Author: Julie Kaloides

Company Focused on Core Healthcare Business, Strategic Growth Opportunities.
Nashville, TN/PRNewswire—Tivity Health (Nasdaq: TVTY) announced today that it has completed the divestiture of its Nutrition Business, which includes Nutrisystem^® and South Beach Diet^®, to Kainos Capital, a leading food and consumer-focused private equity firm, for a total gross purchase price of $575 million in cash. The Company used a significant majority of the divestiture net proceeds to pay down debt, which has materially de-levered its balance sheet and will provide significant additional financial flexibility to support the growth of its go-forward, focused healthcare business. The transaction is expected to result in a fourth quarter 2020 post-close net leverage ratio of no more than 2.8x.
“This transaction will enable Tivity Health to drive sustainable growth within our healthcare business, accelerating our SilverSneakers^®, Prime^® Fitness, WholeHealth Living^® and Wisely Well™ brands with new digital engagement tools and data to become a more member-centric organization,” said Anthony Sanfilippo, Chairman of the Board of Directors, Tivity Health. “In addition to divesting the Nutrition division, we’ve realigned our organizational structure and resources to best deliver on our growth opportunities, and we expect to continue to achieve strong operational performance as a result of our disciplined approach. I am extremely proud of the progress we’ve made repositioning the business, accelerating the positive change since Richard Ashworth became CEO in June. Building on our solid foundation and with Richard’s capable and focused leadership, I am confident Tivity Health is on track to become the modern destination for healthy living.”
“The strategic changes underway at Tivity Health have unlocked a wide range of exciting opportunities to promote growth in our healthcare business and bring new and expanded capabilities to our members, customers and partners,” said Richard Ashworth, CEO, Tivity Health. “We have a strong, talented team in place, and have begun a search for a Chief Customer Experience and Innovation Officer, as well as a Chief Information Officer, to support our go-forward strategy. Tommy Lewis will remain as Chief Operating Officer, with a focus on supporting our health plans and fitness location partners in our core healthcare commercial operations. As President of the Nutrition Division, Tommy orchestrated an impressive turnaround, significantly improving the Division’s performance in just over ten months. We are grateful for his contributions and pleased that our healthcare business will continue to benefit from his expert guidance. I look forward to sharing more about our go-forward strategy on our fourth quarter and full year earnings call in February.”

St. Paul, MN–Kindeva Drug Delivery (Kindeva) and Breath of Life International (BOL Pharma or BOL) have signed an agreement to study the feasibility of multiple inhaled cannabinoid products. Under the agreement, Kindeva will develop novel formulations of BOL Pharma’s cannabinoidbased drug products delivered by Kindeva’s metered-dose inhaler (MDI) technology. Subject to all required regulatory approvals, the products under development could go on to treat a range of central nervous system diseases, including autism spectrum disorder, epilepsy, and general severe pain and anxiety experienced as part of conditions such as palliative care and diabetic neuropathy. If successful, this early-stage activity could lead to the long-term commercial supply of regulated inhaled cannabinoid products, leveraging Kindeva’s commercial manufacturing capabilities and BOL’s accumulated know-how and innovation in the field of medical cannabis.
Kindeva, a leading global contract development and manufacturing organization (CDMO), has a historical legacy of solving complex drug delivery challenges in the pharmaceutical, biotechnology, and life sciences sectors. The company has over 60 years of development-driven innovation across multiple drug delivery technologies, including inhalation, transdermal, and microneedles. In inhalation, Kindeva’s list of novel achievements includes the invention of the world’s first MDI and the world’s first CFC-free MDI.
“We are thrilled to launch this partnership with BOL Pharma,” said Aaron Mann, CEO of Kindeva Drug Delivery. “This is a partnership between two highly innovative and growing companies. BOL Pharma is an acknowledged leader in medical cannabis, and I’m excited that Kindeva has the opportunity to support their progress in this space. Kindeva’s formulation and development expertise, built on more than 20 successful customer launches, enables us to be a strategic partner to BOL Pharma throughout the development lifecycle. Most importantly, the successful development of these products would ultimately offer patients a new and valuable tool for treating truly debilitating conditions.”
“We are excited to form a partnership with Kindeva Drug Delivery, formerly 3M Drug Delivery Systems, a recognized global leader in the development of complex drugs, to develop a best-in-class inhaler,” said Kfir Avraham, CEO of BOL Pharma. “By entering into this collaboration, BOL Pharma reaffirms its commitment to developing pharmaceutical-based cannabinoid products to address serious medical needs. This partnership, bringing together two leading companies, will provide a patient-centric solution to those at need.”
This announcement highlights the growing opportunity for inhalation to expand into adjacent therapy areas and indications. In recent years, Kindeva has been actively identifying and progressing new development opportunities in inhalation that go beyond asthma and COPD. “The BOL partnership demonstrates how broad and effective inhaled drug delivery can be,” Mann said. “Applications for inhaled therapies go beyond respiratory diseases. In this case, we’re looking at the systemic delivery of drugs via the lungs. Due to heightened bioavailability compared to oral delivery, inhaled cannabinoids have the possibility to significantly reduce the dosage and reduce the variability currently observed with cannabinoid treatment, with the potential to also enhance the overall accuracy, safety and efficacy.”
The products are being developed for multiple markets worldwide, including the United States, the United Kingdom, and the European Union. “With Kindeva as our partner, BOL pharma is committed to testing this best-in-class inhaler in clinical trials to establish the safety and efficacy in several unmet medical conditions in consultation with the FDA and EMA”, said Boaz Hirshberg MD, CMO of BOL Pharma. “This partnership will allow us to develop a platform that will deliver an accurate and consistent dose to patients. Furthermore, the rapid onset of action will provide an advantage, especially when dealing with severe pain.”

