The over-the-counter drugs distribution industry in Latin America is a vital segment of healthcare, enabling consumers to access medications without prescriptions. It includes a variety of players such as pharmaceutical distributors, retail pharmacies, and e-commerce platforms, all focused on providing essential healthcare solutions. The industry has seen accelerated growth, driven by increasing health awareness, an aging population, and a rising demand for health services. With the continued digitalization of healthcare and the expansion of online marketplaces, stakeholders are pivoting towards innovative distribution strategies to meet evolving consumer needs and preferences. Competition and collaboration will shape the future landscape.


In this article, we spotlight ten prominent investors in Latin America’s over-the-counter drugs distribution sector. Our list comprises corporate giants like Grupo Elfa and Femsa, alongside venture capitalists such as Stella Maris Partners, showcasing a blend of established and emerging players. Headquartered across Brazil and Mexico, these investors range from large conglomerates with thousands of employees to focused firms supporting startups. Founded between the late 19th century and the early 2000s, their 2024 investment activities highlight commitment to a growing market in healthcare.


Top 10 Over-the-Counter Drugs Distribution Investors in Latin America


1. Femsa

  • Website: femsa.com
  • Type: Corporate
  • Headquarters: Monterrey, Nuevo Leon, Mexico
  • Founded year: 1890
  • Headcount: 10001+
  • Number of deals in 2024: 3
  • LinkedIn: femsa

Fomento Económico Mexicano S.A.B. de C.V. (Femsa) is a multinational company based in Monterrey, Nuevo Leon, Mexico, primarily operating in the beverage and retail sectors. Founded in 1890, Femsa is the largest Coca-Cola bottler globally and operates OXXO, a chain of convenience stores. In recent years, Femsa has strategically expanded its operations in the pharmaceutical sector through several key acquisitions. Notably, in 2018, Femsa acquired Fybeca, a prominent drugstore chain in Ecuador, and in 2019, it completed the acquisition of Corporación GPF, further enhancing its drugstore presence in South America. Additionally, Femsa Comercio acquired Farmacias Farmacon, which operates over 200 stores in Mexico, marking a significant step in its strategy to strengthen its small-box retail segment. These transactions highlight Femsa's commitment to creating economic and social value through its diverse offerings, including over-the-counter drugs distribution.


2. Grupo Elfa


Grupo Elfa is a prominent healthcare distributor based in Sao Paulo, Brazil, founded in 1990. The company specializes in the distribution of pharmaceuticals and medical supplies, serving hospitals, clinics, and health plans across the country. With over 30 years of experience, Grupo Elfa plays a crucial role in the healthcare supply chain, providing logistics services that enhance operational efficiency. Notably, Grupo Elfa has made significant acquisitions to strengthen its market position, including the acquisition of Dupatri for $34.7 million in January 2021, and the acquisition of Agilfarma Medicamentos through its subsidiary Prescrita Medicamentos in May 2019. These transactions reflect Grupo Elfa's strategy to expand its reach and capabilities in the pharmaceutical distribution sector, including over-the-counter drugs.


3. Raia Drogasil

  • Website: rd.com.br
  • Type: Corporate
  • Headquarters: Sao Paulo, Sao Paulo, Brazil
  • Founded year: 2011
  • Headcount: 10001+
  • LinkedIn: raia-drogasil

Raia Drogasil, founded in 2011 and based in Sao Paulo, Brazil, is a prominent corporate investor in the healthcare sector, particularly known for its extensive pharmacy chain operating under the brands Drogasil and Droga Raia. With over 2,500 stores, the company caters to consumers seeking accessible healthcare solutions, offering a wide range of products that include both prescription and over-the-counter medications. Raia Drogasil has been actively expanding its market presence through strategic acquisitions, such as Drogaria Onofre in 2019, which aimed to enhance its e-commerce capabilities, and Manipulae in 2020, as well as CUCO Health in 2021. These acquisitions reflect their commitment to strengthening their distribution network and improving service delivery in the over-the-counter drugs market.


4. Nexxus Capital


Nexxus Capital is a private equity investment firm based in Mexico City, Mexico, founded in 1995. The firm specializes in providing private equity and mezzanine debt to mid-sized companies in Mexico and Spain, managing multiple funds aimed at helping businesses grow and enhance their market presence. Among their notable transactions is their investment in Genomma Lab, a company recognized for its over-the-counter drug products, which raised an undisclosed amount in a private equity round in 2003. This investment highlights Nexxus Capital's involvement in the pharmaceutical sector. Additionally, they have invested in companies like Traxion and Grupo Turistore, although these transactions do not directly relate to the over-the-counter drugs distribution industry. Overall, Nexxus Capital's focus on mid-sized companies and their past investment in Genomma Lab suggest a potential interest in the over-the-counter drugs sector, but their broader investment strategy may not be exclusively centered on this area.


5. Viveo

  • Website: viveo.com.br
  • Type: Corporate
  • Headquarters: Sao Paulo, Sao Paulo, Brazil
  • Founded year: 1996
  • Headcount: 5001-10000
  • LinkedIn: viveosaude

Viveo is a corporate investor based in Sao Paulo, Brazil, founded in 1996. The company specializes in the manufacturing and distribution of medical materials and medications, serving a diverse customer base that includes hospitals, clinics, and patients. Viveo's focus is on simplifying the healthcare sector and ensuring efficient access to essential medical products and services. In recent years, Viveo has made significant acquisitions to strengthen its position in the healthcare market. Notably, they acquired Cirúrgica Mafra, which was approved by the Brazilian antitrust regulator in November 2021, and Boxifarma, a deal announced in April 2022 aimed at enhancing their direct-to-patient strategy. These transactions reflect Viveo's commitment to expanding its healthcare solutions, including over-the-counter drug distribution.


