Nautic Partners has made a strategic growth investment in SPS Health, according to a news release.

SPS, based in Milwaukee, offers a portfolio of solutions, including formulary management, on-demand pharmacy and benefit administration, to pharmacies and pharmacy benefit managers. Services are provided through SPS’s three companies: LithiaRx, Trinity Healthcare Solutions and StatimRx.

Nautic, based in Providence, R.I., is a middle market private equity firm focused on investments in healthcare and a few other sectors. The firm prefers to make $50 million to $400 million-plus equity commitments in a variety of growth, consolidation and buyout opportunities of North American companies with enterprise values from $100 million to $1 billion and more.

Terms of the investment were not disclosed.