Company raises $9 million Series A to build its world class team and accelerate the implementation
TAMPA, FLA. — December 12, 2018 – Aspen RxHealth formally announced today its entrance into the healthcare technology and services market with an app-based intervention technology that connects pharmacists with patients to deliver clinical services including medication therapy management (MTM). Aspen RxHealth’s mission is to enable the most responsive community of pharmacists that will deliver unsurpassed outcomes for patients and their families.
The company also announced it has closed a $9M Series A round of funding, led by Flare Capital Partners, with participation from a leading national strategic partner. The capital infusion will be used to accelerate the development of its disruptive technology platform and aggressively add talent to the company. An early addition to the world class team is Dr. Brad Tice, Pharm.D., MBA. Dr. Tice joins the company bringing years of deep domain knowledge and professional leadership. He is currently the incoming president of the American Pharmacists Association.
“We don’t think of pharmacy practice in terms of the number of corner drug stores or centralized call centers,” said David Medvedeff, chief executive officer, Aspen RxHealth. “We think of pharmacists anywhere at any time working as a community serving those in need. Every patient is unique and so is every pharmacist. At Aspen RxHealth our goal is to leverage these individual characteristics to optimize communication and enhance the experience for everyone involved.”
Industry Ripe for Disruption
The goals to improve medication adherence, reduce errors and improve chronic care management are rising every year. Significant headwinds impacting these goals include patients taking more medications with greater complexities and managing escalating costs. While pharmacies have made significant strides, there is greater scrutiny on MTM, care transition gaps, and specialty medication support. These factors drive the need for the role of the pharmacist to be expanded to offer a more meaningful patient-centric connection focused on optimizing the use of medications. The pharmacists in the Aspen RxHealth community empower patients with the information and action plans they need to have a profound impact on their healthcare goals.
“Pharmacies have made tremendous advancements in workflow automation, compliance packaging and delivery services, but there still seems to be a problem,” said Michael Greeley, co-founder and general partner, Flare Capital Partners. “The answer is reestablishing the patient-pharmacist relationship in ways that were never before possible. That’s where Aspen RxHealth comes in. Improved interoperability and more coordinated care networks allow the pharmacist to better ‘plug in’ and serve as a cornerstone of the patient’s extended care team.”
Next Generation Solution
Built from the beginning leveraging the most sophisticated approaches to clinical decision support and security, Aspen RxHealth’s mobile app and full technology platform ensure quality assurance with pharmacist onboarding and all patient interactions. The company’s novel approach to reestablishing the patient-pharmacist relationship is built on the proven model of crowdsourcing and enabling a two-sided marketplace.
About Aspen RxHealth
Aspen RxHealth develops technology that connects a community of pharmacists with patients. The company removes the barriers that currently exist for pharmacists to engage in direct patient care services. Aspen RxHealth’s community of pharmacists empowers patients with the information and action plans they need to achieve the optimal outcomes from their medications.
For more information, visit www.aspenrxhealth.com