Houlihan Lokey Advises Pharmavite

Houlihan Lokey is pleased to announce that Pharmavite, a subsidiary of Otsuka Pharmaceutical Co., Ltd., has acquired Bonafide Health, the women’s health company creating a new standard in managing the menopause journey, for $425 million. The transaction closed on November 30, 2023.

Bonafide Health was founded in 2017 to create a new class of over-the-counter women’s health products—scientifically formulated, nature-inspired products with clinical evidence and doctor support. Powered by intellectual property and backed by clinical trials and endorsements from healthcare professionals, Bonafide Health’s six core products—under the names Revaree®, Relizen®, Ristela®, Clairvee®, Serenol™, and The Silvessa System®—focus on delivering long-term, sustainable support for needs that compound with age, including hot flashes, vaginal dryness, vaginal microbiome, sexual satisfaction, and more.

Based in California, Pharmavite is a pioneer in the health and wellness industry, earning the trust of consumers, healthcare professionals, and retailers by developing innovative vitamin and supplement solutions backed by science that adhere to strict manufacturing practices. Through its Nature Made®, Bonafide®, Nature Made® Wellblends™, Equelle®, MegaFood®, Nurish by Nature Made®, and Uqora® brands, Pharmavite is dedicated to helping people live healthier, more vital lives.

Houlihan Lokey served as the exclusive financial advisor to Pharmavite with respect to the transaction. This transaction underscores Houlihan Lokey’s deep expertise in women’s health and healthy aging following the recent sale of Qunol to Sanofi.