6. B Capital Group


B Capital Group is a financial services firm based in Sao Paulo, Brazil, specializing in providing solutions for the investment fund market, particularly in credit rights funds and securitization. The firm offers consulting services tailored to the needs of businesses and fund managers, helping them navigate complex financial landscapes and optimize their investment strategies. Notably, B Capital Group participated in a funding round for Thuocsi.vn, the largest online pharma distribution marketplace in Vietnam, which raised $9 million in a Series A funding round. This transaction highlights their involvement in the pharmaceutical distribution sector, particularly in the context of online platforms that may include over-the-counter drugs. Despite their broader focus on financial services, this transaction indicates a potential interest in the pharmaceutical distribution market.


7. Cites

  • Website: cites-gss.com
  • Type: Venture Capital
  • Headquarters: Sunchales, Santa Fe, Argentina
  • Founded year: 2014
  • Headcount: 51-200
  • Number of deals in 2024: 2
  • LinkedIn: cites

Cites is a venture capital firm based in Sunchales, Santa Fe, Argentina, founded in 2014. The firm specializes in supporting the development of scientific and technological startups, providing venture capital investment, mentorship, and access to resources. Cites primarily targets early-stage startups looking to transform innovative ideas into successful businesses. Notably, Cites has invested in Eolo Pharma, a clinical research startup focused on developing new anti-obesity drugs, which highlights their engagement in the pharmaceutical sector. Additionally, they have participated in seed rounds for companies like ARDAN PHARMA and RadBio, further indicating their commitment to the health and biotechnology fields. Their investments suggest a potential interest in the over-the-counter drugs distribution market, as they are involved in sectors that could lead to the development of such products.


8. Grupo Traxion SAB de CV

  • Website: traxion.global
  • Type: Corporate
  • Headquarters: Loma De Chapultepec, State Of Mexico, Mexico
  • Founded year: 2011
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: grupo-traxion-sab-de-cv

Grupo Traxion SAB de CV is a corporate investor based in Loma De Chapultepec, State Of Mexico, Mexico, founded in 2011. The company specializes in logistics and transportation, providing comprehensive solutions for the mobility of goods and people across various industries, including automotive, retail, and pharmaceuticals. In 2022, Traxion acquired Medistik for US$78 million, a healthcare distributor that enhances its logistics capabilities in the pharmaceutical sector, particularly in four-party logistics and last-mile delivery. Additionally, in 2024, Traxion acquired Solistica, further expanding its logistics operations across Mexico, Brazil, and Colombia. These transactions highlight Traxion's focus on optimizing supply chains and enhancing its presence in the pharmaceutical logistics market.


9. Stella Maris Partners

  • Website: stellamaris.mx
  • Type: Venture Capital
  • Headquarters: Monterrey, Nuevo Leon, Mexico
  • Founded year: 2012
  • Headcount: 1-10
  • Number of deals in 2024: 1
  • LinkedIn: stella-maris-partners

Stella Maris Partners is a venture capital firm based in Monterrey, Nuevo Leon, Mexico, founded in 2012. The firm specializes in investing in early-stage companies that demonstrate a strong social impact, providing seed capital and support to entrepreneurs to foster innovative solutions that contribute to economic growth in Mexico. In 2023, Stella Maris Partners participated in a significant funding round for Arogga, a local medicine delivery startup, which raised $5.5 million in seed funding. This transaction highlights their engagement in the healthcare sector, particularly in the distribution of medicines, aligning with their mission to support impactful ventures.


10. FIR Capital Partners


FIR Capital Partners is a venture capital firm based in Nova Lima, Minas Gerais, Brazil, founded in 1999. The firm specializes in providing venture capital and financial advisory services, connecting entrepreneurs and businesses with investors while offering strategic guidance for growth. FIR Capital focuses on small and medium enterprises across various sectors, leveraging its extensive experience and network to facilitate successful investments and business development. Notably, FIR Capital participated in a Series A funding round for Nexodata, a healthtech company that specializes in digital medical prescriptions. This investment of R$ 35 million is aimed at launching a marketplace for patients to purchase medications, indicating FIR Capital's engagement in the healthcare and pharmaceutical distribution space, particularly relevant to over-the-counter drugs.



Over-the-Counter Drugs Distribution Insights: Key Investors in Latin America


InvestorHeadquarterSizeFoundedDeals 2024
FemsaMonterrey, Nuevo Leon, Mexico10001+18903
Grupo ElfaSao Paulo, Sao Paulo, Brazil1001-500019900
Raia DrogasilSao Paulo, Sao Paulo, Brazil10001+20110
Nexxus CapitalMexico City, Mexico City, Mexico11-5019950
ViveoSao Paulo, Sao Paulo, Brazil5001-1000019960
B Capital GroupSao Paulo, Sao Paulo, Brazil1-100
CitesSunchales, Santa Fe, Argentina51-20020142
Grupo Traxion SAB de CVLoma De Chapultepec, State Of Mexico, Mexico10001+20111
Stella Maris PartnersMonterrey, Nuevo Leon, Mexico1-1020121
FIR Capital PartnersNova Lima, Minas Gerais, Brazil11-5019990


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