A technology company that helps independent pharmacies go digital is getting a $100 million cash injection to grow the business.
Digital Pharmacist Inc., a developer of software-as-a-service applications that help independent pharmacies interact with their customers by sending text message reminders for prescription refills, medication reminders and related communications will use the new money raised from K1 Investment Management for general expansion purposes, the company says.
K1, based in Los Angeles, invests in such Saas technology development companies as Apttus Corp., Buildium, Certify, Checkmarx Ltd., Chirotouch, Chrome River Technologies Inc., Granicus, IronScales Ltd., Jobvite Inc., Litera Microsystems, RFPIO, Smarsh Inc. and Workforce Software Llc. Digital Pharmacist “has continued to beat expectations and we have a high level of confidence in the management team’s ability to continue delivering on their vision,” says KI managing partner Hasan Askari.
Austin, Texas-based Digital Pharmacist develops HIPAA-compliant web, text, mobile and voice applications that help pharmacies automate refill requests, reminders and related patient messages. Digital Pharmacist’s communications technology integrates with over 60 pharmacy management systems, the company says.
“With K1’s investment, we intend to consolidate our market position, enrich our offering and deliver our technology to even more pharmacies,” says Digital Pharmacist CEO Chris Loughlin.
Digital Pharmacist says it has more than 7,500 independent pharmacies using its technology, which also helps independent druggists develop a social media marketing program, online newsletters and related health content that pharmacies can send its consumers.
A mobile app lets druggists send out prescription refill reminders and messages for preventing adverse drug reactions. Content available from Digital Pharmacist technology incudes 40,000 pages written by pharmacists and 7,500 videos.
Digital Pharmacist works with a number of pharmacy and marketing partners such as the National Community Pharmacists Association, Cardinal Health Inc. and QS/1, QS/1 a division of the J M Smith Corp.
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