New York, NY—Paramit Corporation, a portfolio company of Altaris Capital Partners, LLC (collectively with its affiliates, “Altaris”), has acquired Emphysys, Inc., a leading technology development firm specializing in complex systems and products for the medical device, life sciences, and industrial equipment industries. The business combination will strengthen Paramit’s product design and development capabilities, as well as add a strategic presence for the company in the rapidly growing Greater Boston market.
Based in Silicon Valley with operations in the U.S., Europe, and Malaysia, Paramit develops and manufactures medical devices and life science instruments for its industry leading customers. Emphysys, founded in 2009 and located just north of Boston, Massachusetts, specializes in advanced power systems, radiofrequency and microwave technologies, motion controls and thermo-fluid systems.
“We are excited about expanding our offering to customers,” said Billoo Rataul, CEO of Paramit. “The work being done at Emphysys routinely pushes the boundaries of science and technology, and is a perfect complement to our existing areas of focus. Our customers value partners who enable their innovations and accelerate the timeline to market. With the addition of Emphysys, Paramit will provide an enhanced solution set to our global customer base.”
Ali Shajii, CEO of Emphysys, commented: “As part of the Paramit team, Emphysys will now offer complete end-to-end “transferless” development services, spanning new technology invention through product development and into full scale, commercial manufacturing. In addition to augmenting Paramit’s existing product development capabilities with deep expertise in technology development, Emphysys will provide a strong Boston-area presence to better serve and help drive growth with Paramit’s customers in the medical device and life sciences markets. We are happy to be joining a global team with a commitment to excellence and look forward to continuing our success and growth together.”
Schiff Hardin LLP acted as legal counsel for Paramit.

