• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • Skip to footer

  • Opinion
  • Health IT
    • Behavioral Health
    • Care Coordination
    • EMR/EHR
    • Interoperability
    • Patient Engagement
    • Population Health Management
    • Revenue Cycle Management
    • Social Determinants of Health
  • Digital Health
    • AI
    • Blockchain
    • Precision Medicine
    • Telehealth
    • Wearables
  • Life Sciences
  • Investments
  • M&A
  • Value-based Care
    • Accountable Care (ACOs)
    • Medicare Advantage

Alchemy Secures $31M to Expand In-House Pharmacy Programs for Underserved HIV Communities

by Fred Pennic 10/15/2024 Leave a Comment

  • LinkedIn
  • Twitter
  • Facebook
  • Email
  • Print

What You Should Know: 

– Alchemy, a healthcare company focused on improving access to medications for underserved populations secures $31M in seed funding. 

– The investment was led by Andreessen Horowitz (a16z) Bio + Health, with participation from Earvin “Magic” Johnson, Sandberg Bernthal Venture Partners, Banc of California, and other investors.  

Expanding Access to Care for HIV Communities

Alchemy provides the infrastructure and technology needed to build and operate in-house pharmacy programs, with a focus on serving clinics with large HIV and Hepatitis C (HCV) patient populations. These communities often face significant barriers to accessing essential medications and healthcare services.

A Comprehensive Approach to Pharmacy Services

Alchemy’s platform offers a comprehensive approach to supporting in-house pharmacy programs:

  • Physical Infrastructure: Provides the necessary equipment and resources to establish and operate an in-house pharmacy.
  • Clinical Programs: Designs and implements clinical pharmacy programs to optimize medication management and patient care.
  • Technology Solutions: Deploys technology products to streamline pharmacy operations, enhance patient communication, and improve medication adherence.

Partnering with Safety Net Clinics

Alchemy is initially partnering with Federally Qualified Health Centers (FQHCs), STD clinics, and Ryan White clinics to implement its platform. These safety net clinics play a crucial role in providing healthcare services to underserved communities.

Proven Experience and Impact

Alchemy’s founding team brings extensive experience in clinical care, pharmacy operations, technology, and global health initiatives. They have a proven track record of success in building and scaling pharmacy programs, including the largest HIV access program in Africa and pharmacies that have dispensed over 25 million prescriptions in the U.S.

Accelerating Growth and Expanding Services

This new funding will enable Alchemy to:

  • Accelerate Growth: Expand its reach and launch in-house pharmacy programs in 20 states over the next year.
  • Develop Mobile Clinic Program: Extend its services to mobile clinics, further increasing access to care for underserved communities.
  • Enhance Digital Platform: Strengthen its digital platform to streamline pharmacy operations and improve patient communication.

Improving Health Outcomes and Financial Impact

By partnering with Alchemy, clinics can:

  • Expand Patient Reach: Increase access to essential medications and pharmacy services for their patients.
  • Improve Health Outcomes: Enhance medication adherence and improve patient health outcomes through clinical pharmacy programs.
  • Optimize Financial Impact: Increase the financial sustainability of their pharmacy programs through efficient operations and technology solutions.

“Having spent over a decade in Africa building the largest HIV access program in the world, I was shocked to learn that HIV medication adherence rates in Africa are better than they are here in the United States. I’m convinced that the number one barrier to medication access for HIV patients is the friction that exists in navigating the US pharmacy system,” said Peter Park, founder and Co-CEO of Alchemy. “By bringing the clinic and the pharmacy into one location, we are providing unique solutions that meet the needs for HIV and HCV populations across the country.”

  • LinkedIn
  • Twitter
  • Facebook
  • Email
  • Print

Tagged With: Pharmacy

Tap Native

Get in-depth healthcare technology analysis and commentary delivered straight to your email weekly

Reader Interactions

Primary Sidebar

Subscribe to HIT Consultant

Latest insightful articles delivered straight to your inbox weekly.

Submit a Tip or Pitch

Featured Interview

Reach7 Diabetes Studios Founder Chun Yong on Reimagining Chronic Care with a Concierge Medical Model

Most-Read

HHS Finalizes HTI-4 Rule: Prior Authorization & E-Prescribing Interoperability

HHS Finalizes HTI-4 Rule: Prior Authorization & E-Prescribing Interoperability

Meaningful Use Penalties_Meaningful Use_Partial Code Free_Senators Urge CMS to Establish Clear Metrics for ICD-10 Testing

CMS Finalizes TEAM Model: A New Era of Value-Based Surgical Care

White House Event Unveils CMS Health Tech Ecosystem Initiative

White House Event Unveils CMS Health Tech Ecosystem Initiative

Digital Health Faces Q2'25 Pullback: Funding Falls to 5-Year Low, But AI Dominates and $1B+ IPOs Emerge

Healthcare Investment Shifts in 1H 2025: AI Remains a Bright Spot Amidst Fundraising Decline

Digital Health Faces Q2'25 Pullback: Funding Falls to 5-Year Low

Digital Health Faces Q2’25 Pullback: Funding Falls to 5-Year Low

Beyond the Hype: Building AI Systems in Healthcare Where Hallucinations Are Not an Option

Beyond the Hype: Building AI Systems in Healthcare Where Hallucinations Are Not an Option

Health IT Sector Navigates Policy Turbulence with Resilient M&A

Health IT’s New Chapter: IPOs Return, Resilient M&A, Valuations Rise in 1H 2025

PwC Report: US Medical Cost Trend to Remain Elevated at 8.5% in 2026

PwC Report: US Medical Cost Trend to Remain Elevated at 8.5% in 2026

Philips Launches ECG AI Marketplace, Partnering with Anumana to Enhance Cardiac Care with AI-Powered Diagnostics

Philips Launches ECG AI Marketplace, Partnering with Anumana to Enhance Cardiac Care with AI-Powered Diagnostics

WeightWatchers Emerges from Bankruptcy, Launches New Menopause Program

WeightWatchers Emerges from Bankruptcy, Launches New Menopause Program

Secondary Sidebar

Footer

Company

  • About Us
  • Advertise with Us
  • Reprints and Permissions
  • Submit An Op-Ed
  • Contact
  • Subscribe

Editorial Coverage

  • Opinion
  • Health IT
    • Care Coordination
    • EMR/EHR
    • Interoperability
    • Population Health Management
    • Revenue Cycle Management
  • Digital Health
    • Artificial Intelligence
    • Blockchain Tech
    • Precision Medicine
    • Telehealth
    • Wearables
  • Startups
  • Value-Based Care
    • Accountable Care
    • Medicare Advantage

Connect

Subscribe to HIT Consultant Media

Latest insightful articles delivered straight to your inbox weekly

Copyright © 2025. HIT Consultant Media. All Rights Reserved. Privacy Policy |