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K1 Invests Over $100 Million in Digital Pharmacist to Accelerate Growth & Product Development
AUSTIN, Texas, March 11, 2019 /PRNewswire/ -- Digital Pharmacist Inc. (www.digitalpharmacist.com), a rapidly growing software company that powers digital communication and adherence solutions for over 7,500 pharmacies, today announced that it has secured a substantial investment from K1 Investment Management (K1). With this investment, Digital Pharmacist will scale its operations to meet increasing demand for its platform and will develop new products to further enhance the patient-pharmacist experience.
"We are excited to partner with K1, a world-class SaaS investment firm, to help service the rapid sales momentum we have been experiencing," said Chris Loughlin, chief executive officer of Digital Pharmacist. "We have developed a market-leading patient engagement platform that is used by thousands of pharmacies and millions of patients every year. With K1's investment, we intend to consolidate our market position, enrich our offering and deliver our technology to even more pharmacies. Pharmacies are increasingly important in today's healthcare landscape. Our mission is to help these pharmacies become more efficient and create better health outcomes for their patients through easy to use digital solutions."
Digital Pharmacist's HIPAA compliant web, text, mobile and voice applications help pharmacies achieve substantial time and cost savings by automating refill requests and reminders and automating communication with patients. The platform fits seamlessly within the pharmacies' current workflow system, integrating with over 60 pharmacy management systems. The company also provides a powerful digital marketing solution that creates for pharmacies a social media presence, an online advertising strategy, eNewsletters, and health content that the pharmacies can send its consumers, ultimately allowing the pharmacies to attract new clients and retain their current ones.
"Digital Pharmacist is a must-have platform for pharmacists," said Hasan Askari, managing partner at K1. "The pharmacy industry has witnessed underinvestment in technology over the past few decades and pharmacists are now recognizing that increased revenue and profitability can be achieved through the Digital Pharmacist platform. The company 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."
Digital Pharmacist's management team and employees continue to operate the company.
About Digital Pharmacist
Digital Pharmacist Inc. (http://www.digitalpharmacist.com) is a rapidly growing software company that powers the digital, communication and adherence solutions for over 7,500 pharmacies. Millions of patients use the company's products. The company is headquartered in Austin, Texas with offices in Newark, New Jersey. Digital Pharmacist Inc. is a partner of the National Community Pharmacists Association and powers the Cardinal Health Pharmacy Marketing Advantage Program and the Smith Drug Company Healthwise digital product suite. For more information, visit www.digitalpharmacist.com or call 1-(877) 959-7550.
K1 is a leading investment firm focusing on high-growth enterprise software companies globally. K1 seeks to help dynamic businesses achieve successful outcomes by identifying and executing organic and acquisition-based growth opportunities that position their companies as industry leaders. K1 typically invests alongside strong management teams that continue to guide their organizations on a day-to-day basis. K1's investments vary in the level of ownership in order to meet the needs of entrepreneurs and managers. Representative past and present portfolio companies include industry leaders such as Apttus, Buildium, Certify, Checkmarx, Chirotouch, Chrome River, Granicus, IronScales, Jobvite, Litera Microsystems, RFPIO, Smarsh and Workforce Software. For more information about K1, please visit www.k1capital.com or https://www.linkedin.com/company/k1im.
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SOURCE Digital Pharmacist Inc.