Birchwell Consumer Health, a newly formed U.S.

consumer healthcare platform sponsored by Avista Healthcare Partners, announced on May 4, 2026, that it has acquired Bag Balm, a Vermont-based therapeutic skincare brand founded in 1899, from a seller group led by Gemini Investors.

Financial terms were not disclosed.

Avista launched Birchwell to acquire differentiated over-the-counter and skincare brands with strong growth potential.

The platform represents the firm’s eighth consumer healthcare vehicle globally and its fourth in North America.

Avista cited demand for accessible, low-cost self-care solutions as a driver behind the platform.

Bag Balm sells a versatile ointment and has expanded into adjacent product formats over its more than 125-year history.

The brand is distributed nationally through brick-and-mortar and e-commerce retailers and holds a loyal consumer base.

Birchwell intends to scale Bag Balm’s operations and pursue further acquisitions of trusted consumer healthcare brands.