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Riverside Continues Building Medical Supply Platform April 05, 2011

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Ostomy Center Joins ActivStyle As Add-On

The Riverside Company continued to grow its platform company ActivStyle with the add-on acquisition of Ostomy Center, a Chicago-based medical supply company. Ostomy Center offers incontinence, enteral, urology, ostomy and wound care products, a similar product offering to Minneapolis-based ActivStyle, which specializes in the home delivery of incontinence and urology products.

Ostomy Center provides service principally to customers in Illinois, serving more than 3,000 clients with a customer base that skews towards children and other customers under 20 years old. This should allow ActivStyle to diversify the demographics of its historically older customer base.

“We see a significant growth opportunity in Ostomy Center,” said Riverside Managing Partner Loren Schlachet. “ActivStyle is already well-established in Illinois, and this acquisition adds completely new customers. We are excited about what ActivStyle’s sales force can do to deepen customer relationships and uncover unmet needs.”

Ostomy Center has built a strong reputation and brand in the Chicago market by providing high quality products and high customer service to its patients and their families. The Company’s service offering includes a direct-to-home delivery model in the Chicago area, creating timely delivery to patients in need.

“Ostomy Center is a wonderful company that’s created a successful niche for itself among younger people with a need for our type of products,” said ActivStyle CEO Dan Filippini. “We look forward to building on its strengths while driving growth through some of the proven strategies at ActivStyle.”

In addition to Schlachet, working on the deal for Riverside were Jack Nestor, Principal; Jeff Tobin, Operating Partner; Marques Martin, Associate; and Mary Anne McLaren, Finance Director.

ActivStyle’s existing lending partner, US Bank, provided financing for the transaction. Jones Day provided legal counsel on the transaction, and RSM McGladrey provided accounting due diligence.

The transaction is Riverside’s 54th healthcare acquisition, bolstering the firm’s deep specialization in the sector. Overall, it is Riverside’s 253rd acquisition and the sixth of 2011.

The Riverside Company
The Riverside Company is a global private equity firm focused on acquiring growing enterprises valued at up to $200 million (€200 million in Europe). The firm partners with strong management teams and enhances its investments through acquisitions and organic growth. Since its founding in 1988, Riverside has invested in more than 250 transactions with a total enterprise value of more than $5.4 billion/€4.4 billion. The firm’s portfolio in North America, Europe and the Asia Pacific region includes more than 70 companies with roughly 14,000 employees. Riverside completes acquisitions smoothly thanks to $3.4 billion/€2.7 billion in assets under management, more than 195 professionals in 19 offices, and longstanding relationships with partner lenders.

Media Contacts

North America and Asia Pacific
Graham Hearns
Director of Marketing and Communications
The Riverside Company
216-535-2221

Europe

Pablo FuenteAssistant Director of Marketing and Communications
The Riverside Company
+32 47485911

Media Contact

Stephanie Fraser
Marketing Consultant
The Riverside Company
Cleveland: +1 216 344 1267
London: +44 20 3077 1923