Pharmavite, a West Hills vitamin and complement firm, has acquired Bonafide Well being, a ladies’s well being merchandise firm primarily based in Harrison, New York, for $425 million.
Pharmavite, based in 1971, is finest identified for its NatureMade model of nutritional vitamins, together with its MegaFoods diet product line. It’s a subisidary of Tokyo-based pharmaceutical and nutraceutical agency Otsuka Holding Co., which acquired the corporate in 1989. Otsuka Holding reported $13 billion in income in 2022.
Bonfide Well being was based in 2017 to offer ladies with secure and efficient choices for reduction throughout menopause. The corporate has a portfolio of drug- and hormone-free merchandise to deal with menopause signs and different ladies’s well being points related to ageing, comparable to vaginal dryness.
By means of its acquisition of Bonafide Well being, which was introduced on Nov. 30, Pharmavite is increasing and complementing its present ladies’s well being product traces.
The corporate developed a product known as Equelle to deal with menopause and different signs associated to estrogen decline. Pharmavite started promoting Equelle in Japan in 2014 and in the US 5 years later.
In 2021, Pharmavite acquired Uqora, a San Diego firm that developed merchandise to deal with urinary tract infections.
Now comes the acquisition of Bonafide.
“This (Bonafide) acquisition positions us because the nation’s main ladies’s well being nutraceutical firm, signaling a brand new period of innovation and science-based options on this underserved area,” mentioned Jeff Boutelle, Pharmavite’s chief govt. “Bonafide’s unwavering dedication to analysis, growth, and strong scientific proof mirrors Pharmavite’s rigorous requirements, whereas its deep relationship with well being care professionals aligns with our objective of guaranteeing diet schooling is on the forefront of the business.”
As for Bonafide Well being, its chief govt and co-founder, Michael Satow, mentioned the corporate had been looking for a companion for some time.
“We’ve been on the lookout for the appropriate companion to develop the enterprise and attain extra ladies that want help,” Satow mentioned.
“Pharmavite deeply understands the significance of the mannequin we’ve constructed, from the rigorous scientific knowledge that underpins our merchandise to the facility of the work we do with the docs and different well being care suppliers who’re having conversations with ladies throughout the nation on the lookout for higher options,” Satow added.
Apart from the acquisition value of $425 million, no different monetary phrases of the transaction have been disclosed.
In accordance with Pharmavite’s announcement, Bonafide will proceed to function out of its present headquarters. Pharmavite additionally indicated it doesn’t plan any workforce reductions because of the acquisition. In accordance with the web site Pitchbook, Bonafide Well being has about 80 workers.
Pharmavite presently employs about 1,750 and was already planning so as to add one other 225 to that whole when it opens a $200 million, 225,000-square-foot manufacturing unit in New Albany, Ohio – a suburb of Columbus – towards the tip of this yr. Pharmavite’s final manufacturing growth occurred in 2013 with a facility in Opelika, Alabama, which has since grown to full capability.
Pharmavite was suggested on the Bonafide Well being acquisition by Century Metropolis-based Houlihan Lokey Inc. Bonafide Well being was suggested by New York-based William Hood & Co. and San Francisco-based Evolution Life Science Companions.
Originally posted 2024-01-15 08:01:49.