Cyprium Partners announced it has completed its 100th platform investment, providing debt and equity to 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 across the Midwest. The company fills more than three million prescriptions annually, providing personalized, quality care to patients in six states through 65 locations. OneroRx has grown through de novo expansion and a number of single- and multi-location acquisitions, including several during 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 continued local access to comprehensive pharmacy services," says OneroRx President and CEO Joseph Dunham II. "Our strategy is to continue expanding our footprint to combat the increasing number of pharmacy deserts in the US, and this transaction provides us with the capital needed to execute our growth plan."
Committed 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, long-term care facilities and group homes in markets that have historically been underserved by the large national chains. OneroRx's smaller store footprints, cash discount program, compliance packaging capabilities and delivery services all serve to make critical pharmacy services more accessible and affordable, helping to improve medication adherence.
"I was incredibly impressed by the skill and dedication of OneroRx's management team and employees," says Beth Haas, a partner at Cyprium. "The company's ability to offer vital services at affordable prices is an essential component of improving patient outcomes and we are thrilled to support them in this endeavor. I couldn't be happier that our 100th platform company is one with such an unwavering focus on serving its patients and communities."
