COSTA MESA, Calif.--(BUSINESS WIRE)--Lindora, one of the largest medically supervised weight loss and wellness companies in the country, announced today that it has received additional funding that will allow the company to accelerate its expansion of clinic locations and extend its line of naturally flavored, gluten free, clean-label food products within its Lindora Nutrition® brand. The recent growth capital round included an entirely new investment from Montage Capital, as well as follow-on investments from Solis Capital Partners and Innovate Partners.
“It’s exciting to see the commitments from our investor partners who truly believe in our mission and the market opportunity,” said Will Righeimer, Chief Executive Officer of Lindora. “This new round of capital will allow us to accelerate our plans and further establish Lindora as the best wellness solution for people looking to lose weight and live healthier, happier lives.”
“Lindora has a truly unique position in the weight loss and wellness space because the program is rooted in science and it’s medically supervised, which makes it highly effective,” said Eric Gonzales, Managing Director at Montage Capital. “This investment was also of particular interest to us because of Lindora’s mission to transform patients’ lives. That made Lindora a perfect candidate for our Social Impact Fund, which was created to invest in companies that deliver a meaningful, positive impact to our society. We believe that Lindora is an attractive investment based on both its mission and its expected financial return,” said Gonzales.
Dan Lubeck, Managing Partner at Solis Capital partners added, “This is a show of our confidence in the management team and its plan. We believe that Lindora is positioned to dramatically expand its traditional direct to patient channel. Perhaps even more important, no other company is better aligned to support the health and business communities with a proven weight loss and obesity solution for patient and employee populations than Lindora.”
Bob Allison, Managing Partner at Innovate Partners said, “With two-thirds of Americans being either overweight or obese, the need for Lindora’s products and services has never been greater. Lindora’s expanded product offering, along with its plans for additional retail and business to business patient channels, will be powerful growth strategies, which is why we’ve reinforced our commitment and invested additional equity.”
Lindora CEO Righeimer added, “We have long recognized our patients’ demand for healthy, on-trend, food and supplements, which is why we created the Lindora Nutrition® and Lindora Wellness® brands. Now, we’re able to rapidly expand those lines and deliver those new products to patients through our existing 35 clinics, our online platform, our B2B channels and our newly designed clinic sites which will open over the next twelve to eighteen months.”
Lindora is one of the largest, medically supervised weight loss, wellness and consumer products company in the United States. The nationally recognized brand has helped tens of thousands of people lose weight and live happier, healthier lives for nearly 50 years. Lindora’s comprehensive weight management and wellness programs teach patients how to lose weight rapidly and keep it off by eating better, exercising more and managing stress more effectively. Lindora operates 35 clinic locations in Southern California. Lindora’s mission is to transform people’s lives through weight loss and wellness. The company is majority owned by Solis Capital Partners and Innovate Partners, both located in Newport Beach, CA. For additional information about Lindora, visit lindora.com.
About Montage Capital
Montage Capital provides minimally dilutive growth debt to capital efficient companies. Their tailored debt solutions allow companies to make the investments needed for growth while preserving ownership and control for stakeholders. Montage capital structures create alignment with key stakeholders and focus on helping increase shareholder value. Montage is based in Silicon Valley, CA. For more information, visit montagecapital.com.
About Solis Capital Partners
Solis Capital Partners is a private equity firm specializing in the lower middle market. Headquartered in Newport Beach, California, Solis invests in companies with revenues of $15 to $100 million, typically in the service, consumer products, niche manufacturing, and software sectors. For additional information, visit soliscapital.com.
About Innovate Partners
Innovate Partners is an operationally oriented venture capital fund that makes equity and equity-related investments in companies that are active in the technology, business services and consumer products sectors, with a strategy currently focused on consumer technology and big data. For more information, visit innovatepartnersllc.com.