Ropes & Gray Advised PK Consumer Health on its Acquisition of HealthAid, a Leading UK VMS Player

Ropes & Gray has advised PK Consumer Health ("PK"), a portfolio company of Avista Healthcare Partners and Damier Group, on its agreement to acquire HealthAid Limited and HealthAid America Inc. (together, "HealthAid"), a leading supplier of high-quality VMS products to the independent pharmacy channel.

Headquartered in Harrow, UK, HealthAid is widely recognised as a high-quality VMS brand trusted by thousands of independent pharmacies globally. In addition to its direct operations in the UK and US, HealthAid is active in over 50 countries spanning Europe and international markets, through a network of trusted distributors with relationships often existing for over 30 years.

This transaction represents PK's second add-on acquisition since Avista and Damier's investment in the platform in November 2025 and marks an important milestone in its strategy to become a leading "retail-first" VMS platform, bringing together strong local champions across Europe. Ropes & Gray also advised on PK’s first add-on acquisition of leading Nordic consumer healthcare player Puhdistamo in January of this year.

PK continues to strengthen its management structure, unlock synergies and invest in its brands, setting the company up for continued growth. Next to organic growth initiatives, PK continues to actively pursue M&A opportunities throughout Europe.

The Ropes & Gray team was led by private equity partner Elizabeth Todd, finance partner Alex Robb and tax partner Chris Agnoli with support from private equity associates Michael Asprou, Victoria Srivastava and Callum Flanagan, finance counsel Jacob Bennett and finance associate Chad Parkinson, tax counsel Benjamin Wonnacott, and private equity trainees Aidan Guo and Ismail Wahba.