Summit-based Remedy Meds recently entered a definitive agreement to acquire Thirty Madison, they announced Wednesday.
The transaction will take place for just more than $500 million and is expected to close in Q4. Remedy Meds today sits at $450 million in annual revenue with substantial profitability, allowing Thirty Madison’s $220 million of revenue business to benefit from the finances of a scaled operating platform.
The partnership hopes to create a larger, multibrand platform across women’s, men’s and metabolic health. Additionally, it hopes to create an integrated pharmacy network. That plan includes nationwide clinician coverage, insurance coverage, same-day video visits, rapid prescription review, tailored treatment plans and direct-to-door delivery.
Remedy Meds CEO Haris Memon highlighted the intended goals of the partnership
“By bringing together Thirty Madison’s trusted brands with Remedy Meds’ acquisition engine and pharmacy infrastructure, we will broaden access, shorten time-to-treatment and maintain the financial discipline that has defined our growth,” he said.
Thirty Madison CEO Demetri Karagas further echoed this idea.
“Thirty Madison and Remedy Meds share a belief that patients deserve a better health care experience,” he said. “Together, we will deliver on making high-quality specialty care easier to access for millions of patients across the conditions we serve.”
