Ropes & Gray represented Audax Private Equity in its acquisition of Medi-Weightloss, Inc., an operator of science-based, physician-supervised weight-loss and wellness clinics, with approximately 100 franchised and company-owned locations nationally. Financial terms of the transaction were not disclosed. The announcement was made November 28 in a press release.
Audax Group is an alternative investment manager with offices in Boston, New York, San Francisco and London. Audax’ investment in Medi-Weightloss seeks to fuel revenue growth, optimize operations, and significantly increase equity value. The acquisition of Medi-Weightloss is a prototypical deal for Audax’ Origins strategy, which builds on its’ historic focus in the lower middle market.
The Ropes & Gray team was led by private equity partner Adam Leamon, and included private equity partner Gregory Bauer, benefits partner Jenny Rikoski, life sciences partner Kellie Combs, health care partner Michael Lampert, tax partner Pamela Glazier, labor & employment partner Megan Bisk, and litigation & enforcement partner Thomas Brown.