Tivity selling Nutrisystem

Tivity Health leaders said Monday they have signed a deal to sell their nutrition unit for $575 million, less than half the amount they paid for the Nutrisystem and South Beach Diet businesses less than two years ago.

Preparing to buy Nutrisystem is Kainos Capital, a Dallas-based private equity firm focused on food and consumer products companies. The firm will pay Tivity cash for the Nutrisystem group, the value of which Tivity’s execs have had to write down by more than $570 million. Franklin-based Tivity will that money to pay down debt — the company took on about $1 billion in debt to help it buy Nutrisystem in March of last year — and refocus on its seniors-focused health care business.