Nashville, TN/PRNewswire—Tivity Health^® Inc. (Nasdaq: TVTY), a leading provider of health improvement solutions, is now offering free, unlimited access to the entire SilverSneakers^® On-Demand™ library through December 31, courtesy of eHealth, Inc., a leading online Medicare insurance marketplace. SilverSneakers provides eligible Medicare Advantage, Medicare Supplement and group retiree plan members access to a network of more than 17,000 fitness locations nationwide, virtual workouts, social events and a variety of class types, all at no additional cost to our members.
SilverSneakers On-Demand is a video library of over 200 workouts, wellness videos, and fitness programs designed by top instructors. From now until December 31, anyone can access hundreds of workout and nutrition programs at home for free by checking eligibility and creating an account at silversneakers.com. Flexibility/mobility, balance, cardio, strength, and more: regardless of abilities or interests, there’s something for everyone of every fitness level and specially designed programs to keep participants on track.
“While some seniors are returning to the gym, others are choosing to stay fit at home during COVID-19,” said Richard Ashworth, president and CEO, Tivity Health. “Virtual exercise options are providing SilverSneakers members critical access to fitness and social connection, both vital for maintaining optimal health. Our partnership with eHealth allows us to help seniors explore a new world of fitness options in the comfort of their own home with our trusted SilverSneakers fitness instructors. There has never been a more crucial time for seniors to stay socially connected, physically active and virtually engaged.”
The Medicare Advantage Annual Election Period (AEP) began on October 15 and continues through December 7, 2020. During this time, individuals eligible for Medicare can choose a Medicare Advantage plan for the upcoming year that includes SilverSneakers. We’ve partnered with eHealth, whose licensed Medicare agents are prepared to give seniors the support they need to find the plan that matches individual needs and budgets.
“At a time when so many seniors are exploring new ways to maintain their health through the COVID-19 crisis, eHealth’s partnership with SilverSneakers to make the On-Demand fitness platform available to all seniors nationwide reflects the spirit of both our businesses,” said Gregg Ratkovic, Senior Vice President for Carrier & Business Development, eHealth. “We are thrilled to announce this partnership, bringing new innovative solutions to better serve Medicare beneficiaries.”
SilverSneakers is available in all 50 states and is offered through more than 70 health plans nationwide including the nation’s leading Medicare Advantage health plans, Medicare Supplement, and group retiree plans. Members can determine their eligibility, find their closest participating location or learn more about the program by visiting SilverSneakers.com. For seniors who need help picking a plan, our friends at eHealth can simplify the process. Call 844-798-0050 to speak to a licensed eHealth agent now.

Morgan Hill, CA—Paramit Corporation announced today that as part of its planned strategic expansion into Europe, it has agreed to acquire Austrian-based S.I.E. SOLUTIONS. Paramit, headquartered in Silicon Valley with operations in California and Malaysia, designs and manufactures electronics based medical devices and life science instruments, while S.I.E SOLUTIONS, headquartered in Lustenau, Austria, is a leading designer, manufacturer, and provider of embedded technology solutions to customers across the healthcare and security technology industries.
Founded in 1994 with a strong presence in Austria and Germany, S.I.E SOLUTIONS will complement Paramit’s existing design and manufacturing capabilities and serve as its headquarters in Europe. In addition, with Paramit’s support and investment to increase its manufacturing and development capabilities locally in Europe, S.I.E SOLUTIONS will be able to deliver Paramit’s combined know-how and expertise, including Paramit’s vPoke^® computer directed assembly and zero defect manufacturing processes, to its European customers.
“We are happy and proud to be teaming up with S.I.E SOLUTIONS,” said Billoo Rataul, CEO of Paramit. “The company’s experience and highly specialized focus complement Paramit’s own product development and manufacturing capabilities. Together, we will deliver an enhanced and comprehensive product realization offering to our customers around the world. In addition, with our highly-skilled teams and combined expertise, we can support a wider range of medical devices and life science instruments for our customers, including those delivering innovative solutions across various diagnostic, therapeutic, surgical, and drug discovery applications.”
Markus Dillinger and Josef Krojer, Managing Directors of S.I.E. SOLUTIONS, commented: “As part of the Paramit family, our customers will benefit in particular from an increase in production depth and an expansion of service capabilities. In addition, with our expertise in embedded solutions and our excellent market position in Europe, we can provide a strong and valuable local presence for Paramit in Europe. The combined and highly congruent experience of the two companies, especially in the IVD, life sciences & medical device sectors, will enable us to take advantage of the strong growth opportunities in these markets and better serve our customers.”
Under the terms of the agreement, Paramit will acquire System Industrie Electronic GmbH and its German subsidiary System Industrie Electronic Deutschland GmbH. The transaction is subject to the receipt of customary regulatory approvals and is expected to close in the fourth quarter of 2020.
Schiff Hardin LLP and Binder Grösswang acted as legal counsel for Paramit. Lincoln International acted as exclusive investment banking advisor to S.I.E SOLUTIONS.

