The Wellness Network, a portfolio company of Wafra Partners, has acquired Bundoo, a physician-driven pregnancy and parenting website.
Bundoo educates and engages expecting and new parents by creating a dialogue between parents and doctors through a reference library of articles, a private ask-the-doctor telehealth service, and an expert-moderated social forum (www.bundoo.com).
The Wellness Network (TWN) was acquired by Wafra in January 2016 from investors Joe Covey and Matthew Davidge and their company Interactivation. They purchased the company in 2010 from NBC. Today, TWN is the one of the largest in-hospital TV networks in the US. Channels include the Patient Channel, the Newborn Channel, Your NICU Baby, the HeartCare Channel, and MedSerenity and are available on more than 300,000 screens in over 2,300 healthcare facilities. The company has extensive libraries of videos and printable content that are accessible on televisions, tablets and via the internet. TWN is based west of Milwaukee in Pewaukee, WI (www.thewellnessnetwork.net).
“Pairing Bundoo with our Newborn Channel and Your NICU Baby makes The Wellness Network a stronger business partner by helping hospitals and their affiliated OB/GYNs engage and educate parents in their communities and their facilities pre-admission, in hospital, and post discharge,” said Dave Ross, CEO of The Wellness Network.
Wafra and its TWN co-investors – healthcare media executives Patrick Clifford and James “Hal” Higby – are using the TWN platform to execute a build-up in the patient education and engagement industry.
Wafra invests up to $30 million of equity per transaction in middle market companies based in North America that have enterprise values between $20 million and $150 million. Typical investments have revenue of $20 million or more and EBITDA of $4 million or more. Sectors of interest include consumer products, outsourced business services, niche manufacturing, and consumer-driven services. The firm is based in New York (www.wafrapartners.com).
© 2016 Private Equity Professional | December 2, 2016
