(Bloomberg) -- Pharmavite LLC, the maker of Nature Made vitamins, has agreed to acquire women’s health company Bonafide Health LLC for $425 million.
The company, whose ultimate parent is Otsuka Holdings Co., isn’t disclosing further financial details of its all-cash deal for Bonafide Health. Bonafide Health will continue to operate out of its current headquarters in Harrison, New York, after the purchase and there are no workforce implications to the acquisition.
The acquisition will allow Pharmavite to continue to grow in the women’s health market, which has been a top priority with products including Uqora and Equelle supplements. Tokyo-based Otsuka, with a market value of more than ¥3.1 trillion ($21 billion), also makes and distributes medical equipment and chemicals, among other products.
“This acquisition positions us as the nation’s leading women’s health nutraceutical company, signaling a new era of innovation and science-based solutions in this under-served space,” said Pharmavite Chief Executive Officer Jeff Boutelle.
Founded in 2017, Bonafide Health offers drug- and hormone-free products to reduce menopausal and premenstrual symptoms. Its six core products include hair and skin treatment Silvessa and Relizen tablets.
Pharmavite, based in West Hills, California, began its effort to become a multi-dimension brand beyond Nature Made around five years ago, Boutelle said in an interview. Pharmavite acquired San Diego women’s urinary health brand Uqora Inc. in 2021, according to a statement at the time.
Including Nature Made’s prenatal vitamins, Pharmavite’s offerings now cover a range of products in a growing multibilion-dollar market, Boutelle said. Future mergers and acquisitions are “definitely in our mindset,” he added.
“We felt for a long time that it’s an area of tremendous unmet need, there’s a demand there,” said Michael Satow, co-founder and CEO of Bonafide Health. “There are more than 30 different symptoms of menopause. Our mission is to help women with hopefully all of them.”
Pharmavite was represented by Houlihan Lokey Inc. in the transaction, while Bonafide Health was advised by William Hood & Co.
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