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5WPR Awarded Grand Stevie Award in 2021 American Business Awards®
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5W Public Relations Celebrates Impactful Purpose-Driven Earth Month Campaigns Across Consumer Practice
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NEW YORK, May 13, 2021 /PRNewswire/  5W Public Relations, one of the largest independently-owned PR firms in the U.S., announced today the return of Pritikin Longevity Center to its roster of health and wellness clients. 5WPR and Pritikin have had an ongoing relationship since 2006.
The team will execute a strategic media relations campaign to increase brand awareness, as well as modernize the brand with new positioning around integrated health transformation.
- Advertisement - We are thrilled to resume our work with Pritikin, said 5WPR Consumer Practice President, Dara A. Busch. As a leading wellness destination, we look forward to elevating their presence and connecting the brand with today s consumers at a time when health and wellness could not be more important.
Ascendis Health forges a deal with its lenders to settle R7.61bn debt
By Sandile Mchunu
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DURBAN - ASCENDIS Health yesterday reached an agreement with its lenders for the restructuring and recapitalisation agreement with its creditors Blantyre Capital and L1 Health for the settlement of its outstanding debt of â¬447 million (R7.61 billion).
However, the group said the proposed transaction required 75 percent of shareholder approval, adding that if it did not receive the required shareholder support, the senior lenders would be able to enforce their rights and Ascendis Health would be placed in business rescue.
The agreement comes after Blantyre Capital and L1 Health increased their exposure to the company s debt to more than 75 percent of the aggregate exposure of the company s consortium of external lenders in February.
Ascendis Health will surrender its valuable international assets to settle debt in a restructuring and recapitalisation deal reached with its lenders. If shareholders approve the transaction, they won’t be left empty-handed, retaining most of the SA businesses. If they don’t approve it, they may be left with nothing.
The compromise deal, announced on Wednesday, is the result of months of heavy bartering between management led by CEO Mark Sardi and chief financial officer Cheryl-Jane “CJ” Kujenga and creditors Blantyre Capital and L1 Health.
Sardi, a former head of investment banking at Nedbank, has also held CEO and CFO roles at a number of other businesses, including House of Busby, Cipla South Africa and Truworths International. He joined Ascendis more than 18 months ago to lead its turnaround. Kujenga joined in December after leading a balance sheet restructuring process while CFO at Adcorp.
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