Consumer
Nutrisystem Owner Wellful in Debt Talks as Ozempic Hits Sales
- Creditors of Kainos Capital-backed firm have hired lawyers
- Ozempic and other GLP-1 medications have increased competition
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Battling the increasing allure and accessibility of drugs like Ozempic, the company behind last-generation weight-loss and diet plans Jenny Craig and Nutrisystem is experiencing losses so sharp it’s struggling to pay interest on its loans.
Wellful Inc., backed by private equity firm Kainos Capital, is consulting experts as it weighs options to address its debt load and huddles with creditors to discuss specifics, according to people familiar with the discussions, and has tapped investment bank Houlihan Lokey Inc. to manage the process.