“Our new ingredients platform, anchored by an industry leader in Nutrition21, builds upon our experience in consumer healthcare,” said Pierre Frechette, RoundTable Managing Partner and Chairman of the Board of Everwell Health. “As consumers demand more from their products, we believe scientifically-backed, high-quality functional ingredients are poised for strong growth to meet this need.”
Everwell Health’s mission is to add value to supplements, foods, and beverages by offering scientifically substantiated functional ingredient solutions, according to a press release. Everwell Health will pursue partnerships and business development opportunities with other functional ingredient companies, and will invest in clinical studies, new product development, marketing, and sales.
Nutrition21 is a developer and marketer of clinically substantiated ingredients for use in supplements, foods, and beverages, the press release states. The company currently holds over 100 domestic and international issued and pending patents for its ingredients, which support claims associated with glucose metabolism, weight management, cognition, and sports nutrition. Nutrition21’s ingredient portfolio includes the brands Velositol, Nitrosigine, Chromax, Lustriva, and nooLVL.
Joe Weiss, President of Nutrition21, said in the release: “I look forward to partnering with Steve and the RoundTable team to accelerate Nutrition21’s growth and help Everwell become a leading platform across the entire functional ingredients market.”
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RoundTable has appointed Steve Rosenman to the position of CEO of Everwell Health. Rosenman will focus on expanding the Everwell platform through organic initiatives and strategic business development, the press release says. He brings more than 20 years of experience in consumer health and wellness, and has held senior leadership positions in sales, marketing, product innovation, and strategic planning, most recently with International Vitamin Corporation."I am excited to join Everwell and partner with Nutrition21 to build this new platform," said Mr. Rosenman. "RoundTable's unique operating expertise and core values, centered around reputation and trust, are the right fit to raise the bar in the functional ingredients market and add value to our partners. With a long and rich history of combining ingredient innovation with strong clinical studies and IP, Nutrition21 provides a strong foundation for future growth. I look forward to working with Joe Weiss and the entire Nutrition21 team.”
Everwell Health represents the fifth equity investment from RoundTable’s $700 million Equity Fund V and seventh platform investment in the consumer healthcare market in the last nine years.
Sidley Austin LLP acted as legal advisor to RoundTable in this transaction. William Hood & Company served as exclusive financial advisor to Nutrition21 for the transaction.
