Strive: Strive Medical Acquires Charles Pharmacy to Expand Diabetes Supplies Offering
Deal News | Feb 14, 2025 | NMS Capital
Strive Medical, under the aegis of the private equity firm NMS Capital, has expanded its geographical and service portfolio through the acquisition of Charles Pharmacy & Surgical. Operating out of the Bronx, NY, Charles Pharmacy has been a respected provider of pharmaceutical and diabetic services since 1968. This acquisition is a significant milestone in Strive Medical's growth strategy, as it broadens the company's reach and strengthens its offerings in the pharmaceutical and diabetic supply sectors. This move follows an earlier acquisition of ProMed, LLC, which helped Strive Medical penetrate deeper into the diabetic end-market. The acquisition was facilitated by Paragon Ventures. NMS Capital sees this purchase as a strategic fit that aligns with its investment themes, focusing on business and healthcare services, and aims to accelerate growth through both organic means and further acquisitions.
Sectors
- Healthcare Services
- Private Equity
- Pharmaceuticals
Geography
- United States – Both Strive Medical and Charles Pharmacy operate within and serve customers across the United States.
- New York – Charles Pharmacy is based in the Bronx, thereby expanding Strive Medical's geographic footprint in New York.
- Texas – Strive Medical is headquartered in Irving, Texas, forming part of their operational geography.
Industry
- Healthcare Services – The acquisition involves Strive Medical expanding its healthcare service offerings in the supply of diabetic and medical supplies.
- Private Equity – NMS Capital, a private equity firm, is orchestrating the expansion of its portfolio company through strategic acquisitions.
- Pharmaceuticals – Charles Pharmacy operates within the pharmaceutical sector, providing medicines and related healthcare services since 1968.
Financials
- N/A – The financial terms of the acquisition were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Strive Medical | Acquirer | Company | A provider of urological, wound care, diabetic and other disposable medical supplies. |
| Charles Pharmacy & Surgical | Target | Company | A pharmacy and DME provider of diabetes supplies based in the Bronx, NY, established in 1968. |
| NMS Capital | PE Firm | Company | A private equity firm managing over $1.5 billion in assets, focusing on business and healthcare services. |
| Paragon Ventures | Legal Advisor | Company | Handled the transactional advisory for Charles Pharmacy in this acquisition. |