The Nicola Wealth Private Debt team is pleased to announce its fund’s realization of a first lien term loan financing to PharmaSmart International (“PharmaSmart”), a portfolio company of CPS Capital. Proceeds from the financing, raised in July 2021, were used to provide growth capital for new customer contracts and accelerate PharmaSmart's connected health growth strategy across Canada and the United States. The Nicola Private Debt Fund was co-lead lender alongside FirePower Capital, and the investment was successfully realized in July 2023.
PharmaSmart is one of the largest providers, servicers and lessors of technology-enabled health kiosks and related patient engagement and connected health solutions. The Company is based in Rochester, New York and currently serves more than 7,000 locations in some of North America’s largest retail pharmacies, worksites, fitness facilities and medical settings. PharmaSmart's Health IT database currently holds more than (100) million patient biometric sessions, powering data integration with pharmacists and other providers for improved care. 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 Nicola Private Debt Fund is an active private lender, managed by the Nicola Wealth Private Debt team, that provides first lien, unitranche and subordinated debt financing primarily to profitable North American middle market companies.
Learn more here: https://nicolawealth.com/private-capital/strategies/private-debt
