WillowWood Agrees to Sell Majority Stake to DW Healthcare Partners
Spurred by growth opportunities and changing competitive dynamics in the orthotic and prosthetic (O&P) industry, WillowWood today announced plans to accelerate the company’s growth with the sale of a majority stake to DW Healthcare Partners (DWHP), a private equity investment firm based in Toronto, Ontario, and Park City, Utah. DWHP has managed four funds with over $800M under management, focusing exclusively on healthcare businesses.
WillowWood’s partnership with DWHP will enable the addition of new products to its portfolio through a combination of internal innovation and external acquisitions in an effort to bring together the complete prosthetic solution.
“This is a very exciting partnership that will ensure we serve our O&P clinic customers and their patients even better by optimizing and expanding our suite of products and services,” said Mahesh Mansukhani, WillowWood’s chief executive officer. “WillowWood is truly woven into the fabric of the prosthetic industry. Our values and mission in support of the amputee community remain unchanged and will continue to guide the company and the work we do.”
Ryan Arbogast, board member and WillowWood’s president, will continue to be a significant stakeholder in the company. The Arbogast family has owned and operated WillowWood since its founding 112 years ago.
“WillowWood will always be rooted in its core values: serving the needs of the amputee community through innovative product design and service,” said Arbogast. “This is a prime time for growth in the O&P industry, and we plan to do it the right way – serving our patient care facility customers even better, rather than competing with them.”
Daniel Rubin, WillowWood’s executive vice president, strategy and corporate development, confirmed the company’s commitment to maintaining its headquarters and manufacturing operations in Mount Sterling, Ohio. “We feel strongly that a major factor in our success has been the mutually beneficial relationships developed with local employees, and we look forward to creating new career opportunities for people living in the area.”
In a related move, WillowWorks, a local Columbus, Ohio start-up incubator that split out of WillowWood in 2017, is being purchased by Arbogast as a separate entity and will be unaffected by WillowWood’s majority stake sale.
About WillowWood
WillowWood is an industry leader in the design, manufacturing, and distribution of prosthetic products and services, including the Alpha® family of liners, and the OMEGA® software. Headquartered in Mount Sterling, Ohio, WillowWood also has a location in Salt Lake City, Utah, and a network of over 20 global distribution partners.
About DW Healthcare Partners
DW Healthcare Partners (DWHP) is a Toronto, Ontario- and Park City, Utah-based private equity investment firm specializing in healthcare. Since 2002, DWHP has invested more than $800 million in 32 companies, with a focus on working with their management teams to identify and evaluate opportunities and strategies for mutual growth. To learn more about DWHP, visit www.dwhp.com.
