Covington Associates advises dLife on its acquisition by Veria Living
BOSTON, MA – [January 21, 2014] — Covington Associates, LLC announced its role as financial advisor to dLife, a technology based diabetes management company. Covington Associates acted as exclusive M&A advisor to dLife in its acquisition by an affiliated entity of Veria Living.
dLife is the leader in diabetes self-care and a community network and resource for 100-million-plus individuals with prediabetes or diabetes, as well as their families. The Westport, Connecticut-headquartered integrated multimedia company consists of:
• dLife.com – the award-winning leading independent website serving the needs of the diabetes community
• dLifeTV – solutions, cooking tips and a look at life with diabetes through the eyes of real people offering their stories. Episodes are available at dLifeTV.com on Sundays, 7pm/ET and 4pm/PT, and are co-hosted by comedian and actor Jim Turner (HBO’s ARLI$$, MTV’s Randee of the Redwoods) and journalist and news anchor Benno Schmidt (NBC, CBS, CNN) – both of whom share their own stories of living successfully with diabetes.
• dLife Foodstuff and dLife dBrief – two weekly newsletters offering practical lifestyle content
• dLife Educator – engages high practice load practitioners through a series of direct mail, email and the dLife Education Update e-newsletter
• dLife Diabetes Mobile Companion – an award winning app that allows users to manage their diabetes on-the-go
• dLife Connect – pharmacist point-of-care co-branded magazine that is available at 4,700 Rite Aid locations in 31 states
• Healthcare Services – A behavior modification platform for population health for health plan, pharmaceutical and medical device clients
According to Eric Sherman, CEO of the acquiring company, Veria Living, a multiplatform media brand devoted to showcasing healthy lifestyle and wellness programming, the digital teams from both Veria Living and dLife will initially look to co-develop and co-produce new, original diabetes-related content. Veria Living and dLife will also look for ways to leverage existing library content in the health and wellness space, with advertising sales overseen by Veria Living SVP of Advertising Sales, Russell Maitland. Remarked dLife CEO Sean Foster, “dLife is excited to become a key component of Veria’s global outreach. The collective strength of a combined organization with such complementary solutions will enable us to expand upon our legacy of leadership in the diabetes management industry within the U.S. and internationally.”
dLife is the leader in diabetes self-care and a community network and resource for millions of people with prediabetes, diabetes, their caregivers and healthcare providers. dLife engages this growing population in positive and proactive self-care across a variety of media channels. Its award-winning outlets include dLife.com, the leading online diabetes destination, attracting over one million unique visitors each month and featuring the widest and deepest variety of original content and resources anywhere; dLifeTV, the only web series dedicated to people with diabetes, available on an on-demand basis; popular mobile applications; as well as other consumer and professional programs driving proactive diabetes self-management. dLife has been recognized with numerous media and editorial awards.
About Covington Associates
Covington Associates is a premier boutique investment banking firm with offices in Boston, Chicago, and New York. Founded in 1991, the vision for Covington Associates has been to provide our clients with the highest caliber of senior-level attention and to remain an advice driven and results focused organization. Covington offers advisory services in the areas of mergers and acquisitions (“M & A”), capital raising, strategic advisory, fairness opinions, valuations and follow-ons to middle-market companies across the Healthcare, Business Services, Consumer & Industrial, and Technology verticals. Covington Associates has completed more than 200 transactions globally for both private and publicly traded companies with compiled transaction value in excess of $15 billion.