Avista Capital Partners, a private equity firm investing in healthcare, has acquired WellSpring Consumer Healthcare, a developer and marketer of over-the-counter and personal care brands, from Audax Private Equity.

WellSpring develops and markets a portfolio of established OTC brands across North America in segments including first aid, therapeutic skincare, and digestive health. The firm offers an omnichannel distribution network with brick-and-mortar and e-commerce retailers, product innovation infrastructure, and a vision for growth.

“We are thrilled to be working closely with Avista, whose deep experience partnering with healthcare companies, particularly in the consumer healthcare sector, will propel us forward as we execute on new product innovation, distribution expansion, and strategic acquisitions,” said Chris Brown, CEO of WellSpring. “Improving the health and wellness of our consumers is core to our mission. In collaboration with Avista and the retail community, we are excited to continue growing our differentiated and trusted brands in these important needs-based categories.”