Trive Capital Partners with Formula Wellness

0

Dallas-based private equity firm Trive Capital Partners has invested in leading holistic wellness services provider Formula Wellness.

WHO: Founded in 2016, Formula Wellness is a comprehensive, medical-based program that provides personalized consultation, preventive testing, and integrated wellness and aesthetics services, empowering individuals to pursue longevity inside and out. Founded on the cornerstones of holistic wellness, including nutrition, hormone balance, nutrients, and aesthetics, Formula Wellness has five locations across the Dallas-Fort Worth metroplex.

Dallas, Texas-based Trive Capital is a private equity firm with over $4 billion of regulatory assets under management. Trive focuses on investing equity and debt in what it sees as strategically viable middle-market companies with the potential for transformational upside through operational improvement.

WHY: Trive’s investment marks a significant inflection point of expansion. Formula Wellness is actively seeking add-on opportunities in the med spa and wellness services space.

IN THEIR OWN WORDS: “The exceptional patient experience at Formula Wellness positions the business to capitalize on consumers’ growing interest in med spa and longevity treatments to improve and extend their quality of life. We are excited to partner with this accomplished team to help realize the vision Dr. Rudman has for Formula Wellness,” said Trive Capital Managing Director Tanner Cope.

Michael Bennett commented, “As a long-time Formula Wellness customer, I am excited to join the Company as CEO and work closely with our dedicated team to realize the potential of Formula Wellness in its next phase of growth. Together with Trive, we will drive operational excellence, unmatched patient experience, and expand geographically via de novo locations and acquisitions.”

“Since our inception, Formula Wellness has been dedicated to empowering individuals to embrace their journey towards holistic well-being. With this partnership, we are equipping the Company with the operational and financial resources to realize the vision that Formula Wellness was founded on. Michael, Chris, and Trive not only share our vision and values, but also bring the expertise, resources, and capital that position us to successfully execute on our expansion strategies,” Dr. Brian Rudman said.

“We believe the Company’s comprehensive service offering is a key differentiator versus other more traditional med spa models. We believe this holistic approach creates a stickier relationship that is perfectly on trend for where consumer health demand is heading,” commented David Stinnett, Partner at Trive Capital.

DETAILS:

  • Trive Capital Partners made an investment in Formula Wellness. 
  • The onboarding of a talented management team will happen with the investment that includes Chief Executive Officer Michael Bennett and Chief Financial Officer Christopher Crosby. Dr. Brian Rudman, who founded Formula Wellness alongside his wife Christina Rudman, will continue shaping the strategic direction of the company as a board member and Chief Medical Officer.

link

Leave a Reply

Your email address will not be published. Required fields are marked *