United Western Group Acquires Veridian Healthcare with HealthEdge Investment Partners and Advantage Capital Holdings

WASHINGTON, D.C. – July, 31, 2023- United Western Group (“United Western”) is pleased to announce that it has partnered with HealthEdge Investment Partners, LLC (“HealthEdge”) and Advantage Capital Holdings, LLC (“A-CAP”) to acquire Veridian Healthcare, LLC (“Veridian” or the “Company”).

Headquartered in Gurnee, Illinois, Veridian is a leading distributor of home health and diagnostic products into consumer retail and wholesale channels across the United States. Through its innovative and comprehensive portfolio of high-demand consumer health products, the Company has built a strong reputation for its exceptional service levels, quality, and reliability amongst retail, wholesale, and e-commerce customers. The Company works with numerous reputable manufacturers of consumer health product categories globally to offer competitive prices and product reliability, effectively responding to new product requests for new and existing customers. Through its exceptional private labeling abilities, the Company allows customers to have a one-stop relationship for product management and delivery under the customer brand name.

United Western and HealthEdge’s investment was made in partnership with Veridian’s President, Steve Bisulca, who founded the company in 2009 and will continue to lead and retain ownership in the Company going forward. Concurrent with the acquisition, United Western operating partners Robert Friedberg and John Aldridge will also undertake key leadership roles in Veridian’s management team. Mr. Friedberg will serve as Chief Executive Officer with vast experience leading healthcare delivery platforms, including hospitals, health systems, physician practices, and ancillary services ranging from $50M to $1.3B in revenue. Mr. Aldridge will serve as Chief Digital Health Officer, expanding Veridian’s capabilities in the digital health sector through deep experience in remote patient monitoring and healthcare IT. Mr. Bisulca will continue serving as president of the Company.

Jacob Atkinson, Managing Partner of United Western, commented, “We are privileged to partner with the Veridian management team, HealthEdge, and A-CAP to expand Veridian’s capabilities into digital healthcare through the development of remote patient monitoring, kitting, and telehealth programs. The Company is highly regarded for its expansive SKU portfolio, strong supply chain, and logistical support. They have proven themselves to be an industry leader with a strong management team and an exceptional employee-centric culture.”

Scott Heberlein, Partner with HealthEdge added, “We are excited to add Veridian and its talented team as the second platform investment in our fourth fund. The Company, its market position, historical growth, and future potential represent many of the attributes we seek within our investments. The addition of United Western’s experienced operators, Robert and John, will help drive Veridian into new, exciting markets, and provide key healthcare constituents with cost-effective solutions for in-home management of patient care, ultimately driving superior outcomes.”

Holland & Knight, LLP served as lead legal counsel to United Western. Shumaker, Loop & Kendrick, LLP served as legal counsel to HealthEdge. EisnerAmper LLP provided accounting and tax advisory on the transaction. William Blair and Company, LLC served as exclusive financial advisor to Veridian Healthcare, LLC. Dentons US, LLP served as legal advisor to Veridian Healthcare, LLC.

ABOUT VERIDIAN HEALTHCARE

Veridian Healthcare is a nationally recognized distributor of in-home diagnostics and pain relief products. Since its establishment in 2009, Veridian has consistently provided innovative products to the growing healthcare market, focusing on brand development and strategic partnerships while expanding its blue-chip wholesale and retail customer portfolio. Veridian offers over 50 years of combined management and sales experience, providing competitively priced and high-quality products designed to meet the standards of today’s healthcare professionals.For more information on Veridian, visit www.VeridianHealthcare.com.

ABOUT UNITED WESTERN GROUP

United Western Group is a private equity firm based in Washington, D.C. that partners with managers and entrepreneurs to invest in strategically viable, market-leading companies across a wide range of industries. United Western employs a collaborative value creation model through aggressive organic and inorganic growth strategies. United Western seeks investment targets in North American companies with $10 to $200 million in revenue.For more information on United Western Group, visit www.UnitedWestern.com.

ABOUT HEALTHEDGE

HealthEdge Investment Partners, LLC is an operating-oriented private equity firm founded in 2005 that focuses exclusively on the healthcare industry. HealthEdge seeks to achieve superior returns by investing in businesses that benefit from the knowledge, experience, and network of the relationships of its partners. HealthEdge’s partners have more than 100 years of combined operating experience in healthcare as CEOs and investors.For more information on HealthEdge, visit www.HealthEdgePartners.com.

ABOUT A-CAP

Advantage Capital Holdings, LLC is a premier risk solution and service provider to policyholders, insurers, and capital partners. A-CAP owns multiple businesses within the insurance company vertical, including primary carriers, reinsurance vehicles, an investment adviser, and a marketing organization. Additionally, A-CAP offers both debt and equity investment opportunities in businesses meeting desired return profiles and mitigating downside risks. With a diverse and successful management team, A-CAP excels across the insurance, reinsurance, and investment sectors.For more information on A-CAP, visit www.ACAP.com.

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