Jan 7 2014
Sverica International Management LLC ("Sverica International" or "Sverica"), a private equity investment firm, announced today that it made an additional equity investment in RestorixHealth, a comprehensive wound care management company. The investment supports RestorixHealth's acquisition of Candescent Healing, which operates outpatient wound care centers. The combination creates one of the largest networks of wound care service providers in the United States.
Chronic wounds are a significant health problem affecting millions of people. That number is growing rapidly due in part to an aging population and a sharp rise in the incidence of diabetes and obesity. Caring for chronic wounds requires specialized care and advanced training, and as chronic wounds become more prevalent, the demand for specialized wound care centers also increases.
Sverica initially invested in RestorixHealth (formerly the Center for Wound Healing) in December 2010. Since then, RestorixHealth has more than doubled the number of outpatient centers under management through organic, de novo development. In addition to its equity investment, Sverica has supported the company in building its management team, in setting strategic direction, identifying add-on targets, and securing several rounds of debt financing. The acquisition of Candescent Healing is the second add-on acquisition completed by RestorixHealth.