We represented Tivity Health, Inc. (NASDAQ: TVTY), a fitness and social engagement solutions provider, in the divestiture of its nutrition business, Nutrisystem® and South Beach Diet®, to Kainos Capital, a leading food and consumer-focused private equity firm, for $575 million in cash.
The team was led by Bass, Berry & Sims corporate attorney Page Davidson and included corporate attorneys Scott Bell, Tatjana Paterno, Tyler Huseman, Chris Johnson and Sarah Guthrie; Bryan Metcalf advised on tax matters; and Shelley Thomas and Alex Davenport advised on intellectual property matters. The firm previously advised Tivity Health, Inc. in its acquisition of Nutrisystem.
“We are grateful for the long standing relationship our firm has with Tivity Health,” said lead deal team attorney Page Davidson. “We were proud to have represented them through the lifecycle of their investment in Nutrisystem and look forward to advising them through their continued growth and success in the healthcare business.” To read the full press release of the offering and transactions by Tivity Health, Inc. click here.
The transaction was highlighted in several media outlets, including:
- “Tivity Health to Sell Nutrition Business to Kainos Capital for $575 Million,” WSJ (October 19, 2020)
- “Winston, Bass Berry Steer Kainos’ $575M Nutrisystem Buy,” Law360 (October 19, 2020)
- “Kainos Capitol to Acquire Nutrisystem,” PE Hub (October 19, 2020)
- “Tivity Health Announces Sale of Nutrition Business,” PR Newswire (October 19, 2020)
Tivity Health®, Inc. is a leading provider of health improvement, nutrition, fitness, and social engagement solutions at scale to improve clinical outcomes, reduce healthcare costs and create opportunities to feel better, work better and live better.
The Bass, Berry & Sims corporate and securities practice encompasses mergers and acquisitions, capital markets transactions, corporate governance and shareholder activism. We serve as primary corporate and securities counsel to more than 35 public companies and have counseled on 150 deals ranging in size from $20 million to more than $15 billion over the past two years. The team and our attorneys have been consistently recognized in leading industry outlets, including Chambers USA – ranked as a top corporate firm in Tennessee since 2003 – and M&A Advisor Award recipient for – “M&A Deal of the Year ($10MM-$25MM)” and “Healthcare and Life Sciences Deal of the Year (Over $100MM-$1B)” in 2018; and “M&A Deal of the Year (From $1B-$5B)” and “Corporate/Strategic Deal of the Year (Over $1B)” in 2017.