Birchwell to acquire and scale trusted OTC and skincare brands
Represents Avista’s eighth consumer healthcare platform globally
NEW YORK, May 4, 2026 /PRNewswire/ — Avista Healthcare Partners (“Avista”), a leading private equity firm focused exclusively on healthcare, today announced the launch of Birchwell Consumer Health (“Birchwell”), a new U.S. consumer healthcare platform formed to acquire differentiated, problem-solving OTC and skincare brands with strong growth potential. Avista is also announcing the platform’s first acquisition – Bag Balm, a Vermont‑based therapeutic skincare brand founded in 1899 – from a seller group led by Gemini Investors.
Birchwell represents Avista’s eighth consumer healthcare platform globally and its fourth in North America, underscoring the firm’s long‑standing sector leadership. The platform is designed to capitalize on attractive secular tailwinds in consumer healthcare, including growing demand for accessible, low‑cost self‑care solutions and the expanding role of trusted OTC products in supporting consumer health.
Bag Balm is an iconic American skincare brand, rooted in trusted ingredients and everyday simplicity. With a heritage spanning over 125 years, the brand serves a loyal consumer base and is distributed nationally across leading brick‑and‑mortar and e‑commerce retailers. Known for the versatility of its iconic Original Bag Balm tin, the brand has expanded thoughtfully into adjacent formats and use cases.
Alex Yu, Partner at Avista, said: “The launch of Birchwell reflects our continued conviction in consumer healthcare as a compelling investment sector with attractive M&A opportunities and secular tailwinds, driven by growing consumer demand for accessible, low-cost self-care solutions. Birchwell, and its first investment in Bag Balm, reflects Avista’s strategy of acquiring trusted, differentiated brands and unlocking their growth potential.”
Fred Duchin, Strategic Executive at Avista and Chairman of Birchwell, said: “Bag Balm is the type of brand we seek to build around – defined by proven efficacy, deep consumer loyalty, and market leadership within an attractive therapeutic category. The acquisition provides a strong foundation for scaling Birchwell’s broader consumer healthcare platform.”
Libby Parent, President of Bag Balm, said: “For more than 125 years, generations of people have trusted Bag Balm to work wonders on their families’ skin. After over a decade of sustained growth with Gemini Investors, our new partnership with Avista allows us to further build on our heritage, invest in the future of the brand, and continue delivering the therapeutic skincare consumers rely on every day.”
Avista has a long history of investing in and building consumer healthcare platforms, including WellSpring Consumer Healthcare, a leading U.S. platform of established OTC brands; PK Consumer Health, a European consumer healthcare platform with a portfolio of market‑leading VMS brands; Cooper Consumer Health, a market‑leading consumer healthcare platform in Europe; Vision Healthcare, a market‑leading digitally enabled VMS platform in Europe; and Trillium Health Care Products, a leading North American OTC CDMO serving blue‑chip pharmaceutical, OTC, and CPG companies. Prior consumer healthcare investments include Arcadia Consumer Healthcare and Trimb Healthcare. Across these investments, Avista has partnered with management teams to drive organic growth, strengthen operating infrastructure, and pursue disciplined M&A.
About Avista Healthcare Partners
Avista Healthcare Partners, founded in 2005 by Thompson Dean and David Burgstahler, is a leading New York-based private equity firm with over $10 billion invested in more than 50 growth-oriented healthcare businesses globally. Avista partners with businesses that feature strong management teams, stable cash flows and robust growth prospects – targeting healthcare product and technology businesses with clear scale potential across four sub-sectors experiencing strong tailwinds. The team is supported by a group of seasoned Strategic Executives enhancing the entire investment process through strategic insight, long-term value and sustainable businesses. For more information, visit www.avistahealthcare.com or follow Avista on LinkedIn. ‘
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SOURCE Avista Healthcare Partners
