NEW YORK--(BUSINESS WIRE)--Praesidian Capital, a leading provider of senior and subordinated capital for small and mid-sized businesses, announced today that it agented a $12.0 million mezzanine debt investment and a $0.3 million equity co-investment to support the acquisition of Remedy Health Media (“Remedy” or the “Company”) by Topspin Partners (“Topspin”).
Headquartered in New York, NY, Remedy is a leading digital health platform specializing in inspirational, video-based storytelling and award-winning digital brands. The Company’s portfolio of brands includes HealthCentral, TheBody, TheBodyPro, BerkeleyWellness, and Healthcommunities. Its largest property, HealthCentral, has become a primary destination for inspirational multimedia patient stories—under the Live Bold, Live Now™ initiative—that connects Remedy’s audiences to real patients who live with chronic conditions, but have persevered to accomplished great feats.
Leigh Randall, Managing Partner at Topspin, commented: “Praesidian has proven to be an excellent partner that provides flexible capital and is able to meet aggressive timelines. We have closed several deals with the Praesidian team, and they have consistently delivered.”
Glenn Harrison, Partner of Praesidian Capital, commented: “We are pleased to have closed another deal with the Topspin team, and we are very excited about our new partnership with Remedy. The Company has an impressive track record of growth and is well-positioned to capitalize on the favorable growth trends within the industry.”
About Remedy Health Media
Remedy Health Media (Remedy) is a leading digital health platform that provides content, tools and real stories in an emotionally engaging way to inspire millions of patients and caregivers to live healthier and more fulfilled lives. Remedy is improving consumer health engagement and outcomes through the development of authentic communities of health information seekers who can interact and learn from a relatable physician, pharmacist, public health and patient experts. Remedy currently helps over 200 million health consumers annually through various digital, mobile and point of care information products and technologies. To learn more about Remedy, please visit www.RemedyHealthMedia.com.
About Praesidian Capital
Praesidian Capital is an innovative private investment firm focused on providing senior and subordinated debt along with growth capital to private lower middle market businesses in the United States, United Kingdom, Germany, and selectively in Northern Europe. Praesidian invests in established small and mid-sized companies, often in connection with management buyouts, recapitalizations, and refinancings. Based in New York with an office in London, Praesidian manages nearly $1 billion in committed capital. For more information, visit www.praesidian.com.
About Topspin Partners
Topspin Partners is a suburban NY-based private equity fund that makes investments in profitable and established lower middle-market businesses. The firm invests across a number of industries, including health and wellness, media and information services and consumer products and services. The Topspin team has considerable operational expertise and collaborates with management teams to build businesses of varying stages and sizes. Further information on Topspin can be found at www.topspinpartners.com.