CLEVELAND and NEW YORK and CHICAGO, January 25, 2024 /PRNewswire/ — Cyprium Partners is pleased to announce that it has completed its 100th investment in debt and equity platform OneroRx Inc, headquartered in West Des Moines, Iowa.
OneroRx provides integrated pharmacy services and medical supplies to patients in underserved rural counties and urban areas in the Midwest. The company fills more than 3 million prescriptions annually, providing personalized, quality care to patients in six states through 65 locations. OneroRx has grown through both de novo expansion and a number of single- and multi-site acquisitions, including several in the past year. In late 2023, Cyprium Partners invested subordinated debt and minority common equity to support the company’s acquisition strategy and future growth.
“We strongly believe in the importance of providing continuous local access to comprehensive pharmacy services,” said OneroRx President and CEO Joseph Dunham II. “Our strategy is to continue to expand our footprint to combat the growing number of pharmacy deserts in the U.S., and this transaction provides us with the capital needed to execute on our growth plan.”
Dedicated to its mission of increasing access to care within local communities, OneroRx leverages its scale and technology to provide retail, specialty and telepharmacy prescription services to individuals, regional hospitals, senior living facilities, facilities for long-term care and group homes in markets that have historically been underserved by large national chains. OneroRx’s smaller stores, cash rebate program, compliance packaging capabilities and delivery services serve to make critical pharmacy services more accessible and affordable, helping to improve medication adherence.
“I have been incredibly impressed with the skill and dedication of the OneroRx management team and employees,” said Beth Haas, partner at Cyprium. “The company’s ability to offer vital services at affordable prices is a key component in improving patient outcomes, and we are excited to support them in this endeavor.” I couldn’t be happier that our 100th platform company has such an unwavering focus on serving its patients and communities.”
About Cyprium Partners
Cyprium Partners is a private equity and mezzanine firm focused on non-controlling investments in profitable middle market companies, enabling company owners and their management teams to retain a controlling interest in their businesses. Cyprium provides common equity, preferred stock, subordinated debt or any combination thereof, offering flexibility and increasing security at closing.
With offices in Cleveland, New Yorkand Chicagothe company invests 5 million dollars to 60 million dollars per transaction in US and Canadian companies with 4 million dollars or more than EBITDA. Since its founding in 1998, the team has been deployed 1.9 billion dollars in 100 platform investments everywhere North America. Learn more about Cyprium Partners at cyprium.com
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SOURCE Cyprium Partners
