Trive Capital Partners with Formula Wellness, a Leading Provider of Holistic Wellness Services

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Mar 18, 2024, 15:21 ET

DALLAS, March 18, 2024 /PRNewswire/ -- Trive Capital ("Trive"), the Dallas-based private equity firm, is excited to announce its recent investment into Formula Wellness ("FWC" or the "Company"), a leading provider of health, medical-based wellness, and aesthetics services with a focus on longevity science. The Company takes a personalized approach to wellness, with key services across nutrition, hormone balance, and aesthetics to improve patient longevity inside and out.

Trive Capital Partners with Formula Wellness

Founded in 2016, the Company currently has five locations across the DFW metroplex. Trive's investment in Formula Wellness marks a significant inflection point of expansion as the Company brings on a proven private equity-backed healthcare management team to accelerate its de novo and acquisition strategies.

"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.

In connection with this investment, the Company is onboarding a talented management team 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.

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.

Formula Wellness is actively seeking add-on opportunities in the med spa and wellness services space.

About Formula Wellness
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. The Company's founding cornerstones to holistic wellness include nutrition, hormone balance, nutrients, and aesthetics.

About Trive Capital
Trive Capital is a Dallas, Texas based private equity firm with more than $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. We seek to maximize returns through a hands-on partnership that calls for identifying and implementing value creation ideas.

The Trive team is comprised of seasoned investment professionals who have been involved in over 100 middle-market transactions representing in excess of $6 billion in revenue across Trive's targeted industry sectors and situations.

SOURCE Trive Capital