Irving, TX, June 2024 – Strive Medical (“Strive” or the “Company”), a portfolio company of NMS Capital (“NMS”), announced today the acquisition of ProMed DME, LLC (“ProMed DME” or the “Company”), a durable medical equipment (“DME”) provider specializing in diabetic continuous glucose monitoring (CGM) supplies.
“This transaction is a crucial milestone in Strive Medical’s dedication to investing in growth markets and delivering our unique offerings to patients in rapidly expanding disease areas,” said Todd Philbrick, CEO of Strive. “We are excited to collaborate with the ProMed team, known for their patient-first approach, and to enhance our commercial reach. This next chapter for Strive broadens our presence in the healthcare ecosystem. Strive Medical plans to operate ProMed DME as a Diabetes Center of Excellence, continuing to support the patients who rely on us.”
Luis Gonzalez, Senior Partner at NMS, added, “The acquisition increases Strive’s urological patient census while also expanding the Company’s product offering into the highly attractive diabetic supplies end market. The combined scale and reach will further solidify Strive’s position as a leading independent, specialty distributor of medical supplies, which now includes CGM products..”
About ProMed DME
Founded in 2020, ProMed DME is a durable medical equipment provider in Stuart, Florida specializing in diabetes, urology, and wound care supplies. ProMed DME is a Medicare accredited provider with a branch office in Johnston, TN. Promed focuses on providing top-quality medical supplies with exceptional customer experience. Please visit the Company’s website at www.promed-dme.com.
About Strive Medical
Strive Medical is a provider of direct-to-patient urological, wound care, 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. The firm’s principal strategy is to create long-term value by providing strategic and operational resources to growth-oriented companies led by founders or experienced management teams. NMS has successfully built industry leading lower middle market companies in defensible and scalable end markets by accelerating organic and acquisition-driven growth.
The M&A market for healthcare companies continues to build on STRATEGIC opportunities. The strategic corporate buyers and private equity investors remain committed to acquiring strong businesses that are well prepared for a transaction. Across the continuum of care, these buyers and investors are looking for well established, profitable businesses and offering prime valuations and options for management.
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