2006back to list |
NAUTIC PARTNERS PORTFOLIO COMPANY ACQUIRES Harris HEALTHTRENDS INC.AXIA Health Continues to Build Its Leading Position in Preventive CareProvidence, RI — February 23, 2006 Nautic Partners, LLC, a private equity firm with more than $1.8 billion of capital under management, today announced that its portfolio company, Axia Health Management, LLC (Axia), has acquired Harris HealthTrends, Inc. (Harris), a leading national provider of personalized health management services. Consistent with its industry-focused strategy, Nautic made its initial investment in Axia in November of 2004, in partnership with San Francisco-based Genstar Capital Partners. Axia was formed by L. Ben Lytle and Hugh Lytle as a provider of population health management services focused exclusively on prevention. Harris represents the latest of four strategic acquisitions by Axia since Nautic’s initial investment: HealthCare Dimensions, operator of fitness-oriented programs including the industry-leading SilverSneakers® Fitness Program; American WholeHealth, a provider of integrative medicine and complementary and alternative medicine services; and QuitNet.com, a leading Web-based smoking cessation program. Chris Crosby, a Managing Director of Nautic Partners, said, “We are pleased to continue to help Axia build on its leading position in the prevention industry and believe that Harris HealthTrends represents a natural fit with Axia’s strategy of providing an integrated preventive health solution. Our collaboration with Ben and Hugh Lytle and the entire Axia management team is representative of Nautic’s strategy to partner with strong, capable management teams to drive growth and build value.” Since its founding, Nautic Partners has completed 14 investments in the healthcare sector, and in excess of 95 investments overall. In 2005, in addition to supporting Axia’s acquisition strategy, Nautic made an investment in AIM Holding Company (formerly International Radiology Group), the leading provider of services to manage the utilization, cost, and quality of diagnostic imaging services. About Axia Health Management About Harris HealthTrends |