Back to Press Releases

Webster Equity Partners Acquires Belmar Pharmacies

April 22, 2019

By: Belmar Pharmacy

Waltham, MA (April 22, 2019) – Webster Equity Partners and MedEquity Capital are pleased to announce its partnership with Belmar Pharmacies (“Belmar” or the “Company”), a specialty compounding business servicing providers and patients nationwide.
Founded in 1985 and Headquartered in Golden, Colorado, Belmar is a specialty pharmacy platform that specializes in Bio-Identical Hormone Replacement Therapy (“BHRT”) and other hormone-based wellness products. Belmar services ~6,500 providers and ~64,000 patients annually across 46 states out of both 503A and 503B facilities.
“We are excited to partner with Dave Hill and his team to assist them in continuing to grow Belmar while maintaining the central focus on providing excellent service to its clients,” said David Malm, Managing Partner at Webster Equity Partners. “There is a tremendous opportunity to expand access to these services, and we look forward to helping Belmar close that gap.”
CEO Dave Hill said, “We chose to partner with Webster and MedEquity because they shared my vision of growing Belmar to become the leader in our sector. Their teams bring both the wherewithal and experience in specialty pharmacy to make that vision a reality. More importantly they also share our core values of quality, reliability, consistency and customer service.”
Both Webster and MedEquity are committed to provide a significant amount of additional capital to enable Belmar’s strategy of sector leadership through follow-on acquisitions.
About Webster Capital
Founded in 2003, Webster Equity Partners is a private equity firm that invests in the branded consumer and healthcare services industries and provides equity financing, expertise, and a broad contact network for management buyouts and growth capital. Webster is currently investing out of its fourth fund with $875 million of committed capital. For additional information on Webster Equity Partners, please visit
About MedEquity Capital
MedEquity Capital is a healthcare private equity firm that focuses on investing in profitable healthcare services, distribution and products companies. Since its founding 20 years ago, MedEquity has invested hundreds of millions of capital in over two dozen companies with top decile equity returns. For more information, please visit
About Belmar Pharmacies
Belmar Pharmacy is a compounding pharmacy located in Golden, CO. Since 1985, Belmar Pharmacy has specialized in compounding bio-identical hormones and is respected nationally as dosage form experts.
Belmar’s goal is better patient outcomes, through quality traditional compounding, and effective communication between practitioner, pharmacist, and patient.

About Belmar

Belmar began as a local compounding pharmacy in Denver, Colorado in 1985, and has since grown into a single source solution for prescribers, patients, and healthcare facilities all over the country, offering compounded medication, education, and consultation for anti-aging and integrative therapies. Now comprised of Belmar Pharmacy, Belmar Select Outsourcing, Green Mountain Pharmaceuticals, and Belmar Research, Belmar remains dedicated to its cumulative goal of better patient outcomes through quality compounding and effective communication between practitioners, pharmacists, and patients.