Austin, Texas, October 23, 2018 – HealthGrowth Capital and KloudScript have entered into a partnership to provide growth capital for community pharmacies seeking to enter the lucrative specialty pharmaceutical space.
“The operating landscape for community pharmacies continues to experience profound shifts. Once profitable business segments can become financially challenging very quickly,” said Karl Kipke, Chief Executive Officer of HealthGrowth Capital. “Successful pharmacy owners must proactively pivot to higher-margin opportunities to increase profits.”
“The $150 billion specialty market focuses on high cost, high touch medication therapy for patients with complex disease states,” Kipke continued. “This agreement enables our customers to have the necessary capital to expand opportunities for pivoting their community-based retail pharmacy business and integrate specialty pharmacy care by joining KloudScript’s specialty pharmacy network.”
“In today’s market, it is almost impossible for community pharmacies to build a specialty pharmacy from the ground-up or even buy one without taking on insurmountable capital risk. KloudScript offers an opportunity for pharmacies to participate in an alliance across targeted markets to lower the risk and barriers to entry for offering a specialty program,” said Rinku Patel, PharmD, Chief Executive Officer of KloudScript. “HealthGrowth Capital recognizes the enormous opportunity that the specialty market offers retail pharmacies. We are delighted to be partnering with HealthGrowth Capital in accessing programs that will help pharmacy entrepreneurs properly finance their businesses and help them maximize the operating performance of their pharmacies.”
About HealthGrowth Capital, LLC
HealthGrowth Capital, LLC, based in Austin, Texas is a leading alternative specialty lender to healthcare companies and medical practices. HealthGrowth Advisors, LLC offers management consulting services to help community pharmacies improve profitability, optimize operations, reduce DIR fees and identify and access new growth opportunities. For more information, please visit www.healthgrowthcapital.com or call (512) 575-4500.
About KloudScript, Inc
Headquartered in Oakbrook Terrace, Illinois, KloudScript is a community-led specialty pharmacy network that partners with independent community pharmacies nationwide and collaborates with pharmaceutical manufacturers, payors, and prescribers to make specialty medications available locally for patients. Through its technology platform, KETU™, and support services, KloudScript has pioneered the ultimate solution for patients’ desire for local care and community pharmacies’ strategic need to participate in the fastest growing segment of pharmacy. Learn more about KloudScript’s growing community-led specialty pharmacy network at www.kloudscript.com or call (855) 202-7036.