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Wednesday, June 29, 2022

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iApotheca Healthcare Inc. Announces Closing of $470K Angel Funding Round

iApotheca Healthcare, the developers of a leading Canadian pharmacy software operations platform, has announced the closing of a $470k angel funding round. iApotheca will use the funds to accelerate their EconoRoute™ Prescription Delivery System through the addition of key team members, ongoing platform development and the expansion of the EconoRoute™ network.

“Prescription delivery is revolutionizing the way people interact with their chosen pharmacy,” said Spencer Turbitt, co-founder and CEO of iApotheca. “We would like to thank Leva Capital, York Angels, and Valhalla Angels for their investment in our company. Their investment and advice are allowing us to accelerate our plans to achieve our vision for the pharmacy delivery space.”

iApotheca specializes in streamlining pharmacy operations, particularly in prescription delivery service, to help pharmacies grow their revenue. In recent years, the demand for prescription delivery has seen a sharp rise. iApotheca’s EconoRoute™ prescription delivery software supports the demand with an easy-to-use, low-cost, one-stop solution for pharmacies of all sizes.

“Leva Capital is thrilled to announce the addition of iApotheca into our investment portfolio,” said Eddie Gobran, Managing Partner. “Their strategy aligns with our vision of investing in health technology that will improve the healthcare experience for Canadians. We are confident in iApotheca’s team to execute their strategy and deliver a great experience to pharmacies across Canada.”

EconoRoute™ includes features that make it an ideal delivery solution for any business. Its unique physics-based instant routing and real-time driver tracking are high-performance tools. Built-in pay-at-the-door functionality also makes it easy for businesses to track accounting.

iApotheca’s years of expertise in supporting pharmacies in doing business more efficiently make EconoRoute™ more than just another prescription delivery service.  The software has the added benefit of built-in compliance tools, cold-chain prioritization, and inherent patient privacy measures, all crucial for compliance. Taken together, these tools make EconoRoute™ a must-have for prescription delivery.

“Willowgrove Pharmacy has been using EconoRoute™ since its inception. After spending much time researching delivery platforms, EconoRoute™ came out the clear winner,” said Devon Elias, owner of Willowgrove Pharmacy in Manitoba. “The application does everything we need it to do. Optimization of routes, easy set up of regular repeat deliveries, tracking and signature requirements are all in one application, allowing for a single program to be our delivery central. Willowgrove Pharmacy employs three full-time positions for delivery of product and services and EconoRoute™ easily organizes it all.”

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Medical Device News Magazine is a division of PTM Healthcare Marketing, Inc. Pauline T. Mayer is the managing editor.

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