NH pharmacy lands $4M in funding for custom pre-packaged doses of medications
PillPack, which delivers prescriptions in pre-packaged envelopes for each day of the week, has been navigating the regulatory process and raising money since early last year.
"Managing medications is a complicated and stressful chore for people who have multiple prescriptions," said T.J. Parker, pharmacist and CEO at PillPack. "PillPack is a pharmacy that's making the end-to-end process both simple and understandable. We've used modern technology and a healthy dose of design to reinvent the entire pharmacy experience."
As he began his own pharmacy career, Parker teamed up with Elliot Cohen, an MBA graduate from MIT's Sloan School of Management, to create PillPack.
The first prescription was mailed out in September from the Manchester location. PillPack mails medications every two weeks, but not in prescription bottles. The order arrives in pre-sorted, sealed, individual envelopes organized by date and time, linked together with perforations on a dispenser roll.
The 31 states where PillPack is currently licensed include all of New England and New York. As the company grows, it will have to bring on employees to service a customer base that could reach more than a million people, according to investor Fred Destin, a partner in Atlas Venture.
As part of the financing, Destin and David Frankel, a partner with Founder Collective, joined the PillPack board.
"Assuming this thing works the way it should, we will be hiring quite a few folks in Somerville and in New Hampshire," he said, "everything from pharmacists to technicians to software engineers to marketing people. It's going to take a very broad range of talents."
Subscribe for FREE!
Union Leader Business Newsletter
Middlebrooks homers; Red Sox win, lose one
Cooperative has 1,230 without electricity