Irving, TX, February 16, 2025 – Paragon Ventures is pleased to announce the acquisition of its client, The Charles Pharmacy and Surgical. Strive Medical, a portfolio company of NMS Capital, announced the acquisition of Charles Pharmacy & Surgical, an established pharmacy and DME provider of diabetes supplies since 1968. This strategic acquisition represents a major milestone in Strive Medical’s continuous growth and dedication to delivering top-quality medical supplies and services to patients throughout the United States.
“We are thrilled to welcome Charles Pharmacy into the Strive Medical community,” said Todd Philbrick, Chief Executive Officer of Strive Medical. “This acquisition aligns with our mission to deliver the highest quality care and products to our patients. We look forward to working closely with the team at Charles Pharmacy to continue providing exceptional service to New York.”
Dava Bailey, Owner, Charles Pharmacy & Surgical shared, “We are excited to join forces with a company that shares our unwavering commitment to delivering outstanding customer experiences. By leveraging their strengths and expertise, we will expand our ability to serve even more patients, making a meaningful impact on their lives while continuing to uphold the highest standards of care.”
Luis Gonzalez, Senior Partner at NMS, added, “Last year, Strive made a strategic acquisition in ProMed, LLC which expanded its service offering into the diabetic end-market. The acquisition of Charles Pharmacy broadens Strive’s diabetic offering by expanding into a new geography with pharmacy benefit service capabilities.”
Charles Pharmacy was represented by Paragon Ventures in this transaction. Paragon Ventures’ Managing Director, April Mason, lead the transaction team in the sale. April commented “Dava was well prepared for the sale process and an outstanding manager of her business. Working with Dava was a genuine pleasure, her industry knowledge, commitment to quality patient care and sincere desire to see the business grow was inspiring.”
The mergers and acquisitions (M&A) market for diabetic supply companies is currently experiencing robust growth, influenced by several key factors. The increasing prevalence of diabetes globally has encouraged players in the industry to focus on enhancing their market presence and growth through strategic M&A activities. These acquisitions illustrate the strategic moves companies are making to consolidate their market positions and expand their capabilities in this sector.
About Strive Medical:
Strive Medical is a provider of direct-to-patient urological, wound care, diabetes and other disposable medical supplies to patients in the home setting, serving patients across the US. Strive is headquartered in Irving, Texas. Since its founding, Strive has focused on giving patients the highest quality customer service and best products available. For additional information on Strive, please visit the company’s website at www.strivemedical.com.
About NMS Capital:
Founded in 2010, NMS Capital is an experienced private equity firm managing assets in excess of $1.5 billion. Since inception, NMS has partnered with management teams in over 150 investments and follow-on acquisitions across defined investment themes within the Business Services and Healthcare Services industries. For additional information on NMS, please visit the firm’s website at www.nms-capital.com. Follow NMS Capital on www.linkedin.com/company/nms-capital.
About Paragon Ventures
Paragon Ventures is a leading investment banking advisory firm specializing in merger and acquisition advisory exclusively representing middle market healthcare companies. With over three decades of experience, Paragon Ventures has been a catalyst for shaping the healthcare landscape through its expertise in navigating complex transactions across the continuum of care. The firm has a comprehensive knowledge of healthcare market sectors and specialties, and unsurpassed expertise and experience in the M&A process. For additional information please visit www.paragonventures.com. Follow Paragon Ventures on LinkedIn https://www.linkedin.com/company/paragonventures
