other related healthcare products. Woodbury offers over 250 items, including baby and adult diapers, pull-ups, pads, and liners with approximately 50 different diapers. The Company also sells gloves, creams, wipes, and other products required by their target customers. Woodbury maintains approximately 30,000 square feet of office and warehouse space in Oceanside, New York and recently opened a distribution center in South Florida to expand its distribution capabilities and decrease shipping costs.
The Company was founded in 1977 by Robert Jablonski, who will be retiring as part of the transaction. The Company’s Vice President and senior executive operator, Brian Darling, also a significant shareholder, has worked at the Company for over 15 years and will become Chief Executive Officer.
According to Mr. Darling, “We are excited to partner with HealthEdge and leverage its relationships in healthcare, which we know will help us build Woodbury into a leading distributor of high quality products. With HealthEdge’s guidance, we have already launched multiple initiatives to improve our operations, controls, and sales and marketing strategy. We will aggressively pursue continued expansion in the U.S. to gain a greater market share of an industry with attractive growth potential and favorable industry dynamics.”
HealthEdge Investment Partners is an operating-oriented private equity firm founded in 2005 that focuses exclusively on the healthcare industry. HealthEdge seeks to achieve superior returns by investing in businesses that benefit from the knowledge, experience and network of relationships of its partners. HealthEdge’s partners have more than 100 years of combined operating experience in healthcare as CEOs and investors. For more information on HealthEdge, visit www.healthedgepartners.com.
About Woodbury Products
Woodbury Products Inc. is a direct to consumer distributor of high quality incontinence products to customers in the United States. Incontinence is the lack of voluntary control of excretory functions and may be a permanent or temporary condition. The Company also sells gloves, creams, wipes, and other products required by their target customers. Woodbury maintains approximately 30,000 square feet of office and warehouse space in Oceanside, New York and recently opened a distribution center in South Florida.
For more information, please contact Brian Anderson at HealthEdge Investment Partners at (813) 490-7100, or Brian Darling at Woodbury Products at (516) 594-8100.