Alphaeon Corp. has acquired Physician Recommended Nutriceuticals (PRN) in the latest nutritional supplements deal.
PRN, headquartered in Plymouth Meeting, Pennsylvania, develops specialty omega-3 products - including Dry Eye Omega Benefits - that are aimed for use by people who have dry eyes or macular degeneration. The products come in both pill and liquid form. The deal is worth up to $55 million.
Alphaeon is a subsidiary of Strathspey Crown Holdings LLC, a Newport Beach, California, private equity firm that partners with health care specialists. The buyer focus on lifestyle health care related products, and owns Teoxane cosmeceuticals, a line of cosmetic-pharmaceutical products that claim to have age defense and skin-soothing qualities.
The acquisition comes during an active time in the nutritional supplements sector. Recent deals include MidOcean Partners' acquisition of a minority stake in Nutrabolt, the maker of Cellucor protein products, and Helen of Troy Ltd.'s purchase of Healthy Directions LLC, which sells vitamins, minerals and supplements.