Pharmavite Acquires Bonafide Health for $425 Million
Pharmavite has acquired menopause solutions company Bonafide Health for $425 million, as it looks to expand its portfolio of women’s health brands.
Pharmavite, which launched in 1971, is a vitamin, mineral and supplement company known for its mass brand Nature Made, which is available at retailers like CVS, Target and Walmart. Its portfolio also includes Uqora, a urinary tract health company, and Equelle, a menopause supplement brand, both part of the company’s commitment to the women’s health category.
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“[This] is the latest step and it’s a big step in our transformation,” said Pharmavite chief executive officer Jeffrey Boutelle. “Five years ago, we embarked on a transformation to become multidimensional, so continuing to intensely focused on Nature Made but build out and prioritize a portfolio focused on a second platform: women’s health.”
Founded in 2017, Bonafide Health provides natural solutions for women experiencing symptoms of menopause. The brand has been focused on drug- and hormone-free alternatives and conducting clinical trials focused entirely on women, as previous research in the space had been conducted on men.
In terms of what the acquisition means for Bonafide Health, the team is focused on growth.
“Bonafide as a start-up is only able to reach a limited number of health care practitioners,” said Tobe Cohen, Pharmavite executive vice president and chief growth officer. “That’s somewhere that we can help accelerate.”
According to Bonafide Health, 14,000 unpaid health care professionals support the brand.
Furthermore, Bonafide Health will expand its product offering, which includes an array of supplements and suppositories that treat key symptoms of menopause. Retail is also an opportunity for the business.
“We do view retail expansion as part of the midterm opportunity,” Cohen said. “I wouldn’t look for it in the next 12 months, but it’s certainly something that we think there’s a big opportunity [for].”
Bonafide CEO Michael Satow added: “Partnering with a with a company like Pharmavite that is the leader in the dietary supplements space and now the leader in nutraceutical women’s health is exciting because we’ll have all these additional resources and a lot of expertise that we don’t have to take the business to the next level.”
According to the companies’ public statement, Bonafide will continue to operate from Harrison, N.Y., and “there are no workforce implications to the acquisition.”
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