Breaking News

Two Key AI Acquisitions Take Place

January 23, 2007

In the first of two recent acquisitions in the adult incontinence market, Whitestone Corporation, Bloomington, IN, has purchased East Brunswick-based AI product manufacturer Humanicare International. Terms of the transaction were not disclosed.

The combined company will provide adult incontinence products and services and will distribute several incontinence care brands, including Dignity, Compose, Ultrashield and Disposeze.

Jamie Better, currently president and CEO of Whitestone, will retain his titles in the combined entity. Tony Gegelys, Humanicare's founder and CEO and a former Whitestone sales executive, will become a director of Whitestone.

In a second recent acquisition in this sector, a newly formed affiliate of KPS Capital Partners, Attends Healthcare, has acquired PaperPak Products from Attends Healthcare Investments. Financial terms of the transaction were not disclosed.

PaperPak is a manufacturer and distributor of a line of adult incontinence products for the North American market that are sold primarily under the Attends brand name. PaperPak primarily serves the non-retail sectors with a focus on the acute care, long-term care and home healthcare sectors. Headquartered in Greenville, NC, PaperPak operates two manufacturing facilities located in North Carolina and California. Michael Fagan will continue to serve as CEO under KPS' ownership.

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