Truepill, a San Mateo, CA-based B2B pharmacy fulfillment service announced it has raised $13.4 million in Series A funding led by Initialized Capital, with participation from Y Combinator, Sound Ventures, Tuesday Capital and others. The company plans to utilize the funding to expand its team and fulfillment facilities across the US and enter the UK market.
Why Truepill?
As healthcare undergoes a massive shift towards telemedicine and direct-to-consumer care and treatment, Truepill is the
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Amazon Acquires Online Pharmacy Startup PillPack
Amazon, today announced it has entered into an definitive agreement to acquire online pharmacy startup, PillPack for an undisclosed amount. The deal will allow Amazon further entry into healthcare with an on-demand online pharmacy and drug distribution platform.Founded in 2013, PillPack is an online pharmacy that delivers medications in pre-sorted dose packaging, coordinates refills and renewals, and makes sure shipments are sent on time. The service is designed to provide the best possible
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Drug Pricing Transparency: Can Health IT Lower Drug Pricing for Patients?
Certain practices of pharmacy benefit managers (PBMs) have helped jack up drug prices to the point where many people can no longer afford their medications. For example, PBMs charge health plans considerably more for a drug than they pay pharmacies for the same medication. This “ingredient spread,” which generates much of the PBMs’ profits, results in health plans placing drugs into a higher-price tier. As a result, members’ copayments go up. Sometimes they’re higher than the cash prices for
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Private Equity Firm Acquires Pharmacy Automation Provider Capsa Healthcare
Levine Leichtman Capital Partners (“LLCP”), a Los Angeles-based private equity firm has acquired Capsa Healthcare, a provider of mobile workstations, medication management products, and pharmacy automation solutions for healthcare settings. Financial terms of the acquisition were not disclosed.Formed through the integration of Capsa Solutions, Rubbermaid Healthcare, and Kirby Lester, Capsa Healthcare develops and manufactures Point-of-Care Workstations, Medication Management Solutions, and
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