CSafe Global has contracted with AAACESA in Mexico City to provide containers locally.
Dayton, OH—CSafe Global, the innovation leader in temperature-controlled container solutions for the transport of life-enhancing pharmaceuticals, continues expanding their global reach and local presence opening of a new hub operation in Mexico City.
As the second largest pharmaceutical market in Latin America after Brazil, adding this new hub operation facility in Mexico to CSafe’s worldwide network ensures consistent, easy access to the cold chain industry’s top performing containers in this booming market. “We are thrilled to add our second facility in Latin America in 2020,” remarked Tom Weir, chief operating officer for CSafe Global. “The market growth has been tremendous across the region and we expect to see more development as the pharma supply chain begins to diversify their operations to better manage demand in a pandemic or any other situation that comes in the future.”
CSafe has partnered with AAACESA in Mexico City to make air cargo units available at their Mexico City International Airport facility. CSafe will have access to 7,000 square-feet of space to store CSafe RKN and RAP containers.
CSafe continues expanding its presence in Latin America by investing in best-in-class facilities to provide the best service possible to customers in their local area.

Saint Paul, MN—Minnetronix Medical, which partners with companies throughout the world to design, develop and manufacture medical device technology, today announced that it has been awarded a National Institutes of Health (NIH) granti for continued study of its proprietary Neurapheresis™ Cerebrospinal Fluid Treatment Platform.ii Akin to hemodialysis, the Neurapheresis platform is designed to rapidly remove blood cells and their cytotoxic byproducts that are released into cerebrospinal fluid following an aneurysmal subarachnoid hemorrhage (SAH).
The presence of blood in the spinal fluid increases the risk of complications such as cerebral vasospasm, edema, hydrocephalus, or stroke. The Neurapheresis System enables expedited removal of blood and blood byproducts from the cerebrospinal fluid. This has been shown to shorten hospital stays, reduce use of hospital resources and improve outcomes for patients, thereby reducing the healthcare economic burden.
The NIH-funded study will take place at the University of Florida Gainesville, M Health Fairview University of Minnesota Medical Center, The University of Texas Health Science Center at Houston, and New York’s Mount Sinai Hospital. This is the second in a series of clinical studies of Neurapheresis, the first having yielded positive results.
“Rapid removal of the toxins that are released into the cerebrospinal fluid when an aneurysm ruptures could be game changing and improve outcomes for patients who suffer a subarachnoid hemorrhage,” said Christopher Kellner, MD, director of the Intracerebral Hemorrhage Program at Mount Sinai and site investigator of the clinical trial at Mount Sinai. “Winning support from the NIH is another important step to completing the research necessary to evaluate the impact of this treatment strategy.”
“What fantastic validation from the medical community and the NIH that we are able to identify unmet needs and develop meaningful solutions,” said Aaron McCabe, PhD, director of research and development at Minnetronix, who is leading the Neurapheresis project. “The Minnetronix team relied on 25 years of experience to develop the platform — from concept to commercialization. Whole product solutions like this represent an expansion of our traditional offerings and create new ways for us to partner with our customers.”
The grant is the second milestone Minnetronix has announced in a month. Recently, it received FDA clearance for the MindsEye™ Port, an expandable deep brain access system used in neurosurgical procedures, that represents the launch of the company’s first technology platform. Neurapheresis is part of the company’s second platform launch.

Nashville, TN/PRNewswire—Tivity Health, Inc. (NASDAQ: TVTY), a leading provider of fitness, social engagement, and nutrition solutions, today announced that it has entered into a definitive agreement with Kainos Capital, a leading food and consumer-focused private equity firm, under which Kainos Capital will acquire Tivity Health’s Nutrition Business, which includes Nutrisystem^® and South Beach Diet^®, for a purchase price of $575 million in cash.
“Following a comprehensive review of the Company’s strategy and core capabilities, our Board of Directors and management team concluded that divesting the Nutrition Business through this transaction will best enable Tivity Health to focus its management team, resources and investment on its core healthcare business, to drive long-term, sustainable growth and increase shareholder value,” said Anthony Sanfilippo, Chairman of the Board of Directors of Tivity Health.
Richard Ashworth, President and Chief Executive Officer of Tivity Health commented, “With our continued strong results and an improved balance sheet, we intend to be laser-focused on our Healthcare Business to drive robust growth, sustainable margins, and cash flow in a more streamlined and nimble business. Our Healthcare Business naturally benefits from Medicare Advantage tailwinds with the number of overall Medicare Advantage beneficiaries expected to grow by about 10% in 2021. During the pandemic, our leading brand, SilverSneakers^®, proved to be trusted and versatile. Our new Wisely Well™ nutrition offering also provides needed nutrition to homebound seniors and we look forward to continuing to offer Wisely Well. SilverSneakers continues to be a national leader in senior fitness and provides a strong foundation to build innovative, high-quality digital offerings at scale. When we combine our assets with new digital capabilities and our long-standing customer relationships, we believe we are uniquely positioned to become the modern destination for healthy living for seniors and older adults.”
Tivity Health will use the divestiture proceeds to pay down debt, which will materially de-lever its balance sheet and provide significant additional financial flexibility to support the growth of its go-forward, focused Healthcare Business.
The transaction is expected to close in the fourth quarter of this year, subject to the receipt of regulatory approval and other customary closing conditions.

