Carlin Consumer Health

What Carlin Consumer Health does

Carlin Consumer Health is a private, New York-based consumer health platform founded in February 2022 by healthcare-focused private equity firms Hildred Capital Management and Bourne Partners Strategic Capital, together with retail channel specialist The Emerson Group. The company operates a buy-and-build strategy, acquiring established over-the-counter pharmaceutical brands that large pharmaceutical companies seek to divest, and reinvesting in sales, marketing, and product development to drive growth. Its portfolio comprises ZEGERID OTC (proton pump inhibitor for frequent heartburn, acquired from Bayer AG in February 2022), Mylanta and Mylicon (digestive health brands acquired through Infirst USA Holdings in October 2023), Penetrex (joint and muscle care brand acquired from Wellbeam Consumer Health in April 2024), and Mineral Ice Extreme (the company's first owned proprietary brand, featuring DEEPCOLD cooling technology, launched in June 2026 in spray, gel, and dry stick formats at a $9.99 price point across 1,300+ Walmart and 900 CVS stores).

Carlin's go-to-market is sales-led through partnerships with major U.S. retail chains, supplemented by direct-to-consumer e-commerce and consumer awareness campaigns across print and digital media. Distribution is anchored in national retail pharmacy and mass-market channels, with The Emerson Group providing category management, retail relationships, and logistics infrastructure. The company targets the U.S. OTC remedies and acute self-care market, which grew from approximately $48 billion in 2019 to $57 billion in 2024 at roughly 4% per annum. End consumers are horizontally positioned across the U.S. population seeking convenient, non-prescription treatment for common conditions including frequent heartburn, gastrointestinal issues, and topical pain. Revenue is generated through unit sales of branded OTC products; financial details including revenue figures, funding rounds, and equity stakes are not publicly disclosed.

From a technology standpoint, Carlin's portfolio rests on conventional OTC pharmaceutical formulations rather than novel technology platforms. The principal differentiators are the proprietary DEEPCOLD menthol-based formulation in Mineral Ice Extreme and the unique dual-ingredient branded combination in ZEGERID OTC. The company has no disclosed AI/ML capabilities, APIs, or digital health features; its competitive positioning is built on brand equity, retail distribution, and operating leverage from PE ownership rather than technological disruption.

Name

Carlin Consumer Health

Legal name

Carlin Consumer Health

Website

https://carlinconsumerhealth.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

Carlin Consumer Health is a private equity-backed consumer health platform founded in 2022 that acquires and grows over-the-counter pharmaceutical brands, including ZEGERID OTC, Mylanta, Mylicon, Penetrex, and Mineral Ice Extreme, distributed primarily through major U.S. retail chains.

Ownership category

akta.pro rank

Product category

Over-the-Counter Consumer Healthcare

NAICS

Health and Personal Care Retailers (456)

SIC

Wholesale-Drugs, Proprietaries & Druggists' Sundries (5122)

akta.pro industry

PRIMARYCRADAMAE

Digestive Health OTC (Antacids, Laxatives, Anti-diarrheals, Probiotics OTC)

Consumer Products & Retail/Consumer Packaged Goods (CPG) Manufacturing & Brands/Health & Hygiene OTC Consumer Goods (First Aid, Oral Care, Personal Health)

SECONDARYCRADAMAC

OTC Pain Relief & Fever (Analgesics, Anti-inflammatory, Topical Pain Relief)

Consumer Products & Retail/Consumer Packaged Goods (CPG) Manufacturing & Brands/Health & Hygiene OTC Consumer Goods (First Aid, Oral Care, Personal Health)

SECONDARYCRAOAHAB

OTC Medicines & Consumer Health Products Distribution

Consumer Products & Retail/Wholesale, Distribution & Category Management/Health, OTC & Pharmacy Wholesale Distribution

Keywords

• Over-the-counter pharmaceuticals
• Consumer health brands
• OTC healthcare products
• Heartburn and digestive health
• Topical pain relief

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Marketing or Sales, Operations, Personnel, Technology or R&D

Revenue model

1. OTC Pharmaceutical Product Sales: Carlin generates revenue through the sale of over-the-counter healthcare brands including ZEGERID OTC, Penetrex, Mylanta, and Mylicon. The company operates as a platform acquiring and growing established OTC brands.
2. Topical Pain Relief Product Sales: Revenue from Mineral Ice Extreme product line including pain relief sprays, gels, and dry sticks featuring cold technology and menthol formulas, sold through major retail chains.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Carlin Consumer Health is a private equity-backed platform that acquires, commercializes, and grows established over-the-counter (OTC) healthcare brands. Its current portfolio includes Zegerid OTC (heartburn treatment), Mylanta and Mylicon (digestive health), Penetrex (joint and muscle care), and Mineral Ice Extreme (topical menthol pain relief with proprietary DEEPCOLD technology). Products are distributed primarily through major U.S. retail chains including Walmart and CVS, as well as e-commerce channels.

Product overview

Carlin Consumer Health is a private equity-backed consumer health company that operates as a platform for acquiring and growing over-the-counter (OTC) brands. The company acquires established OTC brands from pharmaceutical companies looking to divest consumer health assets and supports their growth through sales, marketing, and product development investments. The current portfolio includes: Zegerid OTC (heartburn treatment/proton pump inhibitor acquired from Bayer), Mylanta and Mylicon (digestive health brands acquired through Infirst Healthcare), Penetrex (joint and muscle care brand acquired from Wellbeam Consumer Health), and Mineral Ice Extreme (proprietary topical pain relief brand with DEEPCOLD technology). The company is backed by healthcare-focused private equity firms Hildred Capital Management and Bourne Partners Strategic Capital, along with The Emerson Group for retail distribution expertise.

