Digital Pharmacy, also referred to as Online Pharmacy, is the joining of digital tools and technologies used to improve pharmacy business, practice, and patient care in the complex market for medicines.
Consumers are increasingly using their experience with online purchasing to now search and purchase medications. A diverse and growing number of companies are launching and creating digital tools that help consumers purchase their prescriptions online, especially those trying to manage multiple chronic conditions.
Thirty Madison and Nurx, the leader in female-focused digital healthcare, recently entered into a definitive agreement to merge under the Thirty Madison brand.
The partnership will allow for greater access to care on a single, unified platform, while rapidly accelerating the use of Thirty Madison’s specialist-level care model through a breadth of new condition offerings, as well as a broader reach of patients through employers and payors via innovative partnerships.
Thirty Madison will become the leading virtual specialty health company with over 750k active patients, alongside a growing B2B presence with national payor and employer contracts, and expects to do $300M in revenue in 2022.
Thirty Madison helps patients manage chronic medical conditions requiring varying needs of specialty care from low-acuity to high-acuity through its integrated care model, which delivers superior health outcomes to patients.
Thirty Madison has raised over $210 million, including a $140 million Series C round in June 2021 led by new investor HealthQuest Capital. Mousse Partners and Bracket Capital also participated in the funding, along with existing investors Polaris Partners, Johnson & Johnson Innovation – JJDC, Inc., Northzone, Greycroft, and others. Thirty Madison is valued at over $1 billion.
With this new round of funding, Thirty Madison planned to expand access to its specialist-level care model to the millions of Americans suffering from chronic conditions.
This expansion includes enhancing the capabilities of Thirty Madison’s proprietary platform underpinning its care model as well as launching new brands focused on driving superior health outcomes and better patient experiences across conditions. The investment will enable Thirty Madison to reach patients not only directly, but also through their employers and healthcare payor networks via innovative partnerships.
Nurx was founded by Dr. Edvard Engesaeth and Hans Gangeskar, and launched through Y Combinator in 2016, to eliminate barriers to essential care. Starting with reproductive and sexual health, including contraception, STI testing, and PrEP for HIV prevention.
Nurx has since expanded into new conditions, including dermatology, which has become its fastest-growing service. Nurx has raised $110 million, allowing for its rapid condition coverage expansion and greater entry into payor and employer deals.
Takeaway: Thirty Madison and Nurx’s industry-leading patient outcomes are driven by their innovative care models