Wayzata, MN/(GLOBE NEWSWIRE)—Trean Insurance Group, Inc. (Nasdaq: TIG) (“Trean” or the “Company”), a leading provider of products and services to the specialty insurance market, today announced that its wholly-owned subsidiary Benchmark Holding Company has completed the acquisition of 7710 Insurance Company, as well as its associated program manager and agency.
“We are pleased to officially welcome 7710 into the Trean family,” said Andy O’Brien, TIG’s President and Chief Executive Officer. “7710 is a perfect example of executing on our growth strategy by opportunistically adding a leader in the underserved workers’ comp market for the emergency services industry. 7710’s specialized business model and expertise within the emergency services space further expands our reach in providing exceptional services and products to underserved insurance markets.”
“Today, 7710 Insurance Company is excited to join the Trean Insurance Group, where we will continue to be the national workers’ compensation insurer of choice for first responders. Our focus will remain the same — to build on our value proposition of prevention and cost containment and be the long-term workers’ compensation solution for the emergency services industry,” said Bill Adamson, CEO of 7710 Insurance Company.
7710 Insurance Company joins TIG’s other affiliated insurance companies American Liberty Insurance Company and Benchmark Insurance Company — both A.M. Best ‘A VIII’-rated carriers offering specialty property and casualty products in 49 states and D.C.

CSafe Global has published the results of their second pilot shipment which focused on data accuracy between the real-time data delivered and the data recorded and stored in the containers.
CSafe Global, the innovation leader in temperature-controlled container solutions for the transport of life-enhancing pharmaceuticals, continues rigorous testing of the company’s forthcoming end-to-end shipment visibility capability and has today, published the results of a second key pilot shipment focused on data accuracy.
CSafe is the first cold chain packaging provider to successfully implement end-to-end shipment visibility capability and is nearly through their development timeline. The goal for this most recent pilot shipment completed in August was to determine if container readings, payload readings and pre-established alerts transmitted in real-time during the shipment and matched the validated data the container logged.
“It’s not enough to collect and transmit data,” explained Tom Weir, CSafe’s Chief Operating Officer. “We must be certain the information being supplied to our customers and partners reflects the actual real-time conditions of the container and the payload. Offering complete confidence in the real-time data, provides the assurance our customers need that their products are secure or that intervention is required to preserve a payload. This is what the pharmaceutical industry has been requesting and I am pleased to report that this and subsequent tests have been extremely successful. The hardware and software systems are performing as expected and we are moving into the next phase of testing.”
With more than 20 total pilot test shipments complete, CSafe containers, the integrated tracking devices and the shipment visibility platform have all performed flawlessly. The published results for this test, available in a white paper on the CSafe Global website, provide detailed information on the accuracy of the data collected with the tracking device in the new visibility platform against shipment information collected directly by the containers’ measurement systems. Historically, this information was only available post-shipment.
CSafe published another white paper in July that focused on validating the integration of the tracking device installed in the RKN and RAP containers and the measured parameters tracked.
“The entire project team along with our partners on this project could not be more pleased with these results,” said Weir. “Not only does it confirm that we have chosen the right hardware and software, but also that the planning, effort and investment we’ve made has been well worth it. We are now preparing for the next testing phase and expect similar results.”