Differentiator

Problem solved

Functional benefit

Brands

• ZEGERID OTC: OTC proton pump inhibitor for treatment of frequent heartburn with dual-ingredient branded combination providing 24-hour relief
• Mylanta
• Mylicon
• Penetrex
• Mineral Ice Extreme

Products and services

• Zegerid OTC Over-the-counter proton pump inhibitor (branded dual-ingredient combination) that provides 24-hour relief from frequent heartburn in one daily capsule; acquired from Bayer AG. Targeted at adult U.S. consumers seeking non-prescription frequent heartburn treatment.
• Mylanta Over-the-counter digestive health brand offering relief from heartburn, acid reflux, and gas; acquired by Carlin via the Infirst Healthcare acquisition. Marketed to U.S. consumers seeking convenient digestive symptom relief.
• Mylicon Over-the-counter digestive health brand recognized for gas relief products (notably infant gas relief); acquired by Carlin via the Infirst Healthcare acquisition. Targeted at U.S. consumers and caregivers seeking OTC gas relief.
• Penetrex Topical joint and muscle care brand providing over-the-counter pain relief solutions; acquired from Wellbeam Consumer Health. Sold to U.S. consumers seeking non-prescription topical relief of joint and muscle discomfort.
• Mineral Ice Extreme Topical menthol-based pain relief brand featuring Carlin's proprietary DEEPCOLD cold technology for fast-acting cooling sensation. Available in spray, gel, and dry stick formats priced at $9.99 each. Distributed nationwide through Walmart (1,300+ locations) and CVS (900 stores). Targeted at U.S. consumers seeking fast-acting OTC relief of muscle and joint pain.

Quantifiable outcome

• Mineral Ice Extreme launched in 2,200+ retail locations (1,300 Walmart + 900 CVS)

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Five partnerships are on record, tiered minor and core.

• Wellbeam Consumer HealthminorOthers · 1 May 2024Carlin Consumer Health acquired Penetrex joint and muscle care brand from Wellbeam Consumer Health, integrating it into its portfolio of OTC brands. Transaction announced in New York with no financial terms disclosed.
• Sidley (Sidley Austin LLP)minorImplementation/ SI/ Consulting Partner · 17 November 2023Sidley represented Carlin Consumer Health as legal adviser in its acquisition of Infirst Healthcare. Provided legal advisory services for the transaction.
• Infirst USA Holdings, LLCminorOthers · 24 October 2023Carlin acquired Infirst USA Holdings, LLC, parent company of Infirst Healthcare Inc. (brands Mylanta and Mylicon). Transaction made Infirst a wholly owned subsidiary of Carlin, supporting its growth and innovation pipeline in the OTC healthcare market.
• The Emerson GroupcoreChannel Partner/ Reseller/ Distributor · 1 February 2022The Emerson Group is a consumer products equity organization singularly focused on brands reaching maximum potential. Specializes in strategic planning, category assessments, due diligence, acquisition, and feasibility studies. Provides logistics infrastructure, data, and shopper insights. Has over 25 years of experience and long-standing connections to major and regional retailers.
• Bayer AGminorOthers · 1 February 2022Bayer AG divested ZEGERID OTC to Carlin Consumer Health as part of the company's formation. This represents a brand acquisition from a major pharmaceutical company as the first asset for Carlin's OTC platform.

Scale indicators2 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Haleon: GSK's 2022 spin-off focused purely on consumer healthcare, owning brands like Advil, Centrum, and Tums. Direct category competitor to Carlin's pain relief and digestive health brands at vastly greater scale.
• Bayer Consumer Health: Major OTC owner (Aspirin, Aleve, Claritin, MiraLAX) that divested Zegerid OTC to Carlin at platform formation. Directly comparable category footprint in analgesics and digestive health.
• Church & Dwight: Major OTC and personal care player behind brands such as Orajel and Batiste. Overlaps with Carlin in topical pain/analgesics and digestive health categories, with much broader mass-market distribution.
• Reckitt Benckiser (Health): Owns Mucinex, Delsym, and Gaviscon, directly comparable OTC brands in respiratory and digestive health. Same retail buyer relationships and mass/drug channel dynamics as Carlin.
• Procter & Gamble (Health Care): Owns Pepto-Bismol, Vicks, Metamucil, and Prilosec OTC — direct competitive overlap with Mylanta (Pepto-Bismol) and Zegerid OTC (Prilosec OTC) in digestive health, and Vicks in topical pain/cold.
• Johnson & Johnson (Kenvue spinoff): Kenvue, the J&J consumer health spin-off, owns Tylenol, Motrin, Zyrtec, and Pepcid — overlapping with Carlin's pain relief (Penetrex, Mineral Ice Extreme) and heartburn (Zegerid) categories.
• Bausch Health Companies: Diversified healthcare company with a consumer health portfolio including Ocuvite, PreserVision, and various OTC dermatology/skin health brands. Comparable as a mid-to-large healthcare platform with branded consumer products.

Direct peers

• Prestige Consumer Healthcare: Public OTC roll-up platform that acquires and grows established consumer healthcare brands. Closest direct comparable to Carlin's platform model — buying divestitures from large pharma, leveraging distribution and marketing across the portfolio. Comparable categories include digestive health and pain relief.
• Perrigo Company: Large OTC and consumer self-care products company with leading positions in digestive health, pain, and smoking cessation. Comparable to Carlin as an OTC platform with both branded and private-label products across similar therapeutic categories (antacids, PPI, topical pain).

Others

• Emerson Healthcare (The Emerson Group): Operating partner and equity co-investor in Carlin; provides outsourced sales, marketing, logistics, and retail-relationship services to OTC and consumer health brands. Closely linked as an enabling ecosystem participant rather than a direct competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/carlin-consumerhealth

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Carlin Consumer Health