NEW YORK, Jan. 13, 2016 /PRNewswire/ -- Entrepreneurs Matthew Davidge and Joe Covey today announced that they have sold The Wellness Network to an entity formed by the clients of Wafra Partners LLC.
The Wellness Network owns and operates the largest and most comprehensive in-hospital health TV networks in the US, available in more than 2,000 hospitals and on 300,000 screens. Channels include The Patient Channel, The Newborn Channel, Your NICU Baby, The HeartCare Channel and MedSerenity Channel.
"The Wellness Network has made great strides under our ownership to become the preeminent hospital patient education business," said Joe Covey. "I'd like to thank the Wellness Network employees for their hard work and accomplishments over the past five years."
"We are ready to find new media assets where we can add capital and hands-on management," said Matthew Davidge. "We are particularly interested in television as these are challenging and disruptive times for that industry."
Matthew Davidge and Joe Covey have made eight acquisitions since 2008. These have included the Mag Rack TV network which was acquired from Cablevision in 2008 and The Wellness Network which was acquired from NBC in 2010. Covey and Davidge plan to focus on new opportunities in television and new media.
Berkery Noyes & Co, LLC represented the seller in this transaction.
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SOURCE The Wellness Network