Healthcare-focused middle market private equity firm

Avista Healthcare Partners

Formerly Avista Capital Partners

At a glance

Latest fundAvista Healthcare Partners VI, $1.5B (Mar 2024) S6
Deal typesPlatform, Add-on S2
GeographyNorth America, Europe S6
SectorsConsumer & Food, Healthcare Services, Industrial & Manufacturing, Software & SaaS

What Avista Healthcare Partners buys

Avista Healthcare Partners is a New York private equity firm that invests only in healthcare. It started in 2005 as a spin-out from DLJ Merchant Banking and changed its name from Avista Capital Partners in August 2024 to match that focus. Avista says it has put more than $10 billion into about 50 platform companies and backed over 100 add-ons. It buys mid-sized product and technology businesses: over-the-counter and vitamin brands, medical device makers and contract manufacturers, services for drug and device companies, specialty pharma, diagnostics and healthcare software.

Its current fund, Avista Healthcare Partners VI, closed at $1.5 billion in March 2024 and invests in North America and Europe. Avista usually takes control, often through carve-outs from large companies such as EBI from Highridge Medical in 2025, but it also buys from founders, as with the family-owned PK Benelux. It publishes no size range. A smaller company would most likely meet Avista as an add-on to a platform such as WellSpring, PK Consumer Health, GCM or EBI.

Recent deals

Announced in the 24 months before October 20, 2026.

DateCompanyTypeSectorSource
Jul 2026sanotact GroupGerman vitamin and supplement maker with a contract manufacturing arm; Avista's ninth consumer health platformPlatformConsumer & FoodSource
Jun 2026XstimBone growth stimulation business added to EBIAdd-onSource
May 2026Bag Balm (Birchwell Consumer Health)Vermont skincare brand bought from a Gemini Investors-led group to launch a new US OTC platformPlatformConsumer & FoodSource
Apr 2026Bentec MedicalCalifornia maker of silicone medical device parts, bought from Greyrock and Hermitage Equity PartnersPlatformIndustrial & ManufacturingSource
Apr 2026Sympazan and other products from AssertioBranded drugs added to Cosette PharmaceuticalsAdd-onSource
Mar 2026HealthAidUK vitamin and supplement brand added to PK Consumer HealthAdd-onConsumer & FoodSource
Feb 2026Kettmann MachiningPrecision machining shop added to GCMAdd-onIndustrial & ManufacturingSource
Jan 2026TransCure bioServicesHumanized mouse research services added to Taconic BiosciencesAdd-onSource
Jan 2026PuhdistamoNordic consumer health brand added to PK Consumer HealthAdd-onConsumer & FoodSource
Jan 2026DerMend and RecticareOTC skincare brands added to WellSpring Consumer HealthcareAdd-onConsumer & FoodSource
Jan 2026Evidinno Outcomes ResearchReal-world evidence and health economics research firm added to UBCAdd-onHealthcare ServicesSource
Nov 2025Svenskt and New CareSwedish and Dutch supplement brands added to Vision HealthcareAdd-onConsumer & FoodSource
Nov 2025PK BeneluxDutch vitamin and supplement company bought from its second-generation founding familyPlatformConsumer & FoodSource
Sep 2025XiFinNew growth funding for the revenue cycle software company, led by Goldman Sachs with Avista as majority ownerInvestmentSoftware & SaaSSource
Jun 2025Avista Healthcare Partners CV II (GCM)Single-company continuation fund for GCM, anchored by Goldman Sachs AlternativesFund closeIndustrial & ManufacturingSource
Jun 2025EBIBone healing device division carved out of Highridge Medical; Avista's 50th platformPlatformSource
Mar 2025SolmetexDental products company sold to AGIC Capital; Avista kept a minority stakeExitSource
Jan 2025Precision Swiss ProductsMachining assets added to GCMAdd-onIndustrial & ManufacturingSource

Portfolio by sector

From the firm's portfolio page S4.

