CPS Capital Announces Growth Investment into PharmaSmart International - Nicola Wealth

CPS Capital Announces Growth Investment into PharmaSmart International


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TORONTOJuly 12, 2021 /PRNewswire/ — CPS Capital (“CPS”), a leading Toronto-based private equity firm, is pleased to announce that it has made a strategic growth investment in PharmaSmart International (“PharmaSmart”) alongside the existing management team.

PharmaSmart is a North American leader in the manufacture of technology-enabled health kiosks and related patient engagement and connected health solutions. The company collects and manages validated patient data such as blood pressure, weight, BMI and blood glucose, and provides value-added health IT services to retail pharmacies, employers, providers and insurers. The proceeds from the investment provide growth capital for new customer contracts which will accelerate PharmaSmart’s connected health growth strategy across Canada and the United States.

Fred Sarkis, CEO of PharmaSmart, added, “We are excited to take this next step in our company journey and to partner with CPS in rolling out our new PS-2000D platform, which incorporates 20 years of experience and innovation and delivers a fully realized, interoperable health solution for retail pharmacy, providers, and their patients. The influx of capital and expertise allows us the platform to aggressively roll out our technologies across North America.”

Michael Arblaster, Partner of CPS, said, “We are extremely pleased to be partnering with the founding management group at PharmaSmart. We believe that their clinically validated technologies are an invaluable tool for pharmacies to drive foot traffic and increased engagement. We are additionally excited to showcase their value to international markets, primary care settings and employer worksites to advance population health strategies and deploy data-driven improvements to health outcomes.

CPS secured term debt financing for the transaction from FirePower Capital and Nicola Wealth.

Trevor Simpson, Associate Partner at Firepower Capital, said, “We are excited to partner with CPS to support PharmaSmart’s growth plan. PharmaSmart’s market position will be cemented through a new contract with a leading North American pharmacy chain, which positions them well for strong and sustained growth. The commitment from PharmaSmart’s customers throughout the pandemic exemplifies the company’s market goodwill and sustainable healthcare value proposal. Through our diligence process, it is clear PharmaSmart’s products are top-tier and provide real value to their pharmacy clients and consumers by delivering a trustworthy, end-to-end health screening and engagement platform that moves the needle in patient outcomes.”

Jurgen van Vuuren, Senior Director of the Nicola Private Debt Fund, said, “We are delighted to partner with CPS and the team at PharmaSmart to support the company’s next phase of growth. PharmaSmart’s management team has an impressive 20+ year track record of success, and their new generation of health kiosks will help both patients and health professionals drive better long-term health outcomes.”

Loon Advisors served as exclusive financial advisors to PharmaSmart.

About CPS Capital
CPS is a leading middle-market private equity investor, who looks to become value-added partners with every business they work with. They provide the right set of financial and operational resources for their portfolio companies. The CPS team won’t hesitate to “roll up their sleeves” and are not looking to be passive investors. CPS brings significant capability, expertise, and capital to provide business owners with an attractive option compared to traditional financial or strategic buyers. For more information, please visit www.cpscapital.com.

About PharmaSmart International
PharmaSmart was founded over 20 years ago with the objective of improving chronic disease outcomes through screening and tracking patient hypertension and enabling physicians and pharmacists to conduct data-based analysis. The company developed a health station kiosk that helps customers and health care providers to track key health metrics, including blood pressure, glucose levels, and BMI. For more information, please visit www.pharmasmart.com.

About FirePower Capital
FirePower Capital is a private capital and M&A advisory firm built for Canada’s entrepreneurs. Its team of 30+ deal professionals helps mid-market businesses complete mission-critical transactions, by advising them or by investing in their companies directly. For more information, please visit www.firepowercapital.com.

About Nicola Wealth
Nicola Wealth is a wealth management firm dedicated to serving the complex needs of high-net-worth families, entrepreneurs, and professionals. Today, the firm operates offices across Canada advising institutions, multi-generational families, and accomplished individuals of all professions and backgrounds. Nicola Wealth manages over $9.7 billion in assets under management (AUM); investing in a wide range of asset classes including direct real estate, private equity, private debt, commercial mortgages and more. For more information, please visit www.nicolawealth.com.