Key Market Movements
1Mg, a platform offering an online pharmacy and health application that tells users about their medicines, their substitutes, and side effects, raised an undisclosed amount of venture funding on April 27, 2018, valuing the company at $75 million. Previously, the company raised $15 million of Series C venture funding in a deal led by HBM Healthcare Investments on July 27, 2017. In addition to keeping patients knowledgeable about their medication, the platform also provides regular health tips, online medication orders, and booking services for health tests and packages at local certified labs.
CVS struck a deal with the U.S. Postal Service to pick up prescriptions at CVS stores and bring them to customers' homes in 1-2 days. Customers will be charged $4.99 per delivery, which could include over-the-counter products such as aspirin as well.
Zipdrug, a provider of an online application that provides medication delivery to homes and offices, raised $600,000 of seed funding from Notation Capital, Collaborative Fund, and Red Sea Ventures on July 14, 2017.
Hims, a provider of wellness products intended to offer hair loss prevention medicines for men, raised $50 million