Consumer & Food

  • Birchwell Consumer Health Current
  • Cooper Consumer Health Current
  • PK Consumer Health (PK Benelux) Current
  • sanotact Group Current
  • Vision Healthcare Current
  • WellSpring Consumer Healthcare Current

Distribution

  • eMolecules Current

Education

  • Spear Education Current

Healthcare Services

  • Probo Medical Current
  • United BioSource Corporation (UBC) Current

Industrial & Manufacturing

  • Bentec Medical Current
  • GCM Current
  • Trillium Health Care Products Current

Software & SaaS

  • XiFin Current

Other

  • ACP Northern Holdings Current
  • Cosette Pharmaceuticals Current
  • EBI Current
  • OmniAb Current (public)
  • Organogenesis Current (public)
  • Solmetex Minority stake kept after 2025 sale
  • Taconic Biosciences Current
  • Terrats Medical Current

Greymont’s take

How Avista Healthcare Partners fits a seller

Avista fits owners of healthcare product businesses: over-the-counter and vitamin brands, contract manufacturers for medical devices or OTC products, device makers, and companies that sell services or software to drug and device makers. Its stated focus areas do not include physician practices or other care providers. Avista leans on a group of Strategic Executives, former industry leaders who sometimes become chairman or CEO, as Fred Duchin did at Birchwell and Kevin Kenny at EBI.

Most of its recent activity is add-ons. In the past year its platforms bought Kettmann Machining, HealthAid, Puhdistamo, Xstim and DerMend, so a founder-owned company in one of those niches would most likely sell to an existing platform. Owners should ask whether Avista plans to bring in its own CEO and how much equity they would be asked to roll. When Avista sold Solmetex in 2025, it kept a minority stake.

Questions owners ask

Is Avista Capital Partners the same firm as Avista Healthcare Partners?

Yes. Avista Capital Partners renamed itself Avista Healthcare Partners on August 7, 2024. The firm said the new name matched the healthcare-only strategy it had followed since moving away from generalist funds about a decade earlier.

What kinds of healthcare companies does Avista buy?

Its approach page names six areas: outsourced pharma and medtech services, consumer healthcare, medical devices and medtech, specialty and generic pharmaceuticals, distribution and diagnostics, and healthcare technology. It looks for strong management, stable cash flow and room to grow.

Does Avista invest outside the United States?

Yes. Fund VI targets North America and Europe. Recent platforms include PK Benelux in the Netherlands and sanotact in Germany, alongside US deals such as Bentec Medical in California and Bag Balm in Vermont.

Does Avista buy companies from founders?

Sometimes. Many of its deals are carve-outs from large companies or purchases from other investors, but in November 2025 it bought PK Benelux from its second-generation founders and described founder partnerships as part of its consumer health model.

Sources

  1. S1Avista Healthcare Partners home page Accessed October 20, 2026
  2. S2Avista Healthcare Partners: About Accessed October 20, 2026
  3. S3Avista Healthcare Partners: Approach Accessed October 20, 2026
  4. S4Avista Healthcare Partners: Portfolio (current and exited) Accessed October 20, 2026
  5. S5Avista Capital Partners rebrands as Avista Healthcare Partners (August 7, 2024) Accessed October 20, 2026
  6. S6Avista Healthcare Partners VI closes on $1.5 billion (March 1, 2024) Accessed October 20, 2026
  7. S7Avista Healthcare Partners news Accessed October 20, 2026
  8. S8Avista acquires PK Benelux (November 19, 2025) Accessed October 20, 2026
  9. S9Avista acquires EBI from Highridge Medical (June 4, 2025) Accessed October 20, 2026
  10. S10Avista completes sale of Solmetex to AGIC Capital (March 19, 2025) Accessed October 20, 2026
  11. S11Avista launches Birchwell Consumer Health with Bag Balm (May 4, 2026) Accessed October 20, 2026

Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Avista Healthcare Partners. Figures are as reported on the dates shown and may have changed. Request a correction

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