HealthEdge Portfolio Company Enaltus Completes Add-on Acquisition
Suwannee, GA & Tampa, FL – October 18, 2012 – HealthEdge Investment Fund, L.P. (“HealthEdge”), a Tampa, Florida-based private equity fund focused exclusively on healthcare, and its portfolio company SOS Brands, Inc. (d/b/a “Enaltus”) recently acquired the assets of WWWEnterprise, Inc. (“WI” or the “Company”) for continued commercialization through its subsidiary, MedAltus, LLC.
Originally founded in 1997, WI is based in Bloomfield, New York and is the only third-party internet skin care company in North America providing complete e-commerce skin store solutions for physicians. The Company uses its e-commerce and internet order fulfillment platform for over 600 websites. WI partners with physicians to develop a channel for the specialty products that are not easily found in mainstream pharmacies. WI uses over 230 skincare product suppliers and has over 45,000 active customers.
Enaltus is a Suwannee, Georgia-based dermatological products business primarily focused on marketing and selling products in the scar treatment space. The Company’s flagship product, Kelo-cote®, is a patented, self-drying, silicone-based topical medical gel used for scar treatment and prevention. HealthEdge acquired ABT in 2007 and appointed HealthEdge Partner Jeff Thompson as its Chairman and Chief Executive Officer. Together, HealthEdge and Mr. Thompson built a management team that has grown the business to become a leading provider of dermatological products. This is the second acquisition for Enaltus — in April 2009, ABT acquired Belli Skincare, a physician-formulated skin care products business providing treatments for mothers and infants.
Mr. Thompson said, “We believe Enaltus’ acquisition of WI assets will create long term shareholder value by expanding the Company’s product offering through an effective e- commerce platform for physicians. The added distribution capability will also enhance order efficiency and provide a greater logistical advantage that will benefit both companies.”
Enaltus is the U.S. operations of Advanced Bio-Technologies, which was acquired by Sinclair Pharmaceuticals (“Sinclair,” London: SPH.L) in late 2011. Enaltus is a dermatological products company focused on scar treatment and prevention. The company’s flagship product is Kelo- cote®, a patented, self-drying, silicone-based topical medical gel that dries within five minutes to form an invisible protective silicone sheet over the applied area. The protective barrier is flexible, odorless, waterproof, transparent, and breathable, and cosmetics and sun block can be applied after the gel has dried. The gel softens and flattens raised scars and reduces redness and itching.
In April 2009, ABT acquired Belli, a women’s health and wellness company focused on providing physician-formulated skin care treatments for mothers and infants. Belli sets a new standard for cosmetic ingredient safety as the only company in the world that performs an ongoing review of the published medical literature and screens out any ingredients linked to harmful effects during pregnancy, nursing and infancy. Enaltus is headquartered in Suwannee, GA.
HealthEdge Investment Partners, LLC 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 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.
For more information, please contact Jeff Thompson at HealthEdge Investment Partners at (770